Rising demand for new technology and high interoperability with smartphones to propel market growth
A recent report on Earphones and Headphones Market - Global Outlook and Forecast 2017 - 2023, released by Arizton Advisory & Intelligence says that the global headphones market is expected to grow at an impressive CAGR of 7.31% over 2017-2023 and cross $20 billion by 2023.
Rising demand for new technology to propel headphones & earphones market growth
Noise-cancellation and wireless connectivity in professional and consumer headphones and earphones are a couple of recent technologies that are influencing and are expected to influence the growth of the market across the globe. These new and upcoming technologies along with high disposable income and technology awareness of consumers are expected to fuel the growth of the market over the next few years.
High interoperability with smartphones and tablets to promote headphones market growth
High compatibility with the aforementioned personal electronics positively impacts the global headphones market. Since, it would be correct to say that the sales are also expected to increase in the near future.
The number of smartphone and tablet users is increasing at a fast pace across the world. The base of smartphone users is estimated to grow to more than 3 billion in 2020. With high compatibility with personal electronics such as smartphones and tablets, the growth in the smartphones and tablets market is expected to bolster the market growth.
Increased partnerships with mobile device manufacturers to also promote headphones market growth
Strategic alliances between headphones manufacturers and mobile device manufacturers are opening up the global market by making headphones available to consumers at an affordable price.
Short replacement cycle to also promote market growth
The short replacement cycle due to frequent product updates such as changing fashion or functionality, resulting in increased demand of headphones, is another factor tipped to increase the demand and subsequently the headphones market across the globe.
Major vendors profiled in the report
Beats Electronics LLC
Sennheiser Electronic GmBH & Co.
Other prominent manufacturers include AIAIAI, AKG Acoustics, Apple, Audio-Technica Corp., Beyerdynamic GmBH & Co. KG, Creative Technology Ltd., Denon, Grado Labs, The House of Marley, Jays AB, JBL, JVCKenwood Corp., Logitech International S.A., Molami, Monster Cable Products Inc., Panasonic Corp., Parrot, Pioneer Corp., Shure Incorporated, SMS Audio, Sol Republic, Urbanears, and Westone Laboratories.
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