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Global Earphones and Headphones Market to Grow at a CAGR of 20.50% During 2022-2027, Aided by the Rising Digitalisation

According to a new report by EMR titled, ‘Global Earphones and Headphones Market Report and Forecast 2022-2027’, the market is expected to witness a healthy growth in the forecast period, growing at a CAGR of 20.50% between 2022 and 2027. The market is projected to reach USD 112.9 billion by 2027.

The global earphones and headphones industry is being driven by the increased number of smartphone users globally. This can be attributed to the rising disposable incomes and improved living standards of consumers. In addition, the growing demand for improved audio devices to enhance listening experience while playing video games and watching movies is also projected to significantly catalyse the industry growth in the coming years. Moreover, the growing demand for wireless earphones and headphones among the fitness enthusiasts is also predicted to add to the industry growth.

The growing focus of the leading players in the development of innovative earphones and headphones is estimated to significantly catalyse the industry growth in the forecast period. For instance, in December 2020, Apple Inc. (NASDAQ: AAPL) announced the launch of its new AirPods Max wireless headphones to provide users with an over-ear design and high fidelity sound. These headphones come with an acoustic design, H1 chips, and an advanced software to power computational audio with adaptive EQ, active noise cancellation, and spatial audio. Furthermore, another leading earphones and headphones manufacturer, Jabra, a subsidiary to GN Store Nord A/S (OTCMKTS: GNNDY), launched its new Evolve2 75 headset in October 2021 to aid with productive hybrid working. The headphones offer advanced active noise cancellation and exceptional 8-microphone technology for clear calls. These developments are expected to positively impact the growth of the earphones and headphones industry in the forecast period.

Market Breakup by Product, Price, Technology, Application, and Region:

  • The market is divided, based on product, into earphones and headphones.
  • On the basis of price, the market can be distributed into less than 50 USD, between 50 to 100 USD and above 100 USD.
  • The industry is segmented, on the basis of technology, into wired and wireless.
  • On the basis of application, the market can be categorised into fitness/sports, virtual reality, gaming, and music and entertainment.
  • Region-wise, the global market for earphones and headphones can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for earphones and headphones is being driven by the rapid adoption of digital devices among consumers.
  • The growing demand for enhanced sound quality and ease of usage has significantly contributed to the market expansion.
  • The rising disposable incomes and improved living standards of consumers are also aiding the industry growth.
  • The rapid technological advancements are further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for earphones and headphones for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the products, prices, technologies, applications, and major regions of earphones and headphones.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global earphones and headphones market are Apple Inc., Bose Corporation, Logitech Inc., Panasonic Corporation, Sennheiser Electronic GmbH and Co. KG, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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