Earphones and Headphones Market Size is set to surpass USD 175 billion by 2028, according to a new research report by Global Market Insights Inc.
The growing focus on launching new marketing practices to attract customers will support the earphones and headphones market demand in the coming years. The market players, such as Audio-Technica U.S, Inc., Bang & Olufsen Group, and Plantronics, Inc., are focusing on introducing new campaigns to attract a large set of customer base. In addition, designers are planning to collect valuable input & feedback regarding the product's design from the consumers for implementing necessary changes.
The COVID-19 outbreak moderately affected the growth rate of the industry participants in the earphones & headphones sectors. The closure of borders and implementation of lockdown restrictions have hampered the manufacturing capacity of the product ranges. This factor has negatively impacted the supply-demand ratio, thus declining the profitability of the companies.
However, growth in the online education sector for learning science, music & art during the lockdown period will support the industry demand. With the closure of offline schools and tuitions classes, the reliance on digital platforms, such as Microsoft Teams, Skype, and Google Meet, has increased for day-to-day communication and learning. It will support the utilization of earphones & headphones for an effective audio experience.
Inclusion of new technology in the headphone product range will fuel the market growth
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The rising integration of new solutions in headphones to boost the market expansion during the forecast timeframe. Companies are investing in R&D activities to install smart technologies, such as echo reduction, Bluetooth connectivity & touchless gestures, for offering an improved sound experience. This factor has resulted in the introduction of a new product range in the market.
Browse key industry insights spread across 300 pages with 539 market data tables and 40 figures & charts from the report, “Earphones and Headphones Market Size, By Product (Earphones, Headphones), By Technology (Wired, Wireless), By Application (Personal, Corporate), By Distribution Channel (Online, Offline), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028”, in detail along with the table of contents:
Launch of premium wired earphones & headphones will drive the market value
Leaders in the industry, such as Blaupunkt and S'NEXT Co., Ltd., are developing a range of products in the wired category to offer a wide set of options. To improve the customer audio listening experience, they are emphasizing on developing the sound quality, sturdiness & noise cancellation features. Increasing investments in innovation are accelerating the introduction of new technologies in the market. In May 2021, Sennheiser Group launched the IE 900 audiophile earphones worth approximately USD 1,758 worldwide. The product is equipped with an X3R transducer and a unique triple-chamber absorber system for the reproduction of high-end sound. The integration of new technology supports the company in reducing the masking effect & resonance, thus providing a premium audio experience.
Opening of new call centers to support the earphones and headphones market revenue
The industry will witness growth owing to the launch of new support centers in different regions across the globe. Companies in various sectors, such as IT, automobile, and e-commerce, are emphasizing on improving their customer response, time in terms of complaints. To address this challenge, they are introducing new establishments with an advanced infrastructure.
The entry of new companies in APAC will foster the earphones and headphones market growth
In Asia Pacific, new companies are entering different countries, such as India, China, and Japan, to cater to the growing demand for wireless and wired earphones & headphones. In January 2020, Urbanista GL expanded in the Indian market with the introduction of a true wireless product range. Through this, the company is focusing on catering to the audio listening device requirements of the millennials. With the increasing number of new entrants in the market, competition in the region will increase, propelling innovations and new product launches. Additionally, it will improve the affordability & accessibility of the product range across the region, thus impelling the industry value.
Companies are focusing on expanding their product portfolios in multiple markets
Prominent players operating in the earphones and headphones market include Skullcandy, Inc., Panasonic Corporation, Sony Corporation, Sennheiser Electronic, Plantronics, Inc., Grado Labs, Harman International Industries, Inc., Motorola Solutions, Inc., Bose Corporation, 3M, Bang and Olufsen A/S, Koninklijke Philips N.V, Apple, Inc., Audio-Technica Corporation, Alclair Audio, JVC, Koss Corporation, Logitech International S.A., Monster, Inc., LG Electronics Inc., Pioneer Corporation, Scosche Industries, Inc., and Bowers & Wilkins Group Ltd. Leaders are focusing on introducing new earphone & headphone range to cater to different application needs.