Earphones and Headphones Market Share, Size, Trends, Industry Analysis Report, By Product (Headphones and Earphones); By Technology; By Price Band; By Application; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 116
- Format: PDF
- Report ID: PM1027
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global earphones and headphones market was valued at USD 64.94 billion in 2023 and is expected to grow at a CAGR of 12.3% during the forecast period. The market for earphones and headphones is expected to grow significantly in the coming years, driven by the increasing adoption of these devices during workouts. Many gym-goers waste up to 30% of their workout time chatting or dealing with distractions like tangled wires, and only 40 minutes of every hour are spent on actual exercise. Moreover, over a quarter of people spend 10 minutes or more untangling their headphones. This will likely prompt customers to prefer wireless earphones and headphones in the future.
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Manufacturers are increasingly targeting fitness-conscious customers by incorporating innovative features such as fitness monitoring and tracking in earphones and headphones. For instance, BioSport Audio in-ear headphones, powered by Intel, offer health monitoring functions that require no special chargers or batteries.
Other top brands, including Jabra, Sony, and Jaybird, collaborate with athletes and health club owners to offer fitness-based features and better ergonomics. Additionally, these earbuds are designed with IPX ratings to make them sweat and splash-proof for enhanced durability in wet and dusty environments. Such useful features and advancements in product technology are expected to drive demand for these products over the forecast period.
The Earphones & Headphones Market report details key market dynamics to help industry players align their business strategies with current and future trends. It examines technological advances and breakthroughs in the industry and their impact on the market presence. Furthermore, a detailed regional analysis of the industry at the local, national, and global levels has been provided.
The COVID-19 pandemic has increased demand for earphones and headphones due to the increased need for remote communication and entertainment. However, disruptions in supply chains and manufacturing operations and the closure of retail stores have impacted sales. Consumers have also shifted towards affordable and value-for-money products, prioritizing essential items over luxury ones. Despite these challenges, the market is expected to continue to grow in the coming years.
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Industry Dynamics
Growth Drivers
The earphones and headphones market has witnessed significant technological advancements in recent years. Manufacturers are increasingly integrating new technologies to improve the product's performance, functionality, and user experience. One of the most significant developments in recent years is the adoption of true wireless technology, which eliminates the need for wires and provides more flexibility and convenience to users.
Another trend that has gained momentum in recent years is the integration of voice assistants such as Amazon Alexa and Google Assistant into headphones and earphones. These voice assistants allow users to control their devices hands-free, access information, and perform various tasks through voice commands.
Furthermore, integrating health and fitness monitoring features has also become a significant trend in the market. Many manufacturers are incorporating sensors in their products to track biometrics such as heart rate, steps taken, and calories burned. These features are particularly useful for fitness enthusiasts and athletes who want to track their progress and improve their performance.
Report Segmentation
The market is primarily segmented based on product, technology, price band, application, and region.
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By Product |
By Technology |
By Price Band |
By Application |
By Region |
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Earphone segment dominated the market in 2022
The earphone segment dominated the market and is projected to grow during the forecast period. The market growth is likely to be positively influenced by the increasing consumer preference for high-quality audio and trendy designs. The rising use of mobile devices such as smartphones, laptops, tablets, and portable music players is expected to fuel the demand for earphones in the coming years. Additionally, the emphasis on compatibility with various portable electronic devices is expected to further drive the demand for earphones.
The wired technology segment is predicted to hold the largest revenue share in 2022
The wired technology segment will hold the largest revenue share in 2022. The headphones category has significantly transformed from primarily a home audio accessory to a high-end portable AV accessory, driven by technological advancements.
On other hand, wireless products, such as SKAA, Bluetooth, Artificial Intelligence, Augmented Reality, and Wi-Fi, has fueled the demand for the wireless products category. In particular, the wireless earbuds have contributed to the growth of the wireless segment and their popularity is expected to continue driving sales.
Fitness segment is expected to grow over the forecasted period
The fitness segment is expected to grow over the forecasted period due to wireless earphones with fitness trackers. Heart rate monitoring is expected to gain popularity in the fitness segment. Including such features enables athletes and individuals to monitor their daily workout regime, calories burnt, distance covered, and diet.
Through heart rate monitoring technology, the earphones measure the Beats Per Minute (BPM) and transmit the data to a smartphone application, which can be used to plan workouts. Leading brands such as Bose Corporation, Jabra, Sony Corporation, and Samsung Electronics Co., Ltd. have introduced earphones with these features.
Asia Pacific region had the highest demand in the market in 2022
Asia Pacific region had the highest demand for earphones and headphones, and is anticipated to grow over the forecasted period. The Indian market has recently become a battleground for wireless technology, with the emergence of local vendors like boAt that have gained popularity among consumers and competitors. boAt has launched various TWS products, including the Airdopes 631, which features Qualcomm aptX audio technology for call noise isolation at competitive prices.
The region is expected to experience a surge in market demand for earphones and headphones due to the rising disposable income of consumers, particularly in developing countries such as India, and China. Meanwhile, the North American and European regions are expected to exhibit stable growth as premium earphones and headphones continue to be adopted by consumers.
Competitive Insight
Some of the major players operating in the global earphones and headphones market include Sennheiser Electronic GmbH & Co. KG, Sony Corporation, GN Netcom, Audio-Technica Corporation, JVC Corporation, Beats Electronics (Apple, Inc.), Harman International Industries, Inc., Plantronics Pty Ltd., Philips Electronics Ltd., and Bose Corporation.
Recent Developments
- In November 2022, Zebronics launched a combination product called Zeb-Sound Bomb X1 3-in-1 which includes a truly wireless headset, Bluetooth speaker, and Torch. The earbuds offer a battery life of up to five hours per charge, come in white, blue, and black colors, and support voice assistants.
- In September 2022, Sony launched the WH-1000XM5 noise-canceling headphones in India expanding its range of wireless headphones. The WH-1000XM5 has a unique design with sliding headphones and features improved Active Noise Cancellation (ANC) with two processors and eight microphones, among other enhancements. It is the successor to the popular WH-100XM4 headphones.
Earphones and Headphones Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 72.81 billion |
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Revenue forecast in 2032 |
USD 184.61 billion |
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CAGR |
12.3% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
By Product, By Technology, By Price Band, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Sennheiser Electronic GmbH & Co. KG, Sony Corporation, GN Netcom, Audio-Technica Corporation, JVC Corporation, Beats Electronics (Apple, Inc.), Harman International Industries, Inc., Plantronics Pty Ltd., Philips Electronics Ltd., and Bose Corporation. |
Navigate through the intricacies of the 2024 Earphones & Headphones Market with precision, thanks to the comprehensive statistics on market share, size, and revenue growth rate assembled by Polaris Market Research Industry Reports. This thorough analysis not only provides a glimpse into the historical context but also extends its reach with a market forecast outlook until 2032. Immerse yourself in the richness of this industry analysis by securing a complimentary PDF download of the sample report.
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FAQ's
The earphones and headphones market report covering key segments are product, technology, price band, application, and region.
Earphones and Headphones Market Size Worth $184.61 Billion By 2032.
The global earphones and headphones market expected to grow at a CAGR of 12.3% during the forecast period.
Asia Pacific is leading the global market.
key driving factors in earphones and headphones market are adoption of true wireless technology.
