The in-ear headphones market will grow at a CAGR of around 19% by 2024
Arizton’s recent market research report on the wireless headphones market identifies Apple, Bose, Samsung, Sony, and Sennheiser as the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market segmentation byfeature (smart and non-smart), by type (in-ear, on-ear, and over-ear), by price range (low, moderate, and premium), by end-use (entertainment, fitness & sports, and gaming), and by geography (APAC, Europe, North America, Latin America, and MEA).
The wireless headphones market is projected to reach revenues of approximately $34 billion by 2024, growing at a CAGR of around 20% during 2018-2024.
The market research report also offers market share analysis in terms of unit volumes produced during the forecast period.
The wireless headphones market is divided into five major segments that consist offeatures, type, price range, end-use, and geography.
In-ear headphones segment to grow at a significant CAGR in the wireless headphones market during the forecast period
The global wireless headphones market by product type is classified into in-ear, on-ear, and over-ear. The in-ear segment dominated the largest market share in 2017, growing at a CAGR of around 19% during the forecast period. The relatively lower cost ownership, compact, and convenient to carry anywhere features of in-ear headphones is fueling the growth of this segment in the global market. These products are designed to block outside noise and are very comfortable for the end-users. The sound quality of high-end in-ear headphones will attribute to the growing sales of these products in the wireless headphones market. The smart in-ear variants are developed to house the battery effectively,and multiple drivers to increase the playback time as well as deliver high-quality audio to the user in the global market. The most common feature of these products has balanced armature which offers detailed sound with higher treble range. Such eminent features will boost the demand for these products in the global market. The vendors are launch products that provide loud and coherent sound with a higher range of bass to attract the maximum number of consumers in the wireless headphones market.
Fitness and sports segment to grow at the fastest CAGR in the wireless headphones market during the forecast period
The end-usesegment in the global wireless headphones market is divided into entertainment, fitness & sports, and gaming. The fitness and sports industry is the fastest growing segment in the global market, at a CAGR of around 21% during the forecast period. The increasing penetration of wearable devices such as smart watches, pendants, mobile applications, and rings is fueling the growth of this industry in the global market. The growing need to constantly monitor and track the users’ vital biometrics and collate the data in their devices have led to the development and launch of smart wireless headphones. The leading vendors are offering innovative products which are resistant to water and sweat, provide extra comfortable and appropriate fit during workouts, and stream the music or digital books of choice to the user to gain a larger global market share. These products are designed to reduce distraction due to the user having to take their eyes off from the activity and looking to their other devices. The increasing investment in the development of convenient, small, and wireless headphones will revolutionize the global market during the forecast period.
APAC to grow at an impressive CAGR in thewireless headphones market during the forecast period
The global wireless headphones market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. APAC occupied the third largest market share in 2018, growing at a CAGR of more than 27% during the forecast period. The availability of budget smartphones, higher disposable income, and increasing buying power of the middle-class populationare some of the major factors attributing to the growth of the APAC region in the global market. Countries such asJapan, South Korea, and Australia are the largest adopters of wireless headphones in the global market. Several types of products, including in-ear and truly wireless earbuds, are finding an unexpectedly welcoming market in several APAC countries. The increasing availability of low-priced models that are capable of music streaming and answering calls, and are improving in in terms of battery and playback time is fueling the growth of the wireless headphones market.
The other prominent players in the wireless headphones market are Skullcandy, Jabra, Bang and Olufsen, Jaybird, Motorola, Huawei, Avanca, Amkette, ASUS, Audio Technica, Beyerdynamic, Creative Technology, Denon, Grado Labs, The House of Marley, JAYS, JVCKENWOOD, Logitech, MONSTER CABLE PRODUCTS, Panasonic, Parrot, Philips, Pioneer, Shure, Sol Republic, Turtle Beach, Urbanears, Westone Laboratories, Alphabet, Bragi, Nuheara, Rowkin, Crazybaby, Earin, Meizu, Waverly Labs, and MyManu.
The complete overview of the latest market research report on wireless headphones market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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