Earphones and Headphones Market Size is Projected to Reach USD 25 Billion by 2024

Public safety applications in the earphones and headphones market have witnessed growing adoption across ambulances, aircraft rescues, fire boats and firefighting departments will, thereby driving the industry growth

Selbyville, United States - July 9, 2019 /MarketersMedia/ —

Earphones and Headphones Market is expected to exceed USD 25 billion by 2024. Growing penetration of smart devices, such as smartphones, smartwatches, and tablets, is driving the industry. Ongoing technological advancements and enhancements in sound quality are encouraging device manufacturers to introduce advanced features and functions in these devices. Manufacturers are integrating wireless technology into these devices to provide innovative features to their customers. For instance, in June 2018, OnePlus announced the launch of bullet wireless earbuds with its new smartphone, OnePlus 6. Such technological advancements, which cater to the specifications and sophistication of the customers are generating a high demand for these devices in the earphones and headphones market.

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The adoption of the devices across several verticals is a major factor that promotes the earphones and headphones market growth. End users in the industry include aviation, industrial, call center, and consumer sectors. Wireless Bluetooth and NFC-connected devices are highly in demand as compared to conventional, wired headsets owing to the convenience. The overall costs of earphones are expected to decrease owing to the rise in automation in manufacturing equipment and lower input & raw material costs. The demand for visual and audio electronic media, such as laptops, iPods, and MP3 players, has increased and is expected to witness a high growth rate thereby driving the earphones and headphones industry growth.

Bluetooth and NFC-enabled technologies are predicted to experience a high growth owing to the comfort and ease-of-usage they offer. Rising focus on sports and fitness equipment has caused the focus to shift to comfortable and movement-friendly wireless technology, thereby propelling the earphones and headphones market. The wired technology can hinder free movement and obstruct operations; hence, customers are shifting focus toward wireless equipment. Noise canceling headphones are growing in customer attention as they provide environmental noise elimination and expansive usage across various verticals. The wireless technology poses many issues due to non-uniform signals, battery longevity, and range issues. However, R&D in the field of wireless technology is expected to overcome the drawbacks related with this technology.

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A rise in the purchasing power of the consumers is driving the earphones and headphones market growth. With the rise in the economic condition of the people, the ability to purchase these devices has increased. Several players are targeting consumers to provide devices that are affordable. However, the unorganized sector is restricting the growth of the earphones and headphones market. Several local players are offering the same features and functions in an affordable price range that will allow consumers to take advantage of the high quality and functions in a very less cost. The affordability of the devices from unorganized players is encouraging the customers to purchase the devices, thereby hindering the earphones and headphones industry.

Latin America earphones and headphones market is anticipated to witness a surge owing to the increasing proliferation of handheld music player devices such as MP3 players and smartphones. The growing trend of using headphones while exercising and driving is anticipated to drive the industry growth. Customers are increasingly inclined toward spending on products such as music devices. Furthermore, the leading market players in the region are collaborating with public figures to gain consumer attention. For instance, Sennheiser collaborated with several TV stars and Latin artists including Shakira, Diego Torres, Rubben Blades, and Ivete Sangalo, helping the company to be one of the leading brands in the regional earphones and headphones market.

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Key players operating in the earphones and headphones market include Sennheiser Electronic, Panasonic Corporation, Bose Corporation, Sony Corporation, Pioneer Corporation, Beats Electronics, Skullcandy, and Apple, Inc. With the industry’s intensely competitive environment, technological advancements by key players are playing a vital role in inducing the earphones and headphones market growth. The vendors are majorly competing based on pricing, portfolio, and product differentiation and with the rise in product postponements and the growing demand for smart products, the industry’s competitive atmosphere is anticipated to further strengthen over the forecast timespan.

Table of Contents (ToC) of the report:
Chapter 3 Earphones & Headphones Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2012- 2024
3.3 Industry ecosystem analysis
3.3.1 Distribution channel overview
3.3.2 End-use landscape
3.4 Industry impact forces
3.4.1 Growth drivers
3.4.1.1 Technological advancements
3.4.1.2 Growing demand across several application areas
3.4.1.3 Rising purchasing power
3.4.2 Industry pitfalls and challenges
3.4.2.1 Unorganized sector
3.5 Growth potential analysis
3.6 Porter’s analysis
3.7 Average selling price trend, 2012 – 2024
3.7.1 Earphones ASP trends, by technology, 2012 - 2024
3.7.2 Headphones ASP trends, by technology, 2012 - 2024
3.8 Competitive landscape, 2016
3.9 PESTEL analysis

Chapter 4 Earphones & Headphones Market, By Technology
4.1 Earphones market share by technology, 2016 & 2024
4.2 Headphones market share by technology, 2016 & 2024
4.3 Earphones
4.3.1 Wired Technology
4.3.2 Wireless Technology
4.4 Headphones
4.4.1 Wired Technology
4.4.2 Wireless Technology

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