Earphone and Headphone Market

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• Coherent Market Insights
• Market Research and Business Consulting Services
• https//www.coherentmarketinsights.com/
• COVID-19 Impact Tracker

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EARPHONE AND HEADPHONE MARKET ANALYSIS

• Earphone and Headphone Market, By Application
  (Personal, Sports, Gaming, Corporate and Media
  Entertainment), By Distribution Channel
  (Multi-brand Store (Organized and Independent),
  Single Brand Store and Online Store), By Product
  Type (Wired (Premium, Mid and Low), Wireless
  (Premium, Mid and Low) and by Region (North
  America, Latin America, Europe, Asia Pacific,
  Middle East and Africa) - Size, Share, Outlook,
  and Opportunity Analysis, 2020 - 2027

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Market Overview Headphones are a small pair of
wearable loudspeakers that either worn on or
around the head over a users ears. In other
words, they are electroacoustic transducers that
convert electric signals to the corresponding
sound. 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.
Wireless headphones and earphones include
over-the-ear, behind-the-ear, in-ear, and other
wearing options. It includes Bluetooth enabled
and noise-canceling headphones. The global
Earphone and Headphone Market was accounted
for US 15,985.4 Mn in terms of value in 2019
and 378.7 Mn units in terms of volume is expected
to grow at CAGR of 7.0 for the period 2020-2027
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• Market Dynamics- Drivers
• Increasing mobile device penetration is expected
  to drive growth of the global earphone and
  headphone market during the forecast period
• Adoption of mobile devices, especially tablets
  and smartphones has increased significantly in
  countries such as India, Indonesia, Brazil, and
  China. This adoption is due to increasing
  internet penetration and rising popularity of
  online music mobile streaming in these countries.
  According to the Coherent Market Insights
  analysis, smartphone shipments worldwide have
  increased from 1.1 billion units in 2013 to 1.2
  billion units in 2014, of which 45 smartphone
  units were shipped in China in 2014. Moreover,
  rising trend of e-banking, mobile shopping, BOYD
  is boosting adoption of smartphones and tablets
  and thereby driving growth of the market in the
  near future.
• Presence of a strong distribution network is
  expected to propel the global earphone and
  headphone market growth over the forecast period
• Key companies in the market relying on strong
  distribution channels such as multi-brand
  distributors and retailers of headphones and
  earphones, in order to enhance the market
  presence and gain a competitive edge. According
  to Coherent Market Insights analysis, online
  retailing is becoming the most popular
  distribution channel in emerging markets such as
  China, Indonesia, Brazil, and Russia. In Asia,
  e-commerce sales recorded growth of 36 reaching
  US 615 Bn in 2014 as compared to that in 2013.
  Thus, these factors are expected to support the
  global earphone and headphone market growth over
  the forecast period.

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Statistics Asia Pacific held dominant position
in the global Earphone and Headphone market
in 2019, accounting for 36.8 share in terms of
value, followed by Europe and Asia Pacific,
respectively
Figure 1 Global Earphone and Headphone Market
Share (), in terms of Value, By Region, 2019
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• Market Dynamics- Restraint
• Rising threat of piracy and counterfeit products
  is expected to restrain growth of the global
  earphone and headphone market during the forecast
  period
• Piracy and counterfeiting of products is a major
  threat to the market growth. The materials used
  in the production of these earphones and
  headphones are of substandard quality with low
  quality and durability. However, pirated products
  are offered at a fraction of the price of
  original products and hence are majorly preferred
  in emerging economies such as India and China.
  Thus, the presence, of counterfeit products is
  expected to restrain growth of the global
  earphone and headphone market during the forecast
  period.
• Absence of standardization is expected to hinder
  the global earphone and headphone market growth
  over the forecast period
• Lack of standardization in technology and
  components used for manufacturing headphones and
  earphones, especially by medium- and small-size
  companies is another factor hindering the market
  growth. Furthermore, inadequate standards in the
  market lead to high product and price
  differentiation, which in turn, is expected to
  hamper the global earphone and headphone market
  growth in the near future.

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• Market Opportunities
• Merger and acquisition activities among key
  players can present major growth opportunities
• Major companies in the market are focused on
  merger and acquisition activities, in order to
  capitalize on opportunities and gain a
  competitive edge in the market. For instance, in
  2014, Apple Inc. acquired Beats Music and Beats
  Electronics, a subscription-based streaming music
  service provider, for US 3 billion. The primary
  goal of this acquisition is to expand its product
  portfolio related to earphones and headphones.
• Growing demand for wireless headphones and
  earphones can provide lucrative business
  opportunities
• Consumers are increasingly preferring wireless
  headphones and earphones, owing to sophistication
  and ease of use provided by these products. Key
  companies in the market are focused on
  manufacturing trendy and innovative wireless
  headphones and earphones to cater to rising
  demand from fashion-conscious consumers.
  Furthermore, technological advancements have led
  to the development of lightweight and compact
  earphones and headphones. Manufacturers are
  incorporating advanced features such as Wi-Fi,
  Bluetooth, and SKAA in wireless headphones and
  earphones for an increasing number of tech-savvy
  consumers.

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Figure 2 Global Earphone and Headphone Market
Value (US Mn), 2017 - 2027
The global Earphone and Headphone market was
valued at US 15,985.4 Mn in 2019 and is forecast
to reach a value of US 27,535.7 Mn by 2027 at
a CAGR of 7.0 between 2020 and 2027.
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• Market Trend
• North America Trend
• 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
  the 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 average consumers in the region own
  three to four pairs of headphones/earphones.
• Western Europe Trend
• 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.
  Purchase of earphones and headphones though
  online channels are gaining massive popularity in
  Western Europe, owing to 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 Western Europe.

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• Competitive Section
• Key companies involved in the global earphone and
  headphone market are Harman International
  Industries, Inc. (AKG), Beats (Apple Inc.),
  Plantronics Pty. Limited, Audio-Technica
  Corporation, Sennheiser Electronic GmbH Co. KG,
  Bose Corporation, Sony Corporation, Philips
  Electronics Ltd., JVC Corporation, and GN Netcom
  (Jabra).
• Key Developments
• Key players in the market are involved in product
  launches, in order to expand the product
  portfolio. For instance, in January 2020, Harman
  International Industries, Inc. introduced new AKG
  K361-BT and K371-BT professional studio
  headphones with Bluetooth connectivity.
• Major companies in the market are focused on
  product development, in order to gain a
  competitive edge in the market. For instance, in
  September 2018, Plantronics Pty. Limited
  introduced a range of five wireless headsets
  across its BackBeat Go and BackBeat FIT lines in
  Australia.

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