The earphone and headphone market share will post an incremental growth of USD 20720.41 million, progressing at a CAGR of 9.84% during the forecast period. The technological advancements for product enrichment will offer immense growth opportunities to market vendors. The market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Earphone and Headphone Market by Type, Technology, and Geography - Forecast and Analysis 2023-2027” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The earphone and headphone market is segmented by type (in-ear, on-ear, and over-ear), technology (wired, wireless, and TWS), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
The growth of the earphone and headphone market size in the in-ear segment will be significant during the forecast period. Technological advancements such as the emergence of notch-less smartphones are anticipated to fuel the growth of the in-ear wireless earphones segment during the forecast period. North America is expected to emerge as the largest market for premium-range earphones and headphones.
The technological advancements for product enrichment will directly influence the sales of earphone and headphone market. In addition, the demand for IPX-certified devices is one of the major earphone and headphone market trends that will positively impact the market growth. However, factors such as the high prices associated with wireless variants will hamper the earphone and headphone market growth.
The market is fragmented due to the presence of several players. Some of the major earphone and headphone market vendors are Alclair Audio Inc., Apple Inc., Bose Corp., Bowers & Wilkins, GN Store Nord AS, Grado Labs Inc., JVCKENWOOD Corp., Koninklijke Philips NV, Logitech International SA, Panasonic Holdings Corp., Pioneer India Electronics Pvt. Ltd., Samsung Electronics Co. Ltd., Sennheiser Electronic GmbH & Co. KG, Shure Inc., Skullcandy Inc., Sony Group Corp., Xiaomi Inc, and Zound Industries International AB
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2023-2027
CAGR of the earphone and headphone market forecast during 2023-2027.
Market-level data on units, average selling prices, and values of the earphone and headphone market share.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the earphone and headphone market.
Earphone and headphone industry growth across APAC, North America, Europe, Middle East and Africa, and South America.