The demand in the region is lead by the countries such as China, India, South Korea, and Japan. Latin America is also expected to experience significant growth of earphones and headphones market driven by growing number of portable devices in the region.
Portable music systems such as smartphones, tablets, and portable music players are experiencing significant growth in demand and this in turn is driving the growth of earphones and headphones market. The global market for headphones and earphones is anticipated to experience considerable growth over the coming years.
In the recent years, the technological advancements in headphones have led to minimization of the overall weight of the headphone. Additionally, sophisticated noise cancellation features in earphones and headphones have been aiding in the rising popularity of these devices.
Major technological developments in wireless such as Wi-Fi, Infrared (IR), SKAA and Bluetooth are expected to continue driving the growth of earphone and headphones market.
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Shifting consumer trends toward the adoption of headphones/earphones during working out is also giving a push to the growth of this market. Moreover, companies are targeting youth through introduction of new and innovative features.
The increasing availability of low cost counterfeit products poses a significant challenge to the growth of earphones and headphones market. In the Asian countries such as China, India, Taiwan and Indonesia, there is a significantly large unorganized market for earphones and headphones.
This unorganized market often sells counterfeit and low standard products at a significantly lower cost poses a serious challenge to the organized players in terms of revenue and demand. Addition of features such as voice recognition represents a significant future growth opportunity in this market.
Based on product types, the headphone and earphone market includes wireless speakers, wireless headphones, and microphones. The headphones can be further categorized into in-ear buds, gaming headphones, over-ear headphones, wireless headphones, and clip-on headphones.
North America has been the leading market for earphones and headphones owing to significantly large penetration of portable devices. Further, the region also has significant demand for high end earphone and headphone products leading to higher revenue generation.
Asia Pacific is anticipated to be the fastest growing market for earphones/headphones owing to boom in the portable/mobile devices market in the recent years. The region is experiencing rapid growth in demand for smartphones which is driven by increase in disposable income of a significantly large population.
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Key players in this market include Sony Corp., Sennheiser Electronic GmbH & Co. KG, Beats Electronics LLC, Shure, Inc., Bose Corporation, Grado Labs, Creative Technology Ltd., Koninklijke Philips N.V., Klipsch Audio Technologies, Skullcandy, Plantronics, Inc., Pioneer Corp., Audio-Technica Corporation, Apple, Inc., Koss Corp., AKG Acoustics, and Panasonic Corp., among others.
The market for earphones and headphones is highly fragmented and competitive. The market is experiencing continued emergence of newer brands across various price categories.
The players in this market are continuously investing in research and development efforts, in order to increase product differentiation and improve their market share. Further, in addition to selling their products through retail outlets owned by company, the players in this market are increasingly focusing on enhancing their distribution channels through multiple partnerships.
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