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Escalating number of smartphone users around the world and increased consumer spending on electronic gadgets are expected to bolster market growth

VANCOUVER, BC, CANADA, May 24, 2023 /EINPresswire.com/ -- The global wireless earbuds market size is expected to reach USD 14.23 billion by 2028 at a CAGR of 15.2%, according to a new report by Emergen Research. Market revenue growth is majorly supported by wider access to the Internet, growing use of smartphones with advanced features functionalities, emergence of advanced wireless technologies, and rising disposable incomes of consumers, especially in developing nations such as India and China.

Other key factors driving market growth are rising demand for wireless earbuds among students and the working population, growing trends of work from home and online schooling in the pandemic era, and increasing availability of wireless earphones at highly affordable prices, manufactured by companies such as Oppo, Vivo, and Xiaomi. Furthermore, escalating demand for high-end music & entertainment devices, mainly among the younger population, emergence of advanced technologies such as ANC (active noise cancellation), and rising demand for wireless earbuds that are highly compatible with intelligent virtual assistants including Alexa, Siri, Cortana, and Google Assistant have further boosted the global market growth over the recent past.

A comprehensive overview of market conditions and various business-related elements are covered in this Wireless Earbuds market research report. It enables business players to reach target groups and provides all the important details about customers and competitors. Quantitative research methods are used to conduct this market research to provide accurate market data and problem-solving. The Wireless Earbuds Market report helps to identify the major regions such as Asia Pacific, North America, Europe, Middle East, Africa, and Latin America where new players and merchants can expand their business. Additionally, it performs in-depth analysis and provides market size, market dynamics, and market share.

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Also, the market share of each industry over the forecast period is discussed. This market report also provides information on industry dynamics, market share, growth prospects, and challenges. It also conducts market research to determine the growth models, approaches, and techniques used by key players. The most important statistics in the industry trends report provide the ideal reference for companies. Besides company profile, capacity, production rate, value, and product specifications, the report covers some other important parameters.

Key Players Mentioned in the Wireless Earbuds Market Research Report:

Apple Inc., Bose Corporation, Sony Corporation, Samsung, JVC, OnePlus, Jaybird, Beats Electronics LLC, Shure Inc., and Sennheiser electronic GmbH & Co. KG., among others.

Some Key Highlights of the Report:

Based on application, the music & entertainment segment is the fastest-growing segment in the global wireless earbuds market. The segment is projected to register the highest CAGR over the forecast period, owing to factors such as growing demand for high-end entertainment devices with enhanced audio and noise cancellation features, increasing number of smartphone users, and growing inclination towards live music streaming and podcasts.

Among distribution channels, the online platforms segment is expected to reach the highest revenue share over the forecast period, owing to the significant rise of the e-commerce industry, rising trend of online shopping, and growing availability of wireless earbuds on leading e-commerce platforms such as Amazon, Flipkart, and Walmart, often at discounted prices.

In 2020, North America was the most dominant of all regional markets in the global wireless earbuds market in terms of revenue. Market growth in this region is attributed to rising adoption Alexa or Siri-compatible smart home devices, increasing indulgence of the youth in online gaming and other entertainment activities, rising demand for wireless earbuds among tech-savvy consumers, and increasing use of these devices during fitness activities or outdoor sports. The presence of leading brands including Bose, Apple, and Beats Electronics in the region is another major factor accounting for the North America market growth.

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For the purpose of this report, the global wireless earbuds market is segmented on the basis of application, end-use, distribution channel, and region:

Application Outlook (Revenue, USD Billion; 2018-2028)

Fitness

Gaming

Music & entertainment

Virtual Reality

End-use Outlook (Revenue, USD Billion; 2018-2028)

Commercial

Consumer

Others

Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)

Online platforms

Offline retail stores

The study segments the Wireless Earbuds industry in light of major classification such as product type, potential markets, application, and end-user. This industry assessment for the forecast period, 2021 – 2028 incorporates projections pertaining to the investment feasibility, gross margin, profits, consumption volume, production capability and major market vendors. Likewise, statistics associated with the competitive landscape, shifting consumer behaviour and spending power is showcased and well-explained with the help of treasured resources such as charts, graphs and graphic images, which can be easily incorporated in the business or corporate presentations.

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Key questions answered in the report:

1. Which are the five top players of the Wireless Earbuds market?

2. How will the Wireless Earbuds market change in the next five years?

3. Which product and application will take a lion’s share of the Wireless Earbuds market?

4. What are the drivers and restraints of the Wireless Earbuds market?

5. Which regional market will show the highest growth?

6. What will be the CAGR and size of the Wireless Earbuds market throughout the forecast period?

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