403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
Global Headphones Market Size, Demand, Forecast To 2031
(MENAFN- Straits Research)
In recent years, headphones have undergone significant advancements in design, sound quality, portability, and connectivity thanks to progress in manufacturing and Audio technologies. The development of headphones represents a mobile revolution that commenced at the onset of the millennium. MP3 players have transitioned from independent devices to being integrated as applications on the home screen of smartphones and other mobile devices. Thus, individuals passionate about music dedicate additional time and energy to the equipment employed for music playback. In-line microphones are predominantly customary, although wireless communication has become increasingly economical.
Market Dynamics
Increasing Number of Smartphone Users and Tech-Savvy Consumers Drives the Global Market
The growing prevalence of smartphones facilitates widespread internet access, leading to a surge in the online streaming of music, videos, and other digital audio/video material forms. Headphones have been the preferred alternative for consumers to access media as they engage in online streaming. The increasing sales of smartphones and other devices are expected to drive the need for true wireless headphones, as they are compatible with personal electronics such as smartphones, tablets, and music players.
Moreover, the prevailing developments in audio technology for consumer and corporate headphones encompass noise cancellation and robust wireless connectivity. Since 2010, individuals who utilize audio gadgets for communication or music listening have grown increasingly accustomed to contemporary technologies.
Frequency of Product Updates Creates Tremendous Opportunities
The short replacement cycle of headphones is primarily driven by regular product upgrades, which encompass changes in fashion, functionality, demand for improved listening experience, as well as instances of damage or loss. The anticipated increase in demand for product upgrades is expected to drive sales and fuel shipments in the coming years due to the short replacement cycle and the expanding and shifting consumer demand. Hence, a higher frequency of product updates benefits the manufacturing and delivery of headphones.
Regional Analysis
Europe is the most significant global headphones market shareholder and is anticipated to exhibit a CAGR of 9.57% during the forecast period. Europe has had a leading role in various advancements in consumer products, such as electronics and fashion trends. European consumers are displaying a keen interest in embracing paid digital audio subscriptions. They are engaging in sports and fitness activities with enthusiasm and involvement. The surge in sales of wireless headphones as essential peripherals is facilitated by the growing inclination towards investing in music and fitness subscriptions, as well as exercise equipment.
Furthermore, shoppers in this area are acknowledged for their annual accumulation of greater savings. For instance, the typical consumer in Western Europe saves more than 10% of their annual income, a figure that is three times more than the average savings of a typical US citizen. A greater savings rate gives the chance to purchase expensive consumer durables and electronic devices. Therefore, the wireless models in Europe are expected to see significant advantages over the forecast period.
Key Highlights
The global headphones market was valued at USD 34.12 billion in 2022. It is estimated to reach USD 84.32 billion by 2031, growing at a CAGR of 10.62% during the forecast period (2023–2031).
Based on type, the global headphones market is bifurcated into on-ear, over-ear, and in-ear.
The in-ear segment dominates the global market and is projected to exhibit a CAGR of 10.97% over the forecast period.
Based on technology, the global headphones market is divided into wired, wireless, and true wireless headphones.
The wireless segment is the largest revenue contributor to the market and is anticipated to grow at a CAGR of 13.57% throughout the forecast period.
Based on features, the global headphones market is segmented into smart and non-smart headphones.
The smart segment owns the highest market and is estimated to exhibit a CAGR of 13.92% during the forecast period.
Based on end-users, the global headphones market is segmented into entertainment, sports, and gaming.
The entertainment segment dominates the market and is projected to exhibit a CAGR of 10.48% during the forecast period.
Based on noise cancellation, the global headphones market is segmented into active noise cancellation (ANC) and passive noise cancellation (PNC).
The passive noise cancellation (PNC) segment is the largest revenue contributor to the market and is anticipated to exhibit a CAGR of 7.15% during the forecast period.
Based on price range, the global headphones market is segmented into premium, moderate and low.
The premium segment owns the highest market share and is estimated to exhibit a CAGR of 10.95% during the forecast period.
Based on distribution channels, the global headphones market is segmented into online and offline.
The online segment dominates the global market.
Europe is the most significant global headphones market shareholder and is anticipated to exhibit a CAGR of 9.57% during the forecast period.
Competitive Players
The key global headphones market players are Apple, Sony, Samsung, Bose, Sennheiser, Skullcandy, Anker, and Amkette.
Market News
In April 2023, The sale of the Bose Professional Division to Transom Capital Group ("Transom"), a top operations-focused middle market private equity firm, was announced by Bose Corporation, a multinational corporation with headquarters in the US and a market leader in audio equipment. With this agreement, Bose Professional's commercial installation and conferencing businesses will be acquired by Transom. Portable PA systems will continue to be a part of Bose's main consumer product line.
Global Headphones Market: Segmentation
By Type
On-ear
Over-ear
In-ear
By Technology
Wired
Wireless
True Wireless Headphones
By Features
Smart
Non-Smart Headphones
By Noise Cancellation
Active Noise Cancellation (ANC)
Passive Noise Cancellation (PNC).
By End-User
Entertainment
Sports
Gaming
By Price Range
Premium
Moderate
Low
By Distribution Channel
Online
Offline
By Regions
North America
Europe
Asia-Pacific
Latin America
The Middle East and Africa
Market Dynamics
Increasing Number of Smartphone Users and Tech-Savvy Consumers Drives the Global Market
The growing prevalence of smartphones facilitates widespread internet access, leading to a surge in the online streaming of music, videos, and other digital audio/video material forms. Headphones have been the preferred alternative for consumers to access media as they engage in online streaming. The increasing sales of smartphones and other devices are expected to drive the need for true wireless headphones, as they are compatible with personal electronics such as smartphones, tablets, and music players.
Moreover, the prevailing developments in audio technology for consumer and corporate headphones encompass noise cancellation and robust wireless connectivity. Since 2010, individuals who utilize audio gadgets for communication or music listening have grown increasingly accustomed to contemporary technologies.
Frequency of Product Updates Creates Tremendous Opportunities
The short replacement cycle of headphones is primarily driven by regular product upgrades, which encompass changes in fashion, functionality, demand for improved listening experience, as well as instances of damage or loss. The anticipated increase in demand for product upgrades is expected to drive sales and fuel shipments in the coming years due to the short replacement cycle and the expanding and shifting consumer demand. Hence, a higher frequency of product updates benefits the manufacturing and delivery of headphones.
Regional Analysis
Europe is the most significant global headphones market shareholder and is anticipated to exhibit a CAGR of 9.57% during the forecast period. Europe has had a leading role in various advancements in consumer products, such as electronics and fashion trends. European consumers are displaying a keen interest in embracing paid digital audio subscriptions. They are engaging in sports and fitness activities with enthusiasm and involvement. The surge in sales of wireless headphones as essential peripherals is facilitated by the growing inclination towards investing in music and fitness subscriptions, as well as exercise equipment.
Furthermore, shoppers in this area are acknowledged for their annual accumulation of greater savings. For instance, the typical consumer in Western Europe saves more than 10% of their annual income, a figure that is three times more than the average savings of a typical US citizen. A greater savings rate gives the chance to purchase expensive consumer durables and electronic devices. Therefore, the wireless models in Europe are expected to see significant advantages over the forecast period.
Key Highlights
The global headphones market was valued at USD 34.12 billion in 2022. It is estimated to reach USD 84.32 billion by 2031, growing at a CAGR of 10.62% during the forecast period (2023–2031).
Based on type, the global headphones market is bifurcated into on-ear, over-ear, and in-ear.
The in-ear segment dominates the global market and is projected to exhibit a CAGR of 10.97% over the forecast period.
Based on technology, the global headphones market is divided into wired, wireless, and true wireless headphones.
The wireless segment is the largest revenue contributor to the market and is anticipated to grow at a CAGR of 13.57% throughout the forecast period.
Based on features, the global headphones market is segmented into smart and non-smart headphones.
The smart segment owns the highest market and is estimated to exhibit a CAGR of 13.92% during the forecast period.
Based on end-users, the global headphones market is segmented into entertainment, sports, and gaming.
The entertainment segment dominates the market and is projected to exhibit a CAGR of 10.48% during the forecast period.
Based on noise cancellation, the global headphones market is segmented into active noise cancellation (ANC) and passive noise cancellation (PNC).
The passive noise cancellation (PNC) segment is the largest revenue contributor to the market and is anticipated to exhibit a CAGR of 7.15% during the forecast period.
Based on price range, the global headphones market is segmented into premium, moderate and low.
The premium segment owns the highest market share and is estimated to exhibit a CAGR of 10.95% during the forecast period.
Based on distribution channels, the global headphones market is segmented into online and offline.
The online segment dominates the global market.
Europe is the most significant global headphones market shareholder and is anticipated to exhibit a CAGR of 9.57% during the forecast period.
Competitive Players
The key global headphones market players are Apple, Sony, Samsung, Bose, Sennheiser, Skullcandy, Anker, and Amkette.
Market News
In April 2023, The sale of the Bose Professional Division to Transom Capital Group ("Transom"), a top operations-focused middle market private equity firm, was announced by Bose Corporation, a multinational corporation with headquarters in the US and a market leader in audio equipment. With this agreement, Bose Professional's commercial installation and conferencing businesses will be acquired by Transom. Portable PA systems will continue to be a part of Bose's main consumer product line.
Global Headphones Market: Segmentation
By Type
On-ear
Over-ear
In-ear
By Technology
Wired
Wireless
True Wireless Headphones
By Features
Smart
Non-Smart Headphones
By Noise Cancellation
Active Noise Cancellation (ANC)
Passive Noise Cancellation (PNC).
By End-User
Entertainment
Sports
Gaming
By Price Range
Premium
Moderate
Low
By Distribution Channel
Online
Offline
By Regions
North America
Europe
Asia-Pacific
Latin America
The Middle East and Africa
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Comments
No comment