Market Research Future published a research report on “Earphone and Headphone Market Research Report - Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Overview:
Rise of portable devices for listening and consuming digital content has created a market for earphones and headphones. Wired and wireless are two major types of devices being prominently used. The global earphone and headphone market report by Market Research Future (MRFR) covers all parameters affecting the market and predictions for the period of 2018 to 2023 (forecast period). The COVID-19 pandemic and the impact on the industry are analyzed at a granular level.
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Market Scope
The global earphone and headphone market is expected to grow at 9% CAGR during the forecast period. Development of Bluetooth enabled headphones is expected to disrupt the market. In addition, the rise of music lovers, increased spending range of customers, and affinity towards new music can fare well for the market. Rising ownership rate of tablets, smartphones, and mp3 players can drive the demand for earphones and headphones. The COVID-19 pandemic has driven the impulsive buying behavior of customers and driven the sales of audio devices. Online sales and festival gifts have fared well for the market.
However, the high costs of these audio devices can restrain market growth.
Key Players
Some of the prominent players in the global Earphone And Headphone Market are Apple Inc. (US), Sony Corporation (Japan), Sennheiser Electronic GmbH & Co. KG (Germany), Bose Corporation (US), Skullcandy Inc. (US), AIAIAI ApS (Denmark), AKG Acoustics GmbH (Austria), Audio-Technica Corporation (Japan), beyerdynamic GmbH & Co. KG (Germany), Creative Technology Ltd (Singapore), Denon Electronics (USA), LLC (US), Grado Labs Inc. (US), House of Marley, LLC (US), and Jays AB (Sweden) among others.
Global Earphone and Headphone Market – Segmentations
Based on type, the market has been classified into wired earphones and headphones and wireless earphones and headphones. Wireless headphones and earphones work without a cable. Wireless headphones and earphones operate by transmitting audio signals through infrared (IR) or radio signals depending on the connected device. Currently, the wireless headphones and earphones segment is expected to command a large market share owing to being widely used by consumers in call centers, fitness centers, and others. Wireless headphones and earphones often use Bluetooth transmission standard to transmit audio connect to various devices simultaneously.
Wired headphones and earphones are more beneficial than wireless headphones and earphones in terms of audio/sound quality, pricing, and battery life. Most of the wired headphones and earphones do not require a battery backup which helps in minimizing the noise created due to the battery power source. Wired headphones and earphones have a 3.5mm audio jack and compatible with all the latest smartphones and audio devices. Wired headphones and earphones are widely used in corporate, aerospace & defense, and media & entertainment sectors.
Global Earphone and Headphone Market – Regional Analysis
North America can dominate the earphone and headphone market till 2023. It was valued at USD 4380.8 million in 2017. This can be attributed to presence of various brands and celebrities launching new headphones in conjunction with technology-related companies. Influence of social media and endorsements by musical artists can fare well for the regional market demand.
However, Asia Pacific is expected to be the highest growing region at a CAGR of 10.89% during the forecast period. Some market players such as Sony Corporation, Apple Inc., Audio-Technica, Sennheiser, and beyerdynamic are expected to dominate the earphone and headphone market during forecast period. In January 2019, Audio-Technica Corporation launched its sound reality ATH-SR50BT and ATH-SR30BT wireless over-ear headphones which provide high-resolution audio playback.
Over the last decade, the region has become a global manufacturing hub, with many multinational companies setting up high-volume production facilities in the region. Countries such as Indonesia, Singapore, and Australia have great scope in the earphone and headphone market as these countries are witnessing significant developments in wireless technologies. China and India are the fastest growing economies in Asia Pacific, and the telecom industry is expected to grow substantially during the forecast period.
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