GLOBAL EARPHONE AND HEADPHONE MARKET IS ESTIMATED TO REACH USD 166.67 BILLION BY 2033: SPER Market Research
A headphone or wired earphones, is a gadget that can be used for a variety of purposes, including entertainment, gaming, and fitness. To transfer sound from a device to headphones, wired earphones and headphones include plugs and headphone jacks. The most widely used headphone plug types—3.5mm, USB, TRS, TRRS, and TRRRS—remain to be favoured over wireless models. One can wear wireless headphones and earbuds in your other ear, over your ear, behind your ear, or in your ear. Both noise-cancelling and Bluetooth-capable headphones are included. It is comfortable and easy to use a range of headphones and earbuds.
According to SPER Market Research, ‘Earphone and Headphone Market Size- By Technology, By Product Type, By Price Band, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Earphone and Headphone Market is estimated to reach USD 166.67 Billion by 2033 with a CAGR of 11.8%.
The key factors propelling the market’s growth over the projected period are the applications of wired headphones and earphones, as well as the broad range of end user industries such as endless playtime and user-friendly features. Furthermore, the market is expanding due to the benefits of active noise cancellation and other factors. Manufacturers have enhanced product durability since consumers use headphones and earbuds for exercise in a variety of environmental situations, such as rain and dust.
The market expansion for earphones and headphones is largely being driven by the increase in demand for high-quality audio equipment. Because the earphones are compact and housed in a charging case, they are highly portable, which contributes to the market’s expansion.
Market growth is predicted to be hampered by consumers’ changing preferences from wired to non-wired items as a result of the growing benefits and capabilities of the product. Lower-quality counterfeit items are getting more and more common in emerging countries like China and India. These earbuds are popular since they are sold for less money than the real items. These counterfeit items are expected to impede the market’s growth over the projected period. The product’s susceptibility to damage is its biggest flaw. Over the course of the forecast period, this factor is anticipated to pose a threat to the wired headphones and earphone market.
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Impact of COVID-19 on Global Earphone and Headphone Market
The COVID-19 epidemic had just a little impact on the expansion of the headphone and earphone markets. The pandemic led government agencies to impose stringent travel bans and suspensions, which interfered with logistics and production capacity and decreased overall sales. As a result, well-known producers of consumer electronics has suffered. Headphones use increased significantly as a result of the travel restrictions, which increased customer interest in using online streaming services to watch movies, web series, and discussion programs. The need for headphones and earbuds was also greatly boosted by work from home opportunities.
Earphone and Headphone Market Key Players:
The market for wired headphones and earphones is dominated by Asia-Pacific due to the development of low-cost technologies and the region’s access to inexpensive labour. Because of the increasing use of extremely sophisticated technology in the region, North America is predicted to experience tremendous growth. Some of the key market players are Samsung, Zebronics India Pvt. Ltd., Alclair Audio, Panasonic Corporation and Pioneer Corporation.
Global Earphone and Headphone Market Segmentation:
By Technology: Based on the Technology, Global Earphone and Headphone Market is segmented as; Wired (ANC and Others), Wireless (ANC, Bluetooth, NFMI, Smart headphones and others).
By Product Type: Based on the Product Type, Global Earphone and Headphone Market is segmented as; Earphones, Headphones.
By Price Band: Based on the Price Band, Global Earphone and Headphone Market is segmented as; < USD 50, USD 51-100, > USD 100.
By Application: Based on the Application, Global Earphone and Headphone Market is segmented as; Fitness, Gaming, Music & Entertainment, Virtual Reality.
By Region: This research also includes data for Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Earphone and Headphone Market Trends
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