Wireless Earphones Global Market Report 2024

A wireless earphone is an electronic device that is designed to fit over or in the ears and transmit audio signals through radio or infrared (IR) signals, depending on the device. These earphones establish a connection with the audio source device using Bluetooth technology or Wi-Fi, eliminating the need for physical cables or wires. Wireless earphones are commonly connected to devices such as computers, televisions, stereo speakers, smartphones, gaming consoles, and other electronic devices.

The main types of wireless earphones include in-ear, neckband, and True Wireless Stereo (TWS), and they can be connected using Wi-Fi and Bluetooth technologies. These earphones find applications in various areas such as music and entertainment, sports and fitness, gaming and virtual reality. They are available for purchase at hypermarkets/supermarkets, multi-branded stores, exclusive stores, and online channels.

The wireless earphones market research report is one of a series of new reports that provides wireless earphones market statistics, including wireless earphones industry global market size, regional shares, competitors with a wireless earphones market share, detailed wireless earphones market segments, market trends and opportunities, and any further data you may need to thrive in the wireless earphones industry. The wireless earphones market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The wireless earphones market size has grown strongly in recent years. It will grow from $5.41 billion in 2023 to $5.85 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The expansion observed in the historical period in the wireless earphone market can be attributed to factors such as the growth of music streaming services, increased focus on fitness and sports activities, the popularity of consumer mobility, and the availability of earphones with extended battery life. These factors collectively contributed to the growth of the wireless earphone market during the historic period.

The wireless earphones market size is expected to see strong growth in the next few years. It will grow to $8.33 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The anticipated growth in the forecast period in the wireless earphone market can be attributed to factors such as the increasing integration with smart home devices, the incorporation of voice assistants, a growing demand for high-quality audio experiences, language translation features, and the rise in disposable incomes and consumer spending. Major trends expected in the forecast period include the adoption of spatial audio and 3D sound technologies, the development of custom ear tips and fit options, the integration of health and fitness tracking functionalities, the use of bone conduction technology, and advancements in hearing enhancement features.

The anticipated surge in demand for wireless earphones is attributed to the growing preference for wireless devices coupled with the increased adoption of smart technology. The ongoing rapid technological advancements in portable consumer electronics, particularly earphones, are witnessing noteworthy innovations, leading to substantial transformations in sound output, appearance, connectivity, and portability. The increasing affordability of wireless connectivity and the introduction of new variants with value-added features are driving consumers towards wireless earphones. According to the Cellular Telecommunications Industry Association (CTIA), approximately 80% of customers consider wireless services a necessity, and with around 5.1 billion mobile users worldwide, 89% prefer to keep their smartphones within reach. Hence, the rising inclination towards wireless devices, coupled with the growing integration of smart technology, is poised to propel the wireless earphones market's growth.

The upsurge in music streaming is anticipated to be a key driver for the wireless earphones market in the coming years. Music streaming involves the digital distribution and real-time consumption of music over the internet, offering users uninterrupted and cord-free listening experiences, facilitated by online platforms and services. For example, in September 2023, the Recording Industry Association of America reported a significant increase in the USA's music streaming revenue, reaching $7.0 billion in the first half of 2023, compared to $6.4 billion the previous year. This surge in music streaming activities is a crucial factor fueling the growth of the wireless earphones market.

To meet the increasing demand for high-quality and portable audio solutions, major companies in the wireless earphones market are introducing affordable wireless earbuds. These budget-friendly, cordless audio devices provide users with convenient and wire-free audio playback without straining their budgets. For instance, in August 2023, Creative Technology launched the Creative Zen Air DOT, a set of true wireless earbuds featuring custom-tuned 13 mm Neodymium drivers, dual microphones with Environmental Noise Cancellation (ENC), and Bluetooth 5.3 connectivity. The earbuds are water-resistant (IPX4 rated) and compatible with voice assistants for hands-free control.

Leading companies in the wireless earphones market are unveiling innovative designs for wireless airpods to meet the growing demand for high-quality audio devices and strengthen their market positions. For instance, in September 2022, Apple introduced the second generation of AirPods Pro, featuring enhanced Active Noise Cancellation, upgraded transparency mode, and improvements in spatial audio. Powered by the new H2 chip, these earbuds offer improved audio quality, longer battery life of up to 24 hours, Bluetooth 5.3 connectivity, and an IPX4 water-resistance rating. The redesigned model introduces Touch control on the stem, a sweat and water-resistant charging case with a lanyard loop, and incorporates environmentally responsible elements with the use of 100% recycled materials in certain components.

In January 2022, Vitec Imaging Solutions acquired Audix Corporation, a move that enhances Audix's audio capture strategy by adding specialist R&D capabilities to enable in-house microphone design and manufacturing. Audix Corporation is recognized for its expertise in designing and manufacturing wireless earphones and electronic components.

Major companies operating in the wireless earphones market include Apple Inc., Bose Corporation., Sony Corporation, Koninklijke Philips, Sennheiser Electronic, Samsung Group, LG Corporation., Skullcandy Inc., Panasonic Corporation, Plantronics Inc., Shure Incorporated, Japan Victor Company (JVC), One Plus Technology Co. Ltd., Logitech International S.A., Harman International Industries Inc., Zebronics India Pvt. Ltd., Motorola Solutions Inc., HTC Corporation., Nokia Corporation., Bang & Olufsen A/S, Beats Electronics LLC., Audio-Technica Corporation, Klipsch Group Inc., Ultimate Ears, Anker Innovations Limited, Jaybird LLC, Bragi GmbH, Nuheara Limited, Master & Dynamic, 1MORE Inc., Fantasia Trading LLC., EarFun Inc., Thousandshores Inc., RHA Technologies., Edifier International Limited, Grado Labs

North America was the largest region in the wireless earphones market in 2023. Asia-Pacific is expected to be the fastest growing region in the wireless earphones market report during the forecast period. The regions covered in the wireless earphones industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the wireless earphones market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The wireless earphones market consists of sales of neckband wireless earphones, in-ear wireless earphones, true wireless stereo (TWS) wireless earphones, and other wireless earphones. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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