The Business Research Company’s Wireless Earphones Global Market Report 2020-30: COVID-19 Implications And Growth
LONDON, GREATER LONDON, UK, March 31, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
A rising preference for wireless devices connected with the improved use of smart technology is predicted to fuel demand for wireless earphones over the forecast period. The rapid technological advancements in portable consumer electronic goods including earphones are witnessing significant innovations leading to vast transformation in sound output, appearance, connectivity, and portability. The surge in affordability of wireless connectivity and the introduction of new variants with value-added features are shifting customers towards wireless earphones. According to the Cellular Telecommunications Industry Association (CTIA), around 80% of customers think that wireless services are a necessity. In addition to this, approximately 5.1 billion people are using mobile worldwide and 89% of people prefer to keep their smartphones within their reach globally. Thus, the growing preference for wireless devices along with increased use of smart technology is expected to drive the growth of the wireless earphones market.
The wireless earphones market consists of sales of wireless earphones by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing wireless earphones. Wireless headphones are connected to a device such as a computer, television, stereo speaker, smartphone, gaming console, and other electronic devices without using a cable or wire. Wireless earphones transmit audio signals through radio or IR (infrared) signals, depending on the device. They connect to the device via Bluetooth technology and Wi-Fi. Only goods and services traded between entities or sold to end consumers are included.
The global wireless earphones market is segmented by product type into in-ear, neckband, TWS (true wireless stereo), others, by connectivity into Wi-Fi and Bluetooth earbuds market, by application into music and entertainment, sports and fitness, gaming and virtual reality, and by distribution channel into hypermarkets/ supermarkets, multi branded stores, exclusive stores, online channels.
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The global wireless earphone market is expected to grow from $4.56 billion in 2020 to $4.65 billion in 2021 at a compound annual growth rate (CAGR) of 2.01%. The slow wireless earphone market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The wireless earphones market is expected to reach $5.69 billion in 2025 at a CAGR of 5.2%.
North America accounts for the largest wireless earbuds market share. Asia Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the wireless earphones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major players in the wireless earphones market are Apple Inc., Bose Corporation, Sony Corporation, Koninklijke Philips, Sennheiser Electronic, Samsung Group, LG Electronics, Skullcandy, Panasonic Corporation, Plantronics Inc., Shure Incorporated, Japan Victor Company (JVC), One Plus Technology Co. Ltd., Logitech International S.A., Harman International Industries Inc., Zebronics India Pvt. Ltd., Motorola Solutions Inc., HTC, Nokia, LG Electronics, and Fujikon Industrial Holdings Ltd.
Wireless Earphones Global Market Report 2020-30: COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provides wireless earphones market overview, forecast wireless earphones global market size and growth for the whole market, wireless earphones market segments, and geographies, wireless earphones global market trends, wireless earphones market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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