True Wireless Stereo Earbuds Market Analysis Report By Price Band, By Region And Segment Forecasts From 2021 To 2028

Synopsis

The global true wireless stereo earbuds market was prized by USD 25.32 billion in 2020. It is estimated to witness 36.1% CAGR from 2021 to 2028.

Drivers

The fast propagation of social media along with the short video apps, plus the rising demand for streaming content is the factors, projected to speed up the enlargement of the market for true wireless stereo (TWS) earbuds, during the subsequently a small number of years. The true wireless stereo earbuds shape like an essential element of the smart audio devices manufacturing. The section is anticipated to observe healthy expansion, during the forecast period.

The business has, by now observed the paybacks of the incorporated a number of sensors into single device. But, going onward, fundamental progressions in technology, together with the improvement of strong as well as price effective Bluetooth chips, having extended battery life, will lead the expansion of the market.

Furthermore, earbuds are achieving importance like a hearing aid device. The companies are concentrating on including features of the hearing aid into their earbuds to help citizens having hearing disabilities.

Effect of Covid-19

The Covid-19 directed interruptions in supply chain caused a slight hindrance for the business. During the first part of 2020, the manufacture of true wireless stereo earbuds in China was affected. But, it restored to complete operational stage by the next quarter. Yet, the pandemic did not influence the customer demand because a comparatively higher section of the product retailing was online. The increasing product demand, intended for the work-from-home/ fitness actions has maintained the stable development of the market, throughout the pandemic.

Price Band Insight

The USD 100-199 price band section held the major, more than 50.0% revenue share of the true wireless stereo earbuds market, in 2020. Mainly the companies like Jabra, Apple Inc., and Samsung Electronics Co. Ltd., have added to the market share. Above the subsequently couple of years, Apple Inc. is expected to go on leading the global hearable market. On the other hand, the financial recession and associated fears, sourced by the Covid-19 pandemic have increased the enlargement of the below USD 100 price band section.

Indian and Chinese trade names like PTron, Xiaomi, Noise, Baseus, and boAt, have presented a number of products in the under USD 100 price band. This has caused a drop in the trade of upper priced products, consequently reducing globally the standard selling prices for the true wireless stereo earbuds, in 2020.

The demand for the middle range products is expected to increase grip, because of the influence of the pandemic decrease, pushing the introduction of fresh, beneath USD 100-199 price band, products. The companies like Jabra, Apple Inc., and Sony Corporation are likely to present latest products in the low- to mid-priced limit.

Regional Insight

In 2020, North America held more than 37.0% share and dominated the global true wireless stereo (TWS) earbuds market. This was closely tracked by Asia Pacific. The attractiveness of the Air Pods has been helpful in pushing the demand for true wireless stereo earbuds, within in North America.

Some smart phone companies have launched wireless earbuds having specific connectivity to their particular devices. By the fast spread of smart phone substitution phase, several customers are, moreover, noticed spending in associated accessories. Smart phone companies are likely to take advantage of these openings. The infiltrations of high-pitched technology in addition to in advance accessibility of the recently introduced products are the few input factors, adding to the enlargement of the market.

Asia Pacific taken over a large market share by way of the products having under USD 100 price band, in 2020. A strong demand for these products is observed. Asia Pacific shows a vibrant market background, by means of an assorted demand for the first rate along with the reasonably priced products. First-rate products attract to the clients from South Korea and Japan, who have a preference for sound excellence and expediency above price. In contrast, Southeast Asian nations have revealed a greater liking for mid to low priced products.

The companies like Realme, and Xiaomi try hard to increase availability of the product in price responsive markets, the demand for reasonably priced devices, within Asia Pacific, is likely to increase during the forecast period. As a result of the appearance of some companies, presenting quality packed products on reasonable prices, India and China are likely to direct the Asia Pacific local market. Several Indian as well as Chinese companies try to find enlargement openings in abroad markets. Entrenched companies take advantage of the presented supply chain for escalating their across the border e-commerce transactions.

Besides, these companies present reasonably priced as well as attractive products, which finely reverberate with an additional wide-ranging audience. Asia Pacific offers a huge client support and a number of openings for the expansion of the market, by way of low entrance obstacles. These issues are projected to push trade for the product in Asia Pacific. In terms of revenue, the state is likely to beat North America, during the forecast period.

Companies

Since, the companies like Skullcandy.com, Apple Inc., Sony Corp., as well as Bose Corp., are holding a major share of the general market, the market for true wireless stereo earbuds is aggressive. Mainly, the companies are concentrated on presenting new features in their products, to augment the acoustic feel. But, several top brands are dropping their share in the market because of the regional brand names along with the Chinese companies, which present discriminated features on low down prices.

Some of the companies for true wireless stereo earbuds market are:

• Sennheiser Electronic GmbH & Co.
• Harman International Industries, Inc.
• Bose Corp.
• Xiaomi 
• Sony Corp.
• Jabra
• Apple, Inc.

Report Scope

Segments Covered in the Report

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2028. For the purpose of this study, Million Insights has segmented the global true wireless stereo earbuds market report based on price band and region:

• Price Band Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2028)
    • Below USD 100
    • USD 100-99
    • Over USD 200

• Regional Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Spain
        • Rest of Europe
    • Asia Pacific
        • Greater China
        • India
        • Japan
        • South Korea
        • SEA
        • Rest of Asia Pacific
    • Latin America
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa