Earphones and Headphones Market to surpass $25bn by 2024
Published Date: May 30, 2017 Author: Global Market Insights, Inc.
Earphones and Headphones Market size is set to exceed USD 25 billion by 2024; global shipments will grow at nearly 4% CAGR estimation, according to a new research report by Global Market Insights, Inc.
Advancements in wireless technologies such as Wi-Fi, Bluetooth, and Infrared (IR) are expected to drive the overall earphones and headphones market growth. Wireless technology development can be majorly credited to the exclusion of headphone jacks from smartphones; the technology has become more affordable and is replacing the need for physical cabling. Manufacturers are now providing wireless headsets with high audio quality, which is expected to drive the overall earphones and headphones market over the future.
The industry is anticipated to witness growth over the forecast timespan owing to the rising demand of several applications including industrial, aviation and public safety. Surge in the sales of smart mobile devices has fueled the demand for Bluetooth enabled earphones and headphones, which is anticipated to boost the industry demand across the globe. Developments in the design & engineering to offer compact and light products along with declining earphone and headphone market price trend is propelling the industry growth.
A key challenge in the earphones and headphones market is the availability of counterfeit products. Since a few years, several product replicas have given rise to competition for core giants and creating a dent in their market share. The presence of low-cost knockoffs also poses a threat for the earphones and headphones market growth.
Browse key industry insights spread across 300 pages with 296 market data tables & 31 figures & charts from the report, “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” in detail along with the table of contents:
Public safety applications in the earphones and headphones market have witnessed growing adoption across ambulances, aircraft rescues, fire boats and firefighting departments will, thereby driving the industry growth. The systems used in the public safety applications are completely weatherproofed and can be used on some of the most progressive rescues and fire boats.
In ambulances, the system allows hands-free communications for drivers and medics. It permits the medics to efficiently communicate over the dispatch radio by using footswitches while supporting the patients. The wired and wireless systems enable the crew to ensure continuous communications with mobile dispatchers.
Asia Pacific earphones and headphones market is anticipated to witness substantial growth owing to the growing usage of mobile devices and the expanding mobile device industry in densely populated countries such as China and India. The growing demand for the products in the region has been witnessed from the business outsourced processing industry mainly in Philippines and India, which are the largest offshoring centers globally. The growing consumer disposable incomes in the region are also anticipated to act as an impetus in generating demand.
Some of the earphones and headphones market participants are Apple, Inc., Bose Corporation, David Clark Inc., Harman International, Inc., JVC, Koninklijke Philips N.V., Sennheiser Electronic, Skullcandy, Inc., Sony Corporation, Grado Labs, Audio Technica Corporation, etc.
The earphones and headphones market is still growing steadily, and is characterized by fierce competition. The industry demands modernization, with players placing additional importance on unceasing developments in enhanced noise-cancelling functionalities, sound quality, wireless technologies, with major focus on feature oriented systems which are helping in rapid growth.
Earphones and headphones market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in units and revenue in USD from 2012 to 2024, for the following segments:
Earphones And Headphones Market, By Technology
Earphones And Headphones Market, By Application
- Call Center
- Public Safety
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa