Global Headphone Market 2017-2021
Headphones are used for listening to audio signals such as speech or music from video and audio devices such as radios, smartphones, MP3 players, desktops, gaming consoles, laptops, and other portable devices. Many headphones are equipped with microphones that allow users to communicate.
Technavio’s analysts forecast the global headphone market to grow at a CAGR of 5.46% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global headphone market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of headphonesThe market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Headphone Market 2017-2021
Technavio recognizes the following companies as the key players in the global headphone market: Beats Electronics, Bose, Sennheiser, Skullcandy, and Sony.
Other Prominent Vendors in the market are: AIAIAI, AKG Acoustics, Apple, Audio-Technica, Beyerdynamic, Creative Technology, Denon Electronics, Grado Labs, House of Marley, Jays, JBL, JVC Kenwood, Logitech International, Molami, Monster, Panasonic, Parrot, Pioneer, Shure, SMS Audio, Sol Republic, Urbanears, and Westone Laboratories.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing consumer awareness. Consumers have always been victims of counterfeit mobile accessories in the past, and the issue is predominant in APAC, which is considered as the hub for counterfeit products. With the advent of social media, an increasing number of customers are becoming more aware of specifications, look, and style. The future of the global headphone market from a vendor's point of view will depend on the amount allocated to the R&D sector and on how it intends to satisfy customers' expectations in terms quality of service and quality of experience.”
According to the report, one of the major drivers for this market is rapid growth of sports headphones. Biometric sports tracking headphones have rapidly gained prominence in the market since their inception. These headphones can be used to track heart rate, measure distance covered, and calculate calories burned during a workout. Though there is no shortage of heart rate monitors in the market, for many users, headphones are a part of their training gear.
Further, the report states that one of the major factors hindering the growth of this market is increasing popularity of counterfeit headphones. The availability of counterfeit products in the market is a major concern for headset manufacturers. APAC is considered as the hub for counterfeit products because the products are easily available at very low prices. Many people are buying such products because they are cheap and copies of big brands. The products are sold at less than a quarter of the price of the original product. Counterfeit products are eating into the market shares of leading vendors, resulting in huge losses.
Beats Electronics, Bose, Sennheiser, Skullcandy, Sony, AIAIAI, AKG Acoustics, Apple, Audio-Technica, Beyerdynamic, Creative Technology, Denon Electronics, Grado Labs, House of Marley, Jays, JBL, JVC Kenwood, Logitech International, Molami, Monster, Panasonic, Parrot, Pioneer, Shure, SMS Audio, Sol Republic, Urbanears, and Westone Laboratories.