Enhanced Functionalities and Capabilities are boosting True Wireless Headphones Market

Arizton’s recent market research report on the global true wireless headphones market identifies Apple, Sony, Bragi, Jabra, and Samsung as the leading vendors in the market. This research report provides a comprehensive industry study, trend forecasts, and competitive analysis. The research study segments the market by products (smart and non-smart), price range (premium, medium, and low), distribution channels (online and retail), and geography (APAC, Europe, North America, Latin America, and MEA).

The global true wireless headphones market is expected to generate approximately $15 billion by 2024, growing at a CAGR of more than 26% during 2018–2024. The market research report offers market share in million units.

The evolution of technology and the growth of music streaming services have revolutionized both the music and headphone industries. Also, fitness and sports enthusiasts are procuring high-quality true wireless headphones that are compatible with portable devices for enhanced audio experience.

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The true wireless headphones market is divided into four major segments - product types, price range, distribution channels, and geography.

The smart true wireless headphones segment occupies the largest share in the market

Smart true wireless headphones are equipped with functions such as ambient sound controls, assisted hearing, touch & tap controls, onboard memory chips, proximity sensors, biometric monitoring, onboard storage, language translation, fitness tracker, gesture recognition, and settings via mobile applications. Bragi, one of the first companies to offer true wireless earbuds, uses technology from iTranslate to offer the language translation feature in its true wireless headphones. The global smart true wireless headphones market is expected to reach over $10 billion by 2024, growing at a CAGR of around 30%. The sports and fitness segment witnessed an increased use of true wireless headphones in 2018. The increase in the number of smartphones is driving consumers to access music and video content on-the-go, thereby boosting the demand for convenient true wireless headphones. Smart true wireless headphones have witnessed major updates; vendors are increasingly enhancing product materials and ergonomics, thereby increasing convenience to users. Feature-loaded smart true wireless headphones are redefining the genre of wearables as they are integrating functionalities and capabilities of several electronic devices into true wireless headphones.

The medium range segment to grow at a promising CAGR during the forecast period

The medium range segment includes true wireless headphones that are priced between $50 and $99.99. These products offer some extra functionalities such as equalizer settings, multifunction buttons, better battery life, and reduction of external noises using one or more external microphones. These headphones have better voice quality and playback time than low-range true wireless headphones. The feature found in medium range true wireless headphones is a low degree of control over ambient sounds, equalizer settings and soundstage, and absence of accelerometers and sensors. The global true wireless headphones market by the medium range segment is expected to reach over $4.5 billion by 2024, growing at a CAGR of 30% during the forecast period. Chin-Best, Alfheim, Skybuds, Earin, Anker are the major vendors in this segment.

North America constitutes major demand for true wireless headphones in the global market

North America and Europe will remain the largest true wireless headphones markets, accounting for nearly one-third of the overall global demand in 2019. The high penetration of smartphones and the internet, urbanization, rising usage of digital media and the growing number of addressable consumers engaging in fitness and sports activities are propelling market growth during the forecast period. The growth of the North America marketis mainly influenced by the US. In North America, an estimated 93% of the population spends more than 25 hours per week listening to music. The rise in the number of music and video playback applications and a growing number of users that are streaming music online during their daily activities are expected to drive the sale of true wireless headphones. In terms of volume, the true wireless headphones market in North America is expected to reach over 50 million units by 2024, growing at a CAGR of around 35% during the forecast period. In August 2018, Apple’s AirPods accounted for over 70% of the true wireless headphones sold in the US. In terms of revenue, Apple accounted for 49% market share of the total wireless headphones market in US in 2018.

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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, JAM, and Xiaomi are identified as the other prominent vendors in the global true wireless headphones industry.

The complete overview of the latest market research report on the global true wireless headphones market by Arizton is now available.

The report offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions.

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