Earphones And Headphones Market Size, Share & Trends Analysis Report By Price Band (>100, 50-100, <50), By Product (Earphones And Headphones), By Technology, By Application, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global earphones and headphones market size was valued at USD 58,259.2 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.6% from 2023 to 2030. Increasing adoption of earphones and headphones during the workout is primarily expected to drive the market growth over the coming years. Gym-goers waste 30% of their workout time in chatting, tangling earphones and headphones wires along with other workout distractions, and only 40 minutes of every hour is spent on exercise. More than 25% the people spend 10mins in untangling their headphones. This is also expected to be a primary reason why customers will prefer wireless earphones and headphones over the coming years.

Manufacturers target fitness-conscious customers by offering innovative features such as fitness monitoring and tracking in headphones. For example, the BioSport Audio in-ear headphones powered by Intel provide health monitoring functions that require no special chargers or batteries. BioSport relies on built-in sensors and unique software to operate as a pedometer, heart monitor, and other biometrics. Besides, the earphones and headphones software is designed in a way through which a user can plan, monitor, and execute fitness activities via a mobile application. For instance, in 2017, GN Store Nord A/S introduced Jabra Elite Sport wireless earbuds that enable the user to monitor the heart and cardiovascular data based on which the users can structure their workout. These earbuds can also provide data on an athlete’s current fitness level based on the training regimes while offering data on rest and recovery time as well.

Top brands are investing a lot of money in designing their earbuds to cater to the fitness industry’s demands. Fitness products require enhanced durability as they are often subjected to wet and dusty environments. Companies like GN Store Nord A/S (Jabra), Sony Corporation, and Jaybird are working with athletes and health club owners to provide fitness-based features and better ergonomics. The earbuds are being offered with IPX ratings making them sweat and splash-proof to improve life and quality to suit the fitness industry. IP (Ingress Protection) or, in some cases, IPX rating, defines the level of protection that is being offered to the product against dust and water. Some of the safety ratings are IP 54 which offers resistance to dust and water splashes; IP55 which offers resistance to dust and low-pressure water jet spray; and IP 57 which offers a completely dust-tight unit, which can survive high pressure and a heavy spray of water. Such useful features and some significant development in product technology are expected to keep the product in demand over the forecast period.

Product Insights

The market for earphone accounted for 89.40% of the overall share in 2022 and is anticipated to witness a CAGR of 13.2 % within the forecast period. Increasing consumer demand for higher fidelity and style may favorably impact market growth. The growing popularity and adoption of smartphones, tablets, laptops, portable music players, and other mobile devices are expected to catapult the earphones demand over the forecast period. Further, a focus on compatibility with all the aforementioned portable electronic devices may spur earphones market demand over the next few years.

The headphone market is anticipated to register a CAGR of 4.2% from 2023-2030. The growth is attributed to rising demand for trendy headphone as well as specialized headsets catering to various applications like gaming, audiophile, and fitness is expected to drive market growth.

Price Band Insights

The 50-100 USD segment is expected to register healthy growth considering that several products of top brands fall under this category. Meanwhile, the <50 USD segment will witness steady growth due to several small brands introducing new products with advanced features at affordable prices. Meanwhile, the COVID-19 effect is also expected to contribute to the growth of this segment as individual income has been affected and they are anticipated to seek low-priced products.

With the introduction of truly wireless earbuds, the <100 USD segment has been boosted as the lookout of young consumers is towards trendy designs and advanced features, which are all on offer in the wireless earbuds. These products are normally charged high, and the consumers don’t mind spending money to buy such trending products.

Technology Insights

The wired technology segment is expected to account for a revenue share of 11.75% in 2022 and is expected to reach USD 12,468.0 in 2030. 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 category such as SKAA, Bluetooth, Artificial Intelligence, Augmented Reality, and Wi-Fi are anticipated to escalate the demand. Furthermore, the introduction of wireless earbuds has boosted the sales of wireless products and is one of the prime reasons for the growth of the wireless segment.

Application Insights

With better internet penetration and several music subscriptions available, more and more people have started using music streaming services. Besides, the ongoing pandemic situation has boosted the entertainment industry, the OTT platforms are witnessing more subscriptions during lockdowns. This has significantly contributed to the growth of the music and entertainment segment.

The fitness segment is expected to witness high adoption of wireless earphones, with the inclusion of fitness trackers and heart rate monitoring in the earphones. The fitness trackers allow the athletes and individuals to monitor and plan their daily workout regime, diet, calories burnt, and distance covered. The heart rate monitoring technology measures the heart rate through the ears and transmits the Beats Per Minute (BPM) data to the smartphone application, which can be used to plan the workout. Brands like Bose Corporation, Jabra, Sony Corporation, and Samsung Electronics Co., Ltd. have introduced fitness tracking and heart rate monitoring.

Regional Insights

The demand for earphones and headphones was highest in the Asia Pacific region, accounting for 33.78% of revenue share in 2022 with a CAGR of 18.2% from 2023-2030. Presently, the Indian market is emerging as a hot battlefield for wireless technology, with the emergence of new local vendors like boAt that have grabbed the attention of several consumers and competitors alike. The company is engaged in vigorous product research and has launched numerous TWS products in the Indian market. It has launched new wireless earbuds Airdopes 631 at competitive pricing, which are equipped with Qualcomm aptX audio technology, which provides call noise isolation.

Furthermore, increasing consumer disposable income, especially in developing countries such as India, China, and Brazil, is expected to significantly propel market demand for earphones & headphones in the Asia Pacific and Latin American region. The North American and European region is expected to witness steady growth, owing to the continuous adoption of premium earphones & headphones.

Key Companies & Market Share Insights

The major players operating in the market are Apple Inc., Bose Corporation, Harman International Industries, Incorporated, Sony Corporation, Sennheiser Electronics GmbH & Co. KG, GN Store Nord A/S, and Skullcandy.com. Players' approach toward the introduction of new products to attract new customers is expected to intensify the competition in the market. For instance: In February 2022, Sony Group Corporation collaborated with Niantic, a gaming company to provide headphones that feature auditory Augmented Reality technology in order to fuse reality with games for gaming users. This collaboration was expected to strengthen the company’s position in the gaming market. Some prominent players in the global earphones and headphones market include:

• Alclair Audio, Inc.

• Apple, Inc.

• Bose Corporation

• Grado Labs

• Harman International Industries, Incorporated

• JVC Kenwood Corporation

• Koninklijke Philips N.V. (Philips)

• Logitech, Inc. (Logitech International S.A.)

• Panasonic Corporation

• Plantronics, Inc.

• Pioneer Corporation

• Sennheiser Electronic GmbH & Co. KG (Sennheiser)

• Shenzen Cannice Technology Co. Ltd.

• Shure Incorporated

• Skullcandy, Inc.

• Sony Corporation

• Ultimate Ears, LLC (Logitech)

• Zebronics India Pvt. Ltd.
  

Earphones And Headphones Market Report Scope

Global Earphones And Headphones Market Report Segmentation

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global earphones and headphones market report on the basis of product, price band, technology, application, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Earphones

  • Headphones

• Price Band Outlook (Revenue, USD Million, 2018 - 2030)

  • <50

  • 50-100

  • >100

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Wired

    • ANC

    • Others

  • Wireless

    • ANC

    • Bluetooth

    • NFMI

    • Smart Headphones

    • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Fitness

  • Gaming

  • Virtual Reality

  • Music & Entertainment

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Spain

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • UAE

    • Saudi Arabia

    • South Africa