Future Market Insights has announced the addition of the “Earphone and Headphone Market: Global Industry Analysis and Opportunity Assessment, 2015–2025” report to their offering.
Valley Cottage, NY -- (SBWIRE) -- 03/29/2017 -- Introduction
Portable music systems, such as smartphones, tablets and portable music players, are witnessing significant growth in demand and this, in turn, is driving the growth of the earphone and headphone market currently. The global market for earphones and headphones is anticipated to witness considerable growth in the coming years. In recent years, technological advancements in headphones have led to the minimisationof the overall weight of headphones. Additionally, sophisticated noise cancellation features in earphones and headphones have been adding to the rising popularity of these devices. Major technological developments in wireless technologies, such as Wi-Fi, Infrared (IR), SKAA and Bluetooth, are expected to continue to fuel the growth of the earphone and headphone market further.
Market Value and Forecast
The global earphone and headphone market value and volume is anticipated to expand at a single-digit CAGR during the forecast period. Growth of the global earphone and headphone market is mainly driven by factors such as increasing disposable income, expanding urban population, escalating mobile device penetration, availability of a strong distribution network and rising number of streaming services. Currently, the major trends witnessed in the global earphone and headphone market are: surge in acquisitions and mergers, technological advancements and diversification of product portfolio by major players.
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Segmentation, by Product Type
The global earphone and headphone market is segmented, based on product type, into wired and wireless earphones and headphones. Of these segments, the wired earphone and headphone segment dominated the market in terms of both value and volume and accounted for over 65% share of the global earphone and headphone market in 2014, while the wireless earphone and headphone segment is expected to expand at the highest CAGR during the forecast period.
Segmentation, by Price
In this report, the earphone and headphone market is segmented on the basis of price into premium, mid and low price segments. Among these segments, the premium price segment dominated the global earphone and headphone market in terms of revenue contribution in 2014, followed by the mid-price segment.
Segmentation, by Distribution Channel
By distribution channel, the market is segmented into multi-brand store (includes organized and independent stores), single/mono brand store and online store. Among the aforementioned segments, the multi-brand store segment dominated the market in terms of both value and volume contribution in 2014.
Segmentation, by Application
By application, the global earphone and headphone market is segmented into media and entertainment, sports, gaming, personal and corporate segments. Among these segments, the personal segment dominated the overall market in terms of value with 37.7% share in 2014 and is expected to witness an increase of 580 BPS in its market share by the end of 2025 over 2014.
On the basis of geography, the global earphones and headphones market is segmented into seven major regions – North America, Western Europe, Asia-Pacific Excluding Japan (APEJ), Japan, Eastern Europe, Latin America and the Middle East & Africa (MEA). Of all these regions, APEJ dominated the market in terms of both value and volume, accounting for over 40% share of the overall earphone and headphone market, in 2014. In terms of value, North America ranked second with more than 18% market share in 2014, followed by Western Europe. In addition, Asia-Pacific is anticipated to become the fastest growing region in the earphones and headphones market.
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Some of the key players identified in global earphone and headphone market are Beats (Apple Inc.), Plantronics Pty Ltd., Sennheiser Electronic GmbH & Co. KG, Sony Corporation, GN Netcom A/S(Jabra), HarmanInternational Industries, Inc. (AKG), Bose Corporation, JVC Corporation, Philips Electronics Ltd. and Audio-Technica Corporation. Major players in the market follow the strategy of introducing innovative and cost effective earphones and headphones to buy out competition. In addition, mobile phone and existing headphone manufacturers are getting increasingly inclined towards diversifying into the earphones and headphones in order to enhance their presence in the market.