Headphones & Earphones Market shipments to see 4% growth to 2024

OCEAN VIEW, Del., Aug. 8, 2017 /PRNewswire-iReach/ -- Rising adoption of portable devices such as smartphones, mobiles, laptops, and tablets will prominently drive headphones and earphones market size over the coming six years. 

As per the report by Global Market Insights, Inc.,"Worldwide Headphones and earphones industrycollected a revenue of USD 11.68 billion in 2015 and will record an annual growth rate of 4.6% over the period of 2016 to 2023." Incorporating advanced features such as Wi-Fi, Bluetooth, and infrared in these devices will also augment the industry growth. Now-a-days, headphones are extensively used in corporate offices, which will influence the market trends noticeably.

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Worldwide headphones industry is anticipated to be valued over USD 6 billion by 2023. The escalating emergence of innovative and technologically advanced products will stimulate industry growth over the coming timeframe.

Earphones market contributed to more than 70% of the overall share in 2015, driven by increasing usage of smartphones, rising consumer demand for portable entertainment devices, and growing disposable incomes.

Wireless and wired are the two main technology segments of headphones and earphones market. Wired headphones and earphones industry was worth more than USD 10 billion in 2015 and is predicted to exhibit a CAGR of 4.6% over the coming years of 2016 to 2023, driven by the growing trend of smartphones and portable media players.

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China, which accounted for a large chunk of APAC headphones and earphones industry share in 2015, is expected to drive the regional growth over the years to come. China headphones market is predicted to increase at a CAGR of 5.6% CAGR over the period of 2016 to 2023. The growing demand for electronic equipment such as headphones, earphones, mobiles, and smartphones will fuel the regional revenue.

North America headphones and earphones industry share accounted for more than 36% of the overall share in 2015.

U.S. headphones and earphones market will collect a revenue of more than USD 5 billion by 2023, increasing at a CAGR of 4.8% over 2016 to 2023.

Industry players will try to introduce technologically advanced products to combat the fierce competition. Key market players include Sennheiser electronic GmbH & Co. KG, Shure Inc., Bose Corporation, and Beats Electronics LLC.

Browse key industry insights spread across 300 pages with 296 market data tables & 31 figures & charts from the report,"Earphones And Headphones Market Size By Technology (Wired, Wireless), By Application (Consumer, Call Center, Industrial, Aviation, Construction, Public Safety), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, China, Japan, India, South Korea, Mexico, Brazil, Saudi Arabia, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 ? 2024" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/earphone-and-headphone-market

Browse Related Reports:

Smart Speaker Market Size By Technology (Bluetooth, Wi-Fi, NFC), By Product (Single Room, Double-Room, Multi-Room), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, South Korea, China, India, Japan, Brazil, GCC, Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 ? 2024

https://www.gminsights.com/industry-analysis/smart-speaker-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Media Contact: Arun Hegde, Global Market Insights, Inc., +18886890688, [email protected]

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SOURCE Global Market Insights, Inc.