In the world of devices with advanced technology, Wireless Earbuds are a trend. They are usually battery-operated and use low-powered radio signals for wireless transmission. A radio receiver, integrated into them, accepts the transmitted audio signals and converts them into the sound we hear.
The Global Wireless Earbuds Market is anticipated to grow at a CAGR of around 21.5% during the forecast period, i.e., 2021-26, says MarkNtel Advisors in their research report. The launch of AirPods by Apple in 2016 created a buzz in the market, due to which widespread adoption of wireless earphones among consumers augmented. The market is driven primarily by the rising internet penetration, the introduction of advanced technologies like Active Noise Cancellation (ANC) & Spatial Audio, and the burgeoning number of smartphone users.
The considerable decline in the prices of True Wireless Stereo (TWS) chipsets has also created the opportunity for new companies to enter the market & offer affordable earbuds. Moreover, to cater to the untapped market, industry leaders are focusing on expanding their footprints in the rapidly growing economies by introducing advanced wireless earbuds. Apple, Xiaomi, JBL, Samsung, Bose, & Sony are the most prominent players in the market. In 2021, Samsung launched the Galaxy Buds 2 TWS earphones in India, which have triple microphones, a better fit, & ANC, further states the research report, “Global Wireless Earbuds Market Analysis, 2021.”
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||North America: USA, Canada, Mexico|
|Europe: Germany, UK, France, Italy, Spain, Scandinavia|
|Asia-Pacific: China, India, Japan, South East Asia|
|South America: Brazil, and Argentina|
|Middle East & Africa: UAE, Saudi Arabia, Qatar, Israel, South Africa|
|Key Companies Profiled||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, Logitech International SA|
|Unit Denominations||USD Million/Billion|
Impact of COVID-19 on the Global Wireless Earbuds Market
The Global Wireless Earbuds Market, based on the Type, segments into:
Of both, the In-Ear segment captured the largest share of the Global Wireless Earbuds Market in recent years, and the same trend is likely to be followed during 2021-26. The surging demand for top-quality sound transparency, the emergence of advanced technologies in wireless earbuds like smart touch & noise cancellation, and the increasing inclination of the young population toward activities like running, gym, etc., are the prime factors behind the maximum sales of In-Ear Wireless Buds. The launch of smart products with innovative designs & enhanced comfort by top brands to maintain their position in the market also drives the sales of the segment cited above.
In 2021, Nothing, a London-based consumer technology company, launched its first product globally, Ear 1. These In-Ear buds, weighing just 4.7gms, use Clear Voice Technology & three high-definition microphones for loud & clear sound and offer up to 34 hours of battery life with its case. They are splash-proof, have Bluetooth 5.2, & also feature Active Noise Cancellation up to 30db.
Likewise, Xiaomi launched Redmi earbuds in India. They have a splash & sweat-proof design, Bluetooth 5.0 support, a precise infrared sensor, and up to 30 hours of battery life. Hence, all these aspects contributed to the burgeoning demand & sales of In-Ear buds, which, in turn, would lead them to dominate the market in the years to come.
By Distribution Channel:
On the other front, based on the Distribution Channel, the market bifurcates into:
Of both, the demand for Wireless Earbuds through the Online distribution channel is expected to witness the fastest growth during 2021-26. It attributes to the robust growth in the e-commerce sector, rapid internet penetration, and the launch of new & innovative products by companies via online platforms to cater to a large customer base.
Apart from this, e-commerce giants are also breaking into the market by introducing small & compact wireless earbuds. In 2021, Noise launched Bud VS102 true wireless earbuds in India through Flipkart and on its official website. Also, Amazon launched its Echo earbuds based on Bose's Noise Cancellation technology.
By creating a separate microsite for earbuds, online platforms are offering lucrative opportunities to the industry players to help them introduce their products. Moreover, the ongoing Work-from-Home & Online school education trends amidst the COVID-19 pandemic have also significantly surged the online sales of earbuds.
Wireless Earbuds Market to Witness Fastest Growth Rate in Asia-Pacific
The Asia-Pacific Wireless Earbuds Market is driven principally by the surging dependency on smartphones for entertainment, the robust presence of giant manufacturers, and the mounting demand for smart-tech in countries like China & India.
Additionally, the burgeoning penetration of foreign players providing premium products, expansion of consumer manufacturing electronic capabilities, and increasing demand for audiobooks & digital podcasts among millennials are also anticipated to flourish the market growth across Asia-Pacific in the years to come.
In 2021, Indian mobile brand, Lava International Limited, launched its first-ever true wireless earphones. Chinese players like Oppo, Realme, Xiaomi, & Vivo, and Indian players like boAt have emerged as strong competitors in the wireless earbud market across the region. Although the COVID-19 pandemic impacted the sales & production in early 2020 in China, the market swiftly stabilized and is now growing at its usual pace.
Surging Popularity of Wireless Earbuds Among Fitness & Sports Enthusiasts to Drive the Global Market
Mounting focus on health & fitness among consumers is encouraging the demand for smart devices to use during workouts. The burgeoning demand for fashionable wearable devices and the soaring popularity of gaming consoles among sports enthusiasts are boosting the adoption of wireless earbuds. Further, the growing number of companies launching earbuds with comfortable designs at affordable prices is another crucial factor likely to drive the market during 2021-26.
Counterfeit products and Gray Markets
Premium wireless earbuds are gaining popularity in the market. However, the presence of numerous counterfeit products worldwide is the biggest challenge for the Wireless Earbuds Market. Due to the availability of forged products in gray markets at amazingly reasonable prices, the demand for premium products of the leading market players might get hampered in the coming future. Further, the burgeoning trend of smart & neckband wireless earbuds is another factor that might restrict the market growth during 2021-26.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Wireless Earbuds Market is projected to grow at a CAGR of around 21.5% during 2021-26.
A. The demand for Wireless Earbuds through the Online distribution channel is expected to attain the highest CAGR during the forecast period.
A. Asia-Pacific shall continue to grow at the highest CAGR during 2021-26 and present immense opportunities to the ley leaders of the Global Wireless Earbuds Market.
A. The rising internet penetration, the introduction of advanced technologies, such as Active Noise Cancellation & Spatial Audio, and the burgeoning number of smartphone users are the key factors driving the market through 2026.
A. The impact of the Covid-19 pandemic on the Global Wireless Earbuds Market is expected to be positive over the forecast years, owing to the resumption of manufacturing activities, which is surging the production capacity.