Growth Opportunities in the Earphones and Headphones Market | Leading Players are Ultimate Ears Company, Koninklijke Philips N.V., Sennheiser electronic GmbH & Co. KG, Bose, Beats Electronics Company, Panasonic Corporation, Pioneer, Sony, and Skullcandy

Earphones and Headphones Market is forecast to be over USD 25 billion and shipments are set to exceed 450 million units by 2024.

Increasing penetration of devices such as smart phones, portable music players and tablets will drive the industry growth. Changing consumer preferences according to fashion trends and short replacement cycle of these products due to wear and tear will surge the earphones and headphones market growth.

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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Increasing compatibility with personal electronics and incorporation of headphones in health and fitness activities will positively impact the earphones & headphones market over the coming years. Rising disposable income coupled with changing lifestyles and increasing acceptance of these equipment in corporate sector will contribute to revenue growth.

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 industry demand over the forecast timeline.

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.

Increasing significance of smartphones and portable music players will propel growth across the wired earphones and headphones market. Wireless segment is anticipated to grow at fastest rate during the forecast period owing to the major technological changes taking place. Developments such as Bluetooth, SKAA, infrared are expected to positively impact the revenue growth for the earphones and headphones market. Companies are focusing on aesthetic appeal along with technological offerings which enrich the customer ownership and experience.

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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.

The competitive landscape of earphones and headphones market 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.

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Moreover, the availability of product substitutes at lower prices may further hamper the industry trends in the years ahead. However, strategies adopted by the market players such as high R&D investments, mergers & acquisitions, improved customer services, technological inventions, and expansion of the distribution channels are likely to combat the restraints imposed on earphone and headphone market.

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