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True Wireless Stereo Earbuds Market

Market Study on True Wireless Stereo Earbuds: Looks like Millennials Seek Active Noise Cancellation with Ergonomic Designs!

United States True Wireless Stereo Earbuds Market is projected to reach a valuation of US$ 168.2 Billion by 2033.

True Wireless Stereo Earbuds Market Outlook (2023 to 2033)

The Global True Wireless Stereo Earbuds Market is expected to reach a valuation of around US$ 522.0 billion by 2033. It is set to be valued at US$ 56.6 billion in 2023. Sales of true wireless stereo earbuds are likely to surge astonishingly, with the market expected to witness a CAGR of 24.9% from 2023 to 2033.

As per a study conducted by Persistence Market Research (PMR), the global market is projected to create an incremental opportunity of about US$ 465.5 billion in the next ten years. Demand for smart wearable items among athletes and everyday users is anticipated to rise as a result of rising per capita income in developed and emerging nations.

Together with an improvement in living standards, it is expected to result in high demand for true wireless stereo earbuds. This is a key driver anticipated to fuel market expansion.

Original equipment manufacturers (OEMs) are nowadays able to create compact, feature-rich products owing to ongoing advancements in the semiconductor industry. Demand for small assemblies in particular electronics such as smart earbuds would push sales. The necessity to reduce material prices is another driving force behind the quest for compact parts. These elements are projected to have a favorable effect on market expansion.

Due to technological advancements and miniaturization, electronic companies today can incorporate microchips and sensors into headphones and earbuds, making them smart devices. With the help of decreasing size of electrical sensors and circuits, manufacturers can also construct fashionable designs to appeal to young consumers. These factors would promote market expansion in the assessment period.

Likewise, earbuds are routinely used as hearing aids. Manufacturers are attempting tirelessly to implement hearing assistance functions into their earbuds so that individuals who have auditory impairments can use them.

Microchips enable users to design a unique sound ID based on their own ear profiles and listening skills. These advancements would give manufacturers the ability to add new features to their products, which is projected to have a favorable impact on market expansion throughout the forecast period.

Attributes

Key Insights

True Wireless Stereo Earbuds Market Size (2022)

US$ 42.0 billion

Estimated Market Size (2023)

US$ 56.6 billion

Projected Market Value (2033)

US$ 522.0 billion

Value-based CAGR (2023 to 2033)

24.9%

USA Value-based CAGR (2023 to 2033)

23.6%

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How Will Sales of True Wireless Stereo Earbuds between 2018 and 2022 Outpace the Demand from 2023 to 2033?

Persistence Market Research, a renowned market research firm, declared that the global true wireless stereo earbuds market is anticipated to exhibit growth at a CAGR of 24.9% from 2023 to 2033. The market witnessed a CAGR of 34.6% in the historical period between 2018 and 2022.

Demand for smart devices to engage an individual while working out is increasing as consumers place more importance on their fitness and health. Rising desire for stylish wearable electronics and popularity of video game consoles among sports fanatics are driving the adoption of wireless headphones.

Given that they are comfortably ergonomically designed and firmly attached, these earbuds are definitely preferable. As they have longer battery lives than in the past, they can be utilized for more than just a few stops on the train before requiring a quick charge.

One thing is brutally clear from all of this: going wireless is more alluring than ever. Modern customers are fast adopting portable headphones with features such as echo reduction and noise cancellation.

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Which are Key Trends Positively Affecting True Wireless Stereo Earbuds Demand?

Progress of Bluetooth technology, also known as true wireless stereo, has led to the development of cordless and very small wireless earbuds (TWS). Very small wireless earbuds differ from other wireless accessories.

They do not require physical connections to media sources, but still need them to enable communication between a device's numerous components. Bluetooth earbuds are popular in the gaming industry as players play video console games. They do not need to use wired earphones while streaming these games. For instance, a total of 310 million true wireless stereo sets were sold in 2021 because of rising popularity of the game-streaming and music industries.

Earbuds have adaptable designs for maximum comfort. At present, they also have longer battery lives than in the past, allowing them to endure for more than just a few stops on the train before requiring a quick charge.

Noise cancellation features provided by Apple ear-pods have gained immense popularity and have helped them gain more than 50% of share in the field of true wireless stereo sets. This high market share was gained by Apple owing to the launch of second-generation AirPods 2019.

For instance, in Q2 of 2021, around 15.5 million Apple earbuds sets were sold and in Q2 of 2022, 17.5 million Apple earbuds sets were sold. Hence, this shows the immense popularity and demand growth for true wireless stereo earbuds.

In Q2 of 2022, as compared with that of Q2 of 2021, true wireless stereo earbuds sets sales grew by a massive 216% and hit a volume of 7 million. Such massive growth of sales in emerging economies is mainly due to high popularity of video games streaming, musical applications, and use of social media platforms.

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Which Factors May Hamper True Wireless Stereo Earbuds Sales Worldwide?

One of the biggest drawbacks of true wireless stereo earbuds is that they cannot produce the clear sound that wired headphones can. Few individuals prefer wired headphones since they can have a high sound quality and do not require charging, even though they may adore having wireless headphones with them at all times. Wired headphones are still an ideal choice for several people as they offer superior sound quality at a relatively low cost.

After a few months of frequent use, the battery starts to degrade. The battery's capacity degrades by roughly 1% after extended use. When using wireless earbuds excessively such as for prolonged periods of time while working in difficult circumstances or on an airplane, damage may result.

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Country-wise Insights

Why are Sales of True Wireless Stereo Earbuds Surging in the USA?

The USA true wireless stereo earbuds market is projected to reach a valuation of US$ 168.2 billion by 2033. The country witnessed a CAGR of 32.7% in the historical period and is set to showcase 23.6% CAGR in the estimated period.

High-end wireless earphones are becoming increasingly popular in the USA. Emergence of fake products is one of the prominent barriers to the USA market. Due to easy availability of fake goods in gray markets at astronomically low rates, demand for premium products from leading players may soon be hampered. Another aspect that can restrict growth is rising acceptance of smart and neckband wireless earbuds.

Will True Wireless Stereo Earbuds Showcase Immense Popularity in the United Kingdom?

The United Kingdom true wireless stereo earbuds market is expected to be worth US$ 26.4 billion and create an absolute dollar opportunity of US$ 23.3 billion by 2033. The United Kingdom is anticipated to exhibit growth at a CAGR of 23.9% from 2023 to 2033. It witnessed a 33.1% CAGR from 2018 to 2022.

Increasing popularity of AirPods has played a significant role in driving true wireless stereo earbuds demand in the United Kingdom. Numerous smartphone makers have introduced wireless earphones that are specifically compatible with their in-house models. Due to the substantial rise in terms of the frequency of smartphone replacement cycles, several consumers are seen buying connected accessories.

How are True Wireless Stereo Earbuds Manufacturers Faring in China?

China true wireless stereo earbuds market is predicted to create an absolute dollar opportunity of US$ 40.8 billion in the assessment period. It is set to reach US$ 45.2 billion valuations by 2033. A CAGR of 26.0% is expected for the country in the forecast period from 36.5% CAGR recorded between 2018 and 2022.

Presence of numerous leading consumer electronics manufacturers in China with availability of low-cost labor and raw material would augment true wireless stereo earbuds demand. In February 2023, for instance, OnePlus launched OnePlus Buds Ace in China. It is equipped with BassWave Dynamic Bass for providing listeners with rich bass. It also features active noise cancellation.

Is South Korea Set to be a Prominent Hub for True Wireless Stereo Earbuds Companies?

South Korea true wireless stereo market is projected to be valued at US$ 21.3 billion by 2033. It is anticipated to exhibit a CAGR of around 25.4% in the forecast period from 35.5% CAGR showcased in the historical period. An incremental opportunity of US$ 19.1 billion is expected for the country by 2033.

As numerous smartphone manufacturers in South Korea switch to Ingress Protection or International Protection (IP68) regulations and stop supporting earphone jacks, demand for true wireless stereo earbuds would increase. This presents chances for vendors that want to sell their goods in the wireless market. In luxury and high-midrange products, when brand awareness is essential, an extended warranty option might help carve out a specific market niche.

Category-wise Insights

Which is the Highly Preferred Price Band of True Wireless Stereo Earbuds?

Based on price band, the US$ 100 to 199 segment is anticipated to dominate the global true wireless stereo earbuds market. It is projected to register a CAGR of 24.7% in the forecast period, says Persistence Market Research.

The segment’s share has mainly been attributed to suppliers such as Jabra, Samsung Electronics Co. Ltd., and Apple Inc. Over the projection period, Apple Inc. is expected to rule the worldwide wearables market. When work-at-home and entertainment-in-place became the norm in various households, demand for true wireless stereo earbuds between the US$ 100 to 199 price range surged.

Which Sales Channel will Showcase High Popularity?

In terms of sales channel, the offline segment is projected to remain at the forefront by exhibiting a CAGR of 24.5% from 2023 to 2033. The offline sales channel underwent a significant transformation as a result of debut of true wireless stereo earbuds.

It is caused by rising popularity of cell phones and widespread use of the internet. Need to adapt to unique and effective earbuds has also triggered the demand for earbuds though offline sales channels such as electronics stores and malls.

Competitive Landscape

The worldwide true wireless stereo earbuds market is quite competitive as manufacturers are primarily focused on integrating distinctive features to improve the auditory experience. For example, the AirPods from Apple Inc. include a unique vent design that balances pressure inside the ear to reduce discomfort. It is common among in-ear models.

Sales of the AirPods have significantly increased since their release in December 2016. As opposed to numerous luxury brands, local businesses and suppliers with roots in China who offer distinctive features at competitive rates are poised to gain a significant market share.

A few of the recent developments in the true earless stereo earbuds market are:

  • In January 2022, Apple, a California-based technology company launched the Beats Fit Pro TWS (true wireless stereo) earphones. Technologies such as active noise cancellation (ANC), spatial audio, and Apple's H1 chip were included in the new Beats Fit Pro. They also have quick charging capabilities. It is claimed that a 5-minute charge will provide an hour of music playback, and the case will offer an additional 24 hours of use.
  • In August 2022, Sony, a Japan- based technology company announced the launch of its new true wireless Sony LinkBuds WF-L900 earphones. Its touch features can be used without ever touching the earpieces. The Sony LinkBuds are positioned below Sony WF-1000XM4 in the true wireless earphones range in India. They work with Sony Headphones Connect.
  • In August 2022, Samsung Electronics, a South Korea-based technology company announced the launch of Galaxy Buds 2 Pro. These new earbuds work with Samsung Galaxy cell phones running One UI 4.0 or using Android 12 platform to provide 24-bit Hi-Fi audio.

Scope of the Report

Attribute

Details

Estimated Market Size (2023)

US$ 56.6 billion

Projected Market Valuation (2033)

US$ 522.0 billion

Value-based CAGR (2023 to 2033)

24.9%

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

Value (US$ billion)

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Middle East & Africa

Key Countries Covered

  • USA
  • Canada
  • Brazil
  • Mexico
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Nordic
  • Russia
  • Poland
  • China
  • India
  • Thailand
  • Indonesia
  • Australia and New Zealand
  • Japan
  • Gulf Cooperation Council Countries
  • North Africa
  • South Africa
  • Others

Key Segments Covered

  • Price Band
  • Sales Channel
  • Region

Key Companies Profiled

  • Apple Inc.
  • Samsung Electronics Co.
  • Bose Corporation
  • Harman International Industries
  • Sony Corporation
  • Xiaomi
  • Sennheiser Electronic GmbH & Co.
  • Boat Lifestyle
  • Huawei Technologies Co.

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competitive Landscape
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

True Wireless Stereo Earbuds Market Outlook by Category

By Price Band

  • Below US$ 100
  • US$ 100 to 199
  • Over US$ 200

By Sales Channel

  • Offline
  • Online

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

- Companies Covered in This Report -

  • Apple, Inc.
  • Samsung Electronics Co., Ltd.
  • Amazon.com, Inc.
  • Xiaomi Corporation
  • Sony Corporation
  • Boat-Lifestyle
  • Huawei Technologies Co., Ltd.
  • Shure, Inc
  • Sennheiser Electronic GmbH & Co. KG
  • Bose Corporation

- Frequently Asked Questions -

The global true wireless stereo earbuds industry is set to be worth more than US$ 56.6 billion by 2023.

The global true wireless stereo earbuds industry is projected to increase at a CAGR of around 24.9% between 2023 and 2033.

The global true wireless stereo earbuds industry grew at a CAGR of around 34.6% between 2018 and 2022.

Expansion of the global gaming industry and need for listening to music & watching videos are anticipated to be key trends in the true wireless stereo earbuds industry.

China true wireless stereo earbuds industry is anticipated to exhibit a CAGR of 26.0% between 2023 and 2033.

Between 2023 and 2033, it is anticipated that sales of true wireless stereo earbuds in the USA will increase at a CAGR of around 23.6%.

South Korea and Japan true wireless stereo earbuds industries are projected to exhibit CAGRs of 25.4% and 24.2%, respectively in the estimated time frame.

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