Wireless Headphones Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2020-2024
Technavio has been monitoring the wireless headphones market and it is expected to grow by USD 8.23 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
Wireless Headphones Market: Segmentation by Type
In-ear wireless headphones can be defined as wireless headphones that can fit comfortably inside each human ear canal. Most wireless headphones fall under this category because of its relative ease of use, comfort, and fitting properties. Depending on the design and model, wireless earphones comprise of rubber or foam tips in different sizes based on fitting to the ears. Secure fitting of in-ear headphones makes them suitable for being used in sports and fitness activities. These headphones or earbuds offer excellent passive noise isolation with superior sound quality and custom-made sound effects. In-ear wireless headphones are characterized by portability, excellent sound quality and nominal storage requirements. These factors are likely to contribute to the growth of in-ear wireless headphones during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the wireless headphones market size.
Wireless Headphones Market: Top Drivers for Growth
Technavio’s market study identifies the increasing penetration of smart devices as one of the primary growth factors for the wireless headphones market. Wireless connected devices such as Bluetooth headphones are gaining prominence as they sync perfectly with smartphones. The increasing adoption of sports and fitness wireless headphones will drive the growth of the wireless headphones market until the end of 2024. The demand for biometric headphones has been steadily increasing among athletes and sportspersons, as the headphones can track heart rate fluctuations, running and fitness metrics, calories burned, and distance covered with time limit. Also, manufacturers are integrating advanced heart-rate sensors in biometric headphones that enhance the performance of various applications. Factors such as the growing focus on youth on fitness and wellness and the launch of new sports and fitness wireless headphones will drive the adoption of wireless headphones in the coming years.
Wireless Headphones Market: Segmentation by Geography
North America was the largest wireless headphones market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Increasing adoption of sports and fitness wireless headphones is one of the key wireless headphones market trends. The high adoption rate of smart devices and multimedia gadgets will significantly drive wireless headphones market growth in this region over the forecast period. 34% of the market growth will originate from North America during the forecast period. The US is one of the key markets for wireless headphones in North America. Market growth in this region will be slower than the growth of the market in APAC and Europe.
Vendor Analysis: Alphabet Inc., Apple Inc. and BBK Electronics Corp. Ltd. are key growth contributors
The market is fragmented. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. 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. Alphabet Inc., Apple Inc., BBK Electronics Corp. Ltd., Bose Corp., JVCKENWOOD Corp., Logitech International SA, Panasonic Corp., Samsung Electronics Co. Ltd., Skullcandy Inc., and Sony Corp. are some of the major market participants.
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Wireless Headphones Market: Key Highlights of the Report for 2020-2024