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Earphones and Headphones Market to Procure Substantial Returns By 2024, Public Safety Applications to Drive the Profitability Landscape

Author : Ronak Bora | Published Date : 2019-04-16 

Public safety applications in the earphones and headphones market have witnessed growing adoption across ambulances, aircraft rescues, fire boats and firefighting departments will, thereby driving the industry growth. The systems used in the public safety applications are completely weatherproofed and can be used on some of the most progressive rescues and fire boats.

Increasing compatibility with personal electronics and incorporation of headphones in health and fitness activities will positively impact the earphones & headphones market  over the coming years. Rising disposable income coupled with changing lifestyles and increasing acceptance of these equipment in corporate sector will contribute to revenue growth.

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The industry has seen a transition from being a home audio equipment to portable AV device. Product minimization, technological advancements, and high degree of compatibility with personal electronics will favor the industry demand over the forecast timeline.

Innovations such as noise cancellation technology, light weight, active noise control for improved music experience coupled with innovations in the field of connectivity like Bluetooth 4.0 and Wi-Fi will act as opportunities for wireless earphones and headphones market.

Rising counterfeit devices which have low cost advantage are pushing customers to incline towards these products. Huge unorganized sectors such as India, China, Taiwan and Indonesia may hinder the industry growth.

Increasing significance of smartphones and portable music players will propel growth across the wired earphones and headphones market. Wireless segment is anticipated to grow at fastest rate during the forecast period owing to the major technological changes taking place. Developments such as Bluetooth, SKAA, infrared are expected to positively impact the revenue growth for the earphones and headphones market. Companies are focusing on aesthetic appeal along with technological offerings which enrich the customer ownership and experience.

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The earphones market accounted for the majority of the 2016 shipments due to the short product replacement cycles, rising demand for consumer electronics such as smartphones, tablets, music players and others coupled with increasing disposable income in emerging nations. Companies and manufacturers are looking to offer product differentiation in terms of value added features for sports, athletics and others which has led them to focus more on R&D and innovation.

Asia Pacific earphones and headphones market is anticipated to witness substantial growth owing to the growing usage of mobile devices and the expanding mobile device industry in densely populated countries such as China and India. The growing demand for the products in the region has been witnessed from the business outsourced processing industry mainly in Philippines and India, which are the largest offshoring centers globally. The growing consumer disposable incomes in the region are also anticipated to act as an impetus in generating demand.

The competitive landscape of earphones and headphones market include Ultimate Ears Company, Koninklijke Philips N.V., Sennheiser electronic GmbH & Co. KG, Bose Corporation, Shure Incorporated, Beats Electronics Company, Grado Labs, Aclair Audio, Panasonic Corporation, Pioneer Corporation, Sony Corporation, and Skullcandy Incorporation. Business players may face growth challenges on account of the industry being highly fragmented.

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Moreover, the availability of product substitutes at lower prices may further hamper the industry trends in the years ahead. However, strategies adopted by the market players such as high R&D investments, mergers & acquisitions, improved customer services, technological inventions, and expansion of the distribution channels are likely to combat the restraints imposed on earphones and headphones market.

About Global Market Insights:

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.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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