The wireless headphones market was valued at US$6,004.380 million in 2019. Wireless headphones are those types of headphone devices that have the ability to connect with various devices such as smartphones, stereo speakers, laptops and PCs, and gaming console among others, without any wires or cables. These headphones transmit the audio signals with either radio or infrared signals that also depends on the type of device. The rapid adoption of technology has led to the development of new and advanced products. In addition, the miniaturization of these devices is leading to the wide adoption of wireless headphones for various purposes that include fitness, gaming, calling, and others. Furthermore, there is also a substantial increase in the gaming population on account of the rapid penetration of smartphones and the internet. All these factors are expected to collectively contribute towards the wireless headphone market growth during the next five years. Additionally, the booming adoption of wireless headphones in call centers coupled with the growth in the investments in new call centers is further driving the demand for wireless earphones, thus bolstering the market growth during the next five years.
Moreover, the advancement of technology has led to the development of smartphones without headphone jacks as the inclination of smartphone manufacturers to go wireless has also led to an upsurge in the demand for wireless headphones, which is also considered to be a major factor boosting the market growth. Also, the growing investments by the key market players in the form of R&D for the development and launch of new products coupled with the entry of new players in the wireless headphones market are also some of the key factors propelling the opportunities for the market to grow in the near future. For instance, in 2018, OnePlus Technology (Shenzhen) Co., Ltd., a leading smartphone manufacturing company globally known for its flagship smartphones entered a new business segment of wireless earphones and launched OnePlus Bullets Wireless in-ear Bluetooth headset. In addition, the growing consumer requirements are also leading to the development and launch of products with considerably low prices to cater to the growing requirements of the middle-income group by various companies such as Realme, and SkullCandy among others further shows the potential for the wireless headphones market to grow throughout the forecast period. However, the rising penetration of new market players in the truly wireless segment is also providing an impetus for the market to grow in the near future. For instance, in April 2020, Guangdong OPPO Mobile Telecommunications Corp., a Chinese smartphone manufacturing company that manufactures mid-range phones announced the launch of its latest and first truly wireless earbuds, the Oppo Enco W51. Similarly, other key smartphone manufacturers such as OnePlus, Mi, and Vivo among others have also announced their development of new truly wireless products and are expecting to enter the market by the end of the year 2020. This is also offering lucrative opportunities to the key market players to invest in the market and capture a greater market share over the other players.
The wireless headphones market has been classified on the basis of type, connectivity, distribution channel, and geography. By type, the segmentation of the market has been done on the basis of In-Ear, Over-Ear, and On-Ear. By connectivity, the segmentation has been done on the basis of Bluetooth, WiFi, and NFC. Geographically, the wireless headphones market has been classified into North America, South America, Europe, Middle East and Africa, and Asia Pacific.
In-Ear segment to hold a decent share
On the basis of type, the In-Ear wireless headphones market is projected to hold a substantial share in the market throughout the forecast period on account of the high adoption of In-Ear products due to better sound quality, convenience, and durability among others. Furthermore, the Over-Ear segment is projected to witness healthy growth over the course of the next five years majorly on account of the growing gaming population coupled with the rising popularity of gaming consoles along with the integration of wireless connectivity technology in the gaming consoles.
Online sales to show a robust growth
By the distribution channel, the offline segment is projected to hold a major share throughout the forecast period primarily on account of the presence of a considerably large population base that is reluctant towards online shopping due to piracy and duplicity issues. However, the online segment is projected to show robust growth during the next five years on account of booming growth in the online sale of these products due to sale offers, and dynamic pricing across the online platforms.
Bluetooth connectivity to hold a noteworthy share
By connectivity, the Bluetooth segment is expected to hold a notable share in the market throughout the forecast period due to the comparatively large number of product offerings by the companies with Bluetooth connectivity. Also, the recent development and launches of new Bluetooth products is one of the major factors supplementing the growth of this segment during the next five years.
APAC to show a healthy growth
North American region is anticipated to hold a decent share on account of the early adoption of technology and the presence of key market players in the region. The market in Asia Pacific region will witness a healthy growth on account of inclination towards the use of wireless headphones due to increasing purchasing power coupled with the presence of numerous domestic companies in countries like India and China among others.
Prominent key market players in the wireless headphones market include Apple Inc., Bose Corporation, and Sony Corporation among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings.
Major players in the wireless headphonesmarket have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
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