Dublin, April 15, 2021 (GLOBE NEWSWIRE) -- The "True Wireless Headphones Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global true wireless headphones market by revenue is expected to grow at a CAGR of over 20% during 2020-2026.
The market has witnessed a paradigm shift after the launch of Apple's AirPods at the end of 2016. The sale of AirPods was substantially high and encouraged several global manufacturers to launch their own product lines. Music enthusiasts are investing in high-quality earphones and headphones that are compatible with portable devices for high-quality sound and enhanced audio experience.
In 2020, due to the outbreak of the COVID-19 virus, a temporary setback was witnessed in the headphone industry with disruption in component manufacturing and supply management as well as the closure of assembly lines across major and emerging markets. However, the market revived by June/July 2020 due to the rise in demand for headphones.
The introduction of hearables - wireless in-ear listening devices - has offered significant impetus to the market's growth. These devices perform functions of smart wireless headphones, hearing aids, fitness tracker wearables, and speech modulation devices.
While truly wireless earbuds have been at the forefront of innovations, vendors have started to incorporate innovative technology such as active noise canceling, gesture recognition and control, active head tracking, biometric monitoring, 3D surround sound delivery, and onboard storage in their headphones variants, thereby boosting the market growth.
The North America true wireless headphones market expects to reach approx. USD 6 billion by 2026. The US is the major contributor to the growth of the market. With the increasing use of miniature headphones as fashion accessories, the market has experienced tremendous growth in recent years. The popularity and acceptance of true wireless headphones is high in fitness and sports enthusiasts.
The high average disposable income of the population, the proliferation of smartphones, and the inclusion of advanced features in true wireless headphones are the main factors fueling the growth in the region. Moreover, the trend of on-demand streaming is driving the sale of headphones in North America. With the outbreak of the COVID-19 pandemic, the number of music and video playback applications and streaming music increased significantly during the period, which in turn, has driven the sale of true wireless headphones.
GLOBAL TRUE WIRELESS HEADPHONES MARKET SEGMENTATION
The entry of electronic PCs and tablets, and TV manufacturers such as Samsung, Sony, and Apple in the market has increased the sale of headphones via retail stores worldwide. However, preference and propensity to purchase true wireless headphones online are making brands the retail space less imperative. In 2020, the online segment accounted for the highest share of the global true wireless headphones market. The traditional retail segment faces strong competition from the online segment. Online stores offer a variety of options to choose from compared to retail stores. Several consumers seek to buy these devices online because of the ease-of-accessibility and convenience afforded by such channels.
The global smart true wireless headphone market by unit shipment expects to touch 83 million units by 2026.
In terms of revenue, the premium range true wireless headphones market is expected to reach USD 8 billion by 2026.
The active noise cancellation (ANC) headphones market by revenue is expected to cross USD 9 billion by 2026, growing at a CAGR of approx. 22% during 2020-2026.
Online portals and retail outlets, including specialty and electronic stores, are the major distribution channels for true wireless headphones.
INSIGHTS BY VENDORS
Bose, Apple, Samsung, Sony, Sennheiser, Jabra, Xiaomi, and Skullcandy are the major vendors in the global market. Major players compete in various rounds such as the introduction of new products, technology, and online presence. The growth of vendors depends on market conditions, technological innovations, industry development, as well as the early revival of the supply side amidst the coronavirus pandemic.
Many key leading vendors focus on the European and North American regions. To capitalize on the expected increasing demand from APAC, Latin America, and MEA, key players are expanding their geographical presence by increasing foothold in emerging markets. In 2020, over 200 companies, including key, prominent, and small-scale vendors were engaged in the manufacturing of true wireless headphones.
Market Opportunities & Trends
True Wireless Headphones as Hearables in A Connected Environment
Innovations Becoming Standard Offerings
Enhanced Features with Reduced Size Of Earbuds
Market Growth Enablers
Value-Added Features Driving Adoption
Rising Demand From Users In Fitness Activities
Rising Number Of Tech-Savvy Consumers
Consumers Owning More Than One Headphone
Awareness Of NIHL Driving Noise Cancellation Segment
Competition from Smart & Neckband Wireless Headphones
Consumer Health Concerns & Reduced Environmental Awareness
Availability of Counterfeit Products
GN Audio (Jabra)
Other Prominent Vendors
Bang & Olufsen
Imagine Marketing (boAt)
Master & Dynamic
Onkyo & Pioneer
For more information about this report visit https://www.researchandmarkets.com/r/21g86m
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