Earphones and headphones market forecast could be driven by the rapid proliferation of AI-enabled headphones, with features including personal assistant, immersive 3D sound, and smart noise-canceling for dramatically improved listening experience. Growing adoption of smartphones along with consumer inclination toward high-quality audio devices is fueling product penetration.
A shift toward video and audio conferencing in corporate sector with the outbreak of novel coronavirus has further increased the demand for high-quality headsets for reducing disturbance during virtual meetings. Rising prominence of Over-The-Top media services, such as Netflix, Spotify and YouTube are further prompting customers to invest in high-quality headphones and earphones.
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Headphones and earphones are majorly used with smartphones and audio devices. Accordingly, the sale of headphones and earphones inheritably linked to that of smartphones. Growing demand for these devices as compared to their counterparts wired and wireless audio speakers will complement the business expansion. According to a survey by the Sol Republic in 2014, the ratio of millennials owning at least three pairs of headphones accounted for nearly 53%, and the number is expected to upsurge in the coming years.
With new firms entering the evolving market and becoming well-known names in a short span of time, the earphones and headphones market is likely to rise significantly in the forthcoming years. Reportedly, JBL, an American audio equipment company, in 2019, reported that it had intended to grow by 200% in India, an eminent market that was estimated to grow nearly 15% up to 2019 alone.
The substantial growth of the earphones and headphones sector is also fall in-line with that of the global video gaming industry. With a greater number of video game studios launching more sophisticated games with enhanced sound design, graphics, and developed stories, the demand for the product among customers to attain the real-time gaming experience will grow substantially.
The product is considered an integral component of the best gaming experience as it let players get more involved with the game. The growing inclination of the youth towards the latest video games will positively impact business growth to a large extent.
The market is segmented into headphones and earphones. The earphones segment is anticipated to experience significant growth on account of the increasing integration of advanced technologies and greater convenience and comfort the equipment render to their users. Also, the portability of the earphones as compared with headphones provides a better handling experience, making them highly preferred among consumers.
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Presence of established players in the North America, including Bose Corporation, Apple, Inc., 3M, Voxx International Corporation, and Plantronics, Inc., that are rapidly developing advanced products will boost the earphones and headphones market growth. For instance, In September 2019, Plantronics, Inc. launched three new true wireless earbuds and headphones including BackBeat PRO 5100. BackBeat FIT 3200, and BackBeat FIT 3150.
Key players in earphones and headphones market worldwide is Beyerdynamic GmbH & Co. KG, Harman International Industries, Inc., Sennheiser Electronic, Audio-Technica Corporation, Bose Corporation, Bowers & Wilkins Group Ltd., Sony Corporation, Beats Electronics LLC, Apple, Inc., Anker Technology (UK) Ltd., Aftershoktz LLC, Olufsen A/S, Skullcandy, Inc and Bang & Olufsen Group.
Major Key Points from Table of Content:
Chapter 5. Earphones and Headphones Market, By Product
5.1. Key trends by product
5.2.1. Earphones and headphones market estimates and forecast, 2016 – 2026
5.2.2. Market estimates and forecast, by technology, 2016 – 2026
5.3.1. Market estimates and forecast, 2016 – 2026
5.3.2. Market estimates and forecast, by technology, 2016 – 2026
Chapter 6. Earphones and Headphones Market, By Technology
6.1. Key trends by technology
6.2.1. Market estimates and forecast, 2016 – 2026
6.3.1. Market estimates and forecast, 2016 – 2026
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