True Wireless Stereo Earbuds Market Worth $563.2 Billion By 2030

True Wireless Stereo Earbuds Market Growth & Trends

The global true wireless stereo earbuds market size is expected to reach USD 563.2 billion by 2030, registering a CAGR of 34.9% from 2022 to 2030, according to a study conducted by Grand View Research, Inc. True wireless stereo (TWS) earbuds are integrated with advanced features such as active noise-cancellation technology, AI translation function, high-resolution audio, 3D sound technology, heart rate sensor which is attracting consumers. Thus, increasing consumers’ preference for true wireless stereo earbuds over traditional earphones is expected to drive global market growth. Additionally, rapid technological advancements by earbud manufacturers to provide a better music listening experience are expected to support the growth of the target market. For instance, in July 2021, Boat introduced new true wireless earbuds called Boat Airdopes 501 ANC with Bluetooth 5.2 technology, hybrid Active noise cancellation technology, and better charging support.

True wireless earbuds are gaining traction in the healthcare industry due to the addition of new hearing aid features by manufacturers. Companies like Nuheara Limited, and Apple Inc., have introduced ear id personalization features in their earbuds with the help of microchips. The presence of a microchip enables a user to build a unique sound based on an individual’s ear profile and listening capability. For instance, in August 2021, Jabra launched Jabra’s enhance plus, the latest pair of truly wireless earbuds that can help people with “mild-to-moderate” hearing loss.

The demand for TWS earbuds increased due to the pandemic as many people stayed at home during the lockdown. The work-from-home requirements imposed during the COVID-19 pandemic have also accelerated the demand for wireless earbuds. For instance, in May 2020, according to a report published by InMobi Pulse published that the age group of 25-34 in India relies on technology and is tech-savvy to complete their work and entertain themselves to stay connected digitally.

The shortage of microchips has elevated the gap between the demand and supply of various electronic products. It has caused massive damage as firms worldwide failed to meet the increasing demand for a broad range of electronic components. This is expected to impact consumers immediately through unprecedented challenges such as rising prices and increasing lead times that can be a restraint for market growth.

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True Wireless Stereo Earbuds Market Report Highlights

• The USD 100–199 price band segment led the global market in 2021 and is projected to expand further at a steady CAGR over the forecast period. The rising adoption of entry-level devices is expected to play an important role in driving the segment growth

• North America led the largest revenue share of more than 35% by early technology adoption and a high level of attention paid to health and fitness during the pandemic.

• Several companies, including Skullcandy.com, Apple Inc., Sony Corp., and Bose Corp., hold a significant share of the overall market, and the market for TWS earbuds is highly aggressive. Mainly, these companies focus on enhancing the acoustic feel of their products with new features.

True Wireless Stereo Earbuds Market Segmentation

Grand View Research has segmented the global true wireless stereo earbuds market based on price band, and region:

True Wireless Stereo Earbuds Price Band Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2030)

• Below USD 100

• USD 100 - 199

• Over USD 200

True Wireless Stereo Earbuds Regional Outlook (Volume, Million Units; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Spain

  • Rest of Europe

• Asia Pacific

  • Greater China

  • India

  • Japan

  • South Korea

  • SEA

  • Rest of Asia Pacific

• Latin America

  • Brazil

  • Mexico

  • Rest of Latin America

• Middle East & Africa

List of Key Players in True Wireless Stereo (TWS) Earbuds Market

• Apple, Inc.

• Bose Corp.

• Jabra

• Harman International Industries, Inc.

• Sony Corp.

• Sennheiser Electronic GmbH & Co.

• Xiaomi