The global earphone headphone market was worth USD 105 billion in 2020 and is further projected to reach USD 149 billion by the year 2027 ID: 862088
Download Pdf The PPT/PDF document "Global Earphone & Headphone Market- Indu..." is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
G lobal earphone & headphone market was worth USD 10.5 billi o n in 2020 and is further projected to reach USD 14.9 billion by the year 202 7 Global Earphone & Headphone Market - Industry Trends & Forecast Report 2027 Summary Global Earphone & Headphone Market , By Type (In - Ear, On - Ear, Over - Ear), By Techn ology (Wireless Earphones & headphones, Wired Earphones & headphones), By Application (Music & Entertainment, Sports & Fitness, Gaming & VR, Others), By Region (North America, Europe, Asia - Pacific (APAC), Latin America (LATAM), Middle - East & Africa (MEA) T rend Analysis, Competitive Market Share & Forecast, 2017 - 2027 A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting , revealed that the global earphone & headphone market was worth USD 10.5 billion in the year 2020. The study also states that the market is est imated to grow at the CAGR of 5.2%, earning revenue of around USD 14.9 billion by the end of 2027. The growing popularity and adoption of smartphones, tablets, laptops, portable music players, and other mobile devices are expected to propel the demand for earphones and headphones. Moreover, the increasing adoption of earphones & headphones during a workout is primarily projected to boost the earphone & headphone market growth. Global Earphone & Headphone Market - Industry Trends & Forecast Report 2027 The global earphone & headphone market was worth USD 10.5 billion in 2020 and is further projected to reach USD 14.9 bi llion by the year 2027, growing at View report Press release Sample report G lobal earphone & headphone market was worth USD 10.5 billi o n in 2020 and is further projected to reach USD 14.9 billion by the year 202 7 the CAGR of 5.3% during the forecast period (2020 - 2027). The market is expanding owing to the increasing adoption and usage of the internet and smartphone. Additionally, biometric monitoring technologies, active noise can cellation, haptics, and gesture controls have revolutionized the fundamentals of the headphones market. Also, surging sales of mobile devices, increasing usage of online streaming services, and growing disposable income are some of the factors that are ant icipated to drive the global earphone & headphone market. Global Earphone & Headphone Market - Overview The various gyms, health clubs, spas, and wellness centers are incorporating different genres of music and at differe nt sound levels, thereby driving the demand for earphones and headphones in the market. Moreover, the demand for high - quality earphones & headphones has compelled the market players to innovate in styling and technology, which has resulted in a significant demand surge. The rapid advancement in technologies and increasing preference for biometric sports tracking earphones & headphones is expected to fuel the growth of the global earphone & headphone market. The same factors are likely to drive the market gr owth during the forecast period. Global Earphone & Headphone Market Forecast and Trends Growth Drivers Technological Advancements and Improvements in Earphones & Headphones The earphones & headphone manufacturing companies are continually focusing on developing innovative and technologically advanced products. For example, in May 2021, Noise, an emerging wearables brand, has launched the Flair, a new neckband in the Indian ma rket. These are the country's first touch - enabled Bluetooth neckband earphones. Touch inputs are located near the end of the neckband, rather than on the earbuds themselves. Manufacturing companies are also attempting to reduce the size and weight of earb uds and headset to provide greater sound quality through intensive innovation. Furthermore, through the implementation of advanced technologies, they are constantly working on improving noise cancellation, which is also estimated to trigger market growth. These factors are contributing significantly to the growth of the global earphone & headphone market. Rising Demand for Convenient Wireless Technologies Due to a variety of applications such as music and entertainment, gaming, sports and fitness, and oth ers, the demand for wireless earphones and headphones is growing rapidly. Wireless earphones and headphones offer several benefits such as improved comfort, convenience, Bluetooth connectivity, NFC (Near Field Communication) and IR (infrared) connectivity, and much more. G lobal earphone & headphone market was worth USD 10.5 billi o n in 2020 and is further projected to reach USD 14.9 billion by the year 202 7 Furthermore, manufacturing enterprises are taking every possible measure to cater to the demands of practically every group, including youngsters, children, and the elderly. As a result, a large range of headphones and earphones are being l aunched every other day. For example, in January 2021, Bose introduced its Sport Open Earbuds, which have a unique outer ear fitting that allows the user to hear their surroundings while listening to music. These innovations are driving the growth of the e arphone & headphone market worldwide. Global Earphone & Headphone Market Restraints The absence of Standardization and Regulation may Hamper the Market Growth The market for headphones and earphones is highly exposed to fake and low - quality products whi ch hinder the market of genuine manufacturers. Consumers are highly drawn towards fake products as their prices are very low, Moreover, it is simply impossible to distinguish fake from genuine. The market, particularly in India and China, is rife with such substandard companies, which have a negative impact on market revenue. Furthermore, such companies control the majority of the market, and due to a lack of strict piracy regulation in emerging economies, the market is unab le to reach its full potential. Impact of COVID - 19 on the Glo bal Earphone & Headphone Market The COVID - 19 - induced pandemic has had a mixed impact on the global earphone and headphone business. On the one hand, the market has thrived as people's reliance on smartphones and computers incr eased due to online classes and the growing popularity of working from home. This is the primary factor driving the growth of the earphone & headphones market across the globe. On the other hand, manufacturers were unable to meet demand because manufacturi ng and production operations had been fully suspended due to the lockdown. However, the market is expected t o thrive in the post - COVID era. Global Earpho ne & Headphone Market - By Type Based on types, the global earphone & headphone market is categorized into in - ear, on - ear, and over - ear. Among these, the in - ear segment held the largest market share as it appeals to the major target demographic, i.e., school and college - going students. However, over - ear earphones & headphones are also gaining significant traction over the past few years. The introduction of over - ear products with built - in noise - canceling capabilities and added comfort for the user is fueling the expansion of this sector. Moreover, the introduction of features such as hi - fidelity sound is f ueling the demand for these p roducts in the global market. Global Earphone & H eadphone Market - By Technology Based on technology, the earphone & headphone market is segmented into wireless and wired earphones & headphones. The wireless earphones & headphones segment held the highest market share in 2020. It is also the fastest - growing segment owing to the conveni ence and ease associated with wire - free use. Wireless earphones & headphones connect to any device, such as G lobal earphone & headphone market was worth USD 10.5 billi o n in 2020 and is further projected to reach USD 14.9 billion by the year 202 7 a smartphone, stereo speaker, television, gaming console, computer, or other electronic devices, without using a wire or cable. However, wired earph ones still have prevalence in the market, especially in developing countries like India. Global Earphone & Headphone Market - By Application Based on application, the global earphone & headphone market is categorized into music & entertainment, sports & fitness, gaming & VR, and others. Among these, the music & entertainment segment holds the lionâs share due to the increasing number of customers using social media platforms. The sports & fitness application market is also rising, owing to the increasing trend of grabbing a headphone before a long workout. For example, the boAt Rockerz 261 wireless headphones, with their high level of comfort, are ideal for your workout routine. With the rising popularity of multiplayer games like Fortnite, the gaming & VR segment is also gaining significant traction. Global Earphone & Headphone Market - By Region Geographically, the global earphone & headphone market is segmented into North America, Europe, Asia - Pacific (APAC), Latin America (LATAM), Middle - East & Afric a. The Asia Pacific held the largest market share in 2020 and is expected to maintain its dominance over the forecast period owing to the availability of affordable smartphones, along with the rising disposable income, and growth of multi - faceted consumer requirements. North America is also projected to witness a promising growth rate and is an important region in terms of revenue generation in the glob al earphone & headphone market. Global Earphone & Headphon e Market: Competitive Landscape There are more than 3,000 companies engaged in manufacturing earphones & headphones. Companies such as Bragi GmbH, LG Electronics Inc., Sennheiser Electronic Corporation, Samsung Electronics Co., Ltd., Sony Corporation, Beats Electronics, Huawei Technologies Co Ltd., JA BRA Corporation, Bose Corporation, Skullcandy Inc., Mi, JBL, Boat - LifeStyle, Philips, and Panasonic Corporation are the leading player in the global headphones & earphones market across the globe. The competition is very stiff with the presence of leading manufacturers who adopt innovative and advanced techniques to stay ahead in the competition. Recent Developments in Global Earphone & Headphone Market l In January 2021, JBL announced the arrival of a new line of audio products -- JBL Tour One over - ea r headphones and JBL Tour Pro Plus TWS earbuds, under the Tour series. Both the products come with adaptive noise cancellation and patented Pro Sound and TalkThru technology. Both the devices have Amazon Alexa and Google Assistant built - in. l In May 2021 , Nothing, a London - based consumer technology company announced its plan of launching âEar 1â in June 2021 globally. The company, backed by Indian Entrepreneur Kunal Shah, aimed towards capturing the earphone market with its first product launch. G lobal earphone & headphone market was worth USD 10.5 billi o n in 2020 and is further projected to reach USD 14.9 billion by the year 202 7 Scope of the Report Attributes Details Years Considered Historical data â 2017 - 2020 Base Year â 2020 Forecast â 2021 â 2027 Facts Covered Revenue in USD Million Market Coverage North America, Europe, the Asia - Pacific, Latin America, and the Middle East and Africa Product Service/Segmentation By Type, By Portability, By Application, By Region Key Players Bragi GmbH, LG Electronics Inc., Sennheiser Electronic Corporation, Samsu ng Electronics Co. Ltd., Sony Corporation, Beats Electronics, Huawei Technologies Co Ltd., JABRA Corporation, JAYBIRD LLC, Bose Corporation, Skullcandy Inc., Mi, JBL, Boat - LifeStyle, Koninklijke Philips N.V., Panasonic Corporation, Apple, Inc., Grado Labs, Harman International Industries, Incorporated, Other Prominent Players By Type Ø In - Ear Ø On - Ear Ø Over - Ear By Technology G lobal earphone & headphone market was worth USD 10.5 billi o n in 2020 and is further projected to reach USD 14.9 billion by the year 202 7 Ø Wireless Earphones & headphones Ø Wired Earphones & headphones By Application Ø Music & Entertainment Ø Sports & Fitness Ø Gaming & VR Ø Others By Region Ø North America Ø Europe Ø Asia - Pacific (APAC) Ø Latin America (LATAM) Ø Middle - East & Africa (MEA) G lobal earphone & headphone market was worth USD 10.5 billi o n in 2020 and is further projected to reach USD 14.9 billion by the year 202 7 FAQs: 1. What is the current size of the global earphone & headphone market? Answer: The global earphone & headphone market reached USD 10.5 billion in 2020. 2. What are the major factors driving the growth of the global earphone & headphone market? Answer: The major factors driving the growth of the global earphone & headphone m arket are technological advancements, improvements in earphones & headphones, and the rising demand for convenient wireless technologies. 3. Who are the key players in the global earphone & headphone market? Answer: The key players in the global earphone & headphone market are Bragi GmbH, LG Electronics Inc., Sennheiser Electronic Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Beats Electronics, Huawei Technologies Co Ltd., JABRA Corporation, JAYBIRD LLC, Bose Corporation, Skullcandy Inc., M i, JBL, Boat - LifeStyle, Koninklijke Philips N.V., Panasonic Corporation, Apple, Inc., Grado Labs, Harman International Industries, Incorporated, Other Prominent Players 4. Which application segment accounted for the largest share in the global earphone & headphone market? Answer: The music and entertainment segment accounted for the largest share in the global earphone & headphone market. 5. Which region is at the highest growth rate in the global earphone & headphone market? Answer: The Asia - Pacific re gion has the highest growth rate in the global earphone & headphone market. G lobal earphone & headphone market was worth USD 10.5 billi o n in 2020 and is further projected to reach USD 14.9 billion by the year 202 7 About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. You get well - researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and tim ely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk - return trade - off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com G lobal earphone & headphone market was worth USD 10.5 billi o n in 2020 and is further projected to reach USD 14.9 billion by the year 202 7