According to the latest report from Reports and Data, the global size of True Wireless Stereo (TWS) Earbuds Market reached USD 11.15 Billion in 2022. It is projected to exhibit a revenue compound annual growth rate (CAGR) of 17% during the forecast period.
The market is witnessing significant growth due to the increasing demand from fitness enthusiasts and athletes who require earbuds that are sweat-resistant and waterproof. This trend has fueled the development of earbuds equipped with integrated biometric sensors and activity trackers, which are highly sought after by fitness enthusiasts. These earbuds meet the requirements of both music enjoyment and fitness monitoring. Additionally, advancements in battery technology have resulted in extended battery life for earbuds, ensuring uninterrupted music experiences for consumers.
Moreover, there is a growing demand for noise-cancelling earphones as consumers seek to isolate themselves from external noise and immerse themselves in their music. The rise in popularity of podcasts and audiobooks has also contributed to the increased usage of TWS earphones. Additionally, the surge in remote work and online learning has expanded the adoption of noise-cancelling earbuds for virtual meetings, phone conversations, and e-learning. This surge in demand is driving the growth of the market and boosting its revenue.
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Major companies
Apple Inc., Samsung Electronics Co., Ltd., Sony Corporation, Bose Corporation, Jabra, Sennheiser Electronic GmbH Co. KG, Anker Innovations Limited, Jaybird LLC., Beats Electronics LLC., and JBL.
Some Key Highlights from the Report
- The in-ear segment held the greatest revenue share in the worldwide TWS earbuds market during the forecast period. This is because of its features, such as hands-free operation and ease of use, as well as their transportable and small size, which makes them perfect for use on the road. The growing tendency of customers using earphones while indulging in physical activities like jogging and exercising has also enhanced the popularity of in-ear TWS earbuds.
- The USD 100 Segment is estimated to account for the greatest revenue share in the worldwide TWS earbuds market during the forecast period. This is owing to an increase in the number of customers adopting these items in a variety of product categories, including electronics, fashion, and home products. Smartphones, tablets, and headphones are readily accessible at this price in the electronics industry. Demand for low-cost electronics is likely to expand in the future years as consumers seek products with greater features and utility at a lower cost.
- The North American market is predicted to have the highest revenue growth rate in the worldwide TWS earbuds market during the forecast period. This is due to the growing popularity of TWS earbuds, which are more portable and easy to use than traditional corded earphones. Because of the growing popularity of sports and fitness activities, TWS earbuds with characteristics such as waterproofing and noise cancellation are in great demand. Furthermore, with the usage of smart homes and appliances, adoption of TWS earbuds in this field is projected to grow.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
Product Type Outlook (Revenue, USD Billion; 2022 - 2032)
- In-ear
- Over-ear
Price Range Outlook (Revenue, USD Billion; 2022 - 2032)
- Below USD 100
- USD 100 - 99
- Over USD 200
Distribution Channel Outlook (Revenue, USD Billion; 2022 - 2032)
- Online
- Offline
Key Takeaways of the Global True Wireless Stereo (TWS) Earbuds Market Report:
- A comprehensive overview of the global True Wireless Stereo (TWS) Earbuds industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global True Wireless Stereo (TWS) Earbuds market.
- Elaborate study of the leading regional markets in the global True Wireless Stereo (TWS) Earbuds market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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