Earphones & Headphones Market to hit 450 million unit shipments by 2024 | Top Players: 3M, Apple, Bose, LG, Logitech, Panasonic, HARMAN International, Sennheiser, Sony

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Public safety applications in the earphones and headphones market have witnessed growing adoption across ambulances, aircraft rescues, fire boats and firefighting departments will, thereby driving the industry growth.

Earphones and Headphones Market
China accounted for a large chunk of the APAC earphones and headphones market and is expected to continue its dominance during the forecast timeframe.

Earphones and Headphones Market shipments in 2016 were over 350 million units with revenue around USD 20 billion and is forecast to reach 450 million units by 2024 growing at 4% CAGR.

Increasing penetration of devices such as smart phones, portable music players and tablets will drive the earphones and headphones market growth. Changing consumer preferences according to fashion trends and short replacement cycle of these products due to wear and tear will surge the industry growth.

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Increasing compatibility with personal electronics and incorporation of headphones in health and fitness activities will positively impact the earphones & headphones market over the coming years. Rising disposable income coupled with changing lifestyles and increasing acceptance of these equipment in corporate sector will contribute to revenue growth.

The industry has seen a transition from being a home audio equipment to portable AV device. Product minimization, technological advancements, and high degree of compatibility with personal electronics will favor the industry demand over the forecast timeline.

Innovations such as noise cancellation technology, light weight, active noise control for improved music experience coupled with innovations in the field of connectivity like Bluetooth 4.0 and Wi-Fi will act as opportunities for wireless earphones and headphones market.

Increasing significance of smartphones and portable music players will propel growth across the wired earphones and headphones market. Wireless segment is anticipated to grow at fastest rate during the forecast period owing to the major technological changes taking place. Developments such as Bluetooth, SKAA, infrared are expected to positively impact the revenue growth for the earphones and headphones market. Companies are focusing on aesthetic appeal along with technological offerings which enrich the customer ownership and experience.

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The earphones market accounted for the majority of the 2016 shipments due to the short product replacement cycles, rising demand for consumer electronics such as smartphones, tablets, music players and others coupled with increasing disposable income in emerging nations. Companies and manufacturers are looking to offer product differentiation in terms of value-added features for sports, athletics and others which has led them to focus more on R&D and innovation.

Asia Pacific earphones and headphones market is anticipated to witness substantial growth owing to the growing usage of mobile devices and the expanding mobile device industry in densely populated countries such as China and India. The growing demand for the products in the region has been witnessed from the business outsourced processing industry mainly in Philippines and India, which are the largest offshoring centers globally.

North America earphones and headphones market accounted for more than 35% of the global revenue in 2016 owing to the demand from U.S.

Players in this sector include 3M, Apple, Bose, LG, Logitech, Panasonic, HARMAN International, Sennheiser, Sony Electronics, Audio-Technica, Bowers & Wilkins, JVC, Motorola Solutions, Pioneer Electronics, Plantronics, Sepura, Shure Incorporated, Skullcandy Inc., and VOXX International Corporation. Companies are focusing on various strategies such as mergers & acquisitions, technological advancements, R&D investments, etc.

Browse key industry insights spread across 300 pages with 296 market data tables & 31 figures & charts from the report, “Earphones And Headphones Market Size By Technology (Wired, Wireless), By Application (Consumer, Call Center, Industrial, Aviation, Construction, Public Safety), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, China, Japan, India, South Korea, Mexico, Brazil, Saudi Arabia, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/earphone-and-headphone-market

Table of Contents (ToC) of the report:

Chapter 3 Earphones & Headphones Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2012- 2024
3.3 Industry ecosystem analysis
3.3.1 Distribution channel overview
3.3.2 End-use landscape
3.4 Industry impact forces
3.4.1 Growth drivers
3.4.1.1 Technological advancements
3.4.1.2 Growing demand across several application areas
3.4.1.3 Rising purchasing power
3.4.2 Industry pitfalls and challenges
3.4.2.1     Unorganized sector
3.5 Growth potential analysis
3.6 Porter’s analysis
3.7 Average selling price trend, 2012 – 2024
3.7.1 Earphones ASP trends, by technology, 2012 - 2024
3.7.2 Headphones ASP trends, by technology, 2012 - 2024
3.8 Competitive landscape, 2016
3.9 PESTEL analysis
Browse Full TOC @ https://www.gminsights.com/toc/detail/earphone-and-headphone-market

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