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Earphones and Headphones Market - Global Outlook and Forecast 2019-2024

3rd Edition

SKU : ARZ190208
  • Published on : February 2019

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This market research report on the global earphones and headphones market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by technology (wired, wireless, and true wireless), by type (in-ear, on-ear, and over-ear), by feature (smart and non-smart), by end-use (entertainment, fitness & sports, and gaming), and by geography (APAC, Europe, North America, Latin America, and MEA).

Earphones and Headphones Market - Overview

With the rapid advancements in technology, manufacturing, transmission, and portable consumer electronics goods, the global earphones and headphones market witnessed significant innovations that boosted the adoption of these devices. The improvements and developments in the manufacturing and audio technology are leading to a vast transformation in the appearance, sound output, portability, and connectivity of these devices in the global market. The increasing affordability of wireless connectivity and the introduction of new headphone variants with health sensors and other value-added features will drive the evolution of the market. The top developers are focusing on continuously testing and adapting advanced technology to offer external noises cancelling headphones features; this will boost the revenues in the global market. The rising developments in the field of IoT and AI is strengthening the infrastructure for wearables in the market. A rising number of tech startups are working to develop the integrations of wearables and voice as the prominent UI which is enabling the transition of earphones and earbuds to become the central node in the future systems in the global market. Significant technological advancements in wireless products such as SKAA, Bluetooth, infrared, and Wi-Fi will propel the demand for demand for high-fidelity devices in the market. The wider acceptance of smart hearables, such as true wireless headphones with augmented hearing and language translation capabilities will create lucrative opportunities for leading vendors in the global market. The increasing integration of IoT, biometric monitoring, augmented hearing, and ambient noise control will revolutionize the global earphones and headphones market.

The increase in the number of mobile devices, access to music and video content on-the-go, and the fast-evolving music industry are some of the major factors attributing to the growth of the global market. The exponential growth of digital media, especially entertainment services such as video, audio, and multimedia will drive the demand for innovative devices in the market. The global earphones and headphones market is projected to reach values of more than $36 billion by 2024, growing at CAGR of around 13% during 2018-2024. The market research report also offers market share analysis in terms of unit volumes during the forecast period.

Earphones and Headphones Market – Dynamics

The increasing number of innovations is leading to the transition of wireless devices to hearables in the global earphones and headphones market. The increasing focus on making these products more comfortable and convenient, with the ability to eliminate external noises and deliver a more immersive listening experience will enable vendors to attract new consumers in the global market. The integration of smart tech that offers the ability to initiate virtual assistants/smart speakers and control audio and volume  buttons due to improvements in manufacturing and audio technology will fuel the demand for new product offerings in the market. Wearables connected to the user’s smartphones and applications steered the market toward smart accessories, which could double the performance and perform functions of the device that they supported. The host of the development of smart headphones, watches, smart eyewear, and fitness trackers will drive innovations in the field of hearing aids and augment the growth of the global earphones and headphones market.

Earphones and Headphones Market – Segmentation

This market research report includes a detailed segmentation of the market by technology, type, features, end-use, and geography.

Earphones and Headphones Market 2024

Earphones and Headphones Market – By Technology

The integration of hearables and 3D sound delivery with real-time language translation to wireless devices will transform the global earphones and headphones market

The global earphones and headphones market by technology is classified into wired, wireless, and true wireless. Wireless segment dominated the total market share in 2018, growing at a CAGR of approximately 16% during the forecast period. The increasing requirement of high-quality sound experience and integration with hearing aids and commercial headsets is fueling the growth of this segment in the global market. The development of innovative technology such as gesture recognition and control, active head tracking, biometric monitoring, 3D surround sound delivery, and onboard storage in over-ear wireless headphones will drive investments in the market over the next few years. These products are designed to offer freedom of movement, good sound quality, and increased durability to consumers in the global market. The increasing use of these devices in fitness and sports activities will contribute to the growing revenues in the global earphones and headphones market.

The growing demand for wired products across emerging countries in APAC will fuel the growth of the global market. Wireless earbuds offer higher control over surrounding sounds and Apple, Motorola, HTC, Google, and LeEco are leading players in this segment in the global earphones and headphones market.

Earphones and Headphones Market – By Type

The compactness and convenience of in-ear products is driving the growth of the global earphones and headphones market

The product type segment in the global earphones and headphones market is divided into in-ear, on-ear, and over-ear. In-ear products are the fastest growing segment in the global market, at a CAGR of more than 13% during the forecast period. The relatively low cost of ownership, compactness, and convenience of the in-ear products is fueling the growth of this segment in the global market. The increasing demand for feature-rich truly wireless earbuds is leading to the development of new products in the global market. This model is prevalent among users who actively stream music during sports and fitness activities in the market. The launch of in-ear devices with innovative q-tips by design is most suitable while engaged in several day-to-day activities and will help vendors gain a larger market share. The development of new products that effectively house the battery and multiple drivers to increase the playback time as well as deliver high-quality sound to the user will boost the demand in the global earphones and headphones market.

On-ear products are not only foldable but also comes with additional features such as noise cancellation, active noise cancellation, and control ambient sound in the market. The top companies are focusing on improving the battery life to increase the playback time of their wireless models and launch new lightweight over-head models to gain a larger global earphones and headphones market.

Earphones and Headphones Market – By Features

The launch of smart devices with modern, advanced features gains traction in the global earphones and headphones market

The global earphones and headphones market by features is segmented into smart and non-smart. Smart devices occupied the largest market share in 2018, growing at a CAGR of approximately 17% during the forecast period. The launch of new smart products with latest technologies including water resistance, noise cancellation, HD and Blu-ray sound format, 3D surround sound, storage capacity, and several other innovations are fueling the growth of this segment in the global market. The increasing focus on technological innovations and the integration of real-time features will enable vendors to attract new consumers and boost their profitability in the market. The increasing use of these products by audiophiles, athletes, music composers, and health-conscious individuals to monitor body vitals such as heart rate and calories burnt during a workout session is driving the development of the global earphones and headphones market.

Non-smart products offer basic functions such as connecting via cable or Bluetooth, answering calls, and streaming music. The development of advanced wireless devices will reduce the demand for these products in the global earphones and headphones market.

Earphones and Headphones Market – By End-Use

Sports and fitness sector is emerging as the fastest growing end-use category in the global earphones and headphones market

The end-use segment in the global earphones and headphones market is categorized into entertainment, fitness & sports, and gaming. Fitness and sports is the fastest growing end-use segment in the global market, at a CAGR of more than 15% during the forecast period. The fitness and sports segment offer high earning potential, and leading players are upgrading their products to cater to the growing demand in the global market. The popularity of wearable devices such as smartwatches and pendants, mobile applications, and rings, which constantly monitor and track the user’s vital biometrics and collate the data now allow millions of consumers to maintain their fitness records is driving the demand for associated accessories in the market. The introduction of new sports headphones that are resistant to water and sweat, provide extra comfort and fit appropriately during workouts, and stream the music or digital books to the user will augment the development of the global earphones and headphones market.

The use of products in the entertainment sector offer high-quality sound and a highly personalized listening experience to the consumers in the market. The launch of gaming headphones that are sturdy yet comfortable build, noise canceling functions for both earpiece and the microphone, and improved range and latency will drive revenues in the global earphones and headphones market.

Earphones and Headphones Market – By Geography

The US and Canada contributed the highest revenues across the North American region in the global earphones and headphones market

The global earphones and headphones market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. North America dominated the market share in 2018, growing at a CAGR of around 13% during the forecast period. The growing number of smartphone users and high-speed internet connectivity, many consumers prefer streaming their favorite music, videos, and podcasts at any place and anytime is driving the growth of the North American market. The trend of using these devices as fashion accessories is driving the popularity and acceptance of earbuds, especially among audiophiles in the US earphones and headphones market. The vendors are introducing products with features such as convenient charging, portable designs, water resistance, advanced sound control, sensors, gesture control, and better battery life to sustain their North American share in the global earphones and headphones market.

The increasing number of adoptions of paid digital audio subscriptions and the growth of the fitness and sports industry is fueling the growth of the European market. China, South Korea, and India are the largest revenue generators in the APAC region in the global earphones and headphones market.

Key countries profiled in the report are:

  • US
  • Canada
  • UK
  • Germany
  • France
  • Italy
  • Nordic
  • Spain
  • China
  • South Korea
  • Australia
  • Japan
  • India
  • Brazil
  • Mexico
  • Chile
  • UAE
  • South Africa

Key Vendor Analysis

The global earphones and headphones market is witnessing the entrance of new players offering varied products. The introduction of true wireless headphones and the unprecedented adoption among the consumers is intensifying the competition in the market. The players are launching new products equipped with smart and intelligent features and abilities to sustain the competition in the market. Some of the top companies are offering language translation and augmented hearing abilities to gain a larger global earphones and headphones market share.

The major vendors in the global market are:

  • Apple
  • Bose
  • Samsung
  • Sony
  • Sennheiser
  • Skullcandy

Other prominent vendors include Jabra, Bang & Olufsen, Jaybird, Motorola, Huawei, Avanca, Amkette, Asus, Audio-Technica, Beyerdynamic, Creative Technology, Denon, Grado Labs, House of Marley, JAYS, JVC Kenwood, Logitech, Monster, Panasonic, Parrot, Philips, Pioneer, Shure, Sol Republic, Turtle Beach, Urbanears, Westone Laboratories,  Xiaomi, Alphabet, Bragi, Nuheara, Rowkin, Crazybaby, Earin, Meizu, Waverly Labs, Mymanu, Toshiba, and RHA.

Key market insights include

  1. The analysis of the global earphones and headphones market provides market size and growth rate for the forecast period 2019-2024.
  2. It offers comprehensive insights on current industry trends, trend forecast, and growth drivers about the global earphones and headphones market.
  3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
  4. It offers a complete overview of market segments and the regional outlook of global earphones and headphones market.
  5. The report offers a detailed overview of the vendor landscape, competitive analysis, and critical market strategies to gain a competitive advantage.

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