Market Trends of Earphones And Headphones Industry
Consumer Segment to Witness Significant Growth
- The consumer applications of the global headphone and earphones market have experienced significant growth and change in an era dominated by technology and personalization. Headphones have evolved from wired to wireless and from basic to smart, becoming essential for modern consumers with various preferences and requirements. This upward trend will persist as manufacturers strive to improve battery life, sound quality, and connectivity range.
- Headphones are commonly utilized in consumer applications alongside stationary CD and DVD players, home theaters, personal computers, and portable devices such as digital audio players/MP3 players and mobile phones, as long as these devices possess a headphone jack. Consumers are actively searching for headphones that offer an immersive auditory experience, whether on the go, working, or simply indulging in music. The increasing sales of smartphones and the expanding base of music listeners are anticipated to amplify the utilization of headphones and earphones further.
- The global demand for active noise-canceling headphones and earphones is fueled by the rising adoption of prominent consumer devices like smartphones and connected mobile phones. Manufacturers of noise-canceling headphones are expected to benefit from the increasing sales of smartphones and smart devices such as Alexa and Google Homes, which drive the market growth. Furthermore, the growing popularity of remote work and hybrid office models, along with the expansion of the smartphone industry, will contribute to the demand for high-quality headphones, thereby boosting noise-canceling technology.
- For instance, in September 2023, Realme launched the Realme Narzo 60x, its latest affordable smartphone, along with the Realme Buds T300 TWS earbuds in the Indian market. In contrast, the Realme Buds T300 earbuds boast an impressive battery life of up to 40 hours and feature 30dB active noise cancellation. These earbuds have a 12.4mm dynamic bass driver and offer an immersive sound experience with their "360° 3D Spatial Audio Effect." Additionally, they support Bluetooth 5.3 and provide a low latency of 50ms in game mode. Such vendor innovations in introducing the products for consumer applications are expected to drive the market.
- The positive impact on market growth is expected due to the expanding smartphone industry and mobile sales. The global smartphone market is expected to grow due to several influential factors. These factors include the increasing accessibility of the Internet, the rising marketing endeavors by smartphone manufacturers, and the growing number of subscriptions to social media platforms. Ericsson predicts worldwide smartphone mobile network subscriptions will reach nearly 6.9 billion in 2024 and are projected to surpass 7.7 billion by 2028.
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Asia-Pacific is Expected to Register the Fastest Growth
- The growing popularity of gaming and virtual reality applications drives the demand for headphones and earphones in China. These devices enhance the gaming experience by providing immersive sound effects and spatial audio. According to the Game Committee of the Publishers Association of China, the world's second-largest economy is already home to one of the world's largest gaming populations, reaching 668 million in 2023, an increase from 664 million in 2022.
- India is expected to exhibit noteworthy growth over the forecast period, owing to some major players like Sennheiser, BoAt, Noise, and JBL. These market players are making significant developments in their offerings by conducting research and development campaigns, which are further expected to result in the country's wide-scale adoption of earphones and headphones.
- The rapid growth of smartphones in the country is further expected to boost the region's adoption of earphones and headphones. This is because consumers use smartphones extensively to listen to music compared to other devices, such as iPods and Walkman, used in the past. As per IBEF, the number of smartphone users in India is projected to reach 887.4 million by 2030.
- Japan has a high smartphone and internet penetration, which is likely to drive the demand for the studied market. For instance, according to a survey conducted by the Ministry of Internal Affairs and Communications (Japan) during fiscal year 2022 (38,629 respondents; household members aged six years and older; survey answers were retrieved via mail and e-mail; Postal questionnaire), home video game consoles had a penetration rate of 55.7%among teenagers in Japan. More than 98% of respondents in their twenties and thirties used the Internet. Among respondents aged 80 years and older, the internet penetration rate was about 3%.
- The rise of over-the-top (OTT) services, audio content, and media consumption on smartphones has influenced the headphones market in South Korea. The pandemic has further accelerated the adoption of streaming services, YouTube, Podcasts, audiobooks, and other media consumption, leading to increased demand for headphones and earphones.
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