Earbuds market is anticipated to grow at an exponential CAGR of 21.3% during the forecast period. One of the factors that are driving the market is the high availability of music. Music had been an integral part of most people across the globe with all kinds of languages which has become highly available at different sources which were not that easy a few years back. With the availability of multiple music applications on the smartphone, access to music has become far easier than people now can listen to their favorite songs anytime, anywhere without paying a lot. This has increased the interest of people in music as it's easy to access which has grown the demand for earbuds that keeps people in the musical state without disturbing others. Moreover, higher quality of sound in earbuds than in a speaker has also contributed to the growth of the market.  

During the period of the COVID-19 pandemic, the demand for earbuds were increased, as people were consuming different content on their own devices, and working professionals were working from their homes. Several key market players also reported a significant growth in the sales of earbuds and earphones in 2019-2020. For instance, as per the annual report of BoAt 2020, the company’s revenue grew by more than 117% as compared to that of the company in 2019.   

Segmental Outlook 

The global earbuds market is segmented based on the type, price range, and distribution channel. Based on the type, the market is segmented into wired earbuds and wireless earbuds. Based on the price range, the market is sub-segmented into the premium range, mid-range, and low range. Based on the distribution channel, the market is sub-segmented into online, and offline. Among the type, the wireless earbuds segment is anticipated to grow at the fastest rate during the forecast period. The above-mentioned segments can be customized as per the requirements.

Among the distribution channels, the online segment is expected to grow at a significant rate over the forecast period owing to the growing smartphone penetration across the globe. The Consumer Technology Association (CTA) report published in January 2022, predicted that unit shipments of smartphones are expected to grow 3% to 154.1 million. The increasing penetration of smartphones is expected to drive the demand for the earbuds market due to the increased demand for integration of these devices with smartphones for enhanced features. The online distribution channel segment offers a wide range of prices, designs, specifications, brands, and warranties that can be purchased remotely.

Regional Outlooks

The global earbuds market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  Among these, the North America region is expected to hold a prominent share of the earbuds market across the globe due to the robust presence of key market players in countries such as the US and Canada. The market can be analyzed for a particular region or country level as per the requirement.

Global Earbuds Market Growth, by Region 2022-2028

The Asia-Pacific Region is Expected to Grow at a Considerable CAGR in the Global Earbuds Market

The Asia-Pacific region is expected to grow at a considerable CAGR during the forecast period owing to the growing electronics industry in the region. Emerging countries such as China, India, Japan, South Korea, and others in the Asia-Pacific region have witnessed significant growth in the electronics market over the past few years. The growth is primarily due to the presence of key market players such as Samsung Electronics, Vivo, Realme, and several others. China is known as the electronic hub across the globe as it manufactures the largest number of electronics products compared to other countries. Additionally, it is the most populous region which further indicates the huge market potential for new manufacturers of electronic devices such as earbuds. Thus, the region is rapidly gaining traction from new market players to establish its manufacturing facility. For instance, in February 2022, Noise expanded its product line in India with the launch of Noise Buds VS202. The product is embedded with a sweat and water-resistant design along with the 24 hrs battery backup.

Market Players Outlook

The major companies serving the global earbuds market include Apple Inc., BRAGI GmbH, Samsung Electronics, Sennheiser electronic GmbH & Co. KG, Sony Group Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in April 2022, Apple, Inc. announced to launch a successor of its popular AirPods Pro earbuds. The company's 2nd generation AirPods Pro is aimed to replace the original existing model, which eliminates the “stems” for a more solid design and provides updated motion sensors with a fitness tracking focus.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global earbuds market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.