Wireless Earphone Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029

Overview:

The global wireless earphone market was valued at US$ 6.29 Bn in 2020, expanding at a CAGR of 7.0% during the forecast period from 2021 to 2029. Wireless earphones are rapidly outnumbering their soon-obsolete wired counterparts due to the increasing demand and adoption of wireless technologies worldwide. Growing espousal of wireless technology-enabled solutions has rapidly increased in the recent past owing to the convenience they offer, especially in terms of portability. The user-friendly and convenient features offered by the wireless earphones is continuously accelerating the demand for wireless earphones amongst industries such as sports & fitness, music & entertainment, gaming & virtual reality, etc. High resolution audio compatibility, beat response control, digital noise cancelling, etc. are some of the features enhancing the demand of wireless earphones, which in turn is accelerating the market growth worldwide.

Music & Entertainment accounted for the Largest Market Share in 2020

In 2020, music & entertainment accounted for largest market share in the global wireless earphone market. The segment is likely to grow to at a significant rate during the forecast period from 2021 to 2029. The evolution of the music & entertainment industry is one of the major factor driving the growth of this segment. Earphones have today become an integral part of everyone’s music. Consumers increasingly use earphones for answering calls, listening music, stream digital audiobooks, podcasts, etc. while keeping their hands free. Comfort and superior sound quality offered by the wireless earphones is one of the most significant factor facilitating its demand. The introduction of smart technology that provides features for controlling the ambient sound and delivering a personalized listening experience is further expected to enhance the market growth in the music & entertainment industry.

North America Garnered Largest Market Share in 2019

The global wireless earphone market, based on geography was led by North America in 2020 and is likely to remain dominant throughout the forecast period from 2021 to 2029. The growth of this region is mainly accredited to the increasing technological advancements and innovation in the earphone designing. The ever-increasing penetration of smart devices is yet another major factor driving the market in the region. Moreover, the presence of some prominent players including Apple Inc., Bose Corporation, Plantronics, Inc., Shure Incorporated, and Skullcandy, Inc. is increasing and promoting the growth of wireless earphones in the region, thereby accelerating the product demand.

Competitive Insights

Wireless earphone manufacturers are adopting strategies like new product development and partnerships to cater the needs of their customers and gain competitive advantage other players. The major players in the wireless earphone market 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., and Sony Corporation among others.

Historical & Forecast Period

The research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2021 to 2029.

Key questions answered in this report

• What was the market size of wireless earphone market in 2020 and forecast up to 2029?
• 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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