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Earphones & Headphones Market - By Product Type, By Connectivity, By Price Range, By End-Use, By Distribution Channel & Forecast, 2024 - 2032
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Earphones & Headphones Market
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Premium Report Details
Base Year: 2023
Companies covered: 15
Tables & Figures: 395
Countries covered: 23
Pages: 155
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Earphones & Headphones Market Size
The global earphones & headphones market size was valued at USD 34.7 billion in 2023 and is estimated to register a CAGR of around 4.1% between 2024 and 2032. The increasing adoption of wireless technology is likely to drive the growth of market. Wireless earphones and headphones are preferred by consumers due to their ease of use and compatibility with smart devices.
Smart devices such as smartphones, tablets, and other portable devices are increasingly being adopted which is boosting the growth of the market as these devices are prominent devices for listening audio content. According CTA U.S. Consumer Technology Report, Smartphones has been the leader in consumer tech hardware products reaching to revenue of USD 74.5 billion in 2021 whereas tablet PCs was at 5th position with market revenue of USD 16.2 billion in 2021. In addition, the improvement of Bluetooth technology together with the introduction of new features such as noise cancellation, water resistance, and long-life batteries, has made earphones and headphones more attractive to more people.
Rising adoption of music streaming services and podcasts which has led to a rise in global consumption of audio content. The increase in the number of people working from home as well as taking classes over the internet has also increased the need for high-quality sound devices for more effective audio for meetings and classes.
In addition, the fitness and sports industries have also increased the need for specialized sweat-resistant earphones and headphones that are properly fitting and designed for active lifestyles. Other factors such as the increased purchasing power in developing countries has also contributed to market growth as consumers are willing to spend on more expensive audio devices. All these, along with ever-increasing competition among the manufacturers of music products, are likely to boost the growth of the market during the forecast period.
Earphones & Headphones Market Trends
Earphones & Headphones Market Analysis
Based on the product type, the market is segmented into earphones and headphones. In 2023, the earphones segment accounted for a market share of around 61.8% and is expected to grow at a CAGR of 4.7% during the forecast period.
Based on end-use, the earphones & headphones market is segmented into personal and corporate. In 2023, the personal segment held a market share of around 84.7% and is expected to grow at a CAGR of 4.3% during forecast period.
The U.S. dominated the North America earphones & headphones market with a revenue of USD 6.8 billion in 2023 and is expected to grow at a CAGR of 4% during the forecast period.
Earphones & Headphones Market Share
Earphones & Headphones Market Share
The earphones & headphones industry is fragmented due to several local regional level manufacturers offering low-cost products. Top companies have competitive edges because of their strong brand image and with an extensive distribution network and continuous product development. Most of the market competition results from pricing, product and service differentiation, and the advancement of technology. For instance, Apple’s AirPods series continues to add premium features that serve as noise cancelling and deep integration into their ecosystem, Samsung is focused with dominating the lower end of the market with a variety of products.
To achieve competitive advantage manufacturers have been adopting various strategies such as collaboration, partnerships, joint ventures, mergers, and acquisitions. For instance, companies such as GN Store Nord A/S (Jabra), Sony Corporation, and Jaybird are partnering with fitness enthusiasts, health club owners, athletes for developing smarter ergonomics and other fitness-centered features.
Earphones & Headphones Market Companies
Major players operating in the earphone & headphones industry are:
Earphone & Headphones Industry News
The earphones & headphones market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion)(Thousand Units) from 2021 to 2032, for the following segments:
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Market, By Product Type
Market, By Connectivity
Market, By Price Range
Market, By End-Use
Market, By Distribution Channel
The above information is provided for the following regions and countries: