According to a new market report published by Transparency Market Research titled ‘Wireless Earphone Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,’ the global wireless earphone market was valued at US$ 5.10 Bn in 2017. It is expected to reach US$ 10.14 Bn in terms of revenue by 2026, expanding at a CAGR of 8.2% from 2018 to 2026. The market in Asia Pacific is likely to expand at a rapid growth rate during the forecast period, due to a rise in the number of premium brands and strong product innovation among manufacturers.
In terms of distribution channel, the online distribution channel segment is expected to expand at a robust pace during the forecast period, owing to the rapid penetration of Internet services across the world. In addition to this, technological advancements and a rise in the number of smartphone users are expected to boost the online stores segment during the forecast period.
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In terms of market type, the mobile aftermarket segment holds a key share of the wireless earphone market and is expected to maintain its share during the forecast period. At present, smartphone manufacturer’s offer wired earphones with the mobile inbox. As a result of this, consumers are inclined toward the mobile aftermarket.
In terms of region, Europe accounted for a dominant share of the wireless earphone market in 2017. North America also accounted for a prominent share in the wireless earphone market. The U.S. is a significant country of the wireless earphone market in North America. The market in Asia Pacific is anticipated to expand at a rapid CAGR during the forecast period. The market in India and China is likely to expand rapidly as compared to that in other countries. The market in Middle East & Africa and South America is expected to expand at a sluggish pace.