DUBLIN--(BUSINESS WIRE)--The "True Wireless Headphones Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global true wireless headphones market is estimated to generate revenues of approximately $15 billion by 2024, growing at a CAGR of more than 26% during 2018-2024. This market research report also offers market share analysis in terms of volume (million units) during the forecast period.
Fitness and sports activity enthusiasts are investing in high-quality wireless earbuds that are compatible with portable devices for high sound quality and enhanced the audio experience in the global market. Rapid globalization and an increasing number of mass media channels have made the millennial generation aware of a wide range of cultures and music genres, thereby boosting the demand for new devices in the market.
The global true wireless headphones market is driven by the vendors introducing innovative and miniature wireless earbuds. The convergence of smart, true wireless earphones and hearing solutions will lead to the revolution of the global market. The market research report provides in-depth market analysis and segmental analysis of the global true wireless headphones market by features, price range, channel, and geography.
True Wireless Headphones Market - Dynamics
Vendors of true wireless headphones have created real-time language translation capabilities that work both with and without networks. A few companies have also created mobile applications that enhance the usability of such language translating devices. In 2016, Waverly Labs launched a wearable, language-translating device with two earpieces meant for speakers. This device was akin to true wireless headphones.
Recently, Waverly has also integrated music streaming functionality into its product. Headphones designers have tested and adopted different technologies to reduce or block contextual noises to provide the user with a better and immersive listening experience. These advancements in audio technologies are noise cancellation and noise isolation technologies. The noise cancellation technology identifies unwanted ambient sounds and emits other sounds to counterbalance them. It can be effective against continuous mechanical noise; however, it is not designed to cancel other variable noises such as human talk. The noise-isolation technology, on the other hand, is basically represented by IEMs, which physically obstruct the ear canal to block incoming noises. With rising internet penetration globally, consumer electronics and household appliances are becoming more digitized, and the households are becoming smarter (smart homes).
The world has been witnessing a rising penetration of IoT (Internet of Things) in the consumer durable industry, and various brands are exploring ways of using IoT to streamline manufacturing processes and SPM (supply chain management) as well as to deliver more personalized customer experience.
True Wireless Headphones Market - Segmentation
This market research report includes a detailed segmentation of the market by features, price range, channel, and geography. The global true wireless headphones market by features is classified into smart and non-smart. Smart devices segment dominated the total market share in 2018, growing at a CAGR of more than 29% during the forecast period. The use of smart features is redefining the genre of wearables by integrating features of various electronic devices into the tiny space of earbuds in the global market. Sales of non-smart true wireless headphones will witness continuous growth in terms of revenues and units sold due to consumer shifting to smart devices in the global market. The availability of online platforms in emerging countries will drive the demand for non-smart devices in the global true wireless headphones market.
The price range segment in the global true wireless headphones market is divided into premium, medium, and low. The medium-priced product is the fastest growing segment in the global market, at a CAGR of around 30% during the forecast period. The absence of innovative technologies in medium-ranged products such as higher IPX ratings and improved control over ambient sounds is resulting in reduced pricing in the global market. The premium products offer the latest innovations and technological advancements to a wide range of consumers in the global market. Some vendors in the low-priced segment offer tap controls and the earbuds can be used to activate voice assistants such as Siri to attract consumers in the global true wireless headphones market.
The global true wireless headphones market by distribution channel is segmented into online and retail. Online segment occupied more than 2/3rd of the total market share in 2018, growing at a CAGR of around 23% during the forecast period. The increasing number of OEMs' e-commerce portals and online direct-to-consumer stores such as Amazon, eBay, Best Buy, Alibaba, and JD. com is contributing to the growing demand in this segment in the global market. Specialty stores such as Apple Stores, Bose Stores, and Harman Lifestyle Showrooms are attracting the maximum number of consumers in the retail segment in the market. Staffs in supermarkets and shops are educated about the product features, their modus operandi, and their usage in the global true wireless headphones market.
Key Vendor Analysis
The global true wireless headphones market is witnessing the diffusion of innovation of previous new technology products. The leading vendors are investing in making their products equipped with smart and intelligent features and abilities in the global market. The integration of language translation and augmented hearing features will boost the intensity of the competition in the market. The development of advanced products will help leading vendors attract the maximum number of consumers and gain a larger global true wireless headphones market share.
The major vendors in the global true wireless headphones market are:
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.4 Currency Conversion
5.5 Market Derivation
6 Market at a Glance
7.2 Advent of True Wireless Headphones in Global Market
7.3 Reduced Stigma of Wearing Gadgets on Face
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Presence of value-added features like language translation and augmented hearing
8.1.2 Rising demand among sports & fitness enthusiasts
8.1.3 Rising number of smartphone users and tech-savvy consumers
8.1.4 Consumers' tendency to own several headphones
8.1.5 YOY Impact of Market Growth Enablers
8.1.6 Impact of Market Growth Enablers on Regions
8.2 Market Growth Restraints
8.2.1 High competition from emerging smart wireless headphones
8.2.2 Health concerns and reduced awareness of external environment
8.2.3 High prevalence of counterfeit products & fragmented market
8.2.4 YOY Impact of Market Growth Restraints
8.2.5 Impact of Market Growth Restraints on Regions
8.3 Market Opportunities & Trends
8.3.1 Emergence of true wireless headphones in connected environment
8.3.2 Integration of new technologies to become industry standard
8.3.3 Vendors to enhance features while reducing headphone size
8.3.4 Increased investment in IoT by vendors
8.3.5 YOY Impact of Market Opportunities & Trends
8.3.6 Impact of Market Opportunities & Trends on Regions
9 Global Market Landscape
9.1 Market Size & Forecast (Revenue & Units)
9.2 Porter's Five Forces Analysis
10 By Features
10.1 Market Overview
10.2 Smart True Wireless Headphones
10.3 Non-smart True Wireless Headphones
11 By Price Range
11.1 Market Overview
11.1.1 Global True Wireless Headphones Market by Price Range
11.2 Premium Range
11.3 Medium Range
11.4 Low Range
12 By Distribution Channel
12.1 Market Overview
12.2 Manufacture, Production, And Distribution
12.3 Distribution Through Retail Stores
12.4 Distribution Through Online Websites
13 By Geography
14 North America
17 Latin America
18 Middle-East & Africa
19 Competitive Landscape
19.1 Competition Overview
19.2 Vendor Share Analysis
19.3 Price & Popularity Analysis
20 Key Company Profiles
20.1.1 Business Overview
20.1.2 Major Product Offerings
20.1.3 Key Strategies
20.1.4 Key Strengths
20.1.5 Key Opportunities
21 Other Prominent Vendors
21.6 Vi Technologies (Alpha Audiotronics)
21.9 Bang & Olufson
21.14 Waverly Labs
21.16 Master & Dynamic
21.21 Sol Republic
21.23 Onkyo & Pioneer
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