Earphones And Headphones Market size to exceed $18.2bn by 2023: Global Market Insights Inc.
“Suppliers emphasize on creating innovative products with entirely new features and properties, allowing OEM manufacturers focus on their core competences. Rapid product development cycles, enhanced customer service, research, development, engineering, and design operations are among key focus areas.”
“Earphones And Headphones Market Size By Technology (Wired, Wireless), By Product (In-Ear, Over-the-Ear), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, India, China, Japan, South Korea, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023”
Global Earphones and Headphones Marketsize was evaluated at $11.68 billion for 2015 and is predicted to surpass $18 billion by end of 2023 registering CAGR of 4.6% during forecast timeframe.Product miniaturization due to changing consumer tastes and technological breakthroughs is predicted to drive profit in future. Enhanced level of compatibility with personal electronics like smartphones, music players and tablets is predicted to positively affect earphone & headphone use. Further, increasing amount of features like Wi-Fi, Bluetooth and Infrared in wireless products are projected to fuel industry growth.
Increased product growth and product differentiation have resulted in earphones& headphones market price trend. Rising incorporation of new features, tough competition, rise in purchasing capacity of consumers and superior branding activities are predicted to drive the industry growth.
However, presence of big unorganized segment in APAC, particularly in nations like Taiwan, China, Indonesia and India can inhibit the industry growth substantially. Further, rising acceptance of counterfeit items owing to cost sensitivity is anticipated to hinder the earphones and headphones market expansion in future.
The industry is segmented into two kinds of technologies that include wired technology and wireless technology.
Wiredearphones and headphones segment size was evaluated at greater than $10.1 billion dollars for 2015 and is predicted to register CAGR of 4.7% during forecast timeframe.
Key technological breakthroughs in wireless items will promote the demand across high fidelity earphones and headphones segment. Active noise control technology for improved hearing experience is predicted to drive the segment growth.
Dealers stress on developing methods to produce more technologically advanced equipments that fulfills customer requirements. All these factors can contribute towards industry expansion.
Europe earphones and headphones market size, by technology, 2012-2023 (USD Million)
Global industry is segmented into earphones, headphones and sport headphones.
Earphones segment share was evaluated at more than 70% of total size for 2015. The growth of this segment is credited to heavy customer demand for its utilization along with portable personal electronic equipments. Factors like increasing smartphones sales, rising disposable incomes and product replacement trends are projected to contribute towards the industry growth.
Headphones segment is predicted to surpass $6 billion by end of 2023. Sports headphones embedded with many features are predicted to gain large industry share during forecast timeframe.
U.S. earphones and headphones market is predicted to register a CAGR of 4.8% and its size is predicted to cross $5.1 billion by end of 2023. Producers areanticipated toadhere to the rules, legislations and standards set by legal authorities like director of federal register and OSHA (Occupational Safety and Health Organization) related to use of exact components in production.
China accounted a large portion of the APAC earphones and headphones industry share for 2015 and is predicted to dominate the regional industry during forecast period.
Browse key industry insights spread across 79 pages with 43 market data tables & 45 figures & charts from the report, “Earphones And Headphones Market Size By Technology (Wired, Wireless), By Product (In-Ear, Over-the-Ear), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, India, China, Japan, South Korea, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents:
Key industry players profiled in the report includes Shure Incorporated, Sony Corporation, Sennheiser Electronics, Panasonic Corporation, Bose Corporation,Apple Incorporation, Grado Labs, Aclair, JVC, Phillips, Pioneer Corporation, Skullcandy and Ultimate Ears.
Current dealers are aiming to grow their distribution channels to sustain in global industry. Producers invest enormously in research & development activities and highlight on creating new products that provide optimum product differentiation and technological innovation.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.