Global Earphone & Headphone Market, By Type (In-Ear, On-Ear, Over-Ear), By Technology (Wireless Earphones & headphones, Wired Earphones & headphones), By Application (Music & Entertainment, Sports & Fitness, Gaming & VR, Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
- Published Date: May 2021
- Report ID: BWC19157
- Available Format: PDF
- Page: 119
Global Earphone & Headphone Market- Industry Trends & Forecast Report 2027
The global earphone & headphone market was worth USD 10.5 billion in 2020 and is further projected to reach USD 14.9 billion by the year 2027, growing at the CAGR of 5.3% during the forecast period (2020-2027). The market is expanding owing to the increasing adoption and usage of the internet and smartphone. Additionally, biometric monitoring technologies, active noise cancellation, haptics, and gesture controls have revolutionized the fundamentals of the headphones market. Also, surging sales of mobile devices, increasing usage of online streaming services, and growing disposable income are some of the factors that are anticipated to drive the global earphone & headphone market.
Source: BlueWeave Consulting
Global Earphone & Headphone Market - Overview
The various gyms, health clubs, spas, and wellness centers are incorporating different genres of music and at different sound levels, thereby driving the demand for earphones and headphones in the market. Moreover, the demand for high-quality earphones & headphones has compelled the market players to innovate in styling and technology, which has resulted in a significant demand surge. The rapid advancement in technologies and increasing preference for biometric sports tracking earphones & headphones is expected to fuel the growth of the global earphone & headphone market. The same factors are likely to drive the market growth during the forecast period.
Global Earphone & Headphone Market Forecast and Trends
Technological Advancements and Improvements in Earphones & Headphones
The earphones & headphone manufacturing companies are continually focusing on developing innovative and technologically advanced products. For example, in May 2021, Noise, an emerging wearables brand, has launched the Flair, a new neckband in the Indian market. These are the country's first touch-enabled Bluetooth neckband earphones. Touch inputs are located near the end of the neckband, rather than on the earbuds themselves.
Manufacturing companies are also attempting to reduce the size and weight of earbuds and headset to provide greater sound quality through intensive innovation. Furthermore, through the implementation of advanced technologies, they are constantly working on improving noise cancellation, which is also estimated to trigger market growth. These factors are contributing significantly to the growth of the global earphone & headphone market.
Rising Demand for Convenient Wireless Technologies
Due to a variety of applications such as music and entertainment, gaming, sports and fitness, and others, the demand for wireless earphones and headphones is growing rapidly. Wireless earphones and headphones offer several benefits such as improved comfort, convenience, Bluetooth connectivity, NFC (Near Field Communication) and IR (infrared) connectivity, and much more. Furthermore, manufacturing enterprises are taking every possible measure to cater to the demands of practically every group, including youngsters, children, and the elderly. As a result, a large range of headphones and earphones are being launched every other day. For example, in January 2021, Bose introduced its Sport Open Earbuds, which have a unique outer ear fitting that allows the user to hear their surroundings while listening to music. These innovations are driving the growth of the earphone & headphone market worldwide.
Global Earphone & Headphone Market Restraints
The absence of Standardization and Regulation may Hamper the Market Growth
The market for headphones and earphones is highly exposed to fake and low-quality products which hinder the market of genuine manufacturers. Consumers are highly drawn towards fake products as their prices are very low, Moreover, it is simply impossible to distinguish fake from genuine. The market, particularly in India and China, is rife with such substandard companies, which have a negative impact on market revenue. Furthermore, such companies control the majority of the market, and due to a lack of strict piracy regulation in emerging economies, the market is unable to reach its full potential.
Impact of COVID-19 on the Global Earphone & Headphone Market
The COVID-19-induced pandemic has had a mixed impact on the global earphone and headphone business. On the one hand, the market has thrived as people's reliance on smartphones and computers increased due to online classes and the growing popularity of working from home. This is the primary factor driving the growth of the earphone & headphones market across the globe. On the other hand, manufacturers were unable to meet demand because manufacturing and production operations had been fully suspended due to the lockdown. However, the market is expected to thrive in the post-COVID era.
Global Earphone & Headphone Market - By Type
Based on types, the global earphone & headphone market is categorized into in-ear, on-ear, and over-ear. Among these, the in-ear segment held the largest market share as it appeals to the major target demographic, i.e., school and college-going students. However, over-ear earphones & headphones are also gaining significant traction over the past few years. The introduction of over-ear products with built-in noise-canceling capabilities and added comfort for the user is fueling the expansion of this sector. Moreover, the introduction of features such as hi-fidelity sound is fueling the demand for these products in the global market.
Global Earphone & Headphone Market - By Technology
Based on technology, the earphone & headphone market is segmented into wireless and wired earphones & headphones. The wireless earphones & headphones segment held the highest market share in 2020. It is also the fastest-growing segment owing to the convenience and ease associated with wire-free use. Wireless earphones & headphones connect to any device, such as a smartphone, stereo speaker, television, gaming console, computer, or other electronic devices, without using a wire or cable. However, wired earphones still have prevalence in the market, especially in developing countries like India.
Global Earphone & Headphone Market - By Application
Based on application, the global earphone & headphone market is categorized into music & entertainment, sports & fitness, gaming & VR, and others. Among these, the music & entertainment segment holds the lion’s share due to the increasing number of customers using social media platforms. The sports & fitness application market is also rising, owing to the increasing trend of grabbing a headphone before a long workout. For example, the boAt Rockerz 261 wireless headphones, with their high level of comfort, are ideal for your workout routine. With the rising popularity of multiplayer games like Fortnite, the gaming & VR segment is also gaining significant traction.
Global Earphone & Headphone Market - By Region
Geographically, the global earphone & headphone market is segmented into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa. The Asia Pacific held the largest market share in 2020 and is expected to maintain its dominance over the forecast period owing to the availability of affordable smartphones, along with the rising disposable income, and growth of multi-faceted consumer requirements. North America is also projected to witness a promising growth rate and is an important region in terms of revenue generation in the global earphone & headphone market.
Global Earphone & Headphone Market: Competitive Landscape
There are more than 3,000 companies engaged in manufacturing earphones & headphones. Companies such as Bragi GmbH, LG Electronics Inc., Sennheiser Electronic Corporation, Samsung Electronics Co., Ltd., Sony Corporation, Beats Electronics, Huawei Technologies Co Ltd., JABRA Corporation, Bose Corporation, Skullcandy Inc., Mi, JBL, Boat-LifeStyle, Philips, and Panasonic Corporation are the leading player in the global headphones & earphones market across the globe. The competition is very stiff with the presence of leading manufacturers who adopt innovative and advanced techniques to stay ahead in the competition.
Recent Developments in Global Earphone & Headphone Market
l In January 2021, JBL announced the arrival of a new line of audio products--JBL Tour One over-ear headphones and JBL Tour Pro Plus TWS earbuds, under the Tour series. Both the products come with adaptive noise cancellation and patented Pro Sound and TalkThru technology. Both the devices have Amazon Alexa and Google Assistant built-in.
l In May 2021, Nothing, a London-based consumer technology company announced its plan of launching ‘Ear 1’ in June 2021 globally. The company, backed by Indian Entrepreneur Kunal Shah, aimed towards capturing the earphone market with its first product launch.
Scope of the Report
Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
Revenue in USD Million
North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa
By Type, By Portability, By Application, By Region
Bragi GmbH, LG Electronics Inc., Sennheiser Electronic Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Beats Electronics, Huawei Technologies Co Ltd., JABRA Corporation, JAYBIRD LLC, Bose Corporation, Skullcandy Inc., Mi, JBL, Boat-LifeStyle, Koninklijke Philips N.V., Panasonic Corporation, Apple, Inc., Grado Labs, Harman International Industries, Incorporated, Other Prominent Players
Ø Wireless Earphones & headphones
Ø Wired Earphones & headphones
Ø Music & Entertainment
Ø Sports & Fitness
Ø Gaming & VR
Ø North America
Ø Asia-Pacific (APAC)
Ø Latin America (LATAM)
Ø Middle-East & Africa (MEA)
1. What is the current size of the global earphone & headphone market?
Answer: The global earphone & headphone market reached USD 10.5 billion in 2020.
2. What are the major factors driving the growth of the global earphone & headphone market?
Answer: The major factors driving the growth of the global earphone & headphone market are technological advancements, improvements in earphones & headphones, and the rising demand for convenient wireless technologies.
3. Who are the key players in the global earphone & headphone market?
Answer: The key players in the global earphone & headphone market are Bragi GmbH, LG Electronics Inc., Sennheiser Electronic Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Beats Electronics, Huawei Technologies Co Ltd., JABRA Corporation, JAYBIRD LLC, Bose Corporation, Skullcandy Inc., Mi, JBL, Boat-LifeStyle, Koninklijke Philips N.V., Panasonic Corporation, Apple, Inc., Grado Labs, Harman International Industries, Incorporated, Other Prominent Players
4. Which application segment accounted for the largest share in the global earphone & headphone market?
Answer: The music and entertainment segment accounted for the largest share in the global earphone & headphone market.
5. Which region is at the highest growth rate in the global earphone & headphone market?
Answer: The Asia-Pacific region has the highest growth rate in the global earphone & headphone market.
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