"Assisting You in Establishing Data Driven Brands"
A headphone is a pair of earpieces attached by a band positioned over the head, for listening to audio signals like speech and music. The benefits of using headphones are it provides better isolation from the outside world, gives the ability to focus, prevents it from damaging the hearings, and others. And thus these benefits also act as fostering factors for the growth of the market. According to The Verge, May 2019, Bose declared the launch of $399 Noise Cancelling Headphones 700. It comes with four mics, and the company makes big assurances about its voice isolation abilities and noise-canceling. This launch will challenge its competitors to come up with more innovative headphones and will help to foster the growth of the market.
Furthermore, increasing growth of the gaming industry act as one of the major factor for the growth of the market. Especially, in most online gaming listening and talking to other players is required to be able to play the game and this drives more gamer to own a headphone which is resulting to the increase in consumption of the product. Additionally,
the increasing smartphone users also act as one of the driving factor for the growth of the market as it has the ability to be connected with the device to able to listen to music or speech with focus.
Moreover, different companies like Sony, Samsung, JBL, and others are trying hard to come up with innovative headphones that feel and sounds better so as to be able to grab more customer to their products act as one of the propelling factor for the growth of the market.
Rising growth of the music industry is one of the major factors which propels the growth of the market. This is because music genres such as hip-hop, pop, rock, EDM, and others has a huge audience worldwide and also most people prefer to listen to those songs repeatedly using a headphone and thus this act as one of the fostering factor for the growth of the market. Furthermore, vital music videos and audio which are gaining more listeners across the globe act as one of the increasing factors for the growth of the market. According to FIPI 2018, the global recording industry has a revenue of 19.1 USD billion in which 58.9% digital channel, 32.9 % is paid steaming, and A& R marketing.
The innovation of 3D surrounds sound headphones which has the ability to take the user to a whole new dimension while listening can act as an opportunity for the growth of the market.
Key Market Driver -
Raising growth of music industry is propelling to rise in demand of headphone which act as one of the main driving factor for the growth of market.
Key Market Restraint -
The availability of counterfeit products in the market acts as one of the restraining factor which hampers the growth of the market
However, the presence of a large number of counterfeit products at a lower price is attracting more people in this type of product which is resulting to hamper and restraint the growth of the market.
The major key players which are operating in the headphone market include Skullcandy, Inc.; Bose Corp.; Sennheiser Electronic; and Shure, Inc, Apple, Inc.; JVC; Sony Corp.; Skullcandy, Inc.; AKG Acoustics GmbH/Austria. These players are aiming to manufacture products that have better battery life, more durable, better looking, better sound quality, and others to meet the demand of today’s consumers.
The global headphone market is segmented into by technology, by distribution channel, by application, and by region.
Based on technology the market is segmented into wired and wireless. Wired segment is anticipated to hold a larger share in the market since wireless headphones are costlier and most of the batteries doesn’t last long enough to meet the consumer’s requirements.
Furthermore, based on the distribution channel the market is grouped into hypermarket/supermarket and online. Online distribution channel acquires more share as compare to hypermarket/supermarket because of availability of more discounts, more varieties, and the ability to get delivered at home or office.
On the basis of application, the market is fragmented into gaming, music& entertainment, virtual reality, and others. Music & entertainment is considered to hold the major share because a large portion of the global population has more interest in music & entertainment.
According to geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
North America is the dominating region and is expected to contribute its dominance during the forecast period. Some of the factors which contribute to the growth of the market in this region are the availability of more quality headphones, the presence of large music audience, home of the world largest music and entertainment industries and others. Additionally, the availability of numbers of video and audio recording studios in this region also propels the demand of the product in this region.
The Asia Pacific is the second dominating region and is projected to be the fastest-growing region. The contributing factors which drive to the growth of the market in this region include changing culture and lifestyle, the advancement of technology, an increase in disposable income, urbanization, and others. According to IFPI, Asia Pacific is showing a music industry growth revenue of 5.4% in 2017 which is one of the propelling factor for the growth of the market.
To gain extensive insights into the market, Request for Customization
By Distribution Channel
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry