The global earphones & headphones market size is expected to reach USD 15.80 billion by 2025 registering a CAGR of 5.9%, according to a study conducted by Grand View Research, Inc. Rising usage of smartphones, tablets, and other handheld electronic devices is expected to be the key factor driving the market. Increasing popularity and online streaming of music is also one of the factors expected to boost the market growth. In addition, technological advancements pertaining to noise cancellation is expected to fuel the market growth. Growing demand for affordable products equipped with advanced features has compelled manufacturers to focus more on innovation and product differentiation.
Furthermore, due to rising awareness about fitness, manufacturers are also developing products that are equipped with fitness tracking and monitoring features. For instance, in October 2018, Bose Corporation introduced its Bose SoundSport Pulse wireless headphones, which can be paired with Bluetooth, are sweat proof, and are capable to track heartrate while performing any activities at the gym. Rising demand for fashionable and trendy products coupled with increasing popularity of smart headphones is also likely to augment market growth. In addition, increasing product usage at workplaces is anticipated to fuel the demand further. However, growing availability of counterfeit products is one the major challenges that may affect the earphones & headphones market growth.
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Further key findings from the study suggest:
Wired technology is expected to be the largest segment over the forecast period due to growing usage of smartphones and tablets
North America captured a substantial portion of the earphones & headphones market, which is primarily attributed to the high market penetration and technological advancements. Additionally, the presence of some big companies, such as Beats, Bose, and Skullcandy, has revolutionized the regional market with the availability of high-end products
The earphones segment held a significant market share in 2018 and is likely to maintain its dominance from 2019 to 2025. This is primarily attributed to the growing demand for wireless earphones
The market is highly competitive and fragmented marked by the presence of prominent companies, such as Apple, Inc.; JVC; Sony Corp.; Skullcandy, Inc.; Bose Corp.; Sennheiser Electronic; and Shure Inc.
Most of these companies emphasize on R&D for product differentiation and to improve product quality and reliability
Grand View Research has segmented the global earphones and headphones market on the basis of product, price, technology, application, and region:
Earphones & Headphones Product Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
Earphones & Headphones Price Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
Less than 50 USD
Between 50 to 100 USD
Above 100 USD
Earphones & Headphones Technology Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
Earphones & Headphones Application Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
Virtual Reality (VR)
Music & Entertainment
Earphones & Headphones Regional Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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