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
Published Date: May 2017 | Report ID: GMI482 | Authors: Ankita Bhutani, Pallavi Bhardwaj Report Format: PDF
Earphones And Headphones Market size was around USD 20 billion, with global shipments of over 350 million units in 2016.
China earphones market size, by application, 2016 & 2024 (USD Million)
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Growing penetration of smartphones & tablets is set to drive the earphones and headphones market growth over the forecast timeline. The penetration of smart devices has contributed significantly to multimedia consumption on devices such as mobiles, music players, and tablets. Rapid technological advancements and growing adoption of innovative technologies by consumers from several sectors such as construction, public safety, and aviation is positively impacting the market growth.
The earphones and headphones market has experienced several technological advancements such as improvisation in sound quality, high performance and attractive designs. Growing demand for smartphones, MP3 players, iPods as well as online music sites are contributing to the industry growth. High quality earphones and headphones provide an enhanced experience coupled with high quality sound for music enthusiasts.
Earphones and Headphones Market, By Technology
Wired technology has been dominating the earphones and headphones market for a prolonged period, but has been losing its dominance owing to the increasing adoption of wireless technology. Nevertheless, the wired technology is widespread in the emerging economies where consumers are price-sensitive.
Rising demand for wireless technology integrated with the features such as noise cancellation and Bluetooth connectivity is expected to contribute to the overall revenue. Due to the rising demand, manufacturers are developing wireless alternatives with features such as rechargeable batteries and making them compatible with apps. The wireless earphones and headphones market is projected to witness over 5% CAGR from 2017 to 2024 due to the ease of convenience and comfort offered by the technology. Moreover, the high demand for wireless headphones across industries including public safety, aviation and industrial will drive growth in the future.
Earphones and Headphones Market, By Application
Growing demand from the sports industry is a major factor which is positively impacting the growth of the earphones and headphones market owing to the innovative features which can help costumers measure the distance covered, track heart rate, and analyze the calories burned through a workout. Regardless of the availability of heart rate monitors, the earphones and headphones industry is witnessing a growing demand for biometric sports tracking.
Industrial applications will witness huge demand, driving the overall industry growth. Companies are offering products for manufacturing sector that are designed for the roughest surroundings and are providing communications and hearing protection. Headphones are the most popular hearing protection products for industrial workers, which will be favorable for the tactical headsets market. They offer hearing protection for regulated workplaces as well as core capabilities such as listening to music.
Earphones and Headphones Market, By Region
In 2016, U.S. earphones and headphones market share was over 25% of the revenue generated. The consumer application industry has neared saturation; however, the availability of sports earphones and headphones is significantly aiding the growth. The region has witnessed high penetration due to technological advancements, and has been profoundly influenced by the growing adoption rate. Moreover, the increasing demand for these products as fashion accessories is contributing towards the regional demand. High adoption rate of smartphones and the availability of the products with innovative features, will fuel the market growth over the future.
APAC market is mainly driven by the presence of high population and growing disposable income in economies such as China, India Japan and South Korea. The region is expected to dominate over the forecast timespan owing to the expansion of mobile device industries in densely populated countries. In addition, the growing demand for headsets from offshoring centers in India and Philippines is forecast to augment the demand.
Competitive Market Share
Key participants in the earphones and headphones market include Bose Corporation, Apple Inc., Grado Labs, Panasonic Corporation, JVC, Sennheiser Electronic, Pioneer Corporation, Sony Corporation and Skullcandy. Owing to the existence of various industry participants, companies are focusing on consolidation and expanding their services to help gain industry share and sustain in intensifying competition. For instance, in May 2014, Apple, Inc. announced that it acquired Beats Electronics, a U.S. based company which produces audio products. With the acquisition, Apple plans to create and offer the most advanced music products and services globally.
The availability of counterfeit products is negatively impacting the market growth and contributing to a decline in genuine product sales that affects several companies’ operating results. Companies are incurring considerable expenses to protect their intellectual products rights, by combating unauthorized distribution of copyrighted products.
Earphones and Headphones Industry Background
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With the industry’s intense competitive atmosphere, advancements in technology by major vendors play a vital role in influencing the earphones and headphones market growth. The vendors are mainly competing based on product differentiation, pricing, and portfolio strength. The industry value chain is expected to further strengthen with increasing demand and with rise in product launch delays. The business is majorly dominated by the traditional players such as Sony Corporation, Bose Corporation, JVC, Apple, Inc., etc.
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