Global Earphone and Headphone Market to Expand at 7.0% CAGR till 2025, Driven by Demand for Portable Music Systems
Market Research Reports Search Engine (MRRSE) has added a new report, titled ‘Earphone and Headphone Market: Global Industry Analysis and Opportunity Assessment, 2015 – 2025’, to its online repository. The report states that in terms of volume and value, the global earphone and headphone market is expected to expand at a 4.10% and 7.0% CAGR, respectively, during the period between 2015 and 2025.
In the past few years, technological advancements have brought about many changes in gadgets such as headphones. Earphones and headphones have become light in weight and are now commonly available with highly advanced noise cancellation features. Major technological advancements in wireless technologies such as Bluetooth, infrared, Wi-Fi, and SKAA are predicted to boost the development of the global earphone and headphone market. The global earphone and headphone market has witnessed rapid growth in recent years and is predicted to develop faster in the coming few years due to factors such as the rising demand for portable music systems, including portable music players, tablets, and smartphones.
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The global earphone and headphone market is segmented on the basis of geography, application, product type, distribution channel, and price. By geography, the global earphone and headphone market is divided into North America, Western Europe, Asia Pacific (excluding Japan), the Middle East and Africa, Latin America, and Eastern Europe. The Asia Pacific earphone and headphone market is expected to register noticeable growth during the forecast period. Other regions are also expected to grow rapidly in the coming few years.
Some of the leading companies operating in the global earphone and headphone market are Beats (Apple Inc.), Sennheiser Electronic GmbH & Co. KG, GN Netcom A/S (Jabra), Bose Corporation, Philips Electronics Ltd., Audio-Technica Corporation, Plantronics Pty Ltd., Sony Corporation, Harman International Industries, Inc. (AKG), and JVC Corporation. Most of the leading companies in the global earphone and headphone market introduce headphones and earphones that are cost-effective and innovative. Headphone manufacturers and mobile phone manufacturers are getting motivated towards diversifying into the field of headphones and earphones to maintain their leading position in the global electronics market.
Based on application, the global earphone and headphone market is classified into personal, corporate, gaming, media and entertainment, and sports. The personal sector dominated the global earphone and headphone market in 2014 and is predicted to maintain its dominant position in the coming few years.
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By distribution channel, the global earphone and headphone market is classified into online stores, multi-brand stores, and single/mono brand stores. Based on price, the global earphone and headphone market is divided into premium price, mid-price, and low price. The premium price sector is expected to develop rapidly during the forecast period to become the dominant sector.
By product type, wireless earphones and headphones and wired earphones and headphones are the two sectors of the global earphone and headphone market. Technical advancements and innovative features in newly introduced headphones and earphones are predicted to drive the global earphone and headphone market till 2025. Diversification of the product portfolio is one of the major trends witnessed in the global earphone and headphone market.