Selbyville, Delaware, July 01, 2020 (GLOBE NEWSWIRE) --
According to latest report “Earphones & Headphones Market by Product (Earphones, Headphones), Technology (Wired, Wireless), Application (Personal, Corporate), Distribution Channel (Online, Offline), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of earphones & headphones will cross $150 billion by 2026. The market growth is attributed to the steadily growing penetration of smartphones and shifting consumer preferences toward high-quality audio devices.
Rising adoption of electronic devices, such as iPods, tablets, and portable music players, will drive the earphones & headphones market growth. The increasing demand for convenience, flexibility, and easy accessibility is encouraging consumers to adopt advanced & high-quality headphones to stream audio content. Bluetooth enabled earphones are also witnessing rapid adoption among consumers due to its better compatibility with a wide range of devices.
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The incorporation of smart functionalities, such as gesture recognition and voice assistance, in earphones has resulted in their increased popularity among consumers. For instance, the JBUDS air true wireless Bluetooth earbuds offered by JLab LLC provide voice assistant compatibility, enabling consumers to operate various functions through voice commands. Market players are currently focusing on providing earphones integrated with advanced features such as voice assistants and touch controls.
The wireless earphones & headphones market is anticipated to gain significantly over the coming years. The ease-of-convenience & comfort provided by the technology is driving the adoption among consumers. The manufacturers are introducing wireless headsets with noise-canceling features to deliver a more immersive listening experience and attract new consumers in the global market. For instance, in October 2019, Apple, Inc. released the AirPods Pro model with features including active noise cancellation, lightness, and in-ear design.
The growing trend of video conferencing has encouraged businesses to adopt high-quality headphones with enterprise-grade security, adaptive noise cancellation, and sleek design. Manufacturers are also offering professional headphones compatible with collaboration platforms such as Microsoft Teams and Zoom. For instance, Jabra is offering Evolve2 85 headphones that are compatible with Microsoft Teams, helping businesses to collaborate effectively and increasing working productivity.
The online distribution channel segment will hold a major share in the earphones & headphones market during the forecast period. Online stores enable consumers to purchase products comfortability from any geographical location and receive fast online support. Changes in consumer preferences toward online shopping and flourishing e-commerce have forced manufacturers to offer quality products in these online stores. The availability of a variety of earphones at various e-commerce websites allows consumers to browse through a wide range of devices.
The presence of established players in the North America, such as Apple, Inc., Bose Corporation, 3M, Plantronics, Inc., and Voxx International Corporation, and the rapidly developing advanced products will augment regional growth. In September 2019, Plantronics, Inc. launched three new true wireless earbuds & headphones including BackBeat FIT 3150, BackBeat FIT 3200, and BackBeat PRO 5100. These products are mainly designed for fitness enthusiasts, featuring IP-57 water resistance and sweatproof rating for outdoor usage.
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Some of the leading companies operating in the earphones & headphones market are Harman International Industries, Inc., Beyerdynamic GmbH & Co. KG, Sennheiser Electronic, Bose Corporation, Audio-Technica Corporation, Bowers & Wilkins Group Ltd., Beats Electronics LLC, Sony Corporation, Anker Technology (UK) Ltd., Apple, Inc., Aftershoktz LLC, Bang and Olufsen A/S, and Skullcandy, Inc. Industry players are focusing on various business growth strategies including investments in advanced technology, strengthening the partner network, and geographical expansion. Through these strategies, players aim to increase their market share and maintain position in the highly competitive market.
Table of Contents (ToC) of the report:
Chapter 3. Earphones & Headphones Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 – 2026
3.3. Impact of coronavirus (COVID-19) pandemic
3.3.1. Global outlook
3.3.2. Regional outlook
3.3.2.1. North America
3.3.2.2. Europe
3.3.2.3. Asia Pacific
3.3.2.4. Latin America
3.3.2.5. MEA
3.3.3. Industry value chain
3.3.3.1. R&D
3.3.3.2. Raw material suppliers
3.3.3.3. Component suppliers
3.3.3.4. Technology providers
3.3.3.5. Manufacturers
3.3.3.6. System integrators
3.3.4. Competitive landscape
3.4. Industry ecosystem analysis
3.4.1. Distribution channel analysis
3.4.1.1. Direct selling
3.4.1.2. Independent authorized distributors and resellers
3.4.1.3. Online channel
3.4.2. End-use landscape
3.5. Technological & innovation landscape
3.5.1. Wireless charging
3.5.2. Noise cancellation technology
3.5.3. Bluetooth 5.0
3.5.3.1. Bluetooth 5.1
3.5.3.2. Bluetooth 5.2
3.5.3.3. Dolby headphone
3.5.4. Gesture recognition
3.5.5. Biometrics
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.2. Industry pitfalls & challenges
3.7. Growth potential analysis
3.8. Porter’s analysis
3.8.1. Threat of new entrants
3.8.2. Threat of substitutes
3.8.3. Bargaining power of buyer
3.8.4. Bargaining power of supplier
3.8.5. Industry rivalry
3.9. PESTEL analysis
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.