06 April 2021
Visiongain has published a new report on Earphones & Headphones Market Report to 2031: Forecasts By Product (Earphones, Headphones), By Type (Wired, Wireless), By End-Use (Fitness/Sports, Media & Entertainment, Gaming & Virtual Reality, Corporates), By Distribution Channel (Online, Offline). PLUS, Profiles of Earphones & Headphones Companies, and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
The global earphones & headphones market was valued at US$ XX billion in 2019 and is projected to reach a market value of US$ XX billion by 2031.
Rising penetration of smartphones, tablets, and MP3 players and increasing spend on electronic goods are the factors driving the growth of the earphones & headphones market. The market seeks growth opportunities from technological advancements in earphones & headphones and the growing demand for wireless headsets among sport & fitness enthusiasts. However, the high cost of devices and highly unorganized sector are some of the factors hampering the market growth during the forecast period.
COVID-19 Impact on Earphones & Headphones Market
The COVID-19 outbreak has affected the businesses and livelihood of the people at an unprecedented rate. The coronavirus outbreak is expected to have a significant impact on the earphones & headphones market. The nationwide lockdown initiatives taken by the governments had put almost all the businesses on hold. The lockdown increased the demand for earphones & headphones due to the availability of leisure time, thereby increasing the demand for earphones & headphones drastically for watching games and movies. However, the nationwide lockdown imposed by the governments led to shutting down of manufacturing facilities. The disruption in the supply chain and the trade restrictions imposed further created a demand-supply gap.
Rising Penetration of Smartphones, Tablets, And MP3 Players
Penetration of smartphones, tablets, and MP3 are on the rise across countries such as China, India, the US, and Brazil, among others owing to the increasing availability of high-end features and high consumer disposable income, thereby driving the growth of earphones & headphones market. Moreover, with rising demand for Internet-based services such as on-demand videos, audio, video streaming and gaming services, drives the growth of earphones & headphones market.
Increasing Spend on Electronic Goods
With increasing consumer disposable in developing countries, the consumers spend on electronic goods has witnessed a rise. As the spending pattern changes, there is a shift in factors spurring the purchase of electronics products. Also, with the continuous advancements in audio quality and noise cancellation features the demand for electronics goods further increases, thereby driving the growth of the earphones & headphones market.
Technological Advancements in Earphones & Headphones
Earphones and headphones have undergone advancements over the years. Bluetooth technology has matured, making wired technology obsolete. The buds are witnessing increasing demand as compared to the headphones due to the convenience offered. Also, the high quality of sound in frequencies of 15,000 to 28,000 hertz, and the enhanced noise cancellation features for distracting the ambient noise are expected to create growth prospects for the earphones & headphones market.
Growing Demand for Wireless Headsets Among Sport & Fitness Enthusiasts
Increasing focus on health and fitness among consumers is influencing the adoption of smart devices for tracking heart rate and analyze the calories burned. The wireless sports earphones enable fitness enthusiasts to monitor health vitals in real-time. The key market players are focused on developing devices which are equipped with monitoring and fitness tracking features, thereby creating growth opportunities for the earphones & headphones market.
The earphones & headphones market is highly competitive. The key market players are investing in research & development activities to develop earphones & headphones with advanced features and obtain a competitive position in the market. Some of the companies profiled in the report include Sennheiser Electronic GmbH & Co. KG, Bose Corporation, Apple Inc., Sony Corporation, Skullcandy Inc., Audio-Technica Corporation, AIAIAI ApS, AKG Acoustics GmbH, Creative Technology Ltd, and Beyerdynamic GmbH & Co. KG.
September 2020, Bose launched QuietComfort Earbuds and Sport Earbuds offer in-ear noise-cancelling headphone and better audio quality. Both the QuietComfort Earbuds and Sport Earbuds provide long battery life and provide adjustable noise control.
August 2020, Sony launched WF-1000XM3 Truly Wireless Headphones. The new wireless headphones offer noise cancellation, long battery life, built-in voice assistant Alexa, Google Assistant and Siri, and intelligent features such as touch sensor, wearing detection and quick attention mode.
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