According to a new study by MarkNtel Advisors, the Global Wireless Earbuds Market is expected to witness around 21.5% CAGR during 2021-26. The market growth primarily attributes to the mounting number of smartphone users, the emergence of advanced sound transparency technologies, and the burgeoning disposable income of consumers, especially in countries like China & India.
Moreover, the soaring demand for wireless earbuds among the working population and sports enthusiasts, coupled with the easy availability & highly affordable prices of wireless earbuds manufactured by companies like Xiaomi, Oppo, and Vivo, is also projected to boost the market during 2021-26, further states the research report, “Global Wireless Earbuds Market Analysis, 2021.”
According to the research report, the Global Wireless Earbuds Market, based on the Type, segments into:
Of both, the In-Ear segment is projected to dominate the market with the largest share during 2021-26. The paradigm shifts of consumers from On-Ear to In-Ear earphones have been witnessed over the past few years. The accelerated demand for In-Ear buds is primarily due to the trendsetter ‘AirPods’ launched by Apple in 2016. The easy portability due to the small size & lightweight, coupled with the incredible sound quality, are the key aspects driving the demand for In-Ear buds at an astronomical pace.
Several companies & smartphone OEMs have entered the In-Ear wireless earbuds market by launching technologically advanced products to remain competitive. Moreover, their soaring demand among gym enthusiasts and the increasing number of smartphone users are other critical factors projected to place lucrative opportunities for the market players that manufacture In-Ear buds during 2021-26.
For instance, in 2021, LG launched its Truly Wireless Earbuds, HBS-FN7 & HBS-FN6, equipped with self-sanitizing technology. They come with a UVnano charging cradle with ultraviolet light that sanitizes the earbuds, thereby eliminating 99.9% bacteria while charging.
“Global Wireless Earbuds Market Analysis, 2021” highlights insights on the market potential & opportunities, along with business strategies to enhance the overall market growth. The report offers an overview of leading market players and their recent developments. Moreover, the report provides incredible market opportunities & emerging trends to help stakeholders make appropriate decisions before investing.
Asia-Pacific Wireless Earbuds Market to Witness Fastest Growth During 2021-26
The prime factor driving the Asia-Pacific Wireless Earbuds Market is the burgeoning demand for on-the-go music due to the mounting smartphone penetration in China & India. Additionally, the entry of foreign players providing premium products with an excellent build quality & after-sales service is also fueling the regional market revenue.
Further, the mounting awareness among the middle-income population about the abundant availability of various wireless earbuds is another crucial aspect expected to contribute to the regional market growth in the coming years.
Key Questions Answered in the Study
According to MarkNtel Advisors, the leading players in the Global Wireless Earbuds Market include Boat, Jabra, OnePlus, Amazon, Apple Inc., Skullcandy, Sennheiser, JBL Company, Bang & Olufsen, Sony Corporation, Bose Corporation, Cambridge Audio, Bowers & Wilkins, Koninklijke Philips NV, Panasonic Corporation, and Logitech International SA.