Wireless Earphone Market to Reach US$ 18.2 Bn by 2031; Penetration of Smart Devices to Spur Sales: TMR Study

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Aug 05, 2022, 07:30 ET

Manufacturers capitalizing on the attributes of noise -cancellation features, long-battery life, portability, and comfort to capture value in wireless earphone market; adoption of canal earphones to rise in various sector
Massive demand for Bluetooth-enabled earphones underpins substantial revenues; North America and Europe have been remarkably lucrative markets, where growth to be propelled by new technologies

WILMINGTON, Del., Aug. 5, 2022 /PRNewswire/ -- Headphone and audio equipment manufacturers are launching wireless earphones that have superior sound quality, remarkable noise-cancellation features, portability, superfast charging time, and water-resistant designs to capture value. They are increasingly commercializing slew of affordable and comfort fit products with aim to stay ahead in the category of best wireless earbuds in 2022. The size of the wireless earphone market was pegged at US$ 8.67 Bn in 2021.

Rise in adoption of wireless earphones for use in gaming, fitness, and entertainment applications has resulted in increase in wireless earbuds market size. Manufacturers of best Bluetooth earphones are leveraging online retail to spur sales, especially in the emerging economies. Companies are launching premium models in best noise cancelling earbuds to enrich the value proposition of their flagship products in the wireless earphone market.

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Key Findings of Wireless Earphone Market Study

Rise in Smartphone Users Steering Demand for Wireless Earphones: Worldwide, smartphone subscribers have risen sharply over the years. Rise in penetration of smartphones in developing economies along with preference toward wireless devices has spurred the demand in the wireless earphone market.
Manufactures Tapping Enormous Revenues from Sales of Bluetooth-Enabled Devices: Consumers are attracted toward best noise cancelling earbuds for use in sports & fitness, and the music & entertainment sectors. Leading players are leaning on ensuring easy installation of the earphones and offer user support post-purchase. Rise in adoption of smart devices compatible with Bluetooth Low Energy (LE) radio has expanded the avenue in the wireless earphone market.
Firms Continuously Capturing Value from Improvements in Product Features: Earphone manufacturers are keen on offering augmented products to differentiate their offering, notably battery life, designs, sound optimization, and ease of connectivity. The TMR study found that canal earphones present an enormous avenue in the global wireless earphone market. In particular, they have gained popularity due to the superior comfort fit when used for long durations. Manufacturers have equipped canal earphones with memory foam, rubber, and silicone cushions to enhance comfort.

Wireless Earphone Market: Key Drivers

Rising number of consumers using smart devices are preferring wireless connectivity functionality. Thus, growing shipment of smart portable devices will create vast lucrative avenue for firms in the wireless earphone market.
The past few decades have witnessed advancement in wireless networking standards, thus bolstering the prospects of the wireless earphone market. Smartphone manufacturers for instance are geared toward tapping into the stable revenues by unveiling phones that seamlessly support wireless connection to accessories.

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Wireless Earphone Market: Regional Growth Dynamics

North America and Europe have emerged to be established markets for wireless earphones. Earphone manufacturers thus are leaning on offering augmented products and new features to capture wireless earbuds market share in these mature markets. Of note, they are focusing on promoting enhanced voice quality and fast charging features to attract consumers.

Meanwhile, the opportunities in the Asia Pacific at projected to advance at promising pace during the forecast period, finds the study on the wireless earphone market. A slew of launches of smartphones with innovative wireless connectivity features will boost the revenue potential.

Wireless Earphone Market: Key Players

A few large-scale vendors control the demand and supply in the wireless earphone market, rendering the strategic landscape fairly consolidated. Some of the key players in the market are Samsung Electronics Co, Ltd., Jabra, SONY Corporation, Bose Corporation, Plantronics, Inc., OnePlus Technology Co., Ltd., Apple, Harman International Industries, and Skullcandy Inc.

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Wireless Earphone Market Segmentation

By Type

Earbuds Earphone
Canal Earphone

By Connectivity

Wi-Fi
Bluetooth
NFC

By Application

Music & Entertainment
Sports & Fitness
Gaming & Virtual Reality

By Distribution Channel

Online
Offline

Supermarket/Hypermarket
Multi-brand Electronic Stores
Exclusive Showrooms
Others

Regions

North America
Europe
Asia Pacific
MEA
South America

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