Earphones and Headphones Market to grow at 4% CAGR from 2017 to 2024

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Earphone and Headphone Market Present
Efficiencies and Future Challenges from 2017 to
2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Earphones and Headphones
Market

• Earphones and Headphones Market size is set to
  exceed USD 25 billion by 2024 global shipments
  will grow at nearly 4 CAGR estimation, according
  to a new research report by Global Market
  Insights, Inc. Advancements in wireless
  technologies such as Wi-Fi, Bluetooth, and
  Infrared (IR) are expected to drive the overall
  earphones and headphones market growth. Wireless
  technology development can be majorly credited to
  the exclusion of headphone jacks from
  smartphones the technology has become more
  affordable and is replacing the need for physical
  cabling. Manufacturers are now providing wireless
  headsets with high audio quality, which is
  expected to drive the overall earphones and
  headphones market over the future.
• The industry is anticipated to witness growth
  over the forecast timespan owing to the rising
  demand of several applications including
  industrial, aviation and public safety. Surge in
  the sales of smart mobile devices has fueled the
  demand for Bluetooth enabled earphones and
  headphones, which is anticipated to boost the
  industry demand across the globe. Developments in
  the design engineering to offer compact and
  light products along with declining earphone and
  headphone market price trend is propelling the
  industry growth.

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Continued...

• A key challenge in the earphones and headphones
  market is the availability of counterfeit
  products. Since a few years, several product
  replicas have given rise to competition for core
  giants and creating a dent in their market share.
  The presence of low-cost knockoffs also poses a
  threat for the earphones and headphones market
  growth.
• 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.
• In ambulances, the system allows hands-free
  communications for drivers and medics. It permits
  the medics to efficiently communicate over the
  dispatch radio by using footswitches while
  supporting the patients. The wired and wireless
  systems enable the crew to ensure continuous
  communications with mobile dispatchers.

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China earphones market size, by application, 2016
2024 (USD Million)

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Continued...

• 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.
• Some of the earphones and headphones market
  participants are Apple, Inc., Bose Corporation,
  David Clark Inc., Harman International, Inc.,
  JVC, Koninklijke Philips N.V., Sennheiser
  Electronic, Skullcandy, Inc., Sony Corporation,
  Grado Labs, Audio Technica Corporation, etc. The
  earphones and headphones market is still growing
  steadily, and is characterized by fierce
  competition. The industry demands modernization,
  with players placing additional importance on
  unceasing developments in enhanced
  noise-cancelling functionalities, sound quality,
  wireless technologies, with major focus on
  feature oriented systems which are helping in
  rapid growth.

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