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Wireless Earphones Global Market Report 2020-30: COVID-19 Implications And Growth

Wireless Earphones Global Market Report 2020-30: COVID-19 Implications And Growth

  • September 2021
  • 175 pages
  • ID: 6151694
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

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.

The global wireless earphones 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 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 market is expected to reach $5.69 billion in 2025 at a CAGR of 5.2%.

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 main types of wireless earphones are in-ear, neckband, and TWS (True Wireless Stereo) and are connected by Wi-Fi and Bluetooth. They are used in music and entertainment, sports and fitness, gaming and virtual reality and are available at hypermarkets/supermarkets, multi branded stores, exclusive stores, and online channels.

North America was the largest region in the wireless earphones market in 2020.Asia Pacific is expected to be the fastest growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The limited connecting accessibility in regards to distance range from the device is restricting the growth of the wireless earphone market.Wireless earphones are connected to devices using a procedure called pairing.

Most of the wireless earphones with class 2 have a standard operating of around 33 feet, only a couple of wireless earphones of class 1 have a range up to 300 feet.Earphones within this range connections are crystal clear.

For example, Sony MD-RXB50AP uses a greater frequency range of 4-24,000 Hz than Audio-Technica SPORT2BK with 15-24,000 Hz.A significant change between the lowest and highest values signifies a larger range of coverage.

Thus, poor connecting accessibility from the device is likely to hinder the growth of the wireless earphone market in the coming years.

In May 2018, VTech Holdings Limited, a Hong Kong-based company mainly involved in the designing and manufacturing of consumer electronic products acquired the manufacturing facility of Pioneer Technology, a subsidiary of Pioneer Corporation for approximately $21.1 million. The acquisition will enhance VTech Holdings Limited’s contract manufacturing services position as an audio equipment manufacturer. Pioneer Corporation is a Japanese multinational corporation producer of electronic products including wireless earphones for the consumer and professional markets.

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.

Technology advancements are a leading trend gaining popularity in the wireless earphones market.Major players operating in the market are continuously focusing on technological innovations to meet customer’s requirements and expand the company’s customer base.

For instance, in August 2020, Sony introduced the WF-1000XM3 true wireless earphones with active noise cancellation in India.These earphones were launched globally in 2019.

Sony WF-1000XM3 comes with a proprietary QN1e processor for active noise cancellation. The earphones have 6mm, dynamic drivers, a frequency response range of 20Hz to 20,000Hz, Bluetooth 5.0 for connectivity, and support for the SBC and AAC Bluetooth codecs.

The countries covered in the wireless earphones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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