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Earphones & Headphones Market Size
- 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.
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Earphones & Headphones Market Size in 2021: | 85 Billion (USD) |
| Forecast Period: | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR: | 11% |
| 2028 Value Projection: | 175 Billion (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 300 |
| Tables, Charts & Figures: | 579 |
| Segments covered: | Product, Technology, Application , Distribution Channel and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Earphones & Headphones Market Scope
