The true wireless headphones market is expected to grow at a CAGR of over 17% during the period 2019-2025

NEW YORK, May 12, 2020 /PRNewswire/ -- In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global True Wireless Headphones Market Report

Read the full report: https://www.reportlinker.com/p05758034/?utm_source=PRN

The true wireless headphones market is expected to grow at a CAGR of over 17% during the period 2019–2025.

The global true wireless headphones market is expected to grow at a CAGR of over 17% during the period 2019–2025. Music enthusiasts are investing in high-quality earphones that are compatible with portable devices for high-sound quality and enhanced audio experience. Mobile devices have emerged as the preferred medium for consuming online media. Since 2010, the global smartphone market has witnessed unprecedented growth. Smartphone shipments crossed 1.5 billion in 2015 and crossed over 2.0 billion in 2019. Globalization and the increased number of mass media channels have made millennials aware of a wide range of cultures and music genres. About 49% of millennials watch videos on their mobile devices.
Moreover, millennials are three times more likely to watch videos on their mobile devices than baby boomers. Therefore, millennials invest in premium earbuds that are compatible with smartphones and handheld portable mobile devices such as iPods, MP3, and MP4 players. Hence, changing lifestyles are driving the growth of the global true wireless headphones market.

The following factors that are expected to contribute to the growth of the true wireless headphones market during the forecast period:
• True Wireless Headphones as Hearables in Connected Environment
• Enhancing Features While Reducing Size of Earbuds
• Growth in Tech-Savvy Consumers

The study considers the present scenario of the true wireless headphones market and its dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report covers both the demand and supply sides of the market. It profiles and examines leading companies and other prominent companies operating in the market.

TRUE WIRELESS HEADPHONES MARKET: SEGMENTATION

This research report includes a detailed segmentation by features, price range, noise accentuation, distribution channel, and geography. The demand for smart true wireless headphones has grown in recent years as an increasing number of consumers focus on product aesthetics and add-on features. The sports and fitness segment witnessed an increased application in 2019. The growing adoption of smartphones and other portable connected devices such as tablets and portable music players is a major factor influencing the segment growth. While smart headphones include a slew of features - water resistance, noise cancellation, improved sound format, 3D surround sound technology, storage capacity, they can perform a host of functions other than answering calls and streaming music. These features include gesture recognition, sensors, and biometric recognition. However, the increasing availability of counterfeit and low-quality products can severely hinder the sale of smart headphone brands.

Bluetooth has become a preferred choice among OEMs as this technology is increasing the demand for true wireless headphones. Vendors are launching noise attenuating earphones with features that can regulate ambient sounds using active noise control. Most headphone users are aware that non-industrial sounds can affect the hearing. The use of loud volume while listening to the audio on earphones is due to the presence of surrounding sounds that leads to the rise in the adoption of active noise-canceling headphones. Over 16 global vendors are offering true wireless earbuds with noise cancellation capabilities. Hence, the rising demand for noise cancellation in audio settings, including hearing protection products and protective communication devices, is driving the transition of noise-canceling headsets into the hearables segment that includes headphones, hearing augmentation solutions, and commercial headsets.

The premium headphones segment is expected to will witness 3 times growth during the forecast period. The segment is adopted by brands such as Bose, Sennheiser, Apple, Sony, and Samsung. The ability of these vendors to integrate premium wireless headphones with hi-tech functionalities such as layered hearing and speech amplification is expected to drive the segment growth. Currently, smart and branded true wireless headphones fall under this segment. Another reason for the surge in the adoption of premium models is that users are finding new affection for these devices. It is estimated that over 3 billion users worldwide will regularly consume audio and video by streaming directly over their phones and other portable devices such as tablets by 2025. This is expected to drive the demand for premium devices as they help to consume media comfortably and discreetly.

True wireless headphones are mainly sold through online channels and retail distribution channels such as specialty stores supermarkets and hypermarkets or mass-market players, and electronic stores. In 2019, online sales accounted for over 82% of the distribution model, with retail sales accounting for the rest. The online channel is the largest distribution channel. It is expected to grow further during the forecast period as smart and innovative earphones are being recognized and accepted as the ideal gift items among consumers in several geographies. Consumers are becoming aware of new and innovative products in the market. Moreover, the adoption of new technologies is increasing across demographics across the globe. Hence, the growth opportunities for headphones are increasing parallelly. Further, the impact of the corona pandemic has led to several vendors in both online and offline channels to slash their prices, and it is likely to continue until the global true wireless market revives.

Market Segmentation by Features
• Smart
• Non-Smart
Market Segmentation by Price Range
• Premium
• Moderate
• Low
Market Segmentation by Noise Attenuation
• Noise Isolation
• Noise Cancellation
Market Segmentation by Distribution Channel
• E-Commerce Sites
• Vendor Stores & Sites
• Mass-market Players
• Specialty Stores
• Online Music Stores
• Electronic Stores
• Others

INSIGHTS BY GEOGRAPHY

The trend of on-demand streaming is driving the sale of headphones in North America. With the growing number of smartphone users and the presence of high-speed internet connectivity, many consumers prefer streaming their favorite music, videos, and podcasts at any place and at any time. The rise in the number of music and video playback applications and the growing number of users that stream music during their daily chores are expected to drive the sales in the region.

Europe is witnessing the adoption of premium, smart headphones at a higher rate. Consumers in Europe are showing an interest in the adoption of paid digital audio subscriptions. They are also actively engaging in fitness and sports activities. The trend to invest in music and fitness subscriptions, as well as in fitness gear, creates opportunities for higher sales. Moreover, the rise in smartphone users, coupled with high internet penetration, is driving the true wireless headphones market in Europe.

The APAC true wireless headphones market is influenced by the increasing penetration of smartphones and rapid urbanization, which increases opportunities for online streaming of audio and video content on smartphones as well as other portable devices such as tablets. With the availability of budget smartphones, higher disposable income, and the increased buying power of the middle-class population, especially in China, South Korea, and India, the sales of smartphones have surged in recent years. This is expected to increase the addressable market for true wireless headphones as a more functional device to hear music while engaging in entertainment and fitness activities.

Market Segmentation by Geography
• North America
o US
o Canada
• APAC
o China
o Japan
o South Korea
o India
o Australia
• Europe
o UK
o Germany
o France
o Italy
o Benelux
o Scandinavia
o Russia
o Switzerland
o Nordic
• Latin America
o Brazil
o Mexico
o Argentina
o Chile
o Colombia
o Peru
• MEA
o UAE
o South Africa
o Turkey

KEY VENDOR ANALYSIS
A temporary setback and decline in new unit sales are inevitable across major and emerging markets due to the outbreak of the Corona Pandemic. The major impact on the headphones market of the pandemic has been the disruption in component manufacturing and supply as well as the closure of assembly lines, which have hit the overall electronics market. The negative impact and decline in new sales are likely to affect the first half of 2020, with several markets starting to revive by June and July 2020. The market remains a little concentrated among top vendors, enjoying the majority of the revenue and a growing influx of small and mid-sized vendors worldwide, accounting for the remaining share. Variations in demand across the globe and a consistent need for technological enhancement in product offerings are forcing vendors to refine and modify their unique value propositions.

Key Vendors
• Apple
• Sony
• Samsung
• Jabra

Other Prominent Market
• 1more
• Avanca
• Alpha Audiotronics
• Anker
• Arbily Tech
• Audio Technica
• Avanca
• Bang & Olufsen
• BBK Electronics
• Blaupunkt
• Boat
• Bose
• Cambridge Audio
• Crazybaby
• Creative
• Earin
• Gonoise
• Huawei
• Jam
• JLab
• Jaybird
• JAYS
• JVCKenwood
• Lyertek
• LG Electronics
• Master & Dynamic
• Meizu
• Mobvoi
• Motorola
• Mymanu
• Nokia
• Nuheara
• Pioneer
• Plantronics
• QCY
• RHA
• Rowkin
• Sennheiser
• Sol Republic
• SoundMagic
• SoundPeats
• Trelab
• Waverly Labs
• Xiaomi

Key Market Insights
The report provides the following insights into the true wireless headphones market for the forecast period 2020–2025.
• Offers sizing and growth prospects of the market for the forecast period 2019–2024
• Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market
• Includes a detailed analysis of growth drivers, challenges, and investment opportunities
• Delivers a complete overview of segments and the regional outlook of the market
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage

Read the full report: https://www.reportlinker.com/p05758034/?utm_source=PRN

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