This market research report provides the market size and detail segmentation analysis of the global earphones and headphones market by Type (In-ear, On-ear, Over-ear) by Technology (Wired Headphones, Wireless Headphones) by Features (Smart Headphones, Non-smart Headphones) by Geography (North America, APAC, Europe, MEA, Latin America)
The global earphones and headphones market is expected to grow at a CAGR of 7.31% during 2017–2023 and cross $20 billion in revenue by 2023.
As mobile devices are getting affordable, the demand for entry-level headphones is also increasing globally. On the other hand, there is also a huge demand for specialized, high-end, noise canceling, best sound quality earphones and headphones.
Beats Electronics, Bose, Sennheiser, Sony, and Skullcandy are the leading players in the market.
The market research report provides a holistic view of the global earphones and headphones market, the companies involved in the market, and the factors driving its growth. It also provides information on some of the latest market trends that have started to surface and are likely to become strong market driving forces for the earphones and headphones market over the next five years. This industry analysis report also provides Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further, the report also provides a complete value chain analysis of the earphones and headphones market.
There are more than 3,000 companies engaged in the manufacturing of earphones and headphones. Although most of these companies are small scale and has limited market reach, there are many multinational, global companies which are engaged in designing and manufacturing. The top five manufacturers, Beats, Bose, Sennheiser, Sony, and Skullcandy have two-thirds of the global market share in terms of value and 50% of the earphones and headphones market share in terms of volume.
The major manufacturers included in the report, are as follows:
Other prominent earphones and headphones manufacturers include AIAIAI, AKG Acoustics, Apple, Audio-Technica Corp., Beyerdynamic, Creative Technology., Denon, Grado Labs, The House of Marley, Jays AB, JBL, JVC Kenwood, Logitech International, Molami, Monster Cable Products, Panasonic, Parrot, Pioneer, Shure Incorporated, SMS Audio, Sol Republic, Urbanears, and Westone Laboratories.
Affordable technological sophistication to propel market growth
Rising demand for new technology, increasing sophistication in earphones and headphones, growing interoperability with smartphones and tablets, and growing increased partnerships with mobile device manufacturers are likely to propel the growth of the global earphones and headphones market.
Increased disposable income, enhanced technological awareness, and growth of multi-faceted consumer requirements have contributed to the growth of the global earphones and headphones market over the last decade and is expected to propel the market growth in the future.
Innovators and early adopters to facilitate market growth
Currently, the wired headphones segment leads the global market with 59% share compared to 41% by the wireless technology segment. This is, however, expected to change over the next few years, making the wireless segment the pre-dominant market segment.
The smart and non-smart earbuds segments are expected to follow a similar trend to the wired and wireless segments. Currently, the non-smart earphones and headphone segment, which is leading the market, is expected to lose its market share to the smart devices segment over the next few years.
Analysts at Arizton also anticipate innovators and early adopters, who are highly social, tech-savvy, affluent, young, and close to new scientific inventions to be the largest consumers of the technologically advanced and multi-faceted wireless headphones in the future.
Another segment of potential users is the people who use them while running or doing workout to keep themselves boosted and energized. The rise in the health conscious and fitness-aware population and the increased number of gym goers are also expected to aid the growth of the earphones and headphones market globally.
Latin American market to witness growth at a rate faster than other markets in terms of shipment
In terms of volume (shipment) and value (revenue), the European market is strongly influenced by the popularity of music in Western Europe and Scandinavian countries. The penetration of smart headsets is high in these countries as they are technologically advanced.
The second largest earphones and headphones market, in terms of volume (shipment) and value (revenue), is the North American market that is heavily influenced by technology adoption in the US. The APAC market is driven by the high population and increased the disposable income of the middle-class population, which is prominent in developing countries in the region. Developed countries such as Japan and South Korea are considered as innovators in the earphones and headphones market. The MEA market is witnessing a surge, and the demand for earphones and headphones that are noise canceling specific are expected to significantly rise among audiophiles who are increasing in the region in the future. The Latin America market is expected to grow more quickly than the overall global earphones and headphones market in terms of shipment, which is closely linked to device adoption growth.
Key market insights include
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