Global Earphones and Headphones Market Size to grow USD 126 Billion by 2030 | CAGR of 20%Category: Electronics, ICT & Media
Global Earphones and Headphones Market worth $126 billion by 2030
According to a research report published by Spherical Insights & Consulting, the Global Earphones and Headphones Market Size to grow from USD 34 billion in 2021 to USD 126 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 20% during the forecast period. The primary factors propelling the global earphones and headphones market are the rising customer expectations for increased audio quality, the expansion of the music business, internet penetration, and mobile technologies.
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Browse key industry insights spread across 199 pages with 119 market data tables and figures & charts from the report “Global Earphones and Headphones Market Size, Share, and COVID-19 Impact Analysis, By Technology (Wired, Wireless) By Application (Gaming, Music & Entertainment, Virtual Reality, Others) By Product (Earphones, Headphones) By Price (Less than USD 500, Between USD 50 to USD 100, Above USD 100) By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) Analysis and Forecast 2021 – 2030“ in detail along with the table of contents. https://www.sphericalinsights.com/reports/earphones-and-headphones-market
With the addition of the Active Noise Cancellation technology, the earphones and headphones are electronic audio devices that help to improve the listening experience. These devices, which turn electrical data into sound, are essentially a pair of tiny loudspeakers and electroacoustic transducers. There are a variety of comfortable and easy-to-wear headphones and earphones available. It is widely accepted in a variety of industries, including gambling, telecommunications, and the music and entertainment sectors. In addition, consumer goods like digital cameras, portable music players, and gaming consoles have significantly aided the growth of the electronic products sector. Recent advancements in personal computers, including laptops and desktops, have significantly increased the growth of the global earphone and headphone market, which has led to the introduction of new processors and other system components. Since customers have expressed interest in improving learning experiences, the earphones and headphones market has experienced a quick growth. The development of notch-free smartphones and technological advancements like active noise cancellation techniques are the main reasons propelling the growth of the worldwide earphones and headphones market. Other factors that will favourably affect the growth of the worldwide earbuds and headphones market include smartphones, the increasing popularity of smart electronic wearables, and uninterruptible internet connectivity. In addition, the expansion of the earphones and headphones market is fueling the introduction of new cutting-edge technology in the gaming, electronics, and music industries. Additionally, industry expansion is being fueled by the creation and incorporation of navigation and infotainment capabilities like the Global Positioning System (GPS). The market is further being driven by the construction of 5G network infrastructure and high-speed internet access.
Wired segment is dominating the market over the forecast period.
On the basis of type, the global earphones and headphones market is segmented into wireless and wired. Due to its popularity with customers, the wired category has been dominating the market over the projected duration and is expected to continue to do so over the projection era. In reality, thanks to recent technological advancements and rapid urbanisation, the Asia Pacific area has evolved into a global hub for diodes, transformers, and PCBs.
Music & Entertainment and Gaming holds the largest market during the forecast period.
Based on application, the global earphones and headphones market is segmented into virtual reality, music & entertainment, gaming, and fitness/ sports. Due to their rising consumer popularity, gaming and music & entertainment are two of these that are most important to the global earphones and headphones market and will continue to rule during the projection period. South Asian countries have experienced rapid expansion in information technology and telecommunication in recent years, attracting the interest of multinational corporations from Europe and the United States.
Earphones segment dominated the market with the largest market share of 52%.
On the basis of product, the global earphones and headphones market is segmented into earphones and headphones. With a market share of 52% among them, the earphones segment is the market leader. This is a result of the ease of listening to music, its small size, and its affordable price. The earbuds are the best option for sports and fitness fans due to their lightweight design and portability. Additionally, earphones offer effective passive noise isolation, which translates into a more immersive music listening experience for the user and is predicted to fuel market expansion.
The USD 50 to USD 100 segment dominates the market with the market share of 39%.
Based on the price, the global earphones and headphones market is segmented into Less than USD 500, Between USD 50 to USD 100, Above USD 100. The segment with the biggest market share of 39% among them is the USD 50 to USD 100 segment. This is a result of technology advancements that are being driven by the need for high fidelity and style among consumers. Aside from this, a quick product replacement cycle has a beneficial effect on the uptake of headphones and earphones. Additionally, the use of earbuds and headphones priced between $50 and $100 is being driven by the growing desire for audio experiences with better audio quality in combination with economic volatility associated to these products.
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Asia Pacific dominates the market with the largest market share of 29%.
Due to the widespread use of smartphones and rising levels of disposable income in the area, Asia Pacific now holds the greatest market share of 29%. In addition, a number of important corporate players have begun to invest heavily in China as a result of the introduction of low-cost technology and the availability of cheap labour in this area. However, the increasing availability of knockoff goods produced and designed in India has spurred some major firms to set up their manufacturing facilities in the area, which has led to market expansion.
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