Wireless Earphone Market Size, Share & Trends Report

Wireless Earphone Market Size, Share & Trends Analysis Report By Application (Virtual Reality, Music & Entertainment), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Jun, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68038-745-2
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 80

Report Overview

The global wireless earphone market size was valued at USD 2.17 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2020 to 2027. The market is majorly driven by the widespread adoption of wireless earphones among consumers for improved audio quality, rising internet penetration, multitasking while listening to music, and advancement in mobile technology, resulting in the introduction of smart and user-friendly devices. In addition, technological advancements have led to the emergence of notch-less smartphones, which is expected to support the demand for wireless earphones. In addition, rising demand for fashionable and attractive designs is expected to boost product sales. Furthermore, advent of advanced technologies such as Active Noise Cancellation (ANC), which helps to eliminate background noises resulting in enhanced sound quality, is expected to result in the introduction of compatible wireless earphones, thereby contributing to the market growth.

U.S. wireless earphone market size

The market for wireless earphones is anticipated to witness significant growth over the forecast period owing to technological advancements, such as Bluetooth and W-Fi. A number of startups and well-established companies, such as Samsung Electronics, Bose Corporation, and Sony Corporation, are focusing on developing innovative products. This is further expected to boost the demand for wireless earphones.

Technological innovations integrated in the manufacturing process are helping the brands to attract the large consumer base toward wireless earphones. Features such as noise cancellation and improved wireless connectivity are the major modifications incorporated in the products, thereby ramping up its adoption among the millennials. Furthermore, increasing adoption of smartphones and access to the internet are paving the way for manufacturers to become a potential entrant in this market.

Earphones transforming into multifunctional smart gadgets will boost the growth of the market. The consumers are increasingly using wireless earphones for various purposes, such as listening to music, audiobooks, stream digital podcasts, and receiving calls while keeping their hands free. Continuous change in consumer preferences, along with rapid technological advancements, is resulting in a surge in product miniaturization, which is fueling the traction of wireless earphones. The ability of these devices to focus on the comfort of the consumers and sound quality is one of the key factors encouraging high adoption of wireless earphones.

Application Insights

In terms of revenue, music and entertainment dominated the market for wireless earphones with a share of 33.8% in 2019. This is attributed to the widespread availability of Wi-Fi that enables consumers to listen to music or watch videos both indoor and outdoor. Moreover, the culture of listening to music while working or relaxing the mind has turned out to be a major factor driving the adoption of wireless earphones, especially among the millennials and teens. Moreover, consumer preference for enhanced audio experience can be associated with high demand for wireless earphones for this music and entertainment application.

Virtual reality is expected to witness the fastest growth over the forecast period. The rising need to enhance the VR experience is driving the demand for wireless earphones. For instance, in April 2016, Plantronics, Inc. collaborated with Sony Corporation to design headphones to enhance the VR experience with PlayStation VR. Moreover, the fitness application is anticipated to witness considerable growth in the future on account of rising usage of earphones in gyms and fitness centers.

Distribution Channel Insights

In terms of revenue, offline distribution channels dominated the market for wireless earphones with a share of 53.4% in 2019. This is attributed to the ability of the offline stores to exhibit a detailed analysis of the technology infused in the product to give a practical experience of the same. For instance, Marshall Amplification PLC, Xiaomi Corp., Apple Inc., and IKEA owned their retail outlets across all regions to provide easy accessibility and convenience to consumers.

Global wireless earphone market share

Online channels are projected to register the fastest CAGR of 6.1% over the forecast period owing to the growing population and rising adoption of smartphones. Technologically advanced countries such as the U.S. and U.K. play a prominent role in the segment growth. These channels help provide the latest devices. For instance, according to Internet World Stats, Asia accounted for 50.4% of internet users in the world in 2019. In addition, the rapidly growing e-commerce industry across the globe has enabled the customers to compare products offered by different companies, thereby augmenting online sales. E-commerce portals, such as Amazon, Alibaba, eBay, and Flipkart, offer the latest products at discounted prices, along with value-added services, including easy returns and Cash-On-Delivery (COD).

Regional Insights

North America dominated the market for wireless earphones with a share of 30.5% in 2019. This is attributed to the region’s highest internet penetration rate of 89.1% at the global level is expected to remain a favorable factor. High market visibility of smart Bluetooth speakers and smart home systems in the U.S. and Canada is projected to be a key trend. Furthermore, preference for Wi-Fi- and AI-enabled Bluetooth speakers plays a prominent role in the regional market growth.

Asia Pacific is expected to exhibit the fastest CAGR of 7.1% over the forecast period. Shifting preference toward technology-led premium products in emerging countries, such as India and China, is boosting the regional market growth. Rising sales of smart devices, such as smartphones, tablets, and phablets, in the region, are also expected to result in an increased demand for on-the-go music, which, in turn, will promote the usage of wireless earphones.

Key Companies & Market Share Insights

The market for wireless earphones has been characterized by high competition with the presence of a large number of domestic and international players, thus resulting in a fragmented market. The global market has been witnessing the entrance of many new players offering varied products. The introduction of wireless earphones and significant adoption of the product among consumers have been intensifying the market competition. The established players are launching new products integrated with smart and intelligent features and abilities to sustain the competition in the market. Some of the top companies are also offering language translation and augmented hearing abilities to gain a larger share in the global market. Some of the prominent players in the global wireless earphone market are:

  • Apple Inc.

  • Bose Corporation

  • Sony Corporation

  • Samsung

  • JVC

  • OnePlus

  • Jaybird

  • Beats

  • Shure Inc.

  • Sennheiser electronic GmbH & Co. KG.

Wireless Earphone Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 2.29 billion

Revenue forecast in 2027

USD 3.41 billion

Growth Rate

CAGR of 5.8% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; MEA

Country scope

U.S.; U.K.; Germany; China; India; Brazil; South Africa

Key companies profiled

Apple Inc.; Bose Corporation; Sony Corporation; Samsung; JVC; OnePlus; Jaybird; Beats; Shure Inc.; Sennheiser electronic GmbH & Co. KG.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global wireless earphone market report on the basis of application, distribution channel, and region:

  • Application Outlook (Revenue, USD Million, 2016 - 2027)

    • Gaming

    • Fitness

    • Virtual Reality

    • Music & Entertainment

  • Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)

    • Online

    • Offline

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

    • Europe

      • Germany

      • The U.K.

    • Asia Pacific

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

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