Headphones Market Overview:
Headphones are a hardware device that can be plugged into a computer, laptop, smart phone, mp3 player or other device to privately listen to audio without disturbing anyone in the vicinity. First created in 1910 by the U.S. Navy, early headphones were simple and were used as an earpiece device without complicated electronics.
Headphones Market Size:
The global earphones and headphones market is expected to grow at a CAGR of 8.21% during 2018-2023 and expected to reach 22.4 USD billion by 2023.
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Headphones Market Drivers and Restraints:
Increase in manufacturing of smart mobile and electronic listening devices is the formal driver of the market and expected to continue in the forecast period with the increase in smart devices. The affordable prices of the headphones and a technological improvement in the sound system may lead to the development of the market. On the other hand, there is also a huge demand for specialized and high-end headphones. Rising demand for new technology, increasing sophistication in earphones and headphones, growing interoperability with smartphones and tablets, and growing increased partnerships with mobile device manufacturers are likely to increase the growth of the global market. Additionally, the rise in the per capita spending, advances in the technology, availability of wide range of products and new innovations in the physical appearance are also promoting the growth of the market. However, the low-quality sound system headphones expected to face a major challenge in the forecast period.
Headphones Market Geographical Segmentation:
Geographically, North America is the dominant and rapidly growing region for the headphones market in 2018 due to the high-end users and expected to continue in the forecast period. Asia Pacific is the second largest market for the headphones due to the increased population and manufacturing rate of quality products. Europe and Middle East will witness a major growth in the forecast period due to the improvement of technological sound effects.
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Key Players of Headphones Market:
Some of the key players in the market are Apple, Audio-Technica Corp., Beyerdynamic, Creative Technology., Denon, Grado Labs, The House of Marley, Jays AB, JBL, JVCKenwood, Logitech International, Molami, Monster Cable Products, Panasonic, Parrot, Pioneer, Shure Incorporated, SMS Audio, Sol Republic, Urbanears, and Westone Laboratories.
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