Growing demand for high-quality headphones for an effective audio experience is the key factor driving market revenue growth
Market Size – USD 16.70 Billion in 2021, Market Growth – at a CAGR of 2.2%, Market Trends –Technological advancements in headphones.
The global headphones market size was USD 16.70 Billion in 2021 and is expected to register a revenue CAGR of 2.2% over the forecast period, according to a latest report by Reports and Data. Revenue growth of the market is expected to be driven by revenue growth of the music & entertainment industry and the growing gaming industry.
Many people enjoy listening to songs from genres such as pop, hip-hop, rock, electronic dance music (EDM), and others repeatedly while wearing headphones, which is one of the factors that is driving revenue growth of the market. Important music videos and audio are also contributing to revenue growth of the market by gaining more viewers and listeners around the world. The development of 3D sound system headphones, which can transport the user to a new dimension while they listen, may present a growth opportunity for the market.
The gaming industry’s continued growth is another important factor in the revenue growth of the market. Most online games requires a gamer to listen to other players and communicate with them to play, which encourages more gamers to own headphones and increases the product’s demand. Additionally, the growing number of smartphone users contributes to the market revenue growth as they can connect to the device and concentrate on listening to music or speech.
Companies profiled in the market report are Apple Inc., Bose Corporation, Samsung, Sennheiser electronic GmbH & Co. KG, Skullcandy.eu, Sony Group Corporation, Harman International Industries, Inc., Xiaomi Corporation, Motorola Mobility LLC., and Koninklijke Philips N.V.
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Some Key Highlights From the Report
The smart headphones segment revenue is expected to account for the largest share over the forecast period. Smart headphones are typically wireless and can connect to the phone, tablet, computer, or any other Bluetooth-enabled device. The features of smart headphones are numerous, but the functionality varies greatly between brands and models. Some of the most common hearable features include hands-free phone calls, touch-based controls, wireless charging cases, waterproof design, and others.
The on-ear segment revenue is expected to register a rapid growth rate over the forecast period. On-ear headphones are more popular since they can be produced using lightweight materials. In comparison to larger over-ear models, they offer a nice portable alternative. They also give the user a more open sound that is more natural. On-ear headphones fit directly against the ears, providing better sound than earbuds while being less big than over-ear headphones.
The wired segment accounted for the largest revenue share in 2021. There are many different styles and sizes of wired headphones available. These headphones are an excellent choice for people looking for basic headphones at a low price. Wired headphones are the best option for those who spend a lot of time at a desk. Office workers can connect their wired headphones and enjoy excellent sound quality when listening to music on their computer or mobile device. Wired headphones may even assist desk jockeys in completing their tasks more quickly than ever before.
The noise canceling segment revenue is expected to register a rapid growth rate over the forecast period. Noise-cancelling headphones improve listening to completely counteract the effect of distracting concurrent activity in the aviation environment, increasing the signal-to-noise ratio more than passive noise attenuating headphones. Active noise control is used by noise canceling headphones to block out lower frequency noise. Noise canceling headphones help travel, especially for those who take commuter trains or airplanes. During these times, they need to block out the outside noise so they can study, read, work, or sleep.
The market in North America is expected to register the largest revenue share in the global headphones market over the forecast period. The demand for headphones with an ergonomic design is rising rapidly and is expected to continue to support the revenue growth of the market forecast period, especially in Canada and the U.S. Moreover, growing popularity of sports and leisure activities in the region is another factor encouraging manufacturers to offer earphones and headphones for exercises and sporting activities. Investments in R&D and ongoing product innovation are priorities for companies in the region. Additionally, the presence of significant industry players, including Apple Inc. and Bose Corporation are expected to drive revenue growth of the market.
For the purpose of this report, Reports and Data has segmented the global headphones market based on type, headphone type, connectivity, feature, distribution channel, application, and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
Headphone Type Outlook (Revenue, USD Billion; 2019-2030)
Connectivity Outlook (Revenue, USD Billion; 2019-2030)
Feature Outlook (Revenue, USD Billion; 2019-2030)
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
Music & Entertainment
Regional Outlook (Revenue, USD Billion; 2019-2030)
Middle East & Africa
Key Advantages of Headphones Report:
Identification and analysis of the market size and competition
Qualitative and quantitative analysis of the market data
Data validated by industry experts after extensive primary and secondary research
Extensive regional analysis of the Headphones industry
Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
Feasibility analysis and investment analysis to enable strategic investment decisions
Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
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