The global earphone market is poised to surpass $14 billion in revenue in 2029 . If these figures hold true, the earphone market will exhibit a CAGR of ~4.9% between 2019 and 2029 .
As expected from the new Future Market Insights (FMI) report. With the development of entertainment technologies such as virtual reality and augmented reality (VR & AR), the demand for high-definition earphones is increasing.
Mass adoption of e-commerce platforms by increasing millennial consumers creates a competitive landscape for revenue-capturing strategies. It also promotes market penetration of new entrants in the earphone industry. Accordingly, major companies are differentiating their products based on innovative features such as sound quality, purchase convenience, and completely wireless earbuds.
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COVID-19 Impact: Growing Import Reliance on Chinese Markets
The global COVID-19 pandemic was initially expected to impact the landscape of technology and technology products and services. China, a global hub for tech products, is wreaking havoc on the global smartphone accessory market, including earphones.
China has recently reopened its manufacturing sector outside of Wuhan, and brands will now rapidly ramp up production levels. However, logistical disruptions due to lockdowns and social distancing, lower demand and reduced store footfall will continue to have a significant impact on smartphone and earphone sales in the near term. The dependence of most technology markets on imports from China is currently putting a heavy strain on international markets.
Global Earphone Market – Key Takeaways
- Applications in music and entertainment continue to lead by overall market value.
- Gaming applications offer lucrative growth opportunities with an attractive CAGR projected through 2029.
- Countries in North America account for the majority of sales worldwide.
- East Asia offers conservative growth opportunities with the highest growth rate over the forecast period.
- The Over the Year product category earns the highest revenue among product type segments.
- In-ear earphones are emerging as a lucrative category due to their excellent sound quality and noise cancellation.
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Global Earphone Market – Key Drivers
- The utilization of mobile entertainment platforms such as Netflix has created an ongoing revenue stream for the market.
- The prevalence of Multiplayer Online Battle Area (MOBA) games is further increasing the demand for earphones for an enhanced gaming experience.
- Lifestyle trends such as fitness sports and gym training also contribute to the market growth.
Global Earphone Market – Key Constraints
- Smartphone manufacturers’ advance into earphone manufacturing acts as an obstacle to dedicated earphone manufacturers.
competitive landscape
Product and service innovation is a top priority among best-in-class companies. For example, in May 2019, Bose Corporation launched the Bose Earbuds 500, truly wireless Bluetooth earbuds.
Features such as noise canceling. Sound output and sound quality are differentiators in the market. The major players operating in the earphone market are Apple, Inc., and JVC. Sony Corp., Skullcandy, Inc., Bose Corp., Sennheiser Electronic; and Shure, Inc, Bose Corporation, Sennheiser Electronic GmbH & Co. KG, Grado Labs Inc., Jays AB AIAIAI ApS, AKG Acoustics GmbH, Skullcandy Inc., Beyerdynamic GmbH & Co. KG, Creative Technology Ltd, Denon Electronics LLC (USA), House of Marley, LLC, Sony Corporation, Audio-Technica Corporation, Harman International Industries, Inc. JBL.
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market segmentation
The global earphones market is segmented in detail to cover all aspects of the market and provide complete market intelligence to the readers.
product type
- in the ear
- over ear
technology
- mad
- wireless telephone
application
- music and entertainment
- sports and fitness
- games and virtual reality
price range
- low
- Middle class
- Premium product line
sales channels
- Wholesaler/Distributor
- Hypermarket/Supermarket
- specialty store
- exclusive store
- online store
- etc
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