Wireless Earphone Market to Reach US$ 18.2 Bn by 2031; Penetration of Smart Devices to Spur Sales: TMR Study
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
Wireless Earphone Market: Key Drivers
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
Home Audio Equipment Market - The home audio equipment market is expected to surpass the value of US$ 82.07 Bn by the end of 2031, expand at a CAGR of 12.5% from 2021 to 2031
3D Audio Market - The global 3D audio market is expected to reach the value of US$ 22 Bn by the end of 2031, expand at a CAGR of 15.5% from 2021 to 2031
Background Music Market - The global background music market is expected to surpass value of US$ 2.3 Bn by the end of 2031, expand at a CAGR of 5.1% from 2022 to 2031
Consumer Electronics Market - The global consumer electronics market is expected to surpass the value of US$ 1 Trn by the end of 2031, expand at a CAGR of 8.5% from 2021 to 2031
Automotive Speaker Market - The global automotive speaker market is expected to expand at a steady CAGR of 3.6% during the forecast period
Power Bank Market - The global power bank market is expected to reach US$ 18.5 Bn by the end of 2031, It is estimated to grow at a CAGR of 6.1% from 2022 to 2031
Set-Top Boxes Market - The global set-top boxes market is expected to reach value of US$ 35.2 Bn by the end of 2031, grow at a CAGR of 6.4% from 2022 to 2031
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