The global premium headphones market was valued at US$ 8,486.8 million in 2017, and is projected to reach US$ 35,049.0 million by 2027, exhibiting a CAGR of 15.2% over the forecast period (2019-2027), according to Global Premium Headphones Market Report, by Price Range of DAC (Up to 1000 USD, 1000 USD to 2000 USD, and above 2000 USD), by Technology (Wired, Wireless, and Smart Headphones), by Price Range (300 to 499 USD, 500 to 1000 USD, Above 1000 USD), by Demographics-Age (Age Up to 30 Years, Age between 30 to 50 Years, Age Above 50 Years), by Demographics-Income (Up to 30,000 USD, 30,000 USD to 85,000 USD, Above 85,000 USD), by Product Type (In-ear, Over-ear, and On-ear), by Application (Consumer, Industrial, Call-Centre, Aviation, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), published by . Increasing adoption and usage of the internet and smartphones across emerging nations is creating lucrative opportunities for growth of global premium headphones market. The focus on the comfort of consumers, ease of use, advanced technology, and premium sound quality is expected to increase the sale of premium headphones. Headphones are transforming into multi-functional gadgets. Increasing demand for wireless headphones with digital noise cancellation and high quality audio is driving the global premium headphones market growth. Moreover, introduction of smart hearables that deliver outstanding sounds and superior ways to integrate IoT, augmented hearing, biometric monitoring, language translation will boost growth of this market. To know the latest trends and insights prevalent in this market, click the link below: https://www.coherentmarketinsights.com/market-insight/premium-headphones-market-2829 Key Trends and Analysis of the Global Premium Headphones Market:
- Key players in the global premium headphones market are focused on offering premium quality headphones and improving overall user experience. Major companies such as Sony Corporation and Bose Corporation have launched premium quality headphone. For instance, in August 2018, Sony Corporation unveiled WH-1000XM3, the newest addition to the 1000X series of wireless noise cancelling headphones at IFA consumer electronics show in Berlin, Germany. Brands such as Harman International Industries, Inc. has witnessed a significant growth in demand for premium headphones in 2018 with company’s revenue witnessing a year-on-year growth of 23%.
- Escalating urban population across the globe, characterized by urban upper class and high net worth individuals has led to strong demand for premium headphones. Specially, demand for wireless noise cancellation headphones is increasing among urban population.
- Increasing number of music streaming subscriptions is also expected to intensify demand for premium headphones worldwide. According to IFPI Global Music Report 2018, music streaming services witnessed a revenue growth of 41.1% from 2016 to 2017.
Key Takeaways of the Market:
- According to ’ analysis, Asia Pacific is expected to dominate market in the near future, owing to increasing disposable income in the countries such as China, Japan, and Indonesia. According to National Bureau of Statistics (NBS), China’s per capita disposable income grew by 6.5% from 2017 to 2018. Moreover, increasing use of smartphones and tablets in Asia Pacific, is also expected to offer lucrative opportunities for market players to expand their business in the region. According to Cisco’s 13th annual Visual Networking Index (VNI), there will be 829 million smartphone users in India by 2022, accounting for 60% of the population.
- According to ’ research, North America lead the global market in 2018, owing to presence of number of companies such as Beats Electronics, Bose Corporation, and Sennheiser Electronic, in the region. Moreover, due to high-speed internet connectivity, growing number of smartphone users prefer streaming their favorite music, videos, and podcasts, anytime, which is driving growth of the North America premium headphones market.
- Some of the major players operating in the global premium headphones market include Bose Corporation, Beats Electronics, 3M, Alclair Audio, Audio-Technica Ltd., Panasonic Corporation, Bowers & Wilkins Group Ltd., David Clark Inc., GN Group, Harman International, Inc., Sony Corporation, LG Corporation, Logitech International S.A., Koninklijke Philips N.V., Pioneer Corporation, Sennheiser Electronic GmbH & Co. KG, and others.