True wireless stereo earbuds market size to grow by USD 120.70 billion from 2022 to 2027, Driven by Increasing penetration of smart devices - Technavio

NEW YORK, Oct. 1, 2023 /PRNewswire/ -- The "True Wireless Stereo Earbuds Market size 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) - Forecast and Analysis 2023-2027" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the true wireless stereo earbuds market between 2022 and 2027 is USD 120.70 billion. The increasing penetration of smart devices is the key factor driving market growth. The increasing penetration of smart devices such as smartphones, tablets, laptops, smart TVs, streaming music players, and other multimedia devices is anticipated to boost the demand for compatible accessories such as true wireless stereo headphones. Additionally, the demand for smart devices is increasing mainly in urban and semi-urban areas. Smartphone players are also mainly focusing on these areas to increase their market share. Rising smart device sales are anticipated to drive the growth of the market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge -

Perceived health hazards of true wireless stereo earbuds are the significant challenge that affects the growth of the market. Prolonged use of true wireless stereo headphones can lead to hearing complications and other health risks such as hearing loss. Additionally, sharing headphones between multiple users can lead to ear infections and infections. Since the inner ear is directly connected to the brain, completely wireless stereo headphones can affect the brain. Therefore, these risks contribute to the slowdown in the growth of the market during the forecast period. 

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The true wireless stereo earbuds market is segmented 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)

• The market share growth by the below USD 100 segment will be significant during the forecast period. The earbuds in this segment are typically essential and do not deliver multiple features. Several truly wireless stereo headphones for under USD 100 include Sony's Sony WF-C500, the boat Airdopes Alpha True Wireless Headphones, and the OnePlus Nord Buds. Growing adoption of entry-level devices is expected to drive the growth of the Below USD 100 segment of the true wireless stereo earbuds market during the forecast period. 

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Key Companies in the true wireless stereo earbuds market:

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

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The wireless audio devices market is estimated to grow at a CAGR of 19.77% between 2022 and 2027. The size of the market is forecast to increase by USD 57,887.46 million.

Table of Content:

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 Company Landscape

12 Company Analysis

13 Appendix

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SOURCE Technavio