Wireless Earphone Market to Witness Growth at 36.10% CAGR during Forecast Period 2024-2032

Pune, India, June, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Wireless Earphone Market Research Report.

Market Synopsis:

The report that is recently published by Market Research Future (MRFR) projects that the global wireless earphone market will grow at 36.10% CAGR with a market valuation of USD 32.24 Bn by 2032. The disadvantages of wired earphones such as wire entanglement, wearing out of wires, etc. have catapulted the demand for wireless earphones.

The convenient and user-friendly features offered by the wireless earphones such as access through Bluetooth technology, infused microphone, volume control, etc. without the hassle of managing wires is one of the key drivers of the market. The widespread usage of smartphones, tablets, etc. is incessantly accelerating the demand for wireless earphones among all industries such as music & entertainment, sports & fitness, gaming & virtual reality, etc. The booming global music industry is also driving the growth of the market coupled with embracement of wireless technology. The prominent factors responsible for the revenue generation by the key players are lower price, and, easy adoption of technology.

Global Wireless Earphone Market Segmentation:

By components, the global wireless earphone market has been segmented into hardware, software, and, service.

By technology, the market for wireless earphone is segmented into Wi-Fi, NFC, Bluetooth, and, others.

By application, the wireless earphone market has been segmented into music & entertainment, sports & fitness, gaming & virtual reality, and, others.

By point of sale, the market has been segmented into multi-brand electronic stores, exclusive showrooms, hypermarket/supermarket stores, online sales channel, and, others.

Regional Analysis:

By region, the market for wireless earphone has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). North America market will hold a significant share in the market owing to the early adoption of the technology coupled with increasing demand. The wireless earphones are widely used across all the verticals such as music & entertainment, sports & fitness, gaming & virtual reality, etc. Some of the major players of the market are based out of this region, mostly the U.S. which is one of the major contributors in this region. The large-scale penetration of market by smartphones, tablets, and other electronic gadgets has amplified the demand for wireless earphones in Europe market. The market in this region exhibits salient growth across the projection period. Other factors responsible for the growth of market in this region are adoption of next-gen technology, bullish trend in the music industry, etc.

The Asia Pacific region is the largest emerging market for wireless earphones. It will receive major revenue contributions from countries like China, India, Japan, etc. This region will see growth in both demand and supply, thereby, multiplying the revenue generation during the assessment period. The Asia Pacific region will grow at the highest CAGR from 2024 to 2032. The growth of the global market will accelerate the demand in Middle East & Africa market.

Competitive Dashboard:

The competitive landscape of global wireless earphone market is flocked with both established players and new entrants. The competition is intensifying with the players focusing on amplifying market share through mergers & acquisitions, collaborations, innovation in production technology, responding to changing consumer behavior, etc. Some of the prominent market players profiled by MRFR in its report are Samsung Group (South Korea), Philips N.V (Netherlands), Motorola, Inc. (U.S), Apple Inc. (U.S), Harman International Industries (U.S), and, Skullcandy Inc. (U.S).

Apple has recently announced the launch of assistive hearing technology under Live Listen feature where with iPhone acts as a directional microphone for audio pickup and transmission. It amplifies hearing experience for users in noisy places. The feature will be compatible with iOS 12. With Live Listen, users can place their iPhone near a subject or sound source to home in on target audio, boosting fidelity in noisy environments.