Earphones And Headphones Market growing popularity and adoption of smartphones, tablets, portable music players

The global earphones and headphones market is expected to reach USD 17.55 billion by 2022, according to a new report by Grand View Research, Inc. Surge in consumer demand for technologically advanced products is expected to fuel industry growth over the next few years. Increasing adoption of several smart devices such as tablets, smartphones along with portable music players may also positively impact earphones market demand.

 
Earphones and headphones exhibit consumer high adoption rate suring workout and may also escalate demand over the next seven years. Factors such a rising consumer disposable income, products with enhanced noise cancellation capabilites may also propel headphones market demand over the forecast period. Further, the industry is poised for high growth owing to short replacement cycle, which may be attributed to evolving consumer needs, functionality and damage or loss.

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Further key findings from the study suggest:

• Global demand is expected to reach 455 million units by 2022, growing at a CAGR of 4.6% over the forecast period.
• The in-ear segment accounted for significant volume share in 2014, and is expected to exhibit high growth over the forecast period. This may be attributed to smartphone proliferation. Technological advancements have resulted in to development of light weight and compact products, thereby making them more compatible with devices such as smartphones and tablets.
• The over-ear segment is also poised for significant growth over the next six years. This can be attributed to technological developments resulting in incorporation of several features such as Wi-Fi, Bluetooth, SKAA and infrared in the wireless headphones segment.
• Wired technology segment exhibits high growth in the global earphones market, which can be primarily attributed to increasing adoption of consumer electronic devices such as portable music players and mobile phones.
• North America captured significant volume share of over 30% in 2014, which may be attributed to high market penetration and technological advancements. In addition, presence of some key industry players such as Beats, Bose and Skullcandy has revolutionized the regional market with the availability of high-end products.
• Key players such as Apple Inc., Bose Corp., JVC, Sony Corp., Sennheiser electronic, Skullcandy and Shure Inc. focus mainly on R&D investments in order to develop new and differentiated products that exhibit quality as well as reliability. Industry participants also emphasize on collaborations, acquisitions and mergers as it helps in joint sales and improving marketing efforts.

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