According to the research report titled ‘Global Wireless Earphone Market Size study, by Application (Gaming, Virtual Reality, Fitness, Music & Entertainment), by Distribution Channel (Offline, Online) and Regional Forecasts 2020-2027’ available with Market Study Report, global wireless earphone market was valued at USD 2.1 billion in 2019 and is projected to register a CAGR of 5.8% over the period of 2020-2027.
 

For the record, the wireless earphones use the latest technologies such as Bluetooth, Wi-Fi and NFC (near-field communication) to transfer audio signals through IR (infrared) or radio signals, thereby giving the required sound output.
 

According to the report, the portable nature of the device allows the user to move freely while using them which is contributing to the popularity of wireless earphones. Moreover, it consists of a rechargeable battery that can last up to 20 to 30 hours.
 

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Rising adoption of wireless earphones for video gaming, communications and listening to music is a major factor propelling the growth of global wireless earphone market. Furthermore, increasing use of smart phones coupled with rising internet penetration across the globe is fueling the market size.
 

In fact, China accounted for around 829.0 million users in the year 2019. Similarly, PubMatic states that around 3.04 billion mobile internet users were recorded across the globe in the year 2018. This number is projected to reach around 3.71 billion through 2022, which in turn is fueling the expansion of global wireless earphone market.
 

The unexpected outbreak of COVID-19 pandemic has led to temporary suspension of multiple manufacturing sites, thereby drastically affecting the consumer electronics vertical. The lockdown imposed by several governments across the world has led to slowdown of production due to the inaccessibility to raw material. This restricted availability of raw materials is expected to impede the expansion of global wireless earphone market in the near future.
 

Regionally, North America accounts for majority of the market share, primarily due to high concentration of wireless earphone vendors along with rising adoption of the product for fitness and gaming.
 

On the other hand, industry experts claim that Asia-Pacific wireless earphone market is expected to grow significantly, recording the highest CAGR over the period of 2020-2027. Upsurge in disposable income along with rising adoption of smartphones is augmenting the regional market growth.
 

The key participants of global wireless earphones market include Japan Victor Company (JVC) Ltd., Shure Incorporated, Beats Electronics LLC, Jaybird, Sennheiser Electronic GmbH & Co. KG, Sony Corporation, OnePlus Technology Co. Ltd., Samsung Group, Bose Corporation, and Apple Inc. among others.