A three-pronged approach was followed for deducing the earphones and headphones market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for earphones and headphones market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of earphones and headphones market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The earphones and headphones market was categorized into four segments, namely product (Earphones, Headphones), price band (<50, 50-100, >100), technology (Wired, Wireless), application (Fitness, Gaming, Virtual Reality, Music & Entertainment), region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).
The earphones and headphones market was segmented into product, price band, technology, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The earphones and headphones market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eighteen countries, namely, the U.S.; Canada; the UK; Germany; France; Spain; Italy; China; India; Japan; Australia; South Korea; Brazil; Mexico; Argentina; UAE; Kingdom of Saudi Arabia; South Africa.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The earphones and headphones market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Alclair Audio - Alclair Audio, a privately-owned company, specializes in the production of in-ear monitors for both professional musicians and music enthusiasts. As a founding member of the In-Ear Monitor International Trade Organization (IEMITO), it plays a significant role in the global headphones market, which comprises in-ear manufacturers, dealers, and suppliers. Alclair Audio provides a range of services to its customers, including in-ear monitor care and support, repair services, and reshelling services. The reshelling service is a unique offering that allows customers to personalize the color of their products. Despite its limited presence, the company has managed to establish a footprint in the U.S., Australia, New Zealand, and South Africa.
Apple Inc - Apple Inc. is a company that manufactures and supplies mobile communication and media devices, as well as personal computers. It also offers a variety of software, services, accessories, and third-party digital content and applications. Its product and service offerings include the iPhone, iPad, Mac, wearable devices, and accessories. Earphones and headphones are part of the company’s wearable, home, and accessories product portfolio. In addition to earphones and headphones, the category includes Beats products, iPod touch, Apple TV, HomePod, Apple Watch, and other accessories.
Bose Corporation - Bose Corporation, a privately-owned company, specializes in the production and distribution of electronic equipment. Its product range includes home theaters, radios, headphones, speakers, CD players, and professional sound systems. These products and services cater to various commercial applications such as hotels, performance centers, auditoriums, and stadiums. Bose also produces a broad spectrum of audio products, including home audio systems, professional sound systems, headphones and headsets, automotive sound systems, and equipment for musicians. Additionally, it manufactures scientific products like ElectroForce advanced test instruments for research and development of bio-engineered materials. As of December 2020, Bose’s products are utilized in professional systems, automotive sound systems, and military applications. The company has a global presence, with markets in North America, Asia Pacific, Europe, and the Middle East & Africa.
Grado Labs - Grado Labs, a family-owned private enterprise based in the U.S., specializes in the handcrafted production of headphones and cartridges. The company’s offerings extend beyond manufacturing to include a variety of audio headphones, phono cartridges, amplifiers, and additional accessories. Grado Labs’ operations are divided into two main sectors: headphones and cartridges. The cartridge division encompasses the Prestige Series, Timbre Series, Lineage Series, and Specialty Series. Meanwhile, the headphone division boasts an extensive selection, including the Wireless Series, Prestige Series, Statement Series, Professional Series, In-Ear Series, and other accessories. Grado Labs has established robust partnerships with several commercial brands, including Reebok, Harley Davidson, OREO, and Microsoft Corporation, demonstrating its strong presence and influence in the industry.
HARMAN International Industries, Incorporated - HARMAN International Industries, Incorporated, a fully-owned subsidiary of SAMSUNG Electronics Co Ltd, is a global manufacturer of connected products and solutions. These include connected car systems, audio and visual products, enterprise automation solutions, and connected services. HARMAN International caters to a wide range of applications in the automotive industry, as well as to private consumers and enterprises worldwide. As part of SAMSUNG Electronics Co. Ltd, HARMAN International operates under one of the five business divisions of the parent company, which include Consumer Electronics, IT & Mobile Communications, Device Solutions, Display, and Harman itself.
JVC KENWOOD Corporation - JVC Kenwood Corporation is a company that specializes in the provision of digital products across the automotive, media, and public service sectors. Operating under the unified corporate brand of JVCKENWOOD, the company encompasses three distinct brands: JVC, Kenwood, and Victor. The company’s operations are divided into several business divisions, including the automotive sector, media service sector, public service sector, and digital transformation. The media sector division includes earphones and headphones among its offerings. This media business is further subdivided into four units: solutions for professional-use video cameras, projectors, and other products; lifestyle products such as headphones; imaging devices that include image display elements; and a brand business that oversees licensing. Additionally, the Entertainment business falls under the management of JVCKENWOOD Victor Entertainment Corporation.
Koninklijke Philips N.V. - Koninklijke Philips N.V., the parent company of the Philips Group, is a provider of digital healthcare products. The company operates through four key segments: Diagnosis & Treatment businesses, Personal Health businesses, Connected Care businesses, and others. Among its offerings, it provides earphones and headphones through its Personal Health Businesses. This division also offers a range of other products including oral healthcare, mother and child care, personal care, and domestic appliances. As of 2019, the Personal Health Businesses division employed approximately 16,000 people globally. The company’s earphones and headphones are offered under the sound and vision category, which also includes TV & Video, audio, communication, and other accessories such as batteries & chargers, power solutions, mobile accessories, and computer accessories.
Logitech - Logitech, a renowned manufacturer and marketer of wireless products, provides a wide array of audio and video devices, speakers, headsets, gaming equipment, mice, trackballs, keyboards, digital pens, lap desks, webcams, and universal remote controls. Catering to a diverse clientele, Logitech offers PC peripherals, tablet keyboards, gaming gear, mobile speakers, earphones for music and sports lovers, and home entertainment and control products under various brands such as Logitech, Logitech G, ASTRO, Gaming, Streamlabs, Ultimate Ears, Jaybird, and Blue Microphones. Operating under a single segment named Peripherals, the company further classifies its offerings into Creativity & Productivity, Gaming, Video Collaboration, Music, and Smart Home. The Music product portfolio boasts of mobile speakers and audio & wearables, encompassing PC speakers, PC headsets, in-ear headphones, and premium wireless audio products. Logitech’s commitment to innovation and quality ensures it remains a trusted name in the industry.
Panasonic Corporation - Panasonic Corporation, a globally recognized Japanese multinational, specializes in the production of electronic products and devices for both consumer and commercial markets. The company’s operations are strategically divided into six business segments. These include Appliances, which covers a range of household and kitchen appliances; Life Solutions, focusing on products that enhance everyday living; Connected Solutions, offering advanced communication and information solutions; Automotive Solutions, providing automotive-related products and solutions; Industrial Solutions, delivering high-performance components and systems; and a segment dedicated to China and North-East Asia, signifying Panasonic’s commitment to these significant markets. This structure allows Panasonic to cater to diverse needs while maintaining a strong presence in the global electronics industry.
Plantronics, Inc. - Plantronics, Inc., a global communications company, is dedicated to delivering comprehensive communications and collaboration solutions. Its extensive product portfolio encompasses headsets, voice and video solutions, content sharing solutions, and other peripherals such as cameras, speakers, and microphones. In March 2019, Plantronics, Inc. rebranded itself as Poly and now operates under two primary segments: products and services. The product segment offers a diverse range of headsets, voice products, and video products. The headset product portfolio, in particular, provides a complete audio communication solution, featuring ergonomically designed headsets, audio processors, and other solutions tailored for contact centers. These products primarily cater to small offices, home offices, enterprises, contact center employees, and remote workers, demonstrating Poly’s commitment to enhancing communication across various work environments.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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