This market research report on the global true wireless headphones market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by product (smart and non-smart), by price range (premium, medium, and low), by distribution channel (online and retail), and by geography (APAC, Europe, North America, Latin America, and MEA).
The innovations in designs with better hearing level and higher control over the surrounding sound are fueling the demand in the global true wireless headphones market. The start-ups and small companies are focusing on delivering feature-rich products for tech-savvy consumers and gain a larger market share. The introduction of smart wireless headphones with sensors, chargeable carry case, capable of controlling playback, and activating voice assistants like Siri, Google Now, Cortana, and Alexa is gaining immense popularity in the global market. Several leading companies are investing in developing integrated assisted hearing technology to provide smart capabilities including enhanced music and listening experience, control over external sounds, and real-time language translation in the global market. The rising developments in the field of IoT and AI is strengthening the infrastructure for wearables. A rising number of tech startups are working to develop the integrations of wearables and voice as the prominent UI which is enabling the transition of earphones to become the central node in the future systems in the global market. The major brands are relentlessly trying to integrate technologically enhanced features to ward off market competition and attract the maximum number of consumers. The top players are offering several real-time solutions, rather than just streaming music and answering calls. The solutions offered include sound transparency, ambient noise control, speech elevation, and augmented hearing functionality. The increasing efforts towards integrating audio technologies and offering real-time solutions will lead to the transformation of the market. Tech giants such as Apple, Google, Samsung, and Sony are partnering with top market players such as Bose, JBL, and Jabra to offer innovative products in the global true wireless headphones market.
Fitness and sports activity enthusiasts are investing in high-quality wireless earbuds and sports headphones that are compatible with portable devices for high sound quality and enhanced the audio experience in the global market. Rapid globalization and an increasing number of mass media channels have made the millennial generation aware of a wide range of cultures and music genres, thereby boosting the demand for new devices in the market. The global true wireless headphones market is estimated to generate revenues of approximately $15 billion by 2024, growing at a CAGR of more than 26% during 2018-2024. This market research report also offers market share analysis in terms of volume (million units) during the forecast period.
The increasing investment in IoT by leading vendors is fueling the growth of the global true wireless headphones market. The rising penetration of IoT in the consumer durable industry is encouraging various brands to explore ways of using IoT to streamline manufacturing processes, SPM (supply chain management), and to deliver more personalized customer experiences in the global market. The leading companies are leveraging smart devices to collect, analyze, and share real-time data to understand customer preferences and improve their experiences in the market. The opportunities offered by smart technology products are seemingly game-changing for companies seeking a new level of efficiencies in the global market. The emergence of innovative technologies will have a profound impact on product design, development, manufacturing, marketing, sales, aftersales, and offering seamless and customized consumer experience in the market. The incorporation of IoT with wireless earphones will result in enhanced product usage mapping which can provide insights regarding the prospects in the global true wireless headphones market.
This market research report includes a detailed segmentation of the market by features, price range, channel, and geography.
True Wireless Headphones Market – By Features
Smart devices with real-time problem-solving capabilities are fueling the growth of the global true wireless headphones market
The global true wireless headphones market by features is classified into smart and non-smart. Smart devices segment dominated the total market share in 2018, growing at a CAGR of more than 29% during the forecast period. The use of smart features is redefining the genre of wearables by integrating features of various electronic devices into the tiny space of earbuds in the global market. The integration of modern, advanced features such as virtual assistants, voice as dominant UI, gesture recognition, biometric monitoring, onboard storage, and language translation that are capable of resolving real-time challenges will transform the market. Google launched its Pixel Buds with an inbuilt language translation feature to translate up to 40 languages. Bragi, one of the first companies to offer truly wireless earbuds, uses technology from iTranslate to offer the language translation feature in its earbuds. The increasing adoption of mobile applications that enable the users to monitor body vitals such as heart rate and calories burnt during a workout session is augmenting the evolution of the global true wireless headphones market.
Sales of non-smart true wireless headphones will witness continuous growth in terms of revenues and units sold due to consumer shifting to smart devices in the global market. The availability of online platforms in emerging countries will drive the demand for non-smart devices in the global true wireless headphones market.
True Wireless Headphones Market – By Price Range
E-commerce segment is fueling the sale of medium-priced products in the global true wireless headphones market
The price range segment in the global true wireless headphones market is divided into premium, medium, and low. The medium priced product is the fastest growing segment in the global market, at a CAGR of around 30% during the forecast period. The absence of innovative technologies in medium-ranged products such as higher IPX ratings and improved control over ambient sounds is resulting in reduced pricing in the global market. The wide availability of these products on e-commerce websites, headphone stores, and supermarkets is boosting the revenues in the global market. The vendors operating in this price segment also offer tap/touch controls, and the earbuds can be used to activate voice assistants such as Siri and Google Now. The incorporation of these features will contribute to the increase in the sales of products in this segment in the global market. The vendors of medium range products are in the position to incorporate added features into their products which allows keeping the prices constant or even increase a bit in the market. The increasing popularity of affordable smart devices will boost sales in the global true wireless headphones market.
The premium products offer the latest innovations and technological advancements to a wide range of consumers in the global market. Some vendors in the low-priced segment offer tap controls and the earbuds can be used to activate voice assistants such as Siri to attract consumers in the global true wireless headphones market.
True Wireless Headphones Market – By Distribution Channel
Social media influences sales across online distribution channels in the global true wireless headphones market
The global true wireless headphones market by distribution channel is segmented into online and retail. Online segment occupied more than 2/3rd of the total market share in 2018, growing at a CAGR of around 23% during the forecast period. The increasing number of OEMs’ e-commerce portals and online direct-to-consumer stores such as Amazon, eBay, Best Buy, Alibaba, and JD.com is contributing to the growing demand in this segment in the global market. Several leading vendors are promoting the concept and use of Bluetooth devices and technology through social media channels and attracting the maximum number of consumers in the market. The wide variety of options available in the global market is fueling the growth of the online distribution channel in the global market. The ease-of-accessibility and convenience afforded by online stores will contribute to the growing revenues in the global true wireless headphones market.
Specialty stores such as Apple Stores, Bose Stores, and Harman Lifestyle Showrooms are attracting the maximum number of consumers in the retail segment in the market. Staffs in supermarkets and shops are educated about the product features, their modus operandi, and their usage in the global true wireless headphones market.
True Wireless Headphones Market – By Geography
Japan, South Korea, and Australia will lead the adoption of these products in the global true wireless headphones market
The geographical segment in the global true wireless headphones market is categorized into APAC, Europe, North America, Latin America, and MEA. APAC is the fastest growing region in the global market, at a CAGR of over 39% during the forecast period. The low to medium price range products are finding high adoption in several APAC countries due to the presence of many vendors in East and Southeast Asia offering low-priced products. These products look like branded models and can stream music and answer calls which will create lucrative opportunities for top players in the APAC market. The advanced technological developments and the rise of new and domestic manufacturers selling products in online stores will lead to increased revenues in the APAC region and attract top companies to invest in the global true wireless headphones market. Japan, South Korea, and Australia will have the highest adoption rate across the APAC region during the forecast period. The presence of several Chinese vendors offering low-priced models that are capable of music streaming and answering calls and have improved features in terms of battery and playback time will lead to higher sales in the APAC market.
The high average disposable income of the population, the proliferation of smartphones, and the manufacture of the new products with advanced features are the main factors contributing to the growth of the North American market. The UK, Germany, and France in Europe are contributing to the revenues in the global true wireless headphones market.
Key countries profiled in the report are:
Key Vendor Analysis
The global true wireless headphones market is witnessing the diffusion of innovation of previous new technology products. The leading vendors are investing in making their products equipped with smart and intelligent features and abilities in the global market. The integration of language translation and augmented hearing features will boost the intensity of the competition in the market. The development of advanced products will help leading vendors attract the maximum number of consumers and gain a larger global true wireless headphones market share.
The major vendors in the global true wireless headphones market are:
Other prominent vendors in the global true wireless headphones market include Huawei, Nuheara, Bose, Sennheiser, Jaybird, Vi Technologies (Alpha Audiotronics), Rowkin, Avanca, Bang &Olufsen, Crazybaby, Earin, Meizu, Motorola, Waverly Labs, Mymanu, Master & Dynamic, Audio-Technica, Nokia, Gonoise, RHA, Sol Republic, JVCKenwood, Onkyo& Pioneer, Xiaomi, and JAM.
Key market insights include
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