Earphones & Headphones Market Product Estimates & Strategy Framework To 2022 - 2030

The global earphones and headphones market size is anticipated to reach USD 126.7 billion by 2027, expanding at a CAGR of 20.3% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Rising adoption of smartphones, tablets, and other handheld electronic devices, coupled with increasing popularity of online music streaming, is anticipated to power the market growth over the forecast period. Rising consumer inclination towards technology and trendy products is expected to pave the way for innovative designs and advanced features. For example, the wireless earphones market has witnessed a surge in sales with the launch of true wireless earbuds. Additionally, rising consumer inclination towards noise distortion features and technological advancements pertaining to noise cancellation is expected to fuel the market growth.

Earphones & Headphones Market Segmentation

Grand View Research has segmented the global earphones and headphones market on the basis of product, price, technology, application, and region:

Based on the Product Insights, the market is segmented into earphones and headphones.

• The lightweight design and portability of earphones make them a preferred choice for fitness and sports enthusiasts.
• The large-sized ear cups allow the manufacturers to equip the headphones with dynamic and electrostatic sound drivers, resulting in enhanced and clear sound quality.

Based on the Price Insights, the market is segmented into Less than 50 USD, Between 50 to 100 USD and Above 100 USD.

• In terms of revenue, the 50 to 100 USD segment dominated the market with a share of 39.2% in 2019.
• Rising demand for enhanced sound quality experience, coupled with economic volatility associated with these devices, is driving the adoption of 50 to 100 USD earphones and headphones.
• The less than 50 USD segment is anticipated to witness significant growth in terms of volume over the forecast period on account of rising adoption, particularly in the emerging economies, including India, China, Brazil, and the Middle East.

Based on the Technology Insights, the market is segmented into Wired and Wireless.

• Wireless earbuds were first introduced by a company named Bragi, based in Munich, Germany. Meanwhile, the launch of AirPods from Apple, Inc. in 2016, shifted the momentum entirely from wired products to wireless products.
• wired products are expected to maintain their market share in future owing to the low price, zero latency, and better audio quality offered by these devices.

Based on the Application Insights, the market is segmented into Fitness/Sports, Gaming, Virtual Reality and Music & Entertainment.

• This is attributed to the rising adoption of earphones and headphones for casual music listening, usage by audiophiles, and listening and creating sound effects in the music and entertainment industry.
• The virtual reality application segment is expected to witness significant growth over the forecast period owing to the growing adoption of earphones and headphones across the education, construction, business, and armed forces sectors primarily for training purposes.
• The fitness trackers allow the athletes and individuals to monitor and plan their daily workout regime, diet, calories burnt, and distance covered.

Earphones & Headphones Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is highly fragmented and is characterized by high competition with the presence of major global players. These companies particularly focus on enhancing the product quality by adopting advanced and innovative techniques to enhance their market presence and expand their geographical reach. For instance, in September 2018, Skullcandy, Inc. announced the launch of a new wireless headphone known as Riff Wireless. Riff Wireless headphone is lightweight, includes a bendable band, and is equipped with Bluetooth and Rapid Charge technology.

Some prominent players in the global Earphones & Headphones market include:

• Apple Inc.
• Bose Corporation
• Harman International Industries, Incorporated
• Sony Corporation
• Sennheiser Electronics GmbH & Co. KG
• GN Store Nord A/S
• Skullcandy.com

Order a free sample PDF of the in Earphones & Headphones Market Intelligence Study, published by Grand View Research.