The earphones and headphones market is expected to register a CAGR of 4% over the forecast period (2020 - 2025).
- The growing entry of new players into the market coupled with the increasing product launches by the pre-existing players in has resulted in a huge choice of headphones, earphones, and headsets - something for everyone in a host of different environments.
- For instance, in August 2019, Anker Soundcore launched its Life 2 headphones in India, that allows the user with the flexibility of connectivity, i.e., users can go wireless with Bluetooth, or connect an Aux cable for wired listening.
- The technological advancements in the fields of earphones and headphones such as the emergence of Active Noise Cancellation that enhances the consumers' listening experience are expected to fuel the market growth over the forecast period.
- Some of the prominent players in the market through strategic partnerships have been able to further the technology and gain a stronger footprint in the market. For instance, in September 2019 sportswear manufacturer Adidas in collaboration with audio technology developer Zound Industries launched two wireless audio product ranges such as neck-band design earphones and over-the-head earphones. Such collaborations are expected to boost the market growth
Scope of the Report
Earphones and headphones through a wired and wireless network can be connected to a signal source with earphones and headphones in all shapes and sizes. This report segments the market by End-User Vertical (Avionics & Defense, Telecommunication, Automotive), and Geography.
Key Market Trends
Proliferation of Smart Phones is Expected to Drive the Market Over the Forecast Period
- The increasing penetration of smartphones is expected to drive the demand earphones and headphones market as the manufacturers provide these headphones with the devices inbuilt. In January 2019 Consumer Technology Association predicted that Unit shipments of smartphones are expected to grow one percent to 170.7 million.
- The increasing trend of making the smartphones slimmer and thinner has resulted in the manufacturers removing the headphones jack. This is propelling the consumers to adopt wireless headphones or earphones, in turn, boosting the market growth over the forecast period.
Asia Pacific is Expected to Register Fastest Growth
- Asia-pacific is expected to Register Fastest Growth over the forecast period, owing to the presence of some major players in the region such as Sony, Panasonic, Zebronics amongst others. The presence coupled with the extensive research and development activities carried out by these players has resulted in the wide-scale adoption of the earphones and headphones in the region.
- In June 2019, Sony India has predicted a sales growth of upto 15% with contribution from the sales of its premium range of TV panels and headphones (both normal and wireless) and digital imaging products.
- The penetration by foreign players in the region providing premium products that are technologically advanced, and provide better experience has fueled the demand for the premium headphones and earphones. This is expected to drive market growth over the forecast period.
- For instance, in July 2019, Beyerdynamic launched its premium pair of technologically advanced headphones Beyerdynamic Lagoon ANC Featuring Active Noise Cancellation and Wireless Connectivity.
The competitive rivalry in the earphones and headphones market remains high owing to the presence of some key vendors such as Grado, Bose, Sennheiser amongst others as the market remains consolidated with. The market players are moving towards providing technologically integrated products through extensive investments in the research and development that have enabled them to gain a competitive advantage over other players in the market. Also the companies through strategic partnerships and mergers and acquisitions the players have been able to gain greater footprint in the market.
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