Headphones Market Size to Grow by $ 77.76 bn through 2021-2025 | Forecast and Trend Analysis
Technavio has been monitoring the headphones market and it is expected to grow by $ 77.76 bn, accelerating at a CAGR of almost 8% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Headphones Market: Emerging Trends to Impact Market Growth
Product miniaturization to emerge as a key trend in the industrial headphones market. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.
Headphones Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Apple Inc., Audio-Technica US Inc., Bose Corp., JVCKENWOOD Corp., Monster Inc., Panasonic Corp., Samsung Electronics Co. Ltd., Sennheiser electronic GmbH & Co. KG, Skullcandy Inc., and Sony Corp. are some of the major market participants. 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.
Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
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The Global Headphones Market is expected to grow by USD 77.76 billion accelerating at a CAGR of almost 8% during the forecast period. Techanvio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. Download our free sample report with COVID-19 analysis
Headphones Market: Segmentation by Technology
During 2020, the wired headphones segment dominated the Global Headphones Market. Wired headphones are more affordable than wireless headphones. The demand for wired headphones is, thus, high among the middle-income categories. Thus the demand for wired headphones is increasing owing to their low price and the growing online learning among students.
The growing penetration of smart devices such as smartphones, tablets, laptops, smart TVs, streaming media players, and other multimedia devices is also expected to drive the demand for supporting accessories such as headphones. Economic growth, increasing literacy rate, and rising purchasing power of consumers are other factors that will boost the demand for smartphones and other devices. Additionally, the advances in cellular technology such as 3G and 4G have also fueled the adoption of smart devices. Therefore, the augmented sales of smart devices are expected to propel the demand for headphones over the forecast period.
Efficiency in operations is an essential lever for retailers to increase their profitability. Also, maintaining sufficient inventory is critical to ensuring a positive customer experience. Smart retailing solutions such as powerselfs are high in demand as they are battery-free digital interface solutions, enabling two-way communication, inventory management control, out-of-stock monitoring and alert, digital signage, and lighting and temperature monitoring of the product. Also, the implementation of next-generation technologies, such as the IoT and big data, helps retailers in increasing their efficiency by facilitating real-time problem-solving at reduced costs. Therefore, the rising need for retailers to enhance operational efficiency is expected to augment the growth of the global Headphones Market during the forecast period.
Headphones Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Apple Inc., Audio-Technica US Inc., Bose Corp., JVCKENWOOD Corp., Monster Inc., Panasonic Corp., Samsung Electronics Co. Ltd., Sennheiser electronic GmbH & Co. KG, Skullcandy Inc., and Sony Corp. are some of the major market participants. 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.
Technavio forecasts three scenarios (optimistic, probable, and pessimistic) to evaluate the impact of COVID-19 Download a Free Sample Report. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.
