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The true wireless stereo (TWS) earbuds market size is estimated to increase by USD 120.69 billion and grow at a CAGR of 27.3% between 2022 and 2027. True wireless stereo is defined as the technology that enables the use of completely wireless audio devices, including earbuds, without the need for any physical connections or cables. They are integrated with advanced features such as active noise-cancellation technology, AI translation function, high-resolution audio, 3D sound technology, and a heart rate sensor, which is attracting consumers. Market expansion hinges on various factors, including the widespread adoption of smart devices, escalating per capita income in both developed and developing nations and the rising popularity of smart wearable products, particularly among athletes and individuals. However, this growth faces obstacles such as concerns over the perceived health risks associated with true wireless stereo earbuds, their elevated price points, and the prevalence of counterfeit alternatives. Despite the promising prospects fueled by technological advancements and increasing consumer spending power, challenges persist in addressing health-related apprehensions, ensuring affordability, and combating the proliferation of counterfeit goods. Overcoming these impediments is crucial for sustaining the upward trajectory of the market, fostering consumer confidence, and promoting the continued adoption of innovative smart wearable technologies.
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This market report extensively covers market segmentation by price range (below USD 100, USD 100-199, and over USD 200), distribution channel (online and offline), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market share growth by the below USD 100 segment will be significant during the forecast period. The global market, particularly the segment under USD 100, experienced significant growth in 2022. Basic TWS earbuds, which lack advanced features, dominate this sector. Sensors and microchips are essential components of these economical earbuds. Brands like Jabra, Noise, Baseus, Xiaomi, boAt, PTron, and Apple's AirPods offer TWS earbuds below USD 100. These earbuds, also known as In-Ear Monitors (IEMs), are popular due to their affordability and wide demand among consumers.
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The below USD 100 segment showed a gradual increase in the market share of USD 7.38 billion in 2017 and continued to grow by 2021. TWS earbuds can be used with various audio sources, such as MP3 players, tablets, and laptops, with no cords or mic cables. Bluetooth technology enables wireless connectivity between the earbuds and the audio source. Brands continue to innovate, offering features like noise cancellation, long battery life, and customizable controls in their TWS earbuds. TWS earbuds are becoming essential wireless accessories, replacing physical connections to media sources.
Distribution through online channels has played a key role in the growth of the market. Gaming and sports enthusiasts, health and fitness aficionados, and users of smart devices and video game consoles seek portable, wireless solutions for uninterrupted audio experience. Wearable technology, featuring ease of usage, ergonomic designs, and comfort, has gained popularity. Battery life is a significant consideration for consumers. Noise-canceling and echo reduction technologies enhance the user experience. However, concerns over counterfeit goods and the availability of premium wireless earphones in grey marketplaces necessitate careful Price Band consideration. Online stores on the internet offer convenience, but consumers must ensure authenticity and quality. Portable, wireless, and noise-canceling headphones are essential accessories for modern lifestyles.
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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in North America is expected to lead the global industry due to the significant demand from gaming and sports enthusiasts, health and fitness conscious individuals, and users of smart devices and video game consoles. The region's market growth is driven by the widespread adoption of wearable technology, ease of usage, and ergonomic designs. TWS earbuds offer features such as noise-canceling, echo reduction, and long battery lives, making them popular portable headphones for consumers. However, the market faces challenges from counterfeit goods sold in grey marketplaces, which may impact the premium wireless earphones' price band. Online stores over the internet have become the primary sales channels for TWS earbuds, catering to consumers' convenience and accessibility.Mass customization of truly wireless stereo headphones is one of the major trends in the US market. Hence, such factors are expected to drive the TWS earbuds market growth in this region during the forecast period.
The market has experienced significant growth due to the increasing demand for wireless audio devices. Companies like Jabra, Baseus, Xiaomi, and others have introduced advanced TWS earbuds equipped with sensors, microchips, and Bluetooth technology. These earbuds offer features such as noise cancellation, mic, and controls, making them an attractive alternative to traditional audio sources like MP3 players and tablets that require cords. TWS earbuds provide the convenience of wireless connectivity and the freedom to move around without being tethered to a device. The battery life and shell design are also essential considerations for consumers. Overall, the TWS earbuds market is expected to continue its growth trajectory as more consumers seek high-quality, wireless audio solutions.
Increasing penetration of smart devices is the key factor driving the growth of the market. True Wireless Stereo (TWS) earbuds, also known as IEMs (In-Ear Monitors), have gained popularity as wireless accessories for multimedia devices such as smartphones, tablets, MP3 players, and laptops. These earbuds use Bluetooth technology for connectivity, eliminating the need for cords. TWS earbuds consist of a single earbud and a second earpiece, each containing sensors, microchips, and a battery. Brands like Jabra, Noise, Baseus, Xiaomi, boAt, and PTron dominate the market.
TWS earbuds offer controls for audio source selection, volume adjustment, and mic functionality. Hearing aid devices and other consumer gadgets are also adopting TWS technology. AirPods are a notable example of TWS earbuds that have gained significant attention in the news outlet. The market for TWS earbuds is expanding in developing regions due to increasing economic growth, literacy rates, and purchasing power. Bluetooth chips and connectivity are essential components of TWS earbuds, ensuring seamless integration with various media sources. Rising smart device sales are expected to boost demand during the forecast period.
The high convenience of using wireless technology is the primary trend shaping the growth of the market. They are a type of wireless audio accessory that utilizes Bluetooth technology for connectivity. These earbuds consist of two separate earpieces, each containing sensors, microchips, and a battery. They are designed to replace traditional wired earphones and IEMs (in-ear monitors) for listening to audio from various sources such as smartphones, MP3 players, tablets, laptops, and personal computers. TWS earbuds are offered by several brands including Jabra, Noise, Baseus, Xiaomi, boAt, and PTron.
They provide convenience by eliminating the need for cords and offer features like a mic for calls, controls for media playback, and noise cancellation. Brands like Apple's AirPods have popularized TWS earbuds, leading to increased demand in the market. TWS earbuds are also compatible with hearing aid devices and can be used as wireless accessories for media sources. Some models offer long battery life and come with charging cases. Brands continue to innovate and improve the design and functionality of TWS earbuds, making them a popular choice for consumers in the market for wireless earbuds. Thus, the great convenience of using wireless technology is driving the growth of the global market during the forecast period.
Perceived health hazards are the challenge that affects the growth of the market. They are also known as IEMs (In-Ear Monitors), have gained significant market traction due to the shift towards wire-free listening and the widespread use of smartphones. These earbuds utilize sensors and microchips, primarily relying on Bluetooth technology for connectivity. Brands like Jabra, Noise, Baseus, Xiaomi, boAt, and PTron dominate the market.
TWS earbuds offer convenience with controls, mic, and battery housed within the shell. Bluetooth technology ensures seamless connectivity with various media sources, including MP3 players, tablets, and laptops. Despite using lower radio frequencies than cellular signals, Bluetooth's electromagnetic fields can cause biological effects. News outlets have raised concerns about health hazards, but TWS earbuds remain popular wireless accessories for consumers. AirPods, a leading brand, and other single earbud models have further fueled the market's growth. Consumers can purchase these goods from various retailers, making TWS earbuds an essential addition to consumer gadgets and electronics. Hence, these risks contribute to a slowdown in the growth rate of the global truly wireless stereo headphones market during the forecast period.
The Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
True Wireless Stereo (TWS) earbuds have revolutionized the audio industry with their convenience and advanced features. These wireless devices allow users to enjoy high-quality sound without the hassle of cords. The market for TWS earbuds is thriving, driven by increasing consumer preference for wireless audio solutions. Key players in the market include Micros, Hearing, Apple, Basis, Xiaomi, and Brands. These companies are constantly innovating to offer consumers the latest features, such as noise cancellation, long battery life, and seamless connectivity. The market is segmented by technology, design, and application.
The technology segment includes Bluetooth and Wi-Fi, while the design segment includes in-ear and over-ear. Applications include entertainment, fitness, and communication. The market for TWS earbuds is expected to grow significantly due to the rising demand for wireless audio solutions and the increasing popularity of smartphones. Additionally, the continuous advancements in technology and the introduction of new features are expected to drive market growth. In conclusion, the market is a dynamic and growing industry, driven by consumer demand for wireless audio solutions and constant innovation from key players. The market is segmented by technology, design, and application, and is expected to continue growing in the coming years.
True Wireless Stereo Earbuds Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 27.3% |
Market growth 2023-2027 |
USD 120.69 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
26.78 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 38% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Apple Inc., Bose Corp., Bowers and Wilkins, Crossbeats, GN Store Nord AS, Grado Labs Inc., Imagine Marketing Pvt. Ltd., JVCKENWOOD Corp., Koninklijke Philips N.V., Logitech International SA, Marshall Group AB, Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Shure Inc., Skullcandy Inc., Sony Group Corp., Titan Co. Ltd., Xiaomi Communications Co. Ltd., Matrics Inc., and Sennheiser Electronic GmbH and Co. KG |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the Market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Price Range
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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