Earbuds Market Analysis & Growth Forecast 2023
Earbuds Market Size in Revenue and Growth CAGR
Market Segments and Share of Global Earbuds Market
Arizton Advisory and Intelligence
Apple, Alphabet, Bragi, Samsung, Nuheara, Sony, Jabra & Bose are the leading companies dominating the global earbuds market.
North America is the largest region in the market during 2017, growing at a CAGR of more than 26% during 2017-2023”
— Abby, Sr Analyst
CHICAGO, IL, UNITED STATES, May 31, 2018 /EINPresswire.com/ — Arizton's market research report on global earbuds market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by features (smart and non-smart), by price range (low range, medium range, and high range), and by geography (North America, APAC, Europe, and ROW).
Analysts at Arizton states that the global earbuds market size is expected to reach values of around $10 billion by 2023, growing at an impressive CAGR of approximately 30% 2017–2023.
The global earbuds market is driven by the availability of charger carry case and battery backup that provide playback and talk time of more than 12 hours. The increasing accessibility of several entertainment platforms and consumer’s shift to the adoption of newer technology will propel market development. The market research report provides in-depth market analysis and segmental analysis of the global earbuds market by product, distribution channel, material, and geography.
View Global Earbuds Market Research Report Details Here.
The report considers the present scenario of the global earbuds market and its market dynamics for the period 2018−2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.
Key Vendor Analysis
The global earbuds market is still niche and consist of a small number of players that control the level of the competition. Bragi was one of the first vendors to launch a product that was a little higher than smart wireless headphones that were available in the market. After the launch of Apple’s AirPod the market concentrated further as it controlled a major portion of the revenues in the market and especially in the US. Product development and launch of new variants by tech giants such as Samsung and Google and other headphone companies such as Jabra, Bose, and Sony will intensify the competition in the global market during the forecast period. Additionally, the companies are offering low range and mid-range products in the emerging nations of APAC and MEA to gain a larger market share in the global earbuds market.
Major Vendors in the Global Earbuds Market
Prominent Players in the Global Earbuds Market
Bang & Olufson
Market Segmentation by Features
Market Segmentation by Price Range
Low Range (up to $49.99)
Medium Range ($50 and $99.99)
Premium Range ($100 and More)
Market Segmentation by Geography
Smart wireless earbuds segment to grow at the fastest CAGR in the earbuds market during forecast period
The earbuds market by features is segmented into smart and non-smart devices.
Smart wireless earbuds dominated the market in 2017 and are projected to grow at a CAGR of around 31% during the forecast period.
Smart wireless earbuds can perform a function on a broader spectrum than just answering calls and stream music over Bluetooth, and they also include water resistance, gesture recognition, sensors, and biometric recognition. The proliferation of fast-evolving music industry and increasing demand for music streaming by consumers during their day to day activities is augmenting the growth of the smart wireless earbuds segment in the earbuds market. The leading companies are offering several features to control the ambient sound and deliver personalized listening experience is boosting the demand for smart wireless earbuds in the global market.
Some of the features in these smart wireless earbuds include voice assistance features like Siri, Google Now, and Alexa. Some of the other features offered by these smart wireless earbuds include intelligent noise cancellation, full control over ambient sounds, gesture controls, equalizer settings, custom molding of earbuds, option to use single bud or both buds at a time, sweat and water resistance, operating system updates, monitor biometrics, and fitness coaching.
Medium range segment to grow at an impressive CAGR in the earbuds market during forecast period
The price range segment in the wireless earbuds market is segmented into premium range ($100 and more), medium range ($50 and $99.99), and low range (up to $49.99).
Medium range wireless earbuds occupied a significant market share in 2017, growing at a CAGR of over 31% during the forecast period.
These wireless earbuds offer some extra functions other than music streaming and answering calls like the mobile application to manage the equalizer settings, multifunction buttons, decent battery life, and reducing the external noise. The wide availability of these medium range wireless earbuds on e-commerce websites, headphone stores, and supermarkets will augment the growth of this global market. Some of the leading vendors are also offering tap or touch controls, and these devices can now activate Siri and Google Now. Such features will help companies reach a wider target audience and gain a larger earbuds market share.
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APAC to grow at a significant CAGR in the earbuds market during forecast period
The wireless earbuds market by geography is classified into North America, APAC, Europe, and ROW.
North America is the largest region in the market during 2017, growing at a CAGR of more than 26% during the forecast period. The rising number of smartphone users and better speed internet connectivity are one of major factor attributing to the growth of the market in North America. The US and Canada are the largest revenue contributor in the North American market.
APAC dominated a considerable wireless earbuds market share in 2017 and is the fastest growing region at a CAGR of around 44% during the forecast period. The growing availability of budgeted smartphones, high disposable income, and increase in purchasing power of the middle-class population are some of the factors attributing to the growth of the wireless earbuds market in the APAC region. Countries such as China, Japan, South Korea, and Australia are the largest revenue generators in the APAC market. Other benefits such as growing internet usage, online shopping, availability of low priced and medium-priced earbuds will attribute to the growing demand for these devices in the APAC market during the forecast period.
Other prominent players in the wireless earbuds market are Jaybird, Alpha Audiotronics, Rowkin, Huawei, Avanca, Bang & Olufson, Crazybaby, Earin, Meizu, Motorola, Waverly Labs, and Mymanu.
The complete overview of the latest market research report on wireless earbuds market by Arizton is now available.
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Source: EIN Presswire