Coherent Market Insights

Earphone and Headphone Market To Surpass US$ 165.22 Bn By 2030

Earphone and Headphone Market To Surpass US$ 165.22 Bn By 2030 - Coherent Market Insights

Publish In: Sep 04, 2023

According to the Global Earphone and Headphone Market Report, By Product Type (Wired (Premium, Mid, and Low) and Wireless (Premium, Mid, and Low)), By Distribution Channel (Multi-brand Store (Organized and Independent), Single Brand Store, and Online Store), By Application (Personal, Sports, Gaming, Corporate, and Media & Entertainment), By End User (SMEs and Large Enterprises) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa).

Headphones are electroacoustic transducers that convert an electrical signal into a corresponding sound. Over the years, headphones have evolved from wired headphones to wireless and from earphones to earbuds to earpieces. Headphones connect to a single source of the audio amplifier including radio, mobile phones, portable media player, CD player, video game console, or electronic musical instrument. It is either connected with a cord or wireless technology such as Bluetooth, FM radio, or DECT (Digital Enhanced Cordless Telecommunications).

Global Earphone and Headphone Market - Drivers

Rising urban population

The constantly expanding urban population worldwide, which is characterized by upper urban class and high net growth individuals have led to the increased demand for advanced headphones and earphones, especially premium ones. Furthermore, rapid migration from rural to urban areas, typically in countries, such as Indonesia and China, is expected to boost the demand for earphones and headphones in the near future.

Global Earphone and Headphone Market - Restraints

Lack of standardization

Currently, there exists a lack of standardization in technology and components used for manufacturing headphones and earphones, especially by medium- and small-size companies. Inadequate standards in the market lead to high product and price differentiation. These factors are expected to hamper the global earphone and headphone market growth in the near future.

Key Takeaways

The global earphone and headphone market is estimated at US$ 72.54 Billion in 2023 and is projected to reach US$ 165.22 Billion by 2030, exhibiting a CAGR of 12.5% over the forecast period (2023-2030).

Global Earphone and Headphone Market - Key Developments

  • In January 2023, Harman International, brand name JBL, headphone collection of Harman International has expanded its headphones collection. JBL TUNE (Bud-style headphones with an ergonomic fit) and JBL VIBE Series expands to three new true wireless style options - buds, open sticks, and closed sticks for consumers looking to get more out of their audio experience with high quality sound and convenient features.
  • In April 2023, Sony Corporation, manufacturer of electronic devices launched WH-CH520 headphones with a battery backup of 50 hours on single charge. The headphones feature Digital Sound Enhancement Engine (DSEE) function for sound upscaling.

Global Earphone and Headphone Market - Impact of COVID-19

The COVID-19 pandemic has moderately affected the market growth for headphones and earbuds. The pandemic has led government agencies to enact stringent lockdown measures and travel bans, interrupting the logistics, supply chain, and production capabilities and affecting overall sales. Additionally, the closure of retail outlets has harmed the organization ability to generate income.

 To know the latest trends and insights prevalent in this market, click on the link below:

https://www.coherentmarketinsights.com/market-insight/earphone-and-headphone-market-3799

Browse 150 market data tables* and 90 figures* on “Global Earphone and Headphone Market – Global forecast to 2030”

Key Trends and Analysis of the Global Earphone and Headphone Market:

  • Among region, North America accounted for the largest market share in the global earphone and headphone market. The demand for ergonomically designed earphones and headphones is rapidly increasing, especially in the U.S. and Canada and is expected to continue during the forecast period. Increasing adoption of sports and recreational activities in the region is another factor influencing manufacturers to introduce earphones and headphones for sports and fitness activities. Unified communication headset is gaining traction for office purposes in the U.S. and Canada. Moreover, on an average, consumers in the region own three to four pairs of headphones/earphones.
  • Europe is expected to witness significant growth over the forecast period. Premium headphones and earphones are gaining traction, especially in the U.K, France, and Germany. This is owing to rising disposable income and high fashion sense in the region. The purchase of earphones and headphones though online channels is gaining massive popularity in Europe, owing to the high penetration of mobile broadband in the region. Moreover, earphones and headphones with multi-layered air damping technology and flexible swivel design are gaining popularity, especially among audiophiles in Europe.
  • The major players operating in the global earphone and headphone market include Companies covered as a part of this study are Audio-Technica Corporation, Beats (Apple Inc.), Bose Corporation, Harman International Industries, Inc. (AKG), JVC Corporation, Philips Electronics Ltd., Plantronics Pty. Limited, Sennheiser Electronic GmbH & Co. KG, Sony Corporation and GN Netcom (Jabra).

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