Global Earphones and Headphones Market Report 2023: Sector is Expected to Reach $108.4 Billion in 2027 at a CAGR of 14.7%
DUBLIN, April 18, 2023 /PRNewswire/ -- The "Global Earphones And Headphones Market Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global Earphones and Headphones market was valued at USD 32.40 billion in 2021 and is expected to expand to USD 108.40 billion in 2027 at a CAGR of 14.70% during the forecast period 2022- 2027.
Earphones and headphones are electronic audio devices designed to improve listening quality through the use of active noise cancellation. These are a pair of small loudspeakers & broadly accepted in the music and entertainment industry.
The growing complexity of Earphones and Headphones and the drop in global commodity prices are a few factors that hinder the growth of the Earphones And Headphones market.
Additionally, the presence of a large number of counterfeit products at a lower price is hampering the market growth.
The global Earphones and Headphones market is segmented on the basis of Type, Application, and region. On the basis of type, it is segmented into Wireless, and Wired. By Application such as Virtual Reality, Music & Entertainment, Gaming, and Fitness/Sports.
On the basis of region, Asia Pacific dominates the market due to their acceptance among the consumers in the region and is likely to continue the trend in the forecast period. Also, speedy urbanization and industrialization with an augmented investment towards smart & efficient technology and bigger per capita income, with most contributions coming from India, China, and Japan.
North America holds the second largest share in the global market because of the current well-established market and the high-tech penetration of these regions Demand for ergonomically designed earphones and headphones raises quickly and is anticipated to continue throughout the forecast period, in the United States and Canada.
For more information about this report visit https://www.researchandmarkets.com/r/croumd
Research and Markets
SOURCE Research and Markets