Earphones & Headphones Market Analysis

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.

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 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.