The global earphones and headphones market size is poised for high growth over the forecast period owing to recent technological advancements in these devices and improved design. The emergence of active noise cancellation techniques resulting in minimization of disturbance caused while listening, giving a better listening experience to consumers, is estimated to fuel headphones market growth. Increasing consumer disposable income, especially in developing countries such as India, China, and Brazil, is expected to significantly propel market demand. In addition, growing adoption in gyms and offices is anticipated to drive the headphones market over the next seven years.
Increasing consumer demand for higher fidelity and style may favorably impact market growth. Growing popularity and adoption of smartphones, tablets, laptops, portable music players and other mobile devices is expected to catapult the earphones market. Further, focus on compatibility with all the aforementioned portable electronic devices may spur earphones market demand over the next few years.
U.S. earphones & headphones market by product, 2012 - 2022 (USD Million)
Design and technology used in manufacturing has significantly evolved over the recent past. Growing adoption of smartphones, tablets, and other such portable devices has significantly made earphones a necessity device in the contemporary environment.
The emergence of Beats Electronics considerably changed the global industry. Beats incorporated several features in earphones including high performance, exaggerated bass, acoustic fidelity and fancy appearance, which increased market demand for earphones and stimulated many other companies without the acoustic background to swarm into this field. Furthermore, benefits such as high quality of digital listening offered by headphones have instigated people to adopt it for increasing their listening experience in devices such as tablets, smartphones, and home audio appliances.
Technological advancements have significantly shifted the headphones category from being a predominantly home audio accessory to being a premium portable AV accessory. Technological developments in wireless products such as SKAA, Bluetooth, infrared and Wi-Fi have escalated the demand for these devices. In addition, products equipped with microphones, as well as those integrated with exercise and fitness features are increasingly being adopted by consumers worldwide. Advanced technical features and benefits such as sharing files and calling may contribute positively towards headphones market growth.
North America is expected to be the largest market in terms of revenue closely followed by Europe over the next few years. This may be attributed to the already established market coupled with the presence of a higher proportion of tech-savvy people in these regions. The presence of major industry players in the region such as Beats Electronics, Bose Corporation and Sennheiser Electronic, who continuously invest in R&D and emphasize on innovation and creative solutions for competitive advantage, has spurred adoption of high-cost products.
Asia Pacific is expected to exhibit high growth over the forecast period. The growth may be significantly attributed to rising consumer disposable income in the region especially in developing countries including China, India, Taiwan, and Indonesia. Most of the major industry players are investing heavily in China owing to the presence of low-cost technology and cheap labor in the region. However, increasing the availability of counterfeit products designed and manufactured especially in China, may be a threat to the large MNCs and pose a challenge to the regional earphones market growth.
Competitive Market Share Insights
The global earphones and headphones market is highly competitive and fragmented. Key industry players include Aclair, Apple Inc., Bose Corporation, Grado Labs, JVC, Panasonic Corporation, Philips, Pioneer Corporation, Sennheiser Electronic, Shure Incorporated, Skullcandy, Sony Corporation, and Ultimate Ears. Industry players invest heavily in R&D for developing techniques for innovation in order to achieve maximum product differentiation and increase presence. The market is also experiencing continued emergence of new manufacturers offering products across all price categories. Existing manufacturers are increasingly focusing on enhancing their network and distribution channel through multiple partnerships in order to cope with the growing competition from new vendors
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