Wireless Earphone Market By Product Type (Earbuds, Canal Earphone and On-ear Earphone), By Connectivity Type (Wi-Fi and Bluetooth), By Application (Music & Entertainment, Sports & Fitness, Gaming and Others) - Growth, Future Prospects and Competitive Landscape, 2019 – 2027

The global wireless earphone market was valued at US$ 5.5 billion in 2018 and is expected to grow at a 7.0% CAGR from 2019 to 2027. Wireless earphones are rapidly outnumbering their soon-to-be obsolete wired counterparts due to the increasing demand for and adoption of wireless technologies worldwide. The popularity of wireless technology-enabled solutions has rapidly increased in the recent past owing to the convenience they offer, especially in terms of portability.

The user-friendly and convenient features of wireless earphones are constantly increasing demand for wireless earphones in industries such as sports and fitness, music and entertainment, gaming and virtual reality, and so on. High-resolution audio compatibility, beat response control, digital noise cancellation, etc., are some of the features enhancing the demand for wireless earphones, which in turn is accelerating the market's growth worldwide.

Market Snapshot

Music and entertainment accounted for the largest market share in 2018.

In 2018, music and entertainment accounted for the largest market share in the global wireless earphone market. The segment is likely to grow at a significant rate during the forecast period from 2019 to 2027. The evolution of the music and entertainment industries is one of the major factors driving the growth of this segment. Earphones have today become an integral part of everyone's music.

Consumers increasingly use earphones for answering calls, listening to music, streaming digital audiobooks, listening to podcasts, etc., while keeping their hands free. The wireless earphones' comfort and superior sound quality are two of the most important factors facilitating their demand. The introduction of smart technology that provides features for controlling ambient sound and delivering a personalized listening experience is further expected to enhance the market growth in the music and entertainment industries.

North America garnered the largest market share in 2017.

The global wireless earphone market, based on geography, was led by North America in 2018 and is likely to remain dominant throughout the forecast period from 2019 to 2027. The growth of this region is mainly accredited to the increasing technological advancements and innovation in earphone design.

The ever-increasing penetration of smart devices is yet another major factor driving the market in the region. Moreover, the presence of some prominent players, including Apple Inc., Bose Corporation, Plantronics, Inc., Shure Incorporated, and Skullcandy, Inc., is increasing and promoting the growth of wireless earphones in the region, thereby accelerating the product demand.

Competitive Insights

Wireless earphone manufacturers are adopting strategies like new product development and partnerships to cater to the needs of their customers and gain a competitive advantage over other players.

The major players in the wireless earphone market include Apple Inc., Bose Corporation, Harman International Industries, Inc., Koninklijke Philips N.V., LG Electronics, Motorola Mobility, Plantronics, Inc., SAMSUNG, Sennheiser Electronic GmbH & Co. KG, Shure Incorporated, Skullcandy Inc., and Sony Corporation, among others.

Periods of History and Forecast

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to2027.

Report Scope by Segments

The wireless earphone market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global wireless earphone market based on product type, connectivity, application, distribution channel, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

• What was the size of the wireless earphone market in 2018, and what is the forecast up to 2027?
• What are the key factors driving the global wireless earphone market?
• What are the key market trends and high-growth opportunities observed in the wireless earphone market?
• What are the drivers of the wireless earphone market?
• Which is the largest regional market for the wireless earphone market?
• Which segment will grow at a faster pace? Why?
• Which region will drive the market's growth? Why?
• Which players are leading the wireless earphone market?
• What are the sustainability strategies adopted by the key players operating in the market?

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