Market Research Future published a research report on “Wireless Earphone Market Research Report – Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Research Future (MRFR) in its latest report on the global wireless earphone market 2020, states different factors that determine the market progress rate. An in-depth evaluation of the impact of COVID 19 on the wireless social distancing market is also provided with the report. As per MRFR study, the expansion of the wireless earphone market can rise at 6% CAGR across the analysis period. The wireless earphone market valuation can reach USD 2.61 Bn by 2023. The rise in awareness about convenient features of wireless earphones such as, infused microphone, access through Bluetooth technology, and volume control among others can promote the expansion of the Wireless Earphone Market in the years to come, reveals MRFR study.
The global wireless earphone market’s competitive landscape comprises of well-established players and potential start-ups. The competition is intensifying as these players focus on the amplification of market share via collaborations, innovation in production technology, mergers & acquisitions, and response to changing behavior of consumers. Motorola, Inc. (U.S), Philips N.V (Netherlands), Samsung Group (South Korea), Harman International Industries (U.S), Apple Inc. (U.S), and, Skullcandy Inc. (U.S) are among others are some reputed players of the wireless earphone market as stated by MRFR.
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Global Wireless Earphone Market Segmentation
The segment evaluation of the global wireless earphone market is based on technology, application, components, and point of sales.
The component based segments of the global wireless earphone market are service, hardware, and software. The software segment can gain high traction for the market.
The technology based segments of the global wireless earphone market are Bluetooth, Wi-Fi, and NFC. The growing utility of NFC among end-users can support the growth of the wireless earphone global market.
The application based segments of the wireless earphone market are music & entertainment, gaming & virtual reality, sports & fitness, and, others. The rise in military, following entertainment applications, can impel the expansion of the market in the study period.
The point of sale based segmented of the wireless earphone market are exclusive showrooms, multi-brand electronic stores, online sales channel, hypermarket and supermarket stores, and, others. The rapidly growing online sales trend can promote the expansion of the wireless earphone market across the analysis period.
AAPC, North America, EU, and the Rest of the World (RoW) are studied to understand the trend of the wireless earphone market. The wireless earphone market in North America can thrive at the highest pace across the analysis period. The rise of the regional market can be attributed to the early adoption modern technologies and increase in the demand for convenient solutions. The pent up demand for wireless earphones in music & entertainment, gaming & virtual reality, and sports & fitness sectors can boost the rise of North America wireless earphone market in the analysis period. The need for the technology in the U.S. is expected to boost the rise of the market across the analysis period. The large-scale production of wireless earphones and high ingression of tablets, smartphones, and other electronic gadgets can promote the expansion of the regional market. In EU, the penetration of convenient wireless earphones can boost the rise of Europe market. Additional factors, such as adoption of next-gen technology and ongoing trends in the music industry can also support the expansion of the market in the analysis period. In APAC, the wireless earphones market is likely to boom in the years to come. The regional market is expected to acquire high revenue for the market in the analysis period.
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