Earphones and Headphones Market Demand Will be Accelerated by Growing Consumer Preference for Mobiles, iPhone, and Portable Audio Players in Coming Years | Leading Players are Apple, Beats Electronics, Shure, Bose, Sennheiser Electronics

Growing consumer preference for mobiles, iPhones, and portable audio players such as MP3 music players will accelerate Earphones and Headphones 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.

As per Global Market Insights, Inc., “Earphone and headphone Market , 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 Earphones and Headphones Market revenue over the coming six years.

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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 Earphones and Headphones Market is slated to register an annual growth rate of more than 5% over the period of 2017-2024.

The industry has seen a transition from being a home audio equipment to portable AV device. Product minimization, technological advancements, and high degree of compatibility with personal electronics will favor the Earphones and Headphones Market demand over the forecast timeline.

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Innovations such as noise cancellation technology, light weight, active noise control for improved music experience coupled with innovations in the field of connectivity like Bluetooth 4.0 and Wi-Fi will act as opportunities for wireless Earphones and Headphones Market.

The earphones market accounted for the majority of the 2016 shipments due to the short product replacement cycles, rising demand for consumer electronics such as smartphones, tablets, music players and others coupled with increasing disposable income in emerging nations. Companies and manufacturers are looking to offer product differentiation in terms of value added features for sports, athletics and others which has led them to focus more on R&D and innovation.

North America Earphones and Headphones Market accounted for more than 35% of the global revenue in 2016 owing to the demand from U.S. China accounted for a large chunk of the APAC Earphones and Headphones Market and is expected to continue its dominance during the forecast timeframe.

Players in this sector include Apple Inc., Beats Electronics, Shure, Bose Corporation, Sennheiser Electronics, etc. Companies are focusing on various strategies such as mergers & acquisitions, technological advancements, R&D investments, etc.

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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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This release was published on openPR.