Dublin, Feb. 14, 2024 (GLOBE NEWSWIRE) -- The "Headset Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global headset market has grown exponentially in recent years. It will grow from $76.85 billion in 2023 to $100.67 billion in 2024 at a compound annual growth rate (CAGR) of 31.0%. The growth observed in the historic period can be attributed to several factors, including the expansion of the gaming industry, an increase in disposable income, the rise of remote work, changing patterns in entertainment consumption, and the globalization of e-commerce.
The headset market size is expected to see exponential growth in the next few years. It will grow to $303.23 billion in 2028 at a compound annual growth rate (CAGR) of 31.7%. The anticipated growth in the forecast period can be attributed to factors such as the increasing prominence of augmented reality (AR) and virtual reality (VR), the continued demand for remote work and communication solutions, evolving consumer lifestyles, a growing focus on environmental sustainability, and the emergence of new distribution channels. Key trends expected in the forecast period encompass the dominance of wireless connectivity, the proliferation of true wireless earbuds, the integration of advanced features, the development of multi-functional smart headsets, and an increased emphasis on ergonomics and comfort.
The headset market is anticipated to experience growth due to the increasing prevalence of smartphones. Smartphones, multifunctional devices akin to computers, offer a range of benefits including a touchscreen interface, internet access, and compatibility. Headsets complement the smartphone experience, providing ease of handling and enhanced communication for activities such as gaming and general calls. The growing global smartphone user base, reaching 86% of the population (approximately 6.65 billion people) in June 2022, is expected to increase to 7.52 billion users by 2026, according to Zippia. Consequently, the expanding penetration of smartphones is a driving force behind the demand for headsets.
The surge in the number of gamers is expected to propel the growth of the headset market. The term 'gamer' now encompasses a diverse range of individuals engaged in gaming across various platforms, including desktops, laptops, gaming consoles, and mobile devices. Gaming headsets play a crucial role in enhancing audio quality, communication, and overall immersion in the gaming experience. The Australia Plays 2023 report by the Interactive Games and Entertainment Association revealed that 81% of Australians are engaged in playing video games, marking a 14% increase from the Digital Australia 2022 survey conducted two years earlier. This rise in the gaming community is a significant driver for the headset market.
Technological innovations are a prominent trend in the headset market, with major companies introducing advanced products to maintain their market positions. For instance, Jabra, a Danish audio equipment company, launched two innovative products, Engage 40 and Engage 50 II, in September 2022. These products feature built-in hearing protection, noise-isolating earcups, and advanced speaker technology with speech optimization and background noise cancellation, providing users with clear communication in various environments.
Strategic partnerships are being adopted by major companies in the headset market, aiming to integrate popular platforms into virtual reality (VR). Microsoft Corporation's partnership with Meta Platforms, Inc., announced in October 2022, exemplifies this approach. The collaboration focuses on bringing essential services such as Teams, Office, Windows, and potentially Xbox Cloud Gaming to Meta's Quest VR devices. This partnership envisions a virtual workplace where Microsoft services are seamlessly integrated into Meta's VR experience, extending beyond traditional meetings to include features such as Windows 365 availability on Quest.
In March 2022, Sonova, a Switzerland-based audio devices company, acquired the Consumer Division of Sennheiser for an undisclosed amount. This acquisition not only expands Sonova's consumer division in audio devices but also opens up growth opportunities in the true wireless headset market. Sennheiser, a Germany-based company known for its high-quality audio products, aligns with Sonova's objectives in the audio device sector.
North America was the largest region in the headset market in 202. The regions covered in the headset market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the headset market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Report Scope
Markets Covered:
1) By Type: In-Ear; Over Ear
2) By Price Band: Below USD 50; USD 51-150; USD 151-350; Over USD 351
3) By Connectivity: Wired; Wireless
4) By Application: Smartphone; Personal Computer (PC); Wearable; Other Applications
Key Companies: Alclair Audio Inc.; Bose Corporation; JVC Kenwood Corporation; Apple Inc.; Harman International Industries
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
A selection of companies mentioned in this report includes:
- Alclair Audio Inc.
- Bose Corporation
- JVC Kenwood Corporation
- Apple Inc.
- Harman International Industries
- Grado Labs
- Shure Incorporated
- Koninklijke Philips N.V.
- Logitech International SA
- Panasonic Corporation
- Plantronics Inc.
- Sony Corporation
- Shenzhen Cannice Technology Co. Ltd.
- GN Netcom
- Motorola
- LG Electronics
- Sennheiser Electronic GmbH & Co. KG
- Logitech International S.A.
- Jabra (GN Audio)
- Beyerdynamic GmbH & Co. KG
- Audeze LLC
- Razer Inc.
- Audio-Technica Corporation
- Skullcandy Inc.
- Corsair Gaming Inc.
- HyperX (a division of Kingston Technology Company)
- SteelSeries
- JBL (a division of Harman International Industries)
- Creative Technology Ltd.
- HIFIMAN Electronics
For more information about this report visit https://www.researchandmarkets.com/r/aa6nyq
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