March 29, 2020
Wireless Earphone

Wireless Earphone Market is growing at a CAGR of 7% between 2019-2027

The global market for wireless earphones is expected to grow by 7.0 per cent CAGR during the forecast period from 2019 to 2027.

The global market for wireless earphones was valued at US$ 5.52 billion in 2018 and is likely to see steady growth at CAGR of 7.0 per cent during the forecast period from 2019 to 2027. Wireless earphones provide a vast transformation of sound delivery, appearance, portability and connectivity. These earphones come with a bass-boosting technology and have noise-isolation features. Increasing the adoption of wireless connectivity solutions is one of the key factors driving the global market for wireless earphones. Technological advancements and constantly-changing consumer preferences for hassle-free connectivity have led to a surge in product miniaturization. As a result, wireless earphones have gained immense popularity over the last few years.

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The global market for wireless earphones, based on applications, was dominated by the music & entertainment segment in 2018. Comfort and superior sound quality offered by wireless earphones are one of the most significant factors that make it easier for the music & entertainment industry to demand. Consumers increasingly use earphones to answer calls, listen to music, stream digital audiobooks, podcasts, etc. while keeping their hands free. In addition, based on geography, North America led the market for wireless earphones in 2018. The growth of this region is mainly accredited by increasing technological advancements and innovations in the design of earphones. The ever-increasing penetration of smart devices is yet another major factor of the market in the region. In addition, the presence of a number of prominent players, including Apple Inc., Bose Corporation, Plantronics, Inc., Shure Incorporated, and Skullcandy, Inc., is increasing and encouraging the growth of wireless earphones in the region, accelerating product demand.

Major players in the market for wireless earphones include Apple Inc., Bose Corporation, Harman International Industries, Inc., Koninklijke Philips N.V., LG Electronics, Motorola Mobility, Plantronics, Inc., SAMSUNG, Sennheiser Electronic GmbH & Co. KG, Shure Incorporated, Skullcandy Inc., Sony Corporation, among others. The manufacturers of wireless earphones are adopting a number of strategies to thrive in a competitive environment. These leading players are increasingly concentrating on distinguishing their product offerings through clear and unique value proposals in order to succeed, survive and remain competitive with their equivalents. Players offer a number of features in order to deliver a personalized listening experience and control the features of ambient sound. New product developments, partnerships remain the most important strategies adopted by key players to gain an edge over others.

Key questions answered in this report

  • What was the market size of wireless earphone market in 2018 and forecast up to 2027?
  • What are the key factors driving the global wireless earphone market?
  • What are the key market trends and high-growth opportunities observed in the wireless earphone market?
  • What are the drivers of the wireless earphone market?
  • Which is the largest regional market for wireless earphone market?
  • Which segment will grow at a faster pace? Why?
  • Which region will drive the market growth? Why?
  • Which players are leading the wireless earphone market?
  • What are the sustainability strategies adopted by the key players operating in the market?

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