Global Premium Headphones Market Size, Growth & Statistics 2020-2027
The global premium headphones market was valued at USD 3.22 Billion in 2019 and is anticipated to reach USD 6.78 Billion in 2027 growing at a CAGR of 10.1% over the forecast period. The extensive usage of the internet and smartphones across the globe is giving rise to strong, and attractive opportunities for the top vendors operating in the global premium headphones market. These manufacturers and vendors are mainly focusing on consumers’ comfort, easy to use headphones, and most importantly their premium sound quality.
The increasing popularity and online streaming of music are also one of the factors which are expected to boost market growth in the coming years. Moreover, technological advancements pertaining to noise cancellation are also expected to fuel the market growth as it helps in eliminating the background noises resulting in enhanced sound quality. The rising popularity and usage of smartphones, tablets, laptops, portable music players, and other mobile devices is also expected to have a positive impact on the market.
Moreover, nowadays gym trainers and sports athletes are increasingly using premium headphones, which in turn is giving a boost to the market. Many experts say that the significant amalgamation of health sensors and biometric monitoring capabilities will surely enhance the development of the premium headphones market across the globe.
Furthermore, in 2018 JBL, a very prominent brand in headphones introduced a new variation in headphones which is exclusively made for the gym. Many players in the market mainly rely on strong distribution channels which include multi-brand advertising and retailers in order to gain competitive advantage.
The market can be segmented into headphones and earphones. The earphone segment is anticipated to account for the maximum share in the market because of the growing demand for wireless earphones across the world. Because they offer high sound quality. The headphones segment is also anticipated to witness considerable growth on account of developments in terms of the features, such as Bluetooth, Wi-Fi.
Headphones are hardware output devices that can be plugged into computers or phones or laptops. These are used to listen to audio or watch a movie without being disturbed. Now, if we talk about earphones, they are devices used for converting electric currents into sound waves, held closed or inserted into the ear.
The market can be segmented into wired or wireless. The wireless segment is estimated to witness the growth owing to advancements, such as Bluetooth and Wi-Fi. Many companies are focusing on making innovative products. This will further boost the demand for wireless products. Wireless headphones are the trend in today’s day and age.
How many times have you been listening to your music with wired headphones, only a few times right? When you just want to sit on the chair or table. If we talk about wireless headphones they are more convincing in your way, you are free to do anything you want. You can easily do household work, workout in the gym, and many more things without any obstacle.
The market can be segmented into fitness, gaming, virtual reality, music, and entertainment. Virtual reality is expected to be a fast-growing segment over the forecast period. The rising need to enhance the VR experience is driving and boosting the segment demand.
Headphones are further used in the fitness segment, to enjoy a workout with good music and without any disturbance. In the gaming segment headphones are used as children do not want any disturbance and they just want to enjoy their game time. And the headphones are used in the music and entertainment segment for relaxing and enjoying.
North America accounted for more revenue in 2018 as compared to any region because of a well-established market coupled with high penetration in the region. Asia Pacific is expected to be the fastest-growing market from 2019-2025.
This is attributed to the rising consumer disposable income levels in the region, especially in developing countries like India, China, Japan. Moreover, many companies are investing in such economies owing to low-cost labor which will automatically contribute to the region’s growth.
Key market players of the industry are Apple, JVC, Sony Corp, Skullcandy, Bose Corp, Sennheiser Electronic, Shure Inc. Most of these companies are focusing more on enhancing product quality by adopting many techniques to strengthen their market presence. These companies are working very hard.
Some of the key players operating in the global premium headphones market include Bose Corporation, Beats Electronics, 3M, Alclair Audio, Audio-Technica Ltd, Panasonic Corporation, Apple Inc., Bowers & Wilkins Group Ltd., David Clark Inc., GN Group, Harman International, Inc., Sony Corporation, Logitech International S.A., Koninklijke Philips N.V., Pioneer Corporation, and Sennheiser Electronic GmbH & Co. KG.
|Base year of estimation||2019|
|Actual estimates/Historical data||2017-2019|
|Market representation||Revenue in USD Billion and CAGR from 2020-2030|
|Regional scope||Asia Pacific, Europe, North America, Latin America|
|Country scope||US, Canada, UK, France, Russia Japan, India, China, Brazil, Korea, Mexico, New Zealand|
|Report coverage||Revenue forecast, company share, competitive landscape, growth factors and trends|
|15% free customization scope (equivalent to 5 analysts working days)||If you need specific information, which is not currently within the scope of the report, we will provide it to you as part of the customization.|
This report forecasts revenue at the global premium headphones market, regional and country levels, and provides an analysis of industry trends in each of the sub-segments from 2014-2025. For the purpose of this study, UpGraph Research has segmented the global premium headphones market on the product, technology, application, regional, and competitive.
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