The global Earphones and Headphones Market is expected to value at USD 15.8 billion by 2025. The market is subject to witness a substantial growth due to the increasing market penetration of mobile phones and growing fad towards music players. Rapid growth in music industry and shifting trend towards personalized experience is expected to drive the market growth of earphones & headphones over the forecast period. Globally, the earphones & headphones industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
Introduction of Bluetooth headphones and increasing demand for in-ear headphones are propelling market demand for earphones and headphones over the forecast period. The recent technological advancement in the wireless communication sector coupled with development of innovative design are expected to offer lucrative growth opportunities for industry players over the next seven years. Moreover, development of live music streaming on portable devices to cater evolving music & entertainment industry is fostering industry expansion over the coming years.
Growing popularity of earphones and headphones among young population is estimated to propel market demand over the upcoming years. Increasing use of earphones and headphones during fitness activities, for relaxation, and medication is forecasted to boost market growth prospects over the next seven years. Growing purchase of smartphones, tablets and portable music players across the globe is a key market trend, driving industry growth in the past few years.
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Earphones and headphones are portable and easy to use, thus positively affecting market growth in the recent years. Growing consumer demand for increased fidelity and style is driving more customers towards earphones & headphones market. In addition, introduction of quality audio and hassle-free wired devices is driving market sales in the past few years.
The earphones and headphones industry is broadly categorized into major segments based on the end-user application type such as fitness & sports, gaming, virtual reality, and music & entertainment. The music & entertainment segment is growing rapidly in the earphones and headphones market with substantial revenue generation in the last few years. Growing popularity of earphones and headphones in the music & entertainment segment is attributed to the increasing consumer base and shifting trend towards music as a fad.
The earphones and headphones industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in music & entertainment sector, shifting trend towards on-the-go lifestyle, rise in the consumer base, increase in number of research & development activities in the region, and existence of well-established manufacturing infrastructure.
Asia-Pacific region is estimated to hold major share in the earphones & headphones market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with decline in the cost of earphone, higher market penetration of mobile phones & music players, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the earphones & headphones industry are Sennheiser, Inc., Sony Corp., Shure, Inc., JVC Co., Skullcandy, Inc., Harman International Industries, Inc.,, Philips N.V., and Bose Co., and Beats Electronics, Inc.
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