The global earphones and headphones market is expected to reach USD 15.8 billion by 2025, according to a new research conducted by Grand View Research, Inc. The increasing adoption of earphones/headphones during a workout is primarily expected to drive the earphones & headphones market growth over the coming years. Customers use headphones at their workplaces to enjoy music and other audio content on mobile devices. Further, availability of advanced features and the surge in replacement market is anticipated to fuel their demand over the next seven years.
The music & entertainment industry has flourished, significantly, over the past years. Live music streaming on portable devices, including smartphones and music players, has completely evolved the economy of the global music industry. The music & entertainment industry has marked its presence with technological advancements and has catered the global accessory market, such as earphones and headphones market, to witness positive growth.
Further Key Findings from the Study Suggest:
• The in-ear segment accounted for a significant market share in 2015 and is expected to exhibit a healthy growth over the forecast period, owing to the rising popularity and adoption of smartphones and tablets.
• Technological advancements, leading to the miniaturization of earphones & headphones in terms of weight and size, have made these devices more compatible with smartphones and tablets.
• The over-ear segment is also poised for a considerable growth over the next eight years. This is attributed to the technological developments resulting in the incorporation of several features such as SKAA, Wi-Fi, Bluetooth, and infrared in the wireless headphones.
• The virtual reality application segment is anticipated to witness an exponential growth over the next eight years on account of the exploding number of applications particularly led by the video game industry.
• The wired technology segment is expected to exhibit a high growth over the next eight years, which is majorly attributed to the growing adoption of smartphones and tablets.
• Electronic portable devices, including tablets, smartphones, and portable music players, are comparatively more compatible with wired products than the wireless ones.
• North America captured a substantial portion of the earphones and headphones market, which is primarily attributed to the high market penetration and technological advancements. Additionally, the presence of some big companies, such as Beats, Bose, and Skullcandy, has revolutionized the regional market with the availability of high-end products.
• Prominent industry participants, including Apple Inc., JVC, Sony Corp., Skullcandy, Bose Corp., Sennheiser Electronic, and Shure Inc., emphasize on heavy R&D investment to maximize product differentiation and improve product quality as well as reliability. The industry participants also focus on collaborations, acquisitions, and mergers as they help in improving joint sales and marketing efforts.