Global earphones and headphones market size is projected to accumulate more than USD 16,563 million by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
According to the report, the surging demand for wireless headphones and earphones is driving the global market growth. The growing proliferation of smartphones in consort with reduced prices of mobile phones further advances industry expansion. Additionally, increasing consumers’ per capita income has enhanced living standards and lifestyle patterns, which has, in turn, amplified the demand for streaming services such as Deezer, Spotify, and Pandora, thereby supporting the growth of the earphones & headphones market.
Key findings of the report are enumerated below:
- Earphones led the global market in terms of proceeds in the year 2017.
- In terms of regional bifurcation, Asia Pacific is projected to become the biggest revenue contributor to the global market in the coming years.
- In 2017, wired earphones and headphones held the biggest share of the global market.
Growing smartphone sales along with the surging demand for mobility facilities has substantially bolstered the global demand for earphones and headphones. To cater to changing consumer requirements and preferences, leading market players have designed advanced wireless earphones and headphones. Moreover, the product demand has escalated globally due to lucrative advantages such as ease of connectivity, flexibility, portability, and superior sound quality.
The recent study cites that wireless technology has garnered immense popularity in this market owing to high-definition sound quality, convenience, and portability of these products. These days, consumers are in the search for on-the-go and convenient services and are highly adopting wireless earphones & headphones for audio communications and other related applications. The surging demand for wireless technology is anticipated to boost earphone and headphones market growth in the years to come.
As per the report, the enhancement in lifestyle due to increasing income level, particularly in emerging economies of Asia-Pacific adds impetus to the demand for mobile accessories. Also, rising per capita income and shifting consumer behavior towards the usage of smartphones is projected to expedite the demand for earphones and headphones during the forecast period.
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Speaking of regional proliferation, Asia Pacific accumulated the highest revenue in the year 2017, and is projected to dominate the business space over the forecast duration. This growth can be attributed to the high population & increasing disposable income in the region. The report cites that surging penetration of smartphones and the presence of affordable headphones & earphones with innovative features has boosted the demand in Asia-Pacific.
Based on technology, the market can be classified into wired and wireless technology. Wired earphones and headphones held the majority share of the market in the year 2017. However, with the rising preference for the innovative technology, the wireless earphones & headphones market is anticipated to grow at a higher CAGR over the forecast timeline. The high demand for wireless accessories can be attributed to noise cancellation feature, Bluetooth connectivity, higher convenience, and increased mobility.
The distinguished players operating in the global earphones & headphones market are Bose Corporation, Philips Electronics Ltd., Harman International Industries, Inc., Plantronics Pty Ltd., Beats Electronics (Apple, Inc.), JVC Corporation, Audio-Technica Corporation, GN Netcom, Sony Corporation, and Sennheiser Electronic GmbH & Co. KG among others. These distinguished players introduce innovative products and collaborate with other market behemoths to enhance their foothold in the global market.