Research Report on Southeast Asia Headphones Industry 2023-2032
With the rapid economic development in Southeast Asia, the middle class is expanding, the standard of living is gradually improving, the demand for cell phones, tablet PCs and other consumer electronics products rise. And to meet the demand for listening to music, voice and video calls, watching movies and other entertainment needs, headphones as one of the tools for electronic products to play sound, but also gradually popular in Southeast Asia, Southeast Asia headphone industry has a broad future development prospect.
At the same time, Southeast Asia has cheap and sufficient labor, lower land costs and favorable policy support, attracting global headphone manufacturers to shift production capacity to Southeast Asia. Taking Vietnam as an example, in 2019, Amphion International Ltd. started construction of its headphone production plant in Vietnam, Apple also gradually shifted its wireless headphone production line to Vietnam, and in 2022, Goel expanded its investment capital by US$306 million for its electronics and multimedia equipment factory in Bac Ninh province.
Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.
According to CRI's analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$73,000 in 2021. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2021. The population and minimum wage levels of each country also vary greatly. Brunei, which has the smallest population, will have a total population of less than 500,000 people in 2021, while Indonesia, which has the largest population, will have a population of about 275 million people in 2021.
CRI expects that the size of the Southeast Asian headphone market will continue to grow from 2023-2032, while more headphone manufacturers will build factories in Southeast Asia, making Southeast Asian headphone production rising.
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