Earphone and Headphone Market share to grow at 4.6% CAGR from 2016 to 2023: Global Market Insights Inc.
The market research report “Earphones And Headphones Market Size By Technology (Wired, Wireless), By Product (In-Ear, Over-the-Ear), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, India, China, Japan, South Korea, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023”. Earphone and Headphone Market share to exceed USD 18.2 billion by 2023. Rising adoption of portable devices such as smartphones, mobiles, laptops, and tablets will prominently drive earphones and headphones market size over the coming six years. Growing consumer preference for mobiles, iphones, and portable audio players such as MP3 music players will accelerate earphone & headphone market demand over the years to come. Flourishing Wi-Fi and Blue tooth sectors will further add towards the product demand in the near future. Rapidly expanding home audio equipment sector will contribute significantly towards earphone & headphone market revenue over the coming six years. Product innovations along with successful execution of marketing and branding strategies executed by the major players will benefit the industry. High per capita income along with elevated economic growth across emerging economies is expected to create brighter growth prospects for market.
In terms of technology, the industry is segmented into wireless and wired Earphone & Headphones. Wired earphone & headphone market, worth USD 10 billion in 2015, is forecast to record an annual growth of 4.6% over 2016-2023. Technological innovations in wireless products to improve the hearing experience coupled with rising efforts to curb noise pollution will drive wireless earphone & headphone industry revenue over the next few years.
Earphones market, worth USD 7.7 billion in 2015, is expected to contribute significantly toward the overall industry growth over the next few years. Its light-weight, compact, and portable features are projected to accelerate the revenue. Headphones are expected to collect a revenue of over USD 6 billion by 2023, driven by growing 1|Page