The adoption of smartphones in Latin America has reached to the level witnessed in developed countries. Latin America has been witnessing the highest growth rate in revenue from digital music subscriptions and streaming services over the last six years. The revenue of the music industry in Latin America increased by 17.70% in 2017, and the income from digital content increased by over 30% for the same period.

The surge in digital revenues was majorly due to the rise in streaming, which grew 49% in the previous year. Online streaming is a major driver for the rise of the music industry as well as for the headphones market. Spotify and Apple are the major companies that are driving the online music streaming segment in Latin America. Further, the increase in the urban population and the growth of disposable income are expected to increase the spending on mobile accessories, including headphones in Latin America. The rise in demand for music and the growth of music enthusiasts will further drive the headphones market in Latin America.

Maximizing Audio Quality and Enhanced Features

Product miniaturization is likely to drive the revenue of major market vendors in the coming years due to changing consumer preferences and technological advancements. The same holds true for headphones. Headphones have evolved from circum-aural to supra-aural, and later on earphones and true wireless in-ear headphones, which send the sound directly into the user’s ear canal. Hyper-compression technique is used to boost the dynamics of recordings. The current upsurge in hyper-compressed recordings offers significant evidence of the role of the noisy environment as catalysts to the evolution of digital audio production. This drives to analyze mobile listening situations as complex interactions of audio technology, human perception and sensations, and contextual factors.

The removal of the headphone jack has paved the way for true wireless headphones. True wireless headphones are focusing on offering several real-time solutions rather than streaming music and answering calls. Sound transparency, ambient noise control, speech elevation, and augmented hearing functionality are some of the solutions offered by true headphones.

Increased Collaborations

The headphones market is witnessing an increased number of collaborations between manufacturers of headphones and industry partners. The demand for music accessories, especially headphones, has given rise to several alliances over the years. Many headphone and mobile manufacturers have entered into agreements to provide advanced headphones.Such collaborations allow headphones manufacturers to launch advanced variants of their existing models and minimize R&D costs.The headphones and earphones market has witnessed a few major collaborations in the last couple of years, which include:

  • In 2014, Apple acquired Beats Electronics for $3.20 billion. This acquisition was aimed to manufacture listening products that are compatible with the Apple line of products such as iPhone, iPod, iPad, and MacBook.
  • In 2014, OnePlus and JBL formed an alliance for special edition earphones, which included a set of JBL E1+ earphones and a special edition version of the OnePlus One.
  • In 2016, Roland Corp., an electronic musical instrument and recording gear manufacturer, acquired 70% ownership stake in boutique headphone manufacturer, V-Moda.
Read:Earphones and Headphones Market in Latin America - Industry Outlook and Forecast 2019-2024

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