Global Wireless Headphones Market to Reach Nearly USD 70 Billion by 2028
Published | 16 March 2022
The growth of the wireless headphones market is mounting due to the strong growth trajectory in the audio/video electronics vertical amidst rising consumer demand…
A recent study by the strategic consulting and market research firm; BlueWeave Consulting revealed that the Global Wireless Headphones Market was worth USD 18,272.9 million in 2021 and is projected to reach up to USD 69,964.8 million by the year 2028, growing at a CAGR of 21.5% over the analysis period of 2022-2028. It is owing to the growing consumer demand for infotainment. Furthermore, other factors like the growing urban population, rising consumer prosperity of the middle-class section, and the advent of the audiophile era favor a larger uptake of cutting-edge and innovative audio solutions like wireless headphones. The global wireless headphones market is focused on a growing preference for wireless devices, coupled with the increasing use of smart devices. Additionally, there has been a growing trend of wireless headphones as they provide independence of movement and can be used throughout a gym workout, sports, are easy to carry while traveling or performing other physical activities. Hence due to the aforementioned factors, the global wireless headphone market is expected to experience substantial growth during the forecast period 2022-2028.
Integration Of Several Technologies Like Echo Reduction, Noise Cancellation, Etc. To Propel The Growth of Global Wireless Headphones Market
Customers are increasingly emphasizing purchasing advanced products to improve their listening experience. The integration of Bluetooth, IR, and NFC technology has offered a seamless connectivity experience with smartphones, computers & tablets. Furthermore, the introduction of echo reduction and noise cancellation has developed the comfort and convenience of the users. The inclusion of such technologies has improved the connectivity range and flexibility of the devices, thus supporting product acceptance for personal use. For instance, Munich-based tech firm Bragi provides headphones having features such as 4 GB of storage for mp3 collection, physical and biofeedback sensors to track heart rate and oxygen saturation, measurement of steps and pace, audio feedback throughout the workout. All these added advantages play a proactive role in increasing the demand for wireless headphones globally.
Rising Utilization Of OTT And Social Media To Accelerate The Industry Progression
The rising utilization of Over The Top (OTT) platforms, such as Amazon Prime, Netflix, Hulu, Disney Hotstar, etc., for content consumption, is likely to support the market progression. The growing usage of social media is another factor aiding the market's growth. Moreover, the imposed travel restrictions have shifted consumer interest towards online streaming platforms to watch movies, web series, and talk shows. Furthermore, consumer interest in online streaming platforms to view movies, web series, and talk shows has shifted due to the imposed travel limitations. Without the usage of a cable box, OTT apps can broadcast content. Content owners, distributors, and sponsors create an irresistible force that combines scalability with traditional pay-TV. Traditional pay-reach TVs and power are combined in OTT apps. The internet's adaptability generates an unstoppable force that has created opportunities for content creators, distributors, and marketers worldwide. The growing OTT industry is expected to directly contribute to the market growth of the wireless headphones market during the forecast period.
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Impact of COVID-19 on The Global Wireless Headphones Market
The outbreak of the COVID-19 pandemic has thrown the worldwide commercial climate into chaos. Many industries have been entirely shut down for several months due to lockdowns in major and most countries around the world, followed by diseases. It's crucial to weigh the effects of lockdowns on various industries. Due to social isolation, the COVID-19 has disrupted supply chains and reduced the workforce. It has also diminished market demand because people's per capita expenditures have declined in various countries. In this situation, the pandemic has had a negative impact on the wireless headphones market. However, markets have begun to return to normalcy quickly after the lockdowns have ended. As a result, there is still reason to be optimistic for the future.
North America Region Accounted For The Largest Market Share In The Global Wireless Headphones Market
In terms of regional analysis wireless headphones market is classified into North America, Europe, The Asia Pacific, Latin America, The Middle East, and Africa. Amidst the classification, North American countries like the US, Canada, Mexico held the largest market share in the world for wireless Headphones. The most important growth factors for the market are constant technical innovation, new technologies, and high-income citizens. Although, according to recent wireless Headphones market trends, the Asia Pacific region is also experiencing fantastic growth. According to market statistics, densely populated countries such as China and India are emerging as new potential markets for companies. Due to the rising demand for wireless headphones in the region, Asia-Pacific is expected to be the most attractive market for makers of wireless headphones over the forecast period.
The key players operating in the global Wireless Headphones market are Sony, Jaybird, Shure, Philips, Bose, Beats Electronics, Apple Inc, JVC, Skullcandy, Skullcandy, Jabra, Bang, Olufsen, Jaybird, Motorola, Huawei, Avanca, ASUS, Samsung and other prominent players. The significant market pioneers maintain their dominance in the market by investing in research and activities, integrating the latest and advanced technologies into their products, and launching improved products for the customers. Different strategies are adopted, like engaging in strategic alliances, agreements, mergers, and collaborations.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the global wireless headphones market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global wireless headphones market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the market's growth drivers, challenges, and competitive dynamics.
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