The global true wireless headphones market is expected to grow at a CAGR of over 17% during the period 2019–2025. Music enthusiasts are investing in high-quality earphones that are compatible with portable devices for high-sound quality and enhanced audio experience. Mobile devices have emerged as the preferred medium for consuming online media. Since 2010, the global smartphone market has witnessed unprecedented growth. Smartphone shipments crossed 1.5 billion in 2015 and crossed over 2.0 billion in 2019. Globalization and the increased number of mass media channels have made millennials aware of a wide range of cultures and music genres. About 49% of millennials watch videos on their mobile devices.
Moreover, millennials are three times more likely to watch videos on their mobile devices than baby boomers. Therefore, millennials invest in premium earbuds that are compatible with smartphones and handheld portable mobile devices such as iPods, MP3, and MP4 players. Hence, changing lifestyles are driving the growth of the global true wireless headphones market.
The smart true wireless headphones market is expected to constitute about over 70% of the market revenue, growing at a CAGR of over 21%.
The low-range segment is likely to lose its share to moderate-range devices segment on account of the arrival of smart true wireless headphones and affordable moderately priced devices.
The noise cancelation segment in North America is projected to observe an incremental growth of $3 billion on account of an increase in the spending power of millennials, high adoption of smartphones, and inclination to adopt new technology.
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