Headphones Market to record USD 18.45 Bn incremental growth; Driven by increasing penetration of smart devices -- Technavio
NEW YORK, Oct. 13, 2022 /PRNewswire/ -- The "Headphones Market by Product, Technology, Type, and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the headphones market between 2021 and 2026 is USD 18.45 billion. Technavio has considered various factors including the revenue generated by consumer electronics manufacturing companies manufacturing headphones, revenue generated by retailers offering headphones, the population at different income levels, disposable income, and GDP growth among others to estimate the size of the market. Understand the scope of the report. Download Free Sample Report Now
Key Market Dynamics:
The increasing penetration of smart devices is the key growth driver in the market. The adoption of smart devices among consumers is increasing in developing regions such as APAC, the Middle East, Africa, and South America. This can be attributed to factors such as strong economic growth, increasing literacy rate, and rising purchasing power of consumers. In addition, advances in cellular technologies such as 3G and 4G have increased the penetration of smartphones. All these factors will have a positive impact on the growth of the global headphones market during the forecast period.
However, the high prices associated with wireless variants will challenge market growth. The growing consumer demand for additional features is increasing the price of headphones. Most of the vendors offer wireless headphones at a higher price, thus discouraging customers from purchasing them. The increasing costs of headphones are expected to impact the growth of the market negatively during the forecast period.
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The headphones market report is segmented by product (non-smart headphones and smart headphones), technology (wired headphones and wireless headphones), type (in-ear headphones, over-ear headphones, and on-ear headphones), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
By product, the market observed maximum growth in the non-smart headphones segment in 2021. However, the demand for non-smart headphones is expected to decline over the forecast period owing to the increased demand for technologically advanced headphones, especially in mature markets like North America and Europe.
By Technology, the demand for wired headphones was significant in the market in 2021. The segment is driven by the increased adoption of wired headphones in developing regions such as APAC. Similarly, by type, the market will observe maximum growth in the in-ear headphones segment during the forecast period.
APAC will be the dominating region, occupying 34% of the global market share. The growing penetration of smartphones in countries such as China, India, Japan, and South Korea is the key factor driving the growth of the regional market. Also, the growing adoption of online games in developing countries, such as India, and the regional expansion of vendors are driving the growth of the headphones market in APAC.
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Table of contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by Technology
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
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