Global Earbuds Market is expected to reach at $25109.70 million by 2023
Published Date: 2018/10/23
Earbuds rest inside the outer ear, with their speakers aimed into the ear canal. Smart Earbuds market is a significant part of hearables market.
The Earbuds market has witnessed significant growth in the past few years (since 2015), and is expected to maintain this trend during the forecast period. Compared to 2017, Earbuds market is forecasted to increase sales by 78.59 percent to 5194.80 million USD worldwide in 2018 from 2908.72 million USD in 2017. It shows that the Earbuds market performance is positive, despite the weak economic environment.
The Earbuds market consists of a well-established group of brand name manufacturers and new entrants. Crowdfunding campaigns have showed that there is plenty of scope for innovation. The world leading players in the Earbuds market are Apple, Samsung, Sony, GN (Jabra), Bragi, Doppler Labs, Skybuds and so on. These Top companies currently account for more than 80% of the total market share and are expected to retain their dominating hold over the market during the forecast period. As consumer interest increases, this market will attract other major companies which want to extend their brand equity.
The downstream buyers of Earbuds product are general public, the consumers choose this smart Earbuds with a variety purpose of training, activity tracking, music and phone, as well as sound control and hearing safety. In the vertical of applications, the consumer segment took a market share of 71.86% in 2017, in terms of revenue. On the contrast, the healthcare segment took 28.14%.
The global Earbuds Market size was valued at $2908.72 million in 2017, and is expected to reach at $25109.70 million by 2023, growing at a CAGR of 37.04% from 2018 to 2023. And China market is expected to keep being the biggest output market with market share of 74.25% in 2023.
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