Earphone and Headphone Market to Grow at a CAGR of 7.0% through 2025
Future Market Insights (FMI) delivers key insights on the global earphone and headphone market in its latest report titled “Earphone and Headphone Market: Global Industry Analysis and Opportunity Assessment, 2015–2025”. In terms of value and volume, the global earphone and headphone market is projected to expand at a CAGR of 7.0% and 4.1%, respectively, during the forecast period due to various growth factors, regarding which FMI offers vital insights in detail in this report.
On the basis of product type, the market has been segmented into wired and wireless earphone and headphone segments. In terms of value, the wired earphone and headphone segment accounted for over 65% share of the global earphone and headphone market in 2014, and is expected to witness a decline of 1,240 BPS in its market share by the end of 2025.On the basis of price, the market is segmented into premium price, mid-price and low price.The premium price segment accounted for 37.9% value share in 2014, which is projected to increase to 39.1% by the end of 2025, witnessing a gain of 120 Basis Point Share. The segment is estimated to expand at a CAGR of 7.3% during the forecast period.
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In this report, the market is segmented by distribution channel into multi-brand store, single/mono brand store (company-owned store) and online store segments. In terms of value, the online store segment is anticipated to expand at the highest CAGR of 9.1% during the forecast period. In contrast, the multi-brand store segment is projected to dominate the global earphone and headphone market, accounting for 40.3% value share of the overall market by the end of 2025.
The multi-brand store segment is further sub-segmented into organised store and independent store. In terms of value, the organised store sub-segment dominated the market with 69.7% share in 2014 and is projected to continue its dominance, accounting for 73.6% market share by the end of 2025.
Application wise, the global earphone and headphone market is segmented into media and entertainment, sports, gaming, personal and corporate segments. Among these segments, the personal segment dominated the overall earphone and headphone market in terms of value with 37.7% market share, which is projected to increase to 43.5% by the end of 2025, expanding at a CAGR of 8.4% during the forecast period.
Growth of the global earphone and headphone market is mainly driven by increasing disposable income, growing adoption of mobile devices and rising number of music streaming subscribers. Mobile phone and existing headphone manufacturers are increasingly inclined towards diversifying their earphone and headphone portfolio in order to enhance their presence in the market.
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This report covers trends driving each segment and respective sub-segments and offers analysis and insights of the potential of the earphone and headphone market in specific regions. By region, Asia Pacific Excluding Japan (APEJ) dominated the earphone and headphone market, accounting for over 50% share of the overall market in terms of both value and volume in 2014, and is anticipated to remain dominant till the end of 2025. Adoption of convenient cash-on-delivery payment options for headphone and earphone as opposed to traveling to brick and mortar stores is on the rise in Asia.
Some of the key players identified in global earphone and headphone market are Beats (Apple Inc.), Plantronics Pty Ltd., Sennheiser Electronic GmbH & Co. KG, Sony Corporation, GN Netcom A/S(Jabra), Harman International Industries, Inc. (AKG), Bose Corporation, JVC Corporation, Philips Electronics Ltd. and Audio-Technica Corporation. Major players in the market follow the strategy of introducing innovative and cost effective earphones and headphones to buy out competition.