Jun 22, 2021, 08:30 ET
NEW YORK, June 22, 2021 /PRNewswire/ -- The global true wireless earbuds market size is expected to reach USD 14.51 billion by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 14.4% from 2021 – 2028. Increasing consumer preference for wireless earbuds due to their better audio quality, rapid advancements in mobile technology, and rising internet penetration are among the key factors propelling the market growth. In addition to this, increasing focus on the development of smart and user-friendly devices to attract consumers further augmenting the growth of the market. Moreover, the rise in the manufacture of technologically advanced products with budget-friendly pricing is complementing the market growth.
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Key Highlights of True Wireless Earbuds Market
- Based on distributing channel, the segment of retail offline stores contributed the largest revenue share and is expected to add more share during the forecast period. The growth is attributed to consumer preference for product purchases from retail shops, pop shops, and supermarkets.
- In terms of end-use, the consumer segment dominated the true wireless earbuds market and accounted for a majority of the market share, owing to rising penetration of infotainment devices such as laptops, mobile phones, and in-vehicle infotainment devices.
- Razer, a leading developer of gaming devices and accessories has launched a new audio variant of its Hammerhead earphones called Razer Hammerhead True Wireless Pro. This comes with a 60ms low latency mode and is specifically optimized for gamers.
- pTron, launched its True Wireless Earbud Bassbuds Sports which are primarily designed for athletes and bikers. These earbuds are developed in a way that will be able to withstand rigorous activities.
North America is the dominant regional market for true wireless earbuds and is expected to retain the same dominance over the forecast period. Improvements in product offering, increasing consumer base, and presence of several leading players in the region. The regional market in the Asia Pacific is anticipated to progress as the fastest growing market on account of the availability of low-cost earbuds, rise in internet use, increasing investment for the development of advanced products, and huge surge in online shopping in the region.
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Vendors from different parts of the globe are focusing on the improvements in product materials to enhance the final product. Feature-loaded devices are among the latest trend that redefining the genre of wearable as. The key players in the true wireless earbuds market are Sony, Apple, Beats, Jabra, Sennheiser, SoundMAGIC, Amazon, Cambridge Audio, Master & Dynamic, JBL, Lypertek, Bang & Olufsen, Audio-Technica, Anker, Klipsch Audio Technologies, and Jaybird.
- Supply Side: Manufacturer and Supplier of Machinery
- Demand Side: Consumer, Commercial
- Regulatory Side: Federal Communications Commission (FCC)
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Polaris Market research has segmented the true wireless earbuds market report on the basis of distribution channel, end-use and region:
True Wireless Earbuds Distribution Channel Outlook (Revenue, USD Million, 2016 – 2028)
- Retail Offline Stores
- Online Platforms
True Wireless Earbuds End-Use Outlook (Revenue, USD Million, 2016 – 2028)
True Wireless Earbuds Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
List of Key Players of True Wireless Earbuds Industry
- Cambridge Audio
- Master & Dynamic
- Bang & Olufsen
- Klipsch Audio Technologies
*Note: Additional companies can be included on request
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About Polaris Market Research
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