Earbuds Market worth USD 9.23 billion by 2025 with a CAGR Value 22.8% during the forecast period, 2019-2025
Published | 09 March 2019
According to BlueWeave
Consulting, The global Earbuds Market is projected to worth $9.23 billion by
2025, with a CAGR of around 22.8% during 2019-2025.The global demand for
earbuds is primarily driven by the constantly growing demand for smartphones,
tablets, and portable media devices. With the advancements in technology, not
only the earbuds become compact but also comprises more rich features (ex-
incorporation of microphones, noise cancellation technology, and
water-resistant, among others).
Consequently, their
applications have also extended beyond personal entertainment and media to
sports, gaming, healthcare, and corporate segments. Furthermore, the rise in
consumer disposable income and evolving consumer digital habits is expected to
propel the demand for earbuds globally. The rise in the adoption is attributed
to the fact that consumer is tethered to their smart devices, such as iPods,
mobiles, and tablets, for a significant portion of their day, primarily for
listening music, watching videos, or playing games.
Moreover, the increase in
the number of mobile devices, access to music and video content on-the-go, and
the fast-evolving music industry are some of the key factors contributing to
the growth of the global market. Furthermore, vendors are integrating active
voice assistance features like Siri, Google Now, and Alexa to offer the
convenience of use and ease of handling for the consumers, which specifically
designed and marketed for athletes and health-conscious individuals in the
global earbuds market. In addition, the increasing consumer demand for increased
fidelity and style is also creating a positive impact on the overall growth of
the market; thus, the introduction of devices with assisted hearing
capabilities will help players gain a larger share in the global market.
Rapid
Inclination toward Wireless Earbuds Expected To Catapult the Demand of Earbud
over the Forecast Period
The global earbuds market by
feature is segmented as wired and wireless earbuds. The wireless earbuds are
the next technological revolution in the consumer electronics market. Usage of
smart devices such as smartphones, laptops, and the increasing demand for
wireless technology is boosting the market growth of wireless earbuds in the
market. The manufacturers are gaining revenue growth in the market due to its
low cost and user-friendly features. Wireless earbuds rely much on Bluetooth
technology for its connectivity and are integrated with mic, remote for volume,
and playback control. Increasing demand for gaming and virtual reality
applications is one major factor driving the growth of the wireless earphone
market.
Technological
Advancements Boost the Sale of Premium Range Earbuds over the Forecast Period
The global earbuds market by
price is segmented as low, mid, and Premium range price. The premium range
segment occupied more than half of the market share and is expected to grow
with a healthy growth rate over the forecast period. With the integration of
extra functions such as layered hearing and speech amplification by key
companies will augment the growth of the global market. Some of the top players
operating in the market include Apple, Bragi, Bang & Olufsen, and Bose and
usually offer premium-priced variants in the global market where the high price
tag associated with these products is due to the manufacturing brand and features.
Furthermore, the integration of the latest innovations and advanced technology
will add to the price range of these products in the global earbuds market.
Multi-Brand
Stores- Most preferred Distribution Channel
The global earbuds market by
distribution channel is segmented as Multi-Brand Electronics Stores,
Hypermarket/Supermarket Stores, Online Stores, and Others. Multi-brand stores
dominate the market in fast few years as it offers individuals with various
options to consumers for smartphone accessories such as earbuds, covers, and
chargers. In addition, these stores provide consumers with high discounts on
products with the aim of increasing sales and attract consumers. However, sales
of earbuds in online stores will ride on a relatively healthy growth rate over
the forecast period.
Global
Earbuds Market: Competitive Landscape
Some of the leading and
promising manufacturers operating in the global earbuds market include Beats
(Apple Inc.), Sony Corporation, Sennheiser Electronic GmbH & Co. KG, Bose
Corporation, Plantronics Pty Ltd., JVC Corporation, Philips Electronics Ltd.,
GN Netcom A/S(Jabra), Harman International Industries, Inc. (AKG), and
Audio-Technica Corporation among others. The leading companies are taking up
partnerships, mergers and acquisitions, and joint ventures with the aim to
boost the inorganic growth of the industry.
Browse Detailed Analysis
with TOC, “Global Ear buds Market, By
Product (In-Ear, Over-Ear), By Technology (Normal& Sound-Controlled) By
Feature (Wired, Wireless), By Price (Low-range, mid-range, and Premium-range)
By Application (Fitness & Gyming, Gaming, Music & Entertainment), By
Distribution Channel (Multi-Brand Electronic Stores, Hypermarket/Supermarket
Stores, Online Stores and Others), By Region (North America, Europe, Asia
Pacific, Latin America, Middle East, and Africa), Size and Forecast 2015-2025”
At
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