Earphones and Headphones Market size forecast to exceed USD 18.2 billion by 2023

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Earphones and Headphones Market size predicted to hit USD 18.2 billion
by 2023: Global Market Insights Inc.
Earphones and Headphones Market size was USD 11.68 billion in 2015, with 4.6% CAGR
from 2016 to 2023, to exceed USD 18 billion by 2023; as per a new research report by Global
Market Insights, Inc.
Rising adoption of smart devices such mobile phones, tablets, and portable music players are
likely to drive global earphones & headphones market growth. Short replacement cycle of
these products owing to the changing fashion, functionality, and damage or loss may lead to
high industry growth.
High compatibility with the aforementioned personal electronics as well as growing usage in
health and fitness related activities will positively impact earphones market size from 2016 to
2023. In addition, rising disposable income accompanied by increasing consumer preference
is likely to catapult headphones market demand. Growing acceptance of these devices in the
corporate sector is anticipated to boost revenue.
Continuous product development and innovation initiatives by companies such as Sennheiser
Electronic, Beats Electronics and Bose are likely to the revolutionize industry scenario.
Customers are likely to opt for these devices owing to high fidelity and aesthetic appeal along
with advanced technology offering. Strong economic growth, especially in emerging industries
such as China, India, and Brazil is predicted to catalyse adoption over the forecast timeframe.
Rapid technological advancements are forecast to result in miniaturization and development
of light weight products, augmenting earphones market demand. In addition, features such as
noise cancellation offered by these devices are also likely to drive demand.
Consumer preferences for enhanced experiences without noise distortion will aid earphones
market demand over the f orecast timeline. Technological developments such as Wi-Fi,
Bluetooth, SKAA, and infrared in wireless products could offer potential growth avenues
through 2023.
Growing prominence of low-cost counterfeit devices may pose challenge to the global
headphones market. Furthermore, rising customer inclination towards local products offering
similar features at considerably low price, may further impede growth.
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Europe earphones and headphones market size, by technology, 2012-2023 (USD Million)
Browse key industry insights spread across 79 pages with 43 market data tables & 45 figures
& charts from the report, “Earphones And Headphones Market Size By Technology
(Wired, Wireless), By Product (In-Ear, Over-the-Ear), Industry Analysis Report, Regional
Outlook (U.S., Canada, UK, Germany, India, China, Japan, South Korea, Brazil, Mexico),
Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 2023
in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/earphone-and-headphone-market
Global shipments were 339.2 million units in 2015, with volume forecast to grow at
3.9% CAGR and exceed 470 million units by 2023.
Wired technology segment was valued at over USD 10 billion in 2015 and is estimated
to grow at 4.6% CAGR from 2016 to 2023. Rising significance of portable media
players and mobile phones will fuel growth.
In-ear products were valued at over USD 7.7 billion in 2015 and could witness huge
growth owing to light weight and compact size.
Key insights of Earphones And Headphones Market:
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North America earphones and headphones market share was over 36% of the global
revenue in 2015. Industry participants need to company with standards and norms set
forth by The Director of Federal Register and OSHA, which are aimed at using accurate
components for production.
China headphones market is estimated to grow at 5.6% CAGR from 2016 to 2023.
Increasing adoption of these devices owing to possession of numerous devices per
user has contributed to consumption.
Key players operating in the industry are Beats (Apple), Sennheiser, Shure, and Bose.
Industry participants focus on improvisation as well as new product development which
are anticipated to be the favoured growth strategy. Rising R&D investments for
improving product differentiation is likely to catapult industry growth.
Global Market Insights has segmented the earphones & headphones industry on the basis of
product, technology and region:
Earphones & Headphones Product Analysis (Revenue, USD Million, 2012 - 2023)
o In-ear
o Over-the-ear
Earphones & Headphones Technology Analysis (Revenue, USD Million, 2012 -
2023)
o Wired
o Wireless
Earphones & Headphones Regional Analysis (Revenue, USD Million, 2012 -
2023)
o North America
U.S.
Canada
o Europe
Germany
UK
o Asia Pacific
India
China
Japan
Korea
o Latin America
Brazil
Mexico
o MEA
Segmentation of Earphones And Headphones Market: