2023消费电子出海白皮书-蓝牙耳机市场深度解读

2023 2023.12 INDEX 01 耳机市场规模 未来发展前景 02 日常听音场景专业运动场景沉浸娱乐场景 03 市场格局 用户需求 01 500 ( ) ••5.0•• •A2DP • •• 23’-26’CAGR 8% 21’-23’CAGR 18% 12’-16’CAGR 19% $38 $68 16’-21’CAGR 48% $373 $289 $77$164 $476 $46 $576 $679 $769 $819 $859 $37 201220132014201520162017201820192020202120222023E2024E2025E2026E - 2008 A2DP 2010 4.0 2016 5.02020 5.2 2010 OnkyoSony BragiTheDash 2016 APPLE 3.5mm iPhone7 2017 SAMSUNG Android ios 2018 Android 2019 3.5mm – … • • • • • 360 • • • – TWS   25% 2023 /… 37% 2027 + 47% Airpod3AirpodPro2 / 02 Part2. TA TA AM8:30AM11:30PM1:00PM4:00PM7:00 3 TATATATA TA  TA  • Hi-Res • • • • • – •Airpods • •Airpods • •• •Haylou• • • •Oraimo Volkano 8% 14% 6% 5% 45% 30% 7% 3% 8% 3% 7% 7% 12% 5% 24% 15% 11% 19% 2% 0% 16% 7% 3% 6% 1% - >$300 • • • $135~300 • • $35~135 • • $15~35 • • <$15 - 2023E byvolume >$300 • 0%30%60% • 0%30%60% • 0%30%60% • 0%30%60% • 0%30%60% $135~300 $35~135 $15~35 <$15 - 43% 17% - 2015 Sony LDAC SONY 2021 Aptxlossless 2021 2023 L2HC CD CD Airpods HuaweiFreebudsPro3 $213 SONY LDAC 150 VivoiQooTWS1 $53 SonyLinkBudsS $178 VIVO HUAIWEI200 CD AirpodsPro2 $169 - AI SkullCandyRailANCTWS2023 $99.99 SonyWF-1000XM5 2023 $299.99 77% 55% - +X + HUAWEI2022 2022 $125 HonorEarbuds3Pro 2023 $205 HuaweiFreeBudsPro2+ +x … OnePlusBuds 2023 $120 Pro2 - Hi-ResLDACAptxlosslessKOL Beats1 BGC •& •CTV/OOH PGC •KOL • - 123 BGC Bose Before → After → – NOTHING 2020  OnePlus() Ear(2) $149 Ear(stick) $99 4.5gHi-res4.4g 36hr12.6mm 60+2 2022 96M 2023  Phone(2) $699 NothingOS2.0 50MP6.7 LTPOAMOLED NOTHING – ( ) NOTHING Selfridges NOTHING 2021 NOTHINGEar(1) 20233Ear(2) 28.3 KithKaDeWeLaneCrawford Ear(2) ShortCircuitWVFRMPodcaWaveformClips156.2 – NOTHING NOTHING NOTHING 20217NOTHINGStockX 1001,02910 Part2. TA • • … • • • • (+) ••• •• ••• •• •• •&• • 0-1 •• •• ••/• • ••• • •• •/• • •• •• •• - - - >$300 • $135~300 • • • • $35~135 • • $15~35• <$15 - - ShokzOpenRun(2021) $129.95 OladanceOW1(2022) $129.99   /  /  - /•Openswim $149.95 ••IP682M2Hrs •4GB1200 • / •UnigearBombing $69.99 ••20 • • - /   - –&KOL–& KOL TOZOIns KOL Andrewwhenderson152.2 5 campaign SHOKZ KOL BGC runmeb 12.2 Paul_chelimo12.2 – SHOKZ 2011  OpenRun $129.95 OpenFit $179.95 8 60 2022 468 2022 43.2 2023 28  OpenComm2 $159.95 – SHOKZ  Shokz 2011 SportzM1 2020 2013 Bluz 2020 OpenMove SHOKZ 3,800+ 2023Shokz SHOKZ SHOKZ – SHOKZ 2016 BestBuyCostco SHOKZ SHOKZ austinmarathon2.4 5km rundisney 60.8 Htcrelay 1.3 200 SHOKZINSTAGRAM 2022 SHOKZ 3 SHOKZ – SHOKZ KOL/KOC SHOKZ SHOKZINSTAGRAMBEOPEN“ @AALIONTHERUN1 # … # … SHOKZ Part2. / • • • • • • • ••• ••• (+) ••• ••• ••••• • ••••• • ••& • 0-1• • • • ••• • ••• ••• •IP •• - <$35 •40 + • HIFI • • >$300 • • $135~300 • $35~135 • • - SonyWH-CH720N(2023) 192g 2022 300 25% 70% 23.2% AirpodsMax2020 17.6% SonyWH-1000XM5 2022 $289.99 8APP 20 250 2023 $349.95 2 B&OBEOPLAYH95 2020 $999 5 BeatsStudioPro - SennheiserMomentum4Wireless 42mm BoseQuietComfortUltra B&OH95 BeatsStudioPro BeatsStudioPro – Master&Dynamic: 2014  JonathanLevine 1940 MW75 $599 32 MH40Wireless $399 30 40mm40mm 15+ INSTAGRAM 3.2+ 20232023  MW08 $299 42 11mm IP – MASTER&DYNAMIC M&D2017 M&D M&D  M&D2019LV LV 2020 LV M&D  2020 LV Ins167 M&D  – 2022 INSTAGRAM MASTER&DYNAMIC KOL M&D ### ,17.6% ,23.5% #### ,11.8% # # ,11.8% DJ,35.3% ## #DJ# # #  2016M&D BrooklynWet  M&D – MASTER&DYNAMIC  Slowear  03 () 2026e202323’-26’CAGR * US$38US$30 6US$28 US$54 US$94US$92 US$88 11.0%  10.0% 7.6% 25.0%  8.2% 7.1% 11.9% ( 2023vs2026 ) 120 (US$) 100 2023 US$4.5 2026 US$6.0 2023 US$87.9 2026 US$117.0• • 10% • • 80 (/ ) 70220370 2023 (vs2019) • US78.2% (+22.9%) CA69.6% (+47.2%) / 3 10 8 ( ) • • US9.4% (-18.2%) CA19.0% (-30.4%) US21.8% (-22.9%) CA30.4% (-46.7%) US2.0% (-1.5%) CA8.7% (-14.0%) / US10.4% (-3.1%) BestBuy CA2.7% (-2.4%) Tips • • • DTC ( APP) Tips • • • Z • 4 • TA • • TA • • • 4 TA • TA • • • • ( 2023vs2026 ) 170• 2023 2023 US$16.6 2026 2023 US$15.1 US$29.0 US$11.5 2026 2026 US$12.9 (US$) 1502026• 130 110 2023 2023 US$11.7 US$9.4 US$4.9 2026 • • US$14.9 90US$6.0 (/ ) 70170 • • UKDEFRESIT 33.0%62.8%36.0%47.9%44.4% (-22.7%)(-8.4%)(-4.8%)(-1.5%)(-13.1%) (-2.3%) - % (-2.9%)(-0.9%)(-0.7%) / / UK DE FR ES IT / 39.5% (-25.2%) 72.4% (-10.7%) 55.6% (-8.8%) 63.8% (-2.8%) 54.0% (-11.8%) UK 6.2% DE 1.4% FR 11.6% ES 10.1% IT 6.7 • • UK 0.4% DE 8.3% FR 8.0% ES 5.7% • IT 2.9% UK 60.5% (+25.2%) DE FR 27.6%44.4% (+10.7%)(+8.8%) ESIT 36.2%46.0% (+2.8%)(+11.8%) / 2023 (vs2019 ) (-0.1%)(-2.3%)(-1.1%)(-0.4%)1.9% Tips • • PR • SEOSEM Tips • • •X •3 TA • • TA • • • •4 4 TA • TA • • • ( 2023vs2026 ) 135 2026 US$12.6 2026 US$5.8 2023 US$4.7 2026 US$5.8 2023 2026 • US$4.4 (US$) • 105 75 2023 US$8.7 2023 US$4.3 2023 US$5.0 2026 US$