The new report by Expert Market Research titled, ‘Global Earphones and Headphones Market Share, Size, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global earphones and headphones market, assessing the market based on its segments, technology, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 36.9 billion
• Forecast CAGR (2023-2028): 20.50%
• Forecast Market Size (2028): USD 112.9 billion
Customers’ need for improved audio quality, the fast-growing music business, rising internet penetration, and evolving mobile technologies are the key factors driving the earbuds and headphones market.
Earphones and Headphones Industry Definition and Major Segments
Headphones are small speakers that can be worn over or around your ears. In traditional headphones, two ear cups are secured over your head by a band. Smaller headphones, often known as earbuds or earphones, are worn on the outside of your ear canal.
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The industry can be broadly categorised based on products into:
The industry can be divided based on technology as:
• Smart Headphones
The industry can be categorised on the basis of application as:
• Virtual Reality
• Music and Entertainment
The EMR report looks into the regional earphones and headphones markets like:
• North America
• Latin America
• the Middle East and Africa
• the Asia Pacific regions
Earphones and Headphones Market Trends
In the projected period, technological improvements such as the launch of notch-less smartphones are expected to increase demand for earbuds and headphones. The predicted rise in demand for trendy and appealing models to boost product sales will help the earbuds and headphones industry develop even more. The advent of new technologies such as Active Noise Cancellation (ANC), which helps eliminate background noise and improves sound quality, is projected to boost industry growth. Smartphones, laptops, tablets, portable music players, and other mobile gadgets are becoming more popular and accepted, which is helping the market grow.
Key Market Players
The major players in the market are Apple, Inc. (NASDAQ: AAPL), Bose Corporation, Grado Labs, Inc., Sennheiser electronic GmbH & Co. KG, JVCKENWOOD Corporation, Koninklijke Philips N.V., Logitech International SA, and Panasonic Corporation. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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