Bluetooth Headphones Market worth over $120bn by 2026
Published Date: February 26, 2020 Authors: Preeti Wadhwani, Saloni Gankar
Bluetooth Headphones Market size is set to exceed USD 120 billion by 2026, according to a new research report by Global Market Insights, Inc.
The market growth is supported by increasing popularity of wireless connectivity in the industrial worksites. Bluetooth headphones in the construction sector are making an enormous difference by offering construction crew a secure & interference-free network for communication. The configuration options are available for large & small construction crews, allowing crew members to communicate efficiently.
Increase in purchasing power of consumers augmenting the bluetooth headphones market size
Developing countries across the globe are witnessing a rise in disposable income, increasing the purchasing capabilities of consumers. This has led to an increase in the sales of mobile devices, which is expected to accelerate the adoption of bluetooth headphones. The adoption of high-quality earphones and headphones has compelled industry players to modernize the technology, resulting in substantial market demand from the emerging economies in the last five years.
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Proliferation of smartphones spurring the uptake of bluetooth headphones
The headphone product segment accounted for around 25% of the Bluetooth headphones market share and will exhibit growth of over 8% till 2026. Growth in the smartphone industry is driving the segment growth.
Moreover, the expansion of manufacturing abilities and increasing customer consumption in the emerging economies have transformed the earphones & headphones sector. New and innovative designs of earphones/headphones spurred by increasing R&D capabilities of Bluetooth headphone providers will create new avenues for the market growth.
Browse key industry insights spread across 240 pages with 313 market data tables and 42 figures & charts from the report, “Bluetooth Headphones Market Size By Product (Earbuds, Headphones), By Distribution Channel (Online, Offline), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020– 2026” in detail along with the table of contents:
Personalization of product recommendations driving the adoption of online sales channel
The online sales channel held majority of the global market share in 2019 due to growing proliferation of e-commerce sector and real time personalization offered by online retail websites. Additionally, advanced AI technologies embedded within e-commerce apps along with In-app augmented reality is influencing the industry growth.
Surging uptake of Over-The-Top (OTT) media services augmenting Europe market size
The Europe bluetooth headphones market held over 15% revenue share in 2019 and is anticipated to observe 10% growth during the forecast period. High prominence in the music & entertainment sector and rise of Over-The-Top (OTT) media services, such as YouTube, Netflix, and Spotify, have led customers to invest in high-quality Bluetooth headphones, boosting the market revenue.
Governments in the European region are focusing on noise & hearing loss prevention due to rise in number of hearing disability cases. Stringent government regulations on raw materials and noise levels in the region are propelling the demand for bluetooth earbuds and headphones. Moreover, the integration of smart features such as voice assist, gesture recognition, smart control, active noise cancellation, and active noise isolation, with these wireless Bluetooth headphones will fuel the market demand.
Changing consumer preferences pressurizing vendors to develop sophisticated products
The key players manufacturing bluetooth headphones are majorly focusing on advancements in the mobile technology coupled with design sophistication in earphones & headphones. Manufacturers across the globe are increasing the prices due to augmented demand for these products, increasing their market share and creating new avenues for profitability.
There is an inclination toward in-line microphones, which has become a standard feature in the wireless headphones. Sports & fitness headphones are specifically growing in popularity in the otherwise saturated western European regions.
Prominent bluetooth headphones market players include TZUMI Electronics LLC., Sony Corporation, Skullcandy, Inc., Sentry Industries, Inc., Sennheiser Electronic, QCY, Plantronics, Inc., MPOW, Motorola Solutions, Inc., Microsoft Corporation, LG Electronics, Inc., Koninklijke Philips N.V., JLab Audio, Jaybird, LLC, Jabra Corporation, Harman International Industries, Inc., Bowers & Wilkins Group Ltd., Bose Corporation, Beyerdynamic GmbH & Co. KG, Beats Electronics LLC., Bang and Olufsen A/S, Audio-Technica Corporation, Apple, Inc., Anker Technology (UK) Ltd. and Aftershoktz LLC.