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Earphones & Headphones Market Size - By Product (Earphones, Headphones), By Technology (Wired, Wireless), By Application (Personal, Corporate), By Distribution Channel (Online, Offline), COVID-19 Impact Analysis & Forecast, 2022 - 2028

  • Report ID: GMI482
  • Published Date: Jan 2022
  • Report Format: PDF

Earphones & Headphones Market Size

Earphones & Headphones Market size exceeded USD 85 billion in 2021 and is anticipated to grow at a CAGR of over 11% from 2022 to 2028. The global industry shipments are expected to reach 1 billion units by 2028.
 

Earphones & Headphones Market Overview

The rise in technological advancements and the easy acceptance and adoption of smart devices are the major factors driving the market growth. High sales of consumer electronic devices globally due to their deployment in residential and commercial infrastructures creates several opportunities for the market. The wireless technology has become affordable and is replacing the need for physical cabling. Manufacturers have enhanced the wireless technology and are now providing wireless headsets with high audio quality, fostering the overall market.
 

The industry will witness growth owing to the introduction of new product ranges. Players such as Apple Inc., Bose Corporation, and Audio Technica Corporation are investing heavily in R&D to expand their product portfolios and are focusing on launching new products to target a large set of consumers, thereby fueling their market sales.
 

The coronavirus pandemic has moderately impacted the earphones & headphones market expansion. The pandemic has enforced government organizations to implement strict lockdown measures and travel restrictions, disrupting the logistics, supply chain & production capabilities, and impacting the overall sales. In addition, the closure of retail stores has also impacted the revenue generation of the companies.
 

However, the increasing utilization of Over The Top (OTT) platforms, such as Amazon Prime, Netflix, Hulu, and Disney Hotstar, for content consumption will support the market progression. The imposed travel restrictions have shifted consumer interest toward online streaming platforms to watch movies, web series, and talk shows. The growing OTT sector will further support the utilization of earphones & headphones among individuals.
 

Earphones & Headphones Market Analysis

The U.S. earphones & headphones market is projected to showcase 12% growth rate through 2028 owing to the advancements in the product range. Players in the domain are constantly emphasizing on improving their previous device offerings to secure a differentiated market positioning and maintain a strong engagement with the customers. This factor has encouraged companies to add new features to their product lines for attracting more consumers.
 

Earphones & Headphones Market Size

The India earphones & headphones market is estimated to attain a CAGR of 15% till 2028 due to the rising demand for high-quality product ranges. With the entry of new companies, such as Realme Chongqing Mobile Telecommunications Corp., Ltd. & Xiaomi Corporation, the affordability and accessibility of advanced audio listening devices have increased in the country. Moreover, the rising utilization of Over The Top (OTT) platforms has further supported the industry growth. To maintain the growing demand, companies are introducing new product ranges.
 

Customers are increasingly emphasizing on purchasing advanced products to improve their listening experience. The integration of Bluetooth, IR, and NFC technology has offered a seamless connectivity experience with smartphones, computers & tablets. Furthermore, the introduction of echo reduction and noise cancellation has developed the comfort and convenience of the users. The inclusion of such technologies has improved the connectivity range and flexibility of the devices, thus supporting product acceptance for personal use.
 

Several players are launching new products on e-commerce websites and online platforms and investing on providing a smooth online experience to their customers to expand their market reach. They are running marketing campaigns with limited-time price offers to attract several consumers. For instance, in April 2021, Nokia Corporation introduced true wireless and Bluetooth neckband earphones on Flipkart in India. The headset is installed with a Qualcomm QCC3034 Bluetooth Audio chipset and is integrated with noise suppression technology. Through this launch, the company targeted millennial professionals and college students in the region.
 

Europe Earphones & Headphones Market

Europe earphones & headphones market is poised to expand at more than 9% CAGR during 2022 to 2028 on account of the growing usage of online streaming platforms for watching movies, talk shows, stand-up comedies, and TV shows. In addition, film production houses introduced new movies, such as RedNotice & Black Widow, on OTT services including Netflix, Disney Hotstar, and Prime Video to target a large customer base during the coronavirus pandemic. This factor has increased the subscriber number on streaming platforms. For instance, from Q1 of 2020 to 2021, Netflix’s paid customers increased from around 58.4 million to 68.5 million in the European and MEA regions. The increasing popularity among millennials and the requirement for high-quality earphones & headphones for an enhanced audio experience has supported the industry expansion during the forecast timeline.
 

Earphones & Headphones Market Share

Major companies operating in the market are

  • Skullcandy, Inc.
  • Sony Corporation
  • Sennheiser Electronic
  • Plantronics, Inc.
  • LG Electronics Inc.
  • Harman International Industries, Inc.
  • Motorola Solutions, Inc.
  • Bose Corporation
  • Bang and Olufsen A/S
  • Bowers & Wilkins Group Ltd.
  • Koninklijke Philips N.V
  • Apple, Inc.
  • Audio-Technica Corporation
  • 3M
  • Grado Labs
  • Alclair Audio
  • JVC
  • Koss Corporation
  • Panasonic Corporation
  • Logitech International S.A.
  • Monster, Inc.
  • Pioneer Corporation
  • Scosche Industries, Inc.

Market leaders are focusing on strengthening their brand recognition by expanding their product offerings and innovative solutions to cater to the growing demand for high-quality & affordable earphones.
 

The earphones & headphones research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in units from 2018 to 2028 for the following segments:

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Market, By Product

  • Earphones
  • Headphones

Market, By Technology

  • Wired
  • Wireless

Market, By Application

  • Personal
  • Corporate

Market, By Distribution Channel

  • Online
  • Offline

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • GCC
    • South Africa

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Market size of earphones & headphones surpassed USD 85 billion in 2021 and is expected to expand at a CAGR of 11% between 2022 and 2028 owing to increasing technological advancements and the easy adoption and acceptance of smart devices

U.S. market size is anticipated to grow at a rate of 12% by 2028 driven by the rising advancements in product range

India market is estimated to exhibit a CAGR of 15% through 2028 propelled by the escalating demand for high-quality product ranges

Leading players across the market comprise Bose Corporation, Sony Corporation, Olufsen A/S, Apple, Inc., Logitech International S.A., LG Electronics Inc., Monster, Motorola Solutions, Inc., Koninklijke Philips N.V, Grado Labs, Skullcandy, Inc., Scosche Industries, Inc., and others.

Earphones & Headphones Market Scope

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 26
  • Tables & Figures: 579
  • Countries covered: 15
  • Pages: 300
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