Earphones and headphones market size is expected to grow at a CAGR of around 13% during the period 2019−2025.
Key Highlights Offered in the Report:
- The overall segment of in-ear headphones will add over $14 billion to the global market and is growing with a CAGR of over 13%.
- The true wireless headphones will grow by an unprecedented CAGR of approximately 24% during the forecast period.
- ANC headphones to add around $4 billion in revenue in North America.
- With an increasing inclination of consumer toward online channels for headphone purchase, the revenue from online channels is likely to increase 1.2x from 2019 to 2025.
- The preferred channel for buying wireless headphones by consumers in South Africa is likely to remain with specialist stores selling consumer electronic products.
- Health sensors and other biometric monitoring capabilities are likely to keep wireless headphones morphing into multifunctional gadgets.
- The intense price competition has resulted in local manufacturers with inexpensive product offerings eating into the market share of leading vendors.
- Although the cost of switching brands is monetarily low, it is psychologically high because customers loyal to brand and quality would not switch to low-quality headphones.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by type, technology, features, price range, end-users, noise accentuation, distribution channel, and geography
- Competitive Landscape – Profile of 6 key vendors and 57 other vendors
Earphones and Headphones Market – Segmentation
- Advances in audio technology, along with capabilities to cancel unwanted noise, eliminate sound leakage, and control ambient sound is increasing the share of on-ear headphones. These devices have large earpads and cover the user’s ear, locking in the sound and increasing air displacement, thereby resulting in better audio and perceived soundstage.
- The demand for smart headphones has grown in recent years as an increasing number of consumers focusing on product aesthetics. Major application sectors such as entertainment and sports have witnessed a high adoption since 2016.
- The growing demand for ANC in several audio settings, including hearing protection products and protective communication devices, is driving the transition of ANC headphones into the hearables segment that includes headphones, hearing augmentation solutions, and commercial headsets. In terms of revenues, noise isolations earphones account for a share of over 52% of the global market revenue.
- The growing music industry and the increasing popularity of rapping have a positive effect on the adoption of headphones, particularly those endorsed by singers and celebrities. The manufacturers are collaborating with several music artists to launch specifically designed headphone editions, which are likely to drive the pro headphones market.
Market Segmentation by Type
Market Segmentation by Technology
- True Wireless
Market Segmentation by Features
Market Segmentation by Price Range
Market Segmentation by End-users
Market Segmentation by Noise Attenuation
- Noise Isolation
- No Attenuation
Market Segmentation by Distribution Channel
Earphones and Headphones Market – Dynamics
Advancements in the development of wireless headphones by vendors have prompted future disruptions after smart and mobile devices in the industry. The success of smart wearables has presented a unique viewpoint to vendors as the time taken to bridge the chasm between early adopters and early majority consumers (larger market size) is lesser than expected. Presenting a newer perspective, the adoption of smart watches and other wearables has fueled market opportunities for smart hearables. As a majority of smart devices need a headphone to complete their function cycle, smart headphones have capabilities to be at the center of the user’s connected world. The focus on the improved build quality and integration of real-time problem-solving technologies push headphones into the premium priced category. The headphone industry is incredibly competitive, both from manufacturers and consumer side, and this competitiveness translates to a high influx of expensive purchases, thereby propelling the growth of smart headphones.
Key Drivers and Trends fueling Market Growth:
- Transition of Smart Wireless Headphones into Hearables
- Value-added Features to Become Standard
- Rising Demand from Fitness Enthusiasts driving Sports Models
- Rising Awareness About Hearing Ailments & NIHL Driving ANC Segment
Earphones and Headphones Market – Geography
The US is a leading market in North America. Millennials majorly drive the market, and they can be termed as digital generation. They are tech-savvy, and most of them are addicted to their smartphones. The number of millennials is the largest working force not only in the US but also in Canada. In Canada, 37% of the total workforce comprised millennials. Even the growing number of internet users and the increasing number of music-based mobile applications are driving the market in the region. With the increasing use of headphones as fashion accessories, the market is experiencing tremendous growth. This is driving the popularity and acceptance of headphones, especially among consumers engaged in fitness and sports activities as well as audiophiles. The high average disposable income among the population, the proliferation of smartphones, and manufacture of headphones with advanced features are the main factors that are expected to fuel market growth in terms of shipments and sales in this region.
Market Segmentation by Geography
- South Korea
- Latin America
- South Africa
- North America
Other vendors include – LG Electronics, Avanca, Amkette, Anker, ASUS, Audio-Technica, Beyerdynamic, Band&Olufsan, Creative, Denon, Grado, The House of Marley, JAYS, JVCKenwood, Jabra, Jaybird, Logitech, Monster, Motorola, Nuheara, Panasonic, Philips, Pioneer, Plantronics, Shure, Sol Republic, Turtle Beach, Urbanears, Westone, Alphabet, Bragi, Rowkin, Crazybaby, Earin, Meizu, Waverly Labs, Mymanu, Toshiba, RHA, Xiaomi, Huawei, CB3 Audio, Cowin, Bluedio, MPOW, Ailihen, Kensington, Arbily Tech, Dibidog, Letscom, Koss, Goang-Fann, Alpha Audiotronics, Master & Dynamic, Nokia, Gonoise, JAM, IMAGINE MARKETNG (BOAT).
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