The global wireless earphone market size is expected to gain momentum owing to the technology upgrade during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Wireless Earphone Market, 2024-2032.” Technology is a significant driving force in the market with different kinds of electronic products such as earbuds and headsets. Rising awareness regarding the availability of different types of consumer wearables with changing trends and increasing demand for smartphones and laptops is increasing the market expansion. For instance, according to the data presented by the International Monetary Fund, in 2019, 1371.1 million units of smartphones were shipped across the globe.
Information Source: https://www.fortunebusinessinsights.com/wireless-earphone-market-104650
Top Company in the Wireless Earphone Market
- Apple Inc.
- Philips Koninklijke
- Bose Corporation
- Sony Corporation
- The Samsung Group
- Sennheiser Electronics
- Skullcandy
- Zevva Electronics
- Harman International
COVID-19 Impact
Detrimental Impact of Covid-19 on Luggage Industry
Due to the current spread of the COVID-19 virus, work-at-home and entertainment-in-place have become the norm for many households, causing a surge in earbud demand. Consumer expectations for sophisticated capability will not change due to this new demand. Therefore device manufacturers must continue to emphasize app development and software updates to improve the user experience.
Segments
By technology, the market for wireless earphone is segmented into Bluetooth, wi-fi, near field communication, and others. On the basis of application, the market is segregated into entertainment & music, gaming & virtual reality, and fitness. On the basis of distribution channel, the market is categorized into specialty stores, online stores, brand stores, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
What does the Report Offer?
This report provides an analytical representation of the wireless earphones, current trends, and future projections to identify potential investment areas. The research includes data on major drivers, constraints, and opportunities and a thorough market share analysis. Market growth and profit rate, volume, manufacturing usage, and gross profit margin, shipping information, and other relevant elements are all included in the report.
Drivers & Restraints
Technological Advancement to Stimulate Growth
The global wireless earphone market growth is expected to grow due to the rising demand for innovation during the projected period. Advanced features of smart earphones include the capacity to track body vitals such as pulse rate and caloric burn during a workout. These items are specifically manufactured and marketed for athletes and health-conscious persons. Leading manufacturers incorporate active voice assistance technologies such as Siri and Alexa to provide users with the comfort of use.
REGIONAL INSIGHTS
Increasing Demand for Gaming Earphones to Promote Growth in North America
North America is expected to hold the largest global wireless earphone market share during the forecast period. This is due to the number of video gamers in countries such as the United States and Canada. Moreover, increasing indoor leisure trends such as video games, songs, social media is driving the market forward in the region.
Asia Pacific is expected to have a sizable share of the market. The increasing penetration of smartphones, rising awareness of the availability of different devices, and increasing disposable income among the population are major contributing factors in the region.
Competitive Landscape
Manufacturers Focus on R&D Investments to Strengthen their Position
The industry is very competitive, with a few big companies, numerous minor firms, and new entrants. Companies are moving toward supplying technologically integrated products resulting from significant investments in the research and development of wireless earphones, giving them a competitive advantage over their competitors.
Industry Development
- June 2020: EarFun Inc., a startup company in the audio products space launched EarFun Air CES2020, a waterproof, sweatshield technology-based earbud.
