The global Earphone and Headphone Market ,forecast to reach a value of US$ 27,535.7 Mn by 2027


Posted July 13, 2020 by spriyanka7173

The global Earphone and Headphone Market was accounted for US$ 15,985.4 Mn in terms of value in 2019 and 378.7 Mn units in terms of volume is eorresponding sound.xpected to grow at CAGR of 7.0% for the period 2020-2027.

 
Market Overview
Headphones are a small pair of wearable loudspeakers that either worn on or around the head over a user’s ears. In other words, they are electroacoustic transducers that convert electric signals to the corresponding sound. Headphones connect to a single source of the audio amplifier including radio, mobile phones, portable media player, CD player, video game console or electronic musical instrument. It is either connected with a cord or wireless technology such as Bluetooth, FM radio or DECT. Wireless headphones and earphones include over-the-ear, behind-the-ear, in-ear, and other wearing options. It includes Bluetooth enabled and noise-canceling headphones.

The global Earphone and Headphone Market was accounted for US$ 15,985.4 Mn in terms of value in 2019 and 378.7 Mn units in terms of volume is expected to grow at CAGR of 7.0% for the period 2020-2027

Market Dynamics- Drivers

Increasing mobile device penetration is expected to drive growth of the global earphone and headphone market during the forecast period
Adoption of mobile devices, especially tablets and smartphones has increased significantly in countries such as India, Indonesia, Brazil, and China. This adoption is due to increasing internet penetration and rising popularity of online music mobile streaming in these countries. According to the Coherent Market Insights’ analysis, smartphone shipments worldwide have increased from 1.1 billion units in 2013 to 1.2 billion units in 2014, of which 45% smartphone units were shipped in China in 2014. Moreover, rising trend of e-banking, mobile shopping, BOYD is boosting adoption of smartphones and tablets and thereby driving growth of the market in the near future.

Presence of a strong distribution network is expected to propel the global earphone and headphone market growth over the forecast period
Key companies in the market relying on strong distribution channels such as multi-brand distributors and retailers of headphones and earphones, in order to enhance the market presence and gain a competitive edge. According to Coherent Market Insights’ analysis, online retailing is becoming the most popular distribution channel in emerging markets such as China, Indonesia, Brazil, and Russia. In Asia, e-commerce sales recorded growth of 36% reaching US$ 615 Bn in 2014 as compared to that in 2013. Thus, these factors are expected to support the global earphone and headphone market growth over the forecast period.

Statistics:

Asia Pacific held dominant position in the global Earphone and Headphone market in 2019, accounting for 36.8% share in terms of value, followed by Europe and Asia Pacific, respectively

Figure 1: Global Earphone and Headphone Market Share (%), in terms of Value, By Region, 2019

Earphone and Headphone | Coherent Market Insights

Market Dynamics- Restraint

Rising threat of piracy and counterfeit products is expected to restrain growth of the global earphone and headphone market during the forecast period
Piracy and counterfeiting of products is a major threat to the market growth. The materials used in the production of these earphones and headphones are of substandard quality with low quality and durability. However, pirated products are offered at a fraction of the price of original products and hence are majorly preferred in emerging economies such as India and China. Thus, the presence, of counterfeit products is expected to restrain growth of the global earphone and headphone market during the forecast period.

Absence of standardization is expected to hinder the global earphone and headphone market growth over the forecast period
Lack of standardization in technology and components used for manufacturing headphones and earphones, especially by medium- and small-size companies is another factor hindering the market growth. Furthermore, inadequate standards in the market lead to high product and price differentiation, which in turn, is expected to hamper the global earphone and headphone market growth in the near future.

Market Opportunities

Merger and acquisition activities among key players can present major growth opportunities
Major companies in the market are focused on merger and acquisition activities, in order to capitalize on opportunities and gain a competitive edge in the market. For instance, in 2014, Apple Inc. acquired Beats Music and Beats Electronics, a subscription-based streaming music service provider, for US$ 3 billion. The primary goal of this acquisition is to expand its product portfolio related to earphones and headphones.

Growing demand for wireless headphones and earphones can provide lucrative business opportunities
Consumers are increasingly preferring wireless headphones and earphones, owing to sophistication and ease of use provided by these products. Key companies in the market are focused on manufacturing trendy and innovative wireless headphones and earphones to cater to rising demand from fashion-conscious consumers. Furthermore, technological advancements have led to the development of lightweight and compact earphones and headphones. Manufacturers are incorporating advanced features such as Wi-Fi, Bluetooth, and SKAA in wireless headphones and earphones for an increasing number of tech-savvy consumers.

Figure 2: Global Earphone and Headphone Market Value (US$ Mn), 2017 - 2027

Earphone and Headphone | Coherent Market Insights

The global Earphone and Headphone market was valued at US$ 15,985.4 Mn in 2019 and is forecast to reach a value of US$ 27,535.7 Mn by 2027 at a CAGR of 7.0% between 2020 and 2027.

Market Trend

North America Trend
The demand for ergonomically designed earphones and headphones is rapidly increasing, especially in the U.S. and Canada and is expected to continue during the forecast period. Increasing the adoption of sports and recreational activities in the region is another factor influencing manufacturers to introduce earphones and headphones for sports and fitness activities. Unified Communication headset is gaining traction for office purposes in the U.S. and Canada. Moreover, on average consumers in the region own three to four pairs of headphones/earphones.

Western Europe Trend
Premium headphones and earphones are gaining traction, especially in the U.K, France, and Germany. This is owing to rising disposable income and high fashion sense in the region. Purchase of earphones and headphones though online channels are gaining massive popularity in Western Europe, owing to high penetration of mobile broadband in the region. Moreover, earphones and headphones with multi-layered air damping technology and flexible swivel design are gaining popularity, especially among audiophiles in Western Europe.

Competitive Section

Key companies involved in the global earphone and headphone market are Harman International Industries, Inc. (AKG), Beats (Apple Inc.), Plantronics Pty. Limited, Audio-Technica Corporation, Sennheiser Electronic GmbH & Co. KG, Bose Corporation, Sony Corporation, Philips Electronics Ltd., JVC Corporation, and GN Netcom (Jabra).

Key Developments

Key players in the market are involved in product launches, in order to expand the product portfolio. For instance, in January 2020, Harman International Industries, Inc. introduced new AKG K361-BT and K371-BT professional studio headphones with Bluetooth connectivity.
Major companies in the market are focused on product development, in order to gain a competitive edge in the market. For instance, in September 2018, Plantronics Pty. Limited introduced a range of five wireless headsets across its BackBeat Go and BackBeat FIT lines in Australia.
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Categories Entertainment , Music , Technology
Tags Latest headphone , EarPhone , wireless Headphone , global earphone , Headphone Market
Last Updated July 13, 2020