April 21, 2022 (GLOBE NEWSWIRE), New York, USA- Market overview:
According to a comprehensive research report by Market Research Future (MRFR), “the earphone and headphone market“ Information by type, application, and region – The 2030-inch market has reached US $ 62.24 billion and is projected to grow at a compound annual growth rate of 11.20% by 2030.
The earphone and headphone market continues to grow, primarily due to the immense popularity of compact audio devices. Wired / wireless earphone and headphone technology is ideal for wearable and mobile applications such as smartphones, smartwatches and portable audio devices. With cost-competitive and user-friendly features, these devices are aware of growing demand around the world.
In addition, the market is driven primarily by the increase in smartphone sales. The market size is expanding due to the great penetration of smart audio devices and technological advances. In addition, increased disposable income will give momentum to market value, leading to increased spending on high-end electronic products, primarily smartphones and wearable audio and video devices.
The major players in the targeted earphone and headphone market are:
- Bose Corporation
- Bowers & Wilkins
- Samsung group
- Koninklijke Philips NV
- Xiaomi Corporation
- Zound Industries (Marshall)
- Motorola Inc.
- Sennheiser electronic GmbH & Co.
- Pakushve Marketing LLC (BOAT)
- Skullcandy Inc.
- Sony Corporation of America
- Harman International Industries (JBL)
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The main driving force behind the earphone and headphone market is a major advance in audio technology such as noise canceling and Bluetooth support. Increasing integration of new technologies into headphones and earphones and increased ownership of mobile phones, tablets and mp3 players are driving the market significantly.
The size of the earphone and headphone market is also boosted by the growing number of professional gamers due to gaming technology and the surge in the market. Emerging countries around the world are offering untapped opportunities to use earphones and headphones. The Asia Pacific region has become a global manufacturing hub for audio devices, with many prominent brands establishing mass production facilities.
In addition, Singapore, Indonesia and Australia show great potential in the earphone and headphone market due to the significant development of wireless technology. In these countries, the number of earphone and headphone manufacturing facilities is increasing, and competition among manufacturers is intensifying.
See the detailed market research report (page 123) on the earphones and headphones market.
India and China are the fastest growing economies in the Asia-Pacific region, where the telecommunications industry is growing significantly. In addition, the electronics industry in these countries has witnessed several revolutionary changes over the last decade with respect to applications in the consumer electronics, IT and telecommunications industries, and other application areas. All these factors provide a cumulatively significant opportunity for players in the earphone and headphone market.
Wireless technology, on the other hand, is a bit more expensive than wired, which often raises the overall market price of wireless earphones / headphones. Therefore, the high cost of wireless headphones and earphones is seen as a major driver of market growth.
Also, the price of fluctuating components poses significant challenges to players in the market. There are some small components used in wireless / wired headphones and earphones. The fluctuating price and the output gap of various key components pose a major challenge for players in the earphone and headphone market.
Well-known manufacturers active in the market, such as Apple, Sony, and Samsung, are constantly investing to innovate in earphones and headphones, ultimately intensifying competition in the market. Their in-depth efforts are expected to further boost market growth during the valuation period.
Segmentation of the market under investigation:
The earphone and headphone market is divided based on type, application, and region. The type segment is further subdivided into wired headphones and earphones, and wireless headphones and earphones. Application segments are subsegmented into fitness / sports, games and virtual reality, media and entertainment, enterprises and more. The regional segment consists of the Americas, Asia Pacific, Middle East and Africa, Europe, and other countries.
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North America dominates global earphone and headphone market
North America is expected to remain a very attractive market for earphones and headphones during the evaluation period. Significant advances in audio technology and R & D investment to drive innovation will drive market growth. In addition, the strong presence of global players constantly reinvents and rebrands existing products to enhance quality and design, which has a positive impact on the growth of the earphone and headphone market. The United States is the largest market for earphones and headphones in North America.
Very competitive, the earphone and headphone market appears to be fragmented due to the presence of some well-established players. Mergers and acquisitions, innovations and expansions are still major trends for key players as these strategic moves support their growth and expansion plans.
Players in the industry are leveraging the emerging consumer electronics market by investing heavily in R & D to develop superior technology and product portfolios. For example, on January 10, 2022, Swedish audio brand Urbanista announced its entry into the Indian market, eventually gaining approximately 5% of the market share in the premium headphones and True Wireless Stereo (TWS) segments. I am aiming for that. 2022.
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As part of its retail strategy, the company focuses on online and offline channels and has an ambitious plan to sell its products in 500 stores, including Tier II cities, by March 2022. Urbanista has a strong presence in more than 90 countries and over 30,000 global stores around the world. In addition, we aim to capture part of the headphone and earphone market, which is currently a rapidly growing segment after the pandemic.
Urbanista products are developed by combining high quality audio engineering with Swedish design, inspired by the urban life of popular cities around the world. India is the mobile capital of the world and the brand believes its products resonate well with the Indian people. Introducing a variety of products in India, including Urbanista Los Angeles, the world’s first and only solar-powered headphones, and Urbanista Lisbon, the smallest TWS earphones in history.
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