Earphones And Headphones Market Report Overview
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The global earphones and headphones market size is estimated to be USD 35350 million in 2022 and is projected to touch USD 145106.14 million by 2031, exhibiting a CAGR of 17.0% during the forecast period.
Earphones and headphones are a pair of small loudspeakers. The product is worn by user’s ears or around the head. Headphones are connected to a signal source such as radio, portable media player, audio amplifier, smart phones, electronic musical instruments, and video game console. The product is available in different ranges and audio quality.
Growing technological advancements are anticipated to accelerate market expansion. Increasing acceptance and adoption of smart devices are projected to drive market progress. Rising demand for the product in the music and entertainment industry is expected to surge market growth. High sales for electronic devices among consumers are estimated to expand market progress during the forecast period. Growing utilization of OTT (Over The Top) platforms such as Netflix, Amazon Prime, Disney Hot star, and Hulu are predicted to drive market growth. Growing demand to watch sports and fitness videos privately is estimated to expand market performance. High demand to attend business meetings via online is projected to drive market progress. However, the high cost of wireless earphones and headphones are predicted to hamper earphones and headphones market growth.
COVID-19 Impact: Growth in Online Marketing to Fuel Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with earphones and headphones experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
Lockdown restrictions and social distance protocols affected market performance. During the pandemic market is expected to witness positive growth due to increasing demand for electronic products. Online marketing influenced market progress. High demand for electronic products boosted product demand. Online classes and meeting during the pandemic fueled market performance. Increasing digitalization propels market growth.
LATEST TRENDS
"Increasing Adoption of Advanced Products to Spur Market Growth "
Growing penetration of the internet and increasing adoption of advanced products is predicted to accelerate market growth. High disposable income is projected to drive market progress. Rising emphasizing on purchasing advanced products is estimated to fuel market growth. Increased demand for affordable and high-quality earphones is anticipated to accelerate market growth in the coming years. Growing innovation in the product is responsible to attract more customer is predicted to surge market growth. Further, the product has improved connectivity and flexibility. Such advantages of the product are anticipated to expand market growth. Growing customer demand for the product is estimated to expand earphones and headphones market performance in the coming years.
Earphones And Headphones Market Segmentation
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- By Type
Based on type, the market is divided into in-ear and over-Ear.
In-ear is expected to be the leading part of the segmentation type.
- By Application
Based on the application, the market is divided into music & entertainment, sports & fitness, and gaming & virtual reality.
Music & entertainment is expected to be the leading part of application segmentation.
DRIVING FACTORS
"Growth in Online Platforms to Support Market Progress "
Growing utilization of OTT (Over The Top) platforms such as Netflix, Amazon Prime, Disney Hot star, and Hulu are predicted to drive market growth. High demand for the product in music and entertainment industry is projected to boost market progress. Increasing usage of online stream platforms for watching TV shows, movies, stand-up comedies, and talk shows is estimated to grow market development. Increasing number of subscribers globally is expected to fuel market growth. Growing popularity about the product among the millennials population is predicted to boost market progress in the forthcoming years. Further, growing demand for gaming and virtual reality is responsible for industry expansion. Increasing GDP and per capita income are projected to drive market growth. High demand to listen high quality music for mood enhancement is anticipated to propel market growth. In addition, growing penetration of music streaming is expected to surge earphones and headphones market expansion.
"Increasing Focus on R&D Expenditure and Comfort of the Product to Expand Market Performance"
Growing demand for research and development (R&D) expenditure is predicted to surge market growth. High demand for quality audio and comfort is anticipated to drive market growth. Growing adoption of wireless earphones globally is expected to fuel market growth. Increasing need for smartphones and tablets globally is estimated to boost market growth. Increasing demand to attend an online meeting for business or office work is projected to drive market growth. Increasing investment by major market players in upgrading earphone products is anticipated to attract more customers. High demand for electronic products globally is predicted to boost demand for the product. Increasing spending on electronic goods is predicted to grow market growth. Increasing preference for Wi-Fi enabled, and sound assistance headphones are estimated to surge market expansion in the coming years. Rapid urbanization and technical innovation are expected to support market growth.
RESTRAINING FACTORS
"High Cost and Unorganized Sector to Hamper Market Growth "
High cost of the product is estimated to hamper market growth. Further, unorganized sector is anticipated to reduce earphones and headphones market progress in the coming years.
Earphones And Headphones Market Regional Insights
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"Increasing Number of OTT Platform Subscribers in North America to Drive Market Share "
North America is estimated to dominate earphones and headphones market share due to increasing number of OTT platform subscribers. Rising demand for the product in music and entertainment industry is expected to surge market growth. High consumer sales for electronic devices are estimated to expand market progress during the forecast period. Growing utilization of OTT (Over The Top) platforms such as Netflix, Amazon Prime, Disney Hot star, and Hulu are predicted to drive market growth.
KEY INDUSTRY PLAYERS
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Beats (U.S.)
- Plantronics (U.S.)
- Bose (U.S.)
- Sony (Japan)
- Sennheiser (Germany)
- Harman (U.S.)
- LG Electronics (South Korea)
- Skullcandy (U.S.)
- Jaybird (U.S.)
- AKG (Austria)
- Audio-Technica (Japan)
- Jabra (Denmark)
- Creative Technology (U.S.)
- JVC Kenwood (Japan)
- Philips (Netherlands)
- Logitech (Switzerland)
- Shure (U.S.)
- Urbanears (U.S.)
- Westone (Canada)
- Beyerdynamic (Germany)
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 35350 Million in 2022 |
Market Size Value By |
US$ 145106.14 Million by 2031 |
Growth Rate |
CAGR of 17% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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How much is the global earphones and headphones market worth?
The global earphones and headphones market size is estimated to be USD 35350 million in 2022 and is projected to touch USD 145106.14 million by 2031.
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What is the CAGR that the earphones and headphones market is expected to exhibit by 2031?
The earphones and headphones market is expected to exhibit a CAGR of 17.0% during the forecast period.
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Who are the leading players in the earphones and headphones market?
The leading players in the earphones and headphones market are, Beats, Plantronics, Bose, Sony, Sennheiser, Harman, LG Electronics, Skullcandy, Jaybird, AKG, Audio-Technica, Jabra, Creative Technology, JVC Kenwood, Philips, Logitech, Shure, Urbanears, Westone, Beyerdynamic.
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Which are the driving factors of the earphones and headphones market?
Growth in Online Platforms to Support Market Progress and Increasing Focus on R&D Expenditure and Comfort of the Product to Expand Market Performance are the driving factors of the earphones and headphones market.
