The world report says, “Earphones and Headphones Market revenue is forecast to grow at 3.5% CAGR to exceed USD 25 billion by 2024.” Increasing penetration of devices such as smart phones, portable music players and tablets will drive the industry growth. Changing consumer preferences according to fashion trends and short replacement cycle of these products due to wear and tear will surge the industry growth.
Increasing compatibility with personal electronics and incorporation of headphones in health and fitness activities will positively impact the earphones & headphones market over the coming years. Rising disposable income coupled with changing lifestyles and increasing acceptance of these equipment in corporate sector will contribute to revenue growth.
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The industry has seen a transition from being a home audio equipment to portable AV device. Product minimization, technological advancements, and high degree of compatibility with personal electronics will favor the industry demand over the forecast timeline.
Innovations such as noise cancellation technology, light weight, active noise control for improved music experience coupled with innovations in the field of connectivity like Bluetooth 4.0 and Wi-Fi will act as opportunities for wireless earphones and headphones market.
Rising counterfeit devices which have low cost advantage are pushing customers to incline towards these products. Huge unorganized sectors such as India, China, Taiwan and Indonesia may hinder the industry growth.
Increasing significance of smartphones and portable music players will propel growth across the wired earphones and headphones market. Wireless segment is anticipated to grow at fastest rate during the forecast period owing to the major technological changes taking place. Developments such as Bluetooth, SKAA, infrared are expected to positively impact the revenue growth for the earphones and headphones market. Companies are focusing on aesthetic appeal along with technological offerings which enrich the customer ownership and experience.
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The earphones market accounted for the majority of the 2016 shipments due to the short product replacement cycles, rising demand for consumer electronics such as smartphones, tablets, music players and others coupled with increasing disposable income in emerging nations. Companies and manufacturers are looking to offer product differentiation in terms of value-added features for sports, athletics and others which has led them to focus more on R&D and innovation.
North America earphones and headphones market accounted for more than 35% of the global revenue in 2016 owing to the demand from U.S. China accounted for a large chunk of the APAC earphones and headphones market and is expected to continue its dominance during the forecast timeframe.
Players in this sector include Apple Inc., Beats Electronics, Shure, Bose Corporation, Sennheiser Electronics, etc. Companies are focusing on various strategies such as mergers & acquisitions, technological advancements, R&D investments, etc.
Buy this industry insights spread across 300 pages with 296 market data tables & 31 figures & charts from the report, “Earphones And Headphones Market Size By Technology (Wired, Wireless), By Application (Consumer, Call Center, Industrial, Aviation, Construction, Public Safety), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, China, Japan, India, South Korea, Mexico, Brazil, Saudi Arabia, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
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Table of Contents (ToC) of the report:
Chapter 5 Earphones & Headphones Market, By Application
5.1 Earphones market share by application, 2016 & 2024
5.2 Headphones market share by application, 2016 & 2024
5.3 Earphones
5.3.1 Consumer
5.3.2 Call Center
5.3.3 Industrial
5.3.4 Aviation
5.3.5 Construction
5.3.6 Public Safety
5.4 Headphones
5.4.1 Consumer
5.4.2 Call Center
5.4.3 Industrial
5.4.4 Aviation
5.4.5 Construction
5.4.6 Public Safety
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