Earphones And Headphones Market Growth & Trends
The global earphones and headphones market size is estimated to reach USD 163.83 billion by 2030, registering a CAGR of 12.6% over the forecast period, according to a new report by Grand View Research, Inc. The rise in earphones & headphones industry is yoked to the growth of tablets, smartphones and other multimedia devices such as IPod or MP3 players. All the aforementioned devices come with a basic earphone; however, the expanded menu of music streaming services, video apps available today, encourage customers to replace existing products with high-quality products. There exists an array of earphones & headphones in the market today, partly since we are living in a time where entertainment is portable, which can be attributed to the advent of portable multi-media devices. Recent technological advancements have resulted in the development of lightweight earphones & headphones, and wireless earbuds, which is expected to impact earphones & headphones market growth favorably.
In the coming years the wireless segment is expected to witness exponential growth. The growth can be attributed to incorporation of multiple wireless technologies such as Bluetooth, Wi-Fi, Artificial Intelligence (AI), SKAA, and Augmented Reality (AR) from manufacturers. Also, the integration of AI & AR in earphone and headphone provided manufacturers the advantage to introduce new products with various features. Several brands in the market have introduced features like noise cancellation, gesture recognition, adaptive hearing in their products, which are based on artificial intelligence & augmented reality technology. These factors are expected to positively impact the growth of the market.
Companies like Sony Corporation, GN Store Nord A/S (Jabra), Bose Corporation, and others provide a personalized application to configure the earbuds according to individual preferences of listening to music, fitness tracking, and more. For instance, in 2019, Sony Corporation introduced new earbuds WF-1000XM3, which uses an HD noise canceling QN1e chip processer, and Apple, Inc. launched second generation Airpods with an H1 chip for a similar kind of function. Noise cancelling feature is available with many earphones & headphones and uses AI to select the most effective noise cancelling mode by analyzing the ambient sound components.
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Earphones And Headphones Market Report
Earphones And Headphones Market Report Highlights
- In terms of revenue, the wireless technology segment is expected to expand at the fastest CAGR from 2023 to 2030 owing to the introduction of notch-less smartphones and true wireless earbuds
- In terms of revenue, Asia Pacific held the largest market share of over 33.78% in 2022, which is attributed to growing population, high penetration of smartphones, and rising disposable income
- In earphone & headphone industry, the earphones segment held a significant market share in 2022 in terms of revenue. This is primarily attributed to growing demand for wireless earphones in developed as well as developing regions
- The market is highly fragmented and is marked by the presence of prominent players. The companies are investing significantly in R&D to maximize product differentiation and are engaged in the launch of innovative products
- In August 2021, Bose Corporation introduced a new QuietComfort 45 headphones, which replace the QuietComfort 35 II and feature enhanced noise cancellation for immediate quiet anywhere, the latest AWARE Mode for improved voice isolation for easier conversations, and 24-hour battery life on a single charge
