The global earphone and headphone market is expected to grow at ~9.30% CAGR during the forecast period.
Global earphone and headphone market is expected to witness substantial growth during the forecast period; it was valued at USD 8623.9 million in 2013. The market value reached USD 11785.5 million in 2017 and is expected to reach USD 19853.5 million by 2023.
North America continues to be the dominating region in earphone and headphone market valued at USD 4380.8 million in 2017. However, Asia-Pacific is expected to be the highest growing region at a CAGR of 10.89% during the forecast period. Some of market players such as audio-technica, Sony Corporation, Apple Inc., Sennheiser, and beyerdynamic are expected to dominate the earphone and headphone market during forecast period. In January 2019, Audio-Technica Corporation launched its sound reality ATH-SR50BT and ATH-SR30BT wireless over-ear headphones, which provide high-resolution audio playback. In January 2019, beyerdynamic launched Xelento wireless headphones; it is a combination of convenient everyday solutions and sophisticated luxury headphones.
Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/7628
The key players of global earphone and headphone market are Apple Inc (US), Sony Corporation (Japan), Sennheiser Electronic GmbH & Co. KG (Germany), Bose Corporation (US), Skullcandy Inc. (US), AIAIAI ApS (Denmark), AKG Acoustics GmbH (Austria), Audio-Technica Corporation (Japan), beyerdynamic GmbH & Co. KG (Germany), Creative Technology Ltd (Singapore), Denon Electronics (USA), LLC (US), Grado Labs Inc. (US), House of Marley, LLC (US), and Jays AB (Sweden) among others.
Global Earphone and Headphone Market, By Type, (2013 Vs 2017 Vs 2023)
Based on type, the market has been classified into wired earphone and headphone market and wireless earphone and headphones market. Wired earphones are expected to dominate the earphone and headphone market reaching a market value of USD 5245.5 million in 2023 and wireless earphones are expected to grow rapidly at a CAGR of 11.8% during forecast period. Wireless headphones and earphones often use Bluetooth transmission standard to transmit audio connect to various devices simultaneously. Devices with Bluetooth technology can connect and exchange data over a short distance using radio transmission. Wireless headphones and earphones are widely used in fitness, sports, gaming, and virtual reality. Wired headphones and earphones have a 3.5mm audio jack which is compatible with all the latest smartphones and audio devices; they are widely used in the corporate sector, aerospace & defense, and media & entertainment.
Increased integration of new technologies in Earphone And Headphone Market and increasing ownership of mobile phones, tablets, and mp3 players is expected to drive the earphone and headphone market during forecast period. However, high cost of wireless headphones and earphones poses a challenge for the market during forecast period.
Over the last decades Asia-Pacific has become a global manufacturing hub, with many multinational companies setting up high-volume production facilities in the region. Countries such as Singapore, Indonesia, and Australia have a great scope in the earphone and headphone market as these countries are witnessing significant developments in wireless technologies. Moreover, in these countries, along with the growing manufacturing facilities, competition among manufacturers is also growing. China and India are the fastest growing economies in Asia-Pacific, and the telecom industry is expected to grow substantially during the forecast period. Moreover, the electronic industries in these countries have witnessed some revolutionary changes in the past few decades in terms of its application in consumer electronics, IT & telecom industry, and other application areas, which is driving the market for earphone and headphones in the Asia-Pacific region.
Regional Analysis (2013 Vs 2017 Vs 2023)
The global earphone and headphone market by region is segmented into Asia Pacific, North America, Europe, and the Middle Eats & Africa, and South America. North America is expected to dominate the earphone and headphone market during forecast period due to high presence global players in earphone and headphone market. The companies active in this region are constantly reinventing and rebranding their existing products to increase the level of quality and innovation in design. Asia-Pacific is expected to grow rapidly during forecast period due to rise in urban population and increase in disposable income.
Get Complete Report @ https://www.marketresearchfuture.com/reports/earphone-headphone-market-7628
- In June 2018, Jays Group AB (publ) acquired Krusell United AB, including all the subsidiaries. The acquisition has enabled Jays Group AB to expand its market globally, impacting the rise in annual growth.
- In February 2018, Bose Corporation launched Bose SoundSport Free wireless in-ear headphones in India. These headphones provide five hours of music and has water repellant surface, especially designed for the people who workout
- In January 2019, Sennheiser Electronic GmbH & Co. KG launched the Grey headsets series that consist of Presence Grey UC and Presence Grey Business. These are Bluetooth headsets with high-quality sound.
- By Type: Wired earphone & headphone and wireless earphone & headphone.
- By Application: fitness/sports, gaming and virtual reality, media & entertainment, corporate, and others.
Key questions addressed by the report
- What was the historic market size (2017)?
- Which segmentation (Component / Solution/ Industry is driving market?
- What will be the growth rate by 2024?
- Who are the key players in this market?
- What are the strategies adopted by key players?
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Market Research Future
Office No. 528, Amanora Chambers
Pune – 411028 Maharashtra, India
Phone: +91 841 198 5042