Earphone And Headphone Market Witness a Spike in Growth Pace Recent Improvements in Pricing Models: FMI

 The global earphone and headphone market is estimated at US$ 22.3 Bn in 2022, and is projected to close in on a valuation of US$ 35.2 Bn by 2028, expanding at a CAGR of 7.9% over the 2022 to 2028 assessment period.

Earphone and Headphone Market – Key Research Findings

1. The global earphone and headphone market was valued at approximately US$ 16,388 Mn in 2018
2. The earphone and headphone market is projected to expand at a CAGR of approximately 8% during the forecast period (2018-2028)
3. The continuous launches of advanced earphones and headphones, which includes waterproof earphones, are among factors that are expected to support the growth of the global earphone and headphone market during the forecast period
4. Europe is a prominent regional market for earphones and headphones as of 2018
   • Growing trend of mobile shopping, e-banking, and Bring Your Own Device (BYOD) is also driving the demand for smartphones and tablets across the globe, which is, in turn, boosting the growth of the earphone and headphone market in North America.
5. South Asia holds a high growth potential for the earphone and headphone market
   • South Asian countries, such as India and Thailand, are witnessing an increase in the penetration of the internet and the adoption of smartphones and mobile phones. The increasing GDP and per capita income of the respective countries is expected to boost the music market as a whole, thereby pushing the prospects of earphone and headphone sales.

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Developing Countries Turning into ‘Largest Sales Hub’

The sales of mobile phones and smartphones have grown significantly across the world since the past few years, especially in developing countries such as India, China, Brazil, and Mexico. Moreover, the increasing trend of mobile shopping, E-banking, and bringing your own device (BYOD) is driving the global demand for smartphones and tablets, which is, in turn, boosting the technologically advanced devices, such as Wi-Fi enabled devices, in the earphones and headphones market. The increasing migration of the rural population to cities, especially across developing countries such as India, China, Brazil, Mexico, and Indonesia, has boosted the adoption of low- or medium-price earphones & headphones. Europe will however remain the leading market for earphone and headphone in the near future, according to FMI’s findings.

In the past decade, there was an upsurge in urbanisation, which resulted in an increase in the disposable income of the population that migrated to urban areas. Growth in the disposable income of the people has boosted the adoption of technologically advanced products worldwide, which include smart devices, smartphones, tablets, and advanced wireless earphones. This trend has been majorly observed in developing countries, such as India, China, Brazil, Mexico, and Indonesia. This has resulted in an increase in the adoption of earphones and headphones in these countries.

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Strengthening the distribution channel and expanding advertising platforms for earphones and headphones is also contributing to the development of the global market for earphones and headphones. The music industry as a whole is estimated to contribute to the growing GDP and per capita revenue of various nations. Thus, continuous growth in the music industry and the music streaming market is boosting the adoption of accessories for music systems, which include earphones, headphones, and intelligent speakers.

Companies Shifting Focal Point to Multi-Brand Distribution & E-commerce

A significant number of companies in the earphone and headphone market depend mainly upon powerful sales channels, such as multi-brand distributors and the retailers of headphones & earphones, to be able to offer better customer service and achieve a competitive edge in the earphone and headphone industry. In addition to partnerships with distributors, the providers of earphones and headphones collaborate with numerous E-commerce companies, such as Alibaba and Amazon, due to the growing E-commerce industry, especially in nations such as the U.S., China, Brazil, and India. Strengthening the distribution channel and expanding marketing platforms for various items also contributes to the development of the global market for earphones and headphones.

Some of the key players in the global earphone and headphone market research report include Plantronics Pty Ltd., Sennheiser Electronic GmbH & Co. KG, JVC Corporation, GN Netcom (Jabra), Sony Corporation, Harman International Industries, Philips Electronics Ltd., Bose Corporation, Beats (Apple Inc.), and Audio-Technical Corporation. These companies in the earphone and headphone market are continually focusing on providing leading products and following the strategy of entering into collaborations and partnerships with other providers to offer enhanced earphones & headphones and to reach new growth markets during the forecast period.

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The global earphone and headphone market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

By Product Type

• Ear buds
• In-ear
• On-ear
• Over-ear

By Technology

• Wireless
• Wired

By Headset Type

• ANC
• Non-ANC

By Application

• Personal Use
• Professional
  • Corporate Offices
  • Media & Entertainment
• Sports
• Gaming

Distribution Channel

• Distributor & Value Added Resellers
• Retail Stores
  • Multi-brand
  • Exclusive
  • E-commerce

By Price Range

• Low Price
• Medium Price
• Premium Price

Region

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East &Africa