New York, Feb. 13, 2023 (GLOBE NEWSWIRE) -- By 2033, it is anticipated that the True Wireless Stereo Earbuds Market would be worth over US$ 522.0 billion. In 2023, its estimated value is expected to be US$ 56.6 billion. Sales of true wireless stereo earbuds are anticipated to soar remarkably, with a CAGR of 24.9% from 2023 to 2033 predicted for the industry.
In the next ten years, the global market is expected to provide an additional opportunity worth around US$ 465.5 billion, according to a report by Persistence Market Research. Demand for smart wearable items among regular users and athletes is anticipated to rise in both developed and emerging nations as a result of rising per capita incomes.
Due to continued developments in the semiconductor sector, original equipment manufacturers (OEMs) can now produce compact, feature-rich products. Sales would be further boosted by demand for compact assemblies, particularly electronics such as smart earbuds. Another motivation for the search for small parts is the need to lower material costs. These factors are anticipated to have a positive impact on market expansion.
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As consumers place more value on their fitness and health, there is an increasing need for smart devices that can entertain them as they exercise. Popularity of video game consoles among sports fans and high demand for fashionable wearable electronics are boosting the uptake of wireless headphones worldwide.
Key Takeaways from True Wireless Stereo Earbuds Market Report:
- The USA true wireless stereo earbuds market is set to reach a valuation of US$ 168.2 billion by 2033.
- The United Kingdom true wireless stereo earbuds market is likely to create an absolute dollar opportunity of US$ 23.3 billion by 2033.
- China true wireless stereo earbuds market is set to reach US$ 45.2 billion valuations by 2033.
- South Korea true wireless stereo market is predicted to exhibit a CAGR of around 25.4% in the forecast period.
- Based on price band, the US$ 100 to 199 segment anticipated to register a CAGR of 24.7% in the assessment period.
“Designs of earbuds are customizable for maximum comfort. They may last for more than just a few stops on the train before needing a quick charge as they have longer battery lives than in the past,” says a lead analyst at Persistence Market Research.
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Competitive Landscape: True Wireless Stereo Earbuds Market
- Apple, Inc.
- Samsung Electronics Co., Ltd.
- Amazon.com, Inc.
- Xiaomi Corporation
- Sony Corporation
- Boat-Lifestyle
- Huawei Technologies Co., Ltd.
- Shure, Inc
- Sennheiser Electronic GmbH & Co. KG
- Bose Corporation
Due to a few prominent producers such as Sennheiser, Bose, Samsung, and Apple among others, and the fact that the market is still concentrated, there is fierce competition. Through significant investments in research and development, key participants are moving towards offering technologically integrated products, giving them a competitive advantage over other leading companies. These players have also expanded their market reach through strategic alliances and mergers & acquisitions.
For instance,
- The XS Wireless IEM in-ear monitoring system was announced for release by Sennheiser Electronic GmbH, a maker of true wireless stereo earbuds with headquarters in Germany, in June 2022. In order to provide a new benchmark for wireless in-ear monitoring, the new XS Wireless IEM was created.
- Momentum True Wireless 3 was announced for release in May 2022 by Sennheiser Electronic GmbH. The earbuds' features include adaptive noise cancellation, multiple Bluetooth codec licensing, and a 28-hour playback warranty on a single charge. Momentum True Wireless 3 comes with 7mm audio drivers that provide immersive stereo sound with true, powerful bass and clear highs.
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Get More Valuable Insights into True Wireless Stereo Earbuds Market
Persistence Market Research, in its new offering, provides an unbiased analysis of the true wireless stereo earbuds market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the true wireless stereo earbuds market based on price band (below US$ 100, US$ 100 to 199, over US$ 200), sales channel (offline, online), and region.
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