Global True Wireless Earbuds Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global True Wireless Earbuds Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

True wireless earbuds use Bluetooth connectivity to transmit the audio signal by radio waves from source devices like cellphones and digital players. Moreover, true wireless earbuds have no cable at all to connect to the phone or any other devices-and, unlike wireless earbuds, theres no cable to connect each bud to the other either. Once the lid is off, it can be connected and seamlessly switched. Ultra-long battery life, environmental monitoring, voice assistant, automatic connection, and other functions are also available. This makes true wireless buds extremely flexible and convenient. True wireless earbuds usually adopt wireless charging, also known as Qi Wireless Charging, which works via electromagnetic reduction.

Market Overview:

The latest research study on the global True Wireless Earbuds market finds that the global True Wireless Earbuds market reached a value of USD 84491.42 million in 2022. It’s expected that the market will achieve USD 786640.92 million by 2028, exhibiting a CAGR of 45.04% during the forecast period.

Influence of COVID-19 Outbreak on True Wireless Earbuds Industry Development

The COVID-19 Outbreak has led to a decline in offline passenger flow, and the advantages of e-commerce companies have become prominent. During the epidemic prevention and control period, some true wireless earbuds industry did not carry out Internet marketing and promotion for their business, so they encountered great resistance in undertaking business. For enterprises that fail to make good use of network promotion means, there is almost no market development during the epidemic period, and the original offline market development plan is disrupted, and the epidemic will face fierce market homogenization competition, which is expected to have a great impact on the company's business throughout the year.

The epidemic will have a short-term impact on truly wireless earbuds industry, but it is relatively limited. Due to the impact of the epidemic, the production of raw materials and equipment procurement and transportation supply is difficult to be in place, and upstream enterprises affect the work schedule of downstream enterprises. Equipment manufacturing and product manufacturing enterprises in truly wireless earbuds industry are affected to different degrees, and the production and delivery work may be delayed to some extent. Meanwhile, if it fails to meet the customer's delivery time requirements according to the contract, it may lead to the customer looking for another enterprise and losing business.

Market Driver Analysis

Firstly, innovative marketing strategies help the development of the true wireless earbuds industry. Secondly, leading participants in the true wireless earbuds market continue to develop innovative features for truly wireless earbuds, such as better battery life and powerful noise reduction technology, to meet changing consumer demands and strive for greater market share.

Market Restraints Analysis

True Wireless Earbuds of many brands have good performance and many functions, but generally speaking, the price is relatively high and the cost performance is not very high. As a result, there are many counterfeits of the product on the market, some of which are very cheap. In addition, some counterfeits are regarded as genuine and are bought by consumers as genuine, which disturbs the market. Counterfeit products that are easily available may hinder the growth of the industry.

Market Trends Analysis

The global true wireless earbuds market is expected to grow at a CAGR of over 60.07% during the period 2020-2025. Music enthusiasts are investing in high-quality earphones that are compatible with portable devices for high-sound quality and enhanced audio experience. Mobile devices have emerged as the preferred medium for consuming online media. Since 2010, the global smartphone market has witnessed unprecedented growth. Smartphone shipments crossed 1.5 billion in 2015 and crossed over 2.0 billion in 2019. Globalization and the increased number of mass media channels have made millennials aware of a wide range of cultures and music genres. About 49% of millennials watch videos on their mobile devices.

Moreover, millennials are three times more likely to watch videos on their mobile devices than baby boomers. Therefore, millennials invest in premium earbuds that are compatible with smartphones and handheld portable mobile devices such as iPods, MP3s, and MP4 players. Hence, changing lifestyles are driving the growth of the global true wireless earbuds market.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview:

Apple, Beats, Samsung (Harman) were the top 3 players in the True Wireless Earbuds market in 2019, taking up a market share of 58.63% together.

Apple Inc.is an American multinational corporation that designs and manufactures consumer electronics and computer software products. The company's best-known hardware products Macintosh computers, iPod, iPhone, software including the Mac OS X operating system, iTunes and other creativity software like iWork represent the face of the music, phone, and computing industry.

Beats develop and manufactures audio electronics products. The Company produces a range of over-ear headphones, in-ear headphones, on-ear headphones, speakers, computer audio processors, and related products. Beats Electronics markets and distributes its products to customers and electronics retailers around the world.

Segmentation Overview:

Among different product types, Smart segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Premium (Above $100) segment occupied the biggest share from 2017 to 2022.

Key Companies in the global True Wireless Earbuds market covered in Chapter 3:

Bose
Sennheiser
Apple
Beats
Xiaomi
Cambridge Audio
JLAB
Jabra
Samsung (Harman)
JBL
Microsoft
Skullcandy
Bang & Olufsen (B&O)
Sony
AVIOT

In Chapter 4 and Chapter 14.2, on the basis of types, the True Wireless Earbuds market from 2018 to 2029 is primarily split into:

Smart
Non-smart

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the True Wireless Earbuds market from 2018 to 2029 covers:

Premium (Above $100)
Medium ($50-99.99)
Low (Below $50)

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)