Earphones and Headphones Market 2018- Apple, Inc., Bose Corporation, David Clark Inc., Harman International, Inc., JVC, Koninklijke Philips N.V., Sennheiser Electronic, Skullcandy, Inc., Sony Corporation, Grado Labs
Earphones and Headphones Market size is set to exceed USD 25 billion by 2024; global shipments will grow at nearly 4% CAGR estimation, according to a new research report by Global Market Insights, Inc.
Advancements in wireless technologies such as Wi-Fi, Bluetooth, and Infrared (IR) are expected to drive the overall earphones and headphones market growth. Wireless technology development can be majorly credited to the exclusion of headphone jacks from smartphones; the technology has become more affordable and is replacing the need for physical cabling. Manufacturers are now providing wireless headsets with high audio quality, which is expected to drive the overall earphones and headphones market over the future.
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The industry is anticipated to witness growth over the forecast timespan owing to the rising demand of several applications including industrial, aviation and public safety. Surge in the sales of smart mobile devices has fueled the demand for Bluetooth enabled earphones and headphones, which is anticipated to boost the industry demand across the globe. Developments in the design & engineering to offer compact and light products along with declining earphone and headphone market price trend is propelling the industry growth.
A key challenge in the earphones and headphones market is the availability of counterfeit products. Since a few years, several product replicas have given rise to competition for core giants and creating a dent in their market share. The presence of low-cost knockoffs also poses a threat for the earphones and headphones market growth.
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Public safety applications in the earphones and headphones market have witnessed growing adoption across ambulances, aircraft rescues, fire boats and firefighting departments will, thereby driving the industry growth. The systems used in the public safety applications are completely weatherproofed and can be used on some of the most progressive rescues and fire boats.
In ambulances, the system allows hands-free communications for drivers and medics. It permits the medics to efficiently communicate over the dispatch radio by using footswitches while supporting the patients. The wired and wireless systems enable the crew to ensure continuous communications with mobile dispatchers.
Asia Pacific earphones and headphones market is anticipated to witness substantial growth owing to the growing usage of mobile devices and the expanding mobile device industry in densely populated countries such as China and India. The growing demand for the products in the region has been witnessed from the business outsourced processing industry mainly in Philippines and India, which are the largest offshoring centers globally. The growing consumer disposable incomes in the region are also anticipated to act as an impetus in generating demand.
The earphones and headphones market is still growing steadily, and is characterized by fierce competition. The industry demands modernization, with players placing additional importance on unceasing developments in enhanced noise-cancelling functionalities, sound quality, wireless technologies, with major focus on feature oriented systems which are helping in rapid growth.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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