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The evolution of technology and the growth of music streaming platforms have revolutionized the way people listening to music. The fast-evolving music industry and the increase in streaming of music by consumers during their day-to-day activities are supporting the growth of the global earphones and headphones market. In the recent years, the increasing trend of using premium headphones as fashion accessories is resulting in tremendous growth of the market across the globe.
On a global scale, the total smartphone penetration is about 45% which is expected to accelerate the demand for music accessories in the global market. These reports cover a detailed overview of several growth enablers, new technologies, and trends in the market. Arizton's approach includes the key highlights of the market such as trends and driver analysis, market share analysis, growth opportunities, and the impact of government initiatives in the smart tech industry.
Here's a sneak peek at these reports:
1. Earphones and Headphones Market - Global Outlook and Forecast 2021-2026
The global headphones market is expected to reach USD 51.56 billion by 2026. The adoption curve of smart headphones in the global market can be predicted by considering the diffusion of innovation of previous new technology products in the region. Partnerships with artists, event organizers, and other end-user application entities are other growth strategies adopted by vendors in the earphones and headphones market. Wearables are the next big thing when it comes to the adoption of technologically advanced electronics. The increasing number of smartphones is driving the global smart headphones market as the most tech-savvy and early adopters prefer them over normal wired or wireless headphones. With the increasing penetration of smartphones and connected mobile devices and the use of such devices to stream music or watch videos, the demand for headphones is growing. For instance, Sony offering a wide range of wired and wireless headphones in the global headphones market. The company earned a reputation by incorporating the latest technologies for noise cancellation, resonance control, and improved soundstage for users.
The entry of electronic PCs, tablets, and TV manufacturers such as Samsung, Sony, and Apple in the market has increased the sales of headphones through retail stores such as electronic stores and supermarkets worldwide. Using online sales primarily helps the vendors to promote the concept and use of Bluetooth devices and technology. Social media is becoming another major influencer in purchase decisions in the global headphones & earphones market. Online sales accounted for 85% of the market in 2019, which is expected to further increase around 4% during the forecast period.
2. True Wireless Headphones Market - Global Outlook and Forecast 2021-2026
The global true wireless headphones market is expected to reach USD 17.54 billion by 2026. The global true headphones market witnessed tremendous growth over the last few years, mainly due to the rise in internet and connected devices. The introduction of true wireless headphones and their unprecedented adoption among consumers is a major trend worldwide. The major vendors have also rolled out the latest wired and wireless headphones, including in-ear, over-ear, and on-ear models. True wireless earbuds are at the forefront of leading technological innovations in headphones, some vendors have started to incorporate innovative technology such as active noise cancelling, gesture recognition and control, active head tracking, and more.
Vendors need to remain abreast of the latest customer demands and trends in the true wireless headphones market as well as updates in the field of Bluetooth, wireless innovations, and battery improvements. Smart true wireless headphones have witnessed major updates; vendors are increasingly enhancing the product materials and ergonomics, thereby providing convenience to users. Large number of smartphone manufacturers are entering the true wireless headphones market due to the high adoption among existing users of their smartphones.