PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401369
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401369
Global Earphones And Headphones Market is valued at approximately USD 63.49 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 12.6% over the forecast period 2023-2030. Earphones and Headphones are the products which work as a mini speaker, and is used to listen to music in high quality without any outside disturbance as the audio directly goes in ears. The Earphones And Headphones Market is expanding because of factors such as the expansion of music content and high-speed internet access and internet penetration. However, the presence of duplicate product, people experience hearing loss due to earphones and headphones tend to hinder the growth of market.
The availability and expansion of more music content is a factor driving the Earphones And Headphones Market. As the more innovative music and listening content results in consumers interested in buying more audio related product resulting in growth in headphones and earphones market. According to Statista 2023, global digital music revenue is USD 1.1 billion. While in 2022, digital music revenue was 0.9 billion. Moreover, according to International Federation of the Phonographic Industry global music market in 2022 was USD 26.2 billion and overall streaming share of global revenue is 67.0%. This statistic shows that there is growth in music revenue this growth leads to growing number of listeners resulting in more consumers using and buying earphones and headphones. Rise in Internet speed and penetration among people has led to growth in the earphone and headphones market. As according to the world bank 2023 internet penetration rise to 75 % of the population in all developing countries. This would add as much as USD 2 trillion to developing countries collective gross domestic product. The rise in popularity of consumer electronics helps in the growth of this market as earphones and headphones are segments of consumer electronics so if there is growth in Consumer electronics market there will be a growth in Earphones And Headphones Market. As according to Statista 2023, revenue in the Consumer Electronics market amounts to USD 1,028.00 billion. According to same source the market is expected to grow annually by 2.32% in the forecast period. The launch of new and innovative products and new features in earphones and headphones segment have attracted consumers to buy these products. Similar to Sony launched Sony link buds in 2022 with features such as noise cancellation, Bluetooth Multipoint, and access to your voice assistant.
The key regions considered for the Global Earphones And Headphones Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 India being one of the developing countries in this region is growing in the field of wireless technology, presence of key player leads to manufacture of innovative product in this region. Moreover, an increase in consumer disposable income and the availability of cheap labor are other factor driving this market to grow. North America is expected to grow significantly over the forecast period, owing to factors such as strong technological advancement and consistent research and development which results in product innovation in this Earphones And Headphones Market. Additionally presence of leading players in this market helps in growth of this market in this region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable