Earphone and Headphone Market Detail Analysis focusing on Key Players: Apple, Bang & Olufsen, Bose Corporation, Philips, LG Electronics, Logitech, Monster Inc., Motorola Solutions, Panasonic, Plantronics, Sennheiser, Shure Incorporated, Skullcandy Inc., S

Growing consumer preference for mobiles, iPhones, and portable audio players such as MP3 music players will accelerate earphone and headphone market demand over the years to come. The flourishing demand for Wi-Fi and Bluetooth technologies, as per analysts, is also expected to add toward the development of this business in the ensuing years. Statistics claim that two major factors that may very well impel the growth of earphone and headphone industry are the rapid economic growth and the increasing per capita income across numerous geographies.

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“Earphone and headphone industry size, worth USD 20 billion in 2016, is projected to surpass USD 25 billion by 2024.” Furthermore, it is noteworthy to mention that the rapidly expanding home audio equipment sector will also contribute significantly toward earphone and headphone market revenue over the coming six years. Industry players have been undertaking efforts to generate innovative product and subsequently create a marketplace for them with out-of-the-box branding strategies, eventually giving rise to bright growth prospects for earphone and headphone market.

The major players operating in the market-

1. 3M
2. Apple
3. Bang & Olufsen
4. Bose Corporation
5. HARMAN International
6. Philips
7. LG Electronics
8. Logitech
9. Monster Inc.
10. Motorola Solutions
11. Panasonic
12. Plantronics
13. Sennheiser
14. Shure Incorporated
15. Skullcandy Inc.
16. Sony

In terms of technology, this industry encompasses wireless and wired products. The latter, as observed has been gaining popularity subject to the factor of price sensitivity. Numerous technological innovations in wireless products to improve the hearing experience coupled with rising efforts to curb noise pollution will however, drive wireless earphone and headphone industry revenue over the next few years. The launch of novel wireless products, such as Apple’s recent announcement of launching Bluetooth powered headphone has led to the widespread adoption of such products across various economies. According to a market study, wireless earphone and headphone market is slated to register an annual growth rate of more than 5% over the period of 2017-2024.

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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.

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.

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The competitive landscape of earphone and headphone industry include Ultimate Ears Company, Koninklijke Philips N.V., Sennheiser electronic GmbH & Co. KG, Bose Corporation, Shure Incorporated, Beats Electronics Company, Grado Labs, Aclair Audio, Panasonic Corporation, Pioneer Corporation, Sony Corporation, and Skullcandy Incorporation. Business players may face growth challenges on account of the industry being highly fragmented. Moreover, the availability of product substitutes at lower prices may further hamper the industry trends in the years ahead.

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