The "Wireless Headphones Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The wireless headphones market was valued at US$6.709 billion in 2020. The market is projected to grow at a CAGR of 10.33%, to attain a value of US$13.352 billion by 2027.
The rapid adoption of technology has led to the development of new and advanced products. In addition, the miniaturization of these devices is leading to the wide adoption of wireless headphones for various purposes that include fitness, gaming, calling, and others.
Furthermore, there is also a substantial increase in the gaming population due to the rapid penetration of smartphones and the internet. All these factors are expected to collectively contribute to the wireless headphone market growth during the next five years. Additionally, the booming adoption of wireless headphones in call centres, coupled with the growth in investments in new call centres, is further driving the demand for wireless earphones, thus bolstering the market growth during the next five years.
Moreover, the advancement of technology has led to the development of smartphones without headphone jacks, as the inclination of smartphone manufacturers to go wireless has also led to an upsurge in demand for wireless headphones, which is also considered a major factor boosting the market growth.
Also, the growing investments by the key market players in the form of R&D for the development and launch of new products, coupled with the entry of new players in the wireless headphones market, are some of the key factors propelling the opportunities for the market to grow in the near future.
In addition, the growing consumer requirements are also leading to the development and launch of products with considerably low prices to cater to the growing requirements of the middle-income group by various companies such as Realme and SkullCandy, among others, further showing the potential for the wireless headphones market to grow throughout the forecast period. However, the rising penetration of new market players in the truly wireless segment is also providing an impetus for the market to grow in the near future.
Similarly, other key smartphone manufacturers such as OnePlus, Mi, and Vivo, among others, have also announced their development of new truly wireless products and are expecting to enter the market by the end of 2020. This is also offering lucrative opportunities to the key market players to invest in the market and capture a greater market share over the other players.
In-Ear segment to hold a decent share
On the basis of type, the In-Ear wireless headphones market is projected to hold a substantial share in the market throughout the forecast period because of the high adoption of In-Ear products due to better sound quality, convenience, and durability, among others.
Furthermore, the Over-Ear segment is projected to witness healthy growth over the next five years, majorly on account of the growing gaming population coupled with the rising popularity of gaming consoles along with the integration of wireless connectivity technology in gaming consoles.
Online sales to show a robust growth
By the distribution channel, the offline segment is projected to hold a significant share throughout the forecast period primarily on account of the presence of a considerably large population base that is reluctant towards online shopping due to piracy and duplicity issues.
However, the online segment is projected to show robust growth during the next five years because of booming growth in the online sale of these products due to sale offers and dynamic pricing across the online platforms.
Bluetooth connectivity to hold a noteworthy share
By connectivity, the Bluetooth segment is expected to hold a notable share in the market throughout the forecast period due to the comparatively large number of product offerings by companies with Bluetooth connectivity.
Also, the recent development and launches of new Bluetooth products are one of the major factors supplementing the growth of this segment during the next five years.
APAC to show a healthy growth
The North American region is anticipated to hold a decent share on account of the early adoption of technology and the presence of key market players in the region.
The market in the Asia Pacific region will witness healthy growth on account of inclination towards the use of wireless headphones due to increasing purchasing power coupled with numerous domestic companies in countries like India and China, among others.
COVID-19 Insights:
COVID-19 had a positive impact on the global headphones market. The adoption of work-from-home models and online classes across several firms and educational institutions increased the consumption of wireless headphones. The growing penetration of OTT platforms globally further boosted the demand for high-quality, wireless headphones.
Competitive Insights
Prominent key market players in the wireless headphones market include Oppo, Boat, Sony corporation and Apple Inc., among others. These firms hold a significant market share owing to their good brand image and product offerings. The report also mentions recent deals and investments of different market players over the last two years.
Key Developments
- In May 2022, Sony launched a new wireless headphones series, WH-1000. The WH-1000XM4 headphones feature superior noise cancellation, superb sound quality, and smart listening that adapts to the user's behaviour and location.
- In January 2021, German-based Dixon partnered with Boat to produce twin wireless speakers. According to the contract, Dixon produced the products in an Indian facility ts high-quality audio equipment is renowned for its efficiency & style.,
- In December 2021, Oppo launched Enco M32 in the Indian market. According to the Guangdong-based firm, the product features a stable ear wing design that fits users' ears precisely. Oppo claims that a combination of comfort and longer battery life can provide users with more usage time.
Competitive Environment and Analysis
- Major Players and Strategy Analysis
- Emerging Players and Market Lucrativeness
- Mergers, Acquisitions, Agreements, and Collaborations
- Vendor Competitiveness Matrix
Company Profiles
- Apple, Inc.
- Bose Corporation
- Fujikon
- Koninklijke Philips N.V.
- Sony Corporation
- LG Electronics
- Skullcandy, Inc.
- Harman International Industries, Incorporated
- Panasonic Corporation
- Sennheiser electronic GmbH & Co. KG
Segmentation
By Type
- In-Ear
- Over-Ear
- On-Ear
By Connectivity
- Bluetooth
- Wi-Fi
- NFC
By Technology
- Active noise-cancelling headphones
- Headsets
- Ambient Sound Headphones
- Bone Conducting Headphones
By Distribution Channel
- Online
- Offline
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Europe
- Germany
- France
- United Kingdom
- Spain
- Middle East and Africa
- Saudi Arabia
- Israel
- Asia Pacific
- China
- Japan
- South Korea
- India
- Thailand
- Taiwan
- Indonesia
For more information about this report visit https://www.researchandmarkets.com/r/ptxpmf
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230112005394/en/
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