Earphone and Headphone Market, By Product Type (Wired (Premium, Mid and Low) and Wireless (Premium, Mid and Low), 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 End-User (SMEs and Large Enterprises), By Geography (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Published In : Sep 2023

Code : CMI3799

Pages :130

Formats :

Excel and PDF

Industry : Consumer Electronics

Market Challenges And Opportunities

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 the growth of the global earphone and headphone market during the forecast period.

Growing demand for wireless headphones and earphones can provide lucrative business opportunities: Consumers are increasingly preferring wireless headphones and earphones, owing to the 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 the 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. For instance, according to Coherent Market Insights, global earphone and headphone market size was US$ 4.65 Bn and expected to grow US$ 6.2 Bn till 2025.

Increasing mobile device penetration: 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 vendors, such as Apple, have seen an increase in market share from November 2021 to December 2021, i.e., from 28.54% to 29.24%. Moreover, rising trend of e-banking, mobile shopping, Bring Your Own Device (BOYD) is boosting the adoption of smartphones and tablets and thereby driving the growth of the market in the near future.