The
earphone and headphone market caters to various product types including in-ear,
on-ear and over-ear earphones and headphones that provide portability as well
as immersive listening experience to users. These audio devices enhance audio
quality by blocking outside noise and come equipped with built-in microphones,
volume buttons and other controls for enhanced user experience. The growing
popularity of wireless and Bluetooth enabled earphones and headphones is
majorly fueling the market growth.
The Global Earphone and Headphone Market is estimated to be valued at US$ 91.81
Bn in 2024 and is expected to exhibit a CAGR of 12.% over the forecast period
2024 To 2031. Advances in audio technologies coupled with increasing demand for
high quality sound for music, movies and gaming is propelling the demand for these
audio devices globally. Earphones and headphones facilitate untethered
listening and are increasingly becoming an integral part of modern lifestyle.
The wide availability of inexpensive Bluetooth earphones further aids mass
adoption of mobile and wireless audio devices.
Key Takeaways
Key players operating in the Earphone and Headphone market are Audio-Technica
Corporation, Beats (Apple Inc.), Bose Corporation, Harman International
Industries, Inc. (AKG), JVC Corporation, Philips Electronics Ltd., Plantronics
Pty. Limited, Sennheiser Electronic GmbH and Co. KG, Sony Corporation and GN
Netcom (Jabra). Rapid adoption of wireless earphones and headphones along with
lifestyle changes favoring portable audio devices is fueling significant demand
in the global market. Growing availability of low-cost wireless devices further
aids mass adoption. Major manufacturers are focusing on strategic partnerships
and expansion into developing regions to leverage growth opportunities.
Market Key Trends
One of the major trends gaining traction in the Earphone
and Headphone Market Growth is the growing popularity of truly wireless
earphones or earbuds which do not require any wired connection. Major players
like Apple Airpods and Samsung Galaxy buds have contributed significantly to
mass adoption of wireless earbuds. Truly wireless earphones are increasingly
becoming mainstream due to their convenience, small size and freedom of
untethered listening. Maturing wireless audio technologies are improving sound
quality of wireless earphones at affordable prices further propelling this
trend.
Porter’s
Analysis
Threat of new entrants: New players find it difficult to enter this market as
it requires huge investment and established brand loyalty. Bargaining power of
buyers: Individual consumers have high bargaining power due to availability of
substitutes however for bulk orders organizations have limited bargaining
power. Bargaining power of suppliers: A few main players dominate the supply
chain so suppliers have lesser bargaining power. Threat of new substitutes:
Emergence of bone conduction headphones is a threat however fidelity and noise
isolation is better with conventional headphones. Competitive rivalry: Intense
competition exists among key players to offer innovative designs, styles and
enhanced audio quality.
Geographical Regions
The Asia Pacific region accounts for over 35% value share in the earphone and
headphone market led by China, India and Japan. Availability of inexpensive
products coupled with rising disposable incomes in developing nations has
boosted the regional market.
North America is the fastest growing geographical region for earphone and
headphone market driven by increasing usage of digital devices for content
consumption and active lifestyle of population demanding wireless audio devices
for fitness activities. Continuous technology upgrades and premium product
offerings have augmented demand.
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And Headphone Market
About Author:
Ravina Pandya, Content Writer, has a strong foothold
in the market research industry. She specializes in writing well-researched
articles from different industries, including food and beverages, information
and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
