Global Earphone and Headphone Market: Overview
Growing global music industry along with revolutionary breakthroughs in professional audio and wireless connectivity technologies have propelled the demand in the global earphone and headphone market. Popularity of earphones and headphones amongst millennials and young population is also driving the growth of the global earphone and headphone market. Many players and manufacturers have been teaming up with well-known and popular artists, either from cinema or music industries, to promote their new products. Some companies have also started manufacturing featured ‘artist special’ series by collaborating with various popular music artistes to provide their consumers with a ‘signature’ sound profile. Breakthroughs in technology and increasing affordability of high end technologies such as NFC, Bluetooth, and both active and passive noise cancellation properties have also motivated the global earphone and headphone market in recent times.
High consumer demand for replacement of relatively older technologies, increasing uptake of new technologies, shorter electronic product lifecycles, and constantly evolving audio technologies are some of the major influencers for the development and expansion of the global earphone and headphone market. Increasing popularity of wireless headphones have propelled the need for efficient as well as affordable wireless connection technologies in the global earphone and headphone market. Vendors are increasingly investing in research and development activities to design and produce products that feature advanced facilities such as 3D surround sound, integrating industry leading modules such as Dolby Atmos and Dolby 5.1, and gesture control features.
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Headphones are a sets of small speakers that is used to listen sound from music player, a computer, or other electronic device. Headphones formerly comprised one speaker for each ear, attached by a band over the head. Though the style is still in trend, the latest headphones are considerably smaller, which are inserted into the ear, and are called earbuds. Presently, headphones can be either wired or wireless.
Rise in the number of portable or smartphone devices, access to video and music content on-the-go, and the rapid expansion of the music industry are key factors boosting the global headphones market. Moreover, the global headphones market is driven by the rising demand for portable devices that offer superior sound and a boosted audio experience. Furthermore, advances in nano-chip technology have prompted manufacturers to reduce the size of the headphones, which has led to the development of wireless headphones that fit seamlessly in the human ear.
Additionally, improved standard of living and rise in disposable income are projected to offer significant opportunities to the global headphones market. Moreover, increased utilization of headphones across offices and gyms is expected to drive the headphones market during the forecast year.
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The global headphones market can be segmented based on headphone type, type, connectivity, application, feature, microphone availability, distribution channel, and region. In terms of headphone type, the market can be divided into in ear, on ear, and over ear. Based on type, the market can be bifurcated into smart headphones and non-smart headphones. Based on connectivity, the market can be classified into wired headphones and wireless headphones. The wireless headphones segment is further sub-segmented into Bluetooth, radio frequency, and NFC. In terms of application, the market can be divide into music and entertainment, gaming, sports and fitness, and others (travel, home & TV audio).
Based on feature, the headphone market can be split into noise cancelling, water resistance, and others. In terms of microphone availability, the market can be segregated into with microphone and without microphone. Based on distribution channel, the market can be bifurcated into online sales channels and offline sales channels. The offline sales channel segment can be sub-divided into hypermarkets & supermarkets, convenience stores, independent electric stores, and department stores.
In terms of region, the global headphones market can be segmented into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA). The North America market comprises the U.S., Canada, and Rest of North America. Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa comprises GCC, South Africa, and Rest of Middle East & Africa. South America consists of Brazil, Mexico, and Rest of South America. In 2018, the Europe and North America dominated the global headphones market. They are expected to maintain their dominance during the forecast period, owing to significantly high rate of adoption of technology by developed countries in these regions. However, the market in Asia Pacific estimated to expand at a rapid pace in the near future, due to a rise in disposable income of consumers in developing countries, such as China and India, in the region.
Key players operating in the global headphones market include Apple Inc., Bose Corporation, Samsung Group, Sennheiser electronic GmbH & Co., Skullcandy Inc., Sony Corporation of America, Harman International Industries (JBL), Xiaomi Corporation, Pakushve Marketing, LLC (BOAT), Motorola, Inc., Koninklijke Philips N.V., Zound Industries (Marshall), Bowers & Wilkins, Shure Incorporated, and Panasonic Corporation of North America.
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