Wireless Headphones Market to Grow at a CAGR of 8.1% by 2019-2026
According to a new report published by Acumen Research and Consulting titled “Wireless Headphones Market (By Type: Earbud Earphone, Canal Earphone; By Connectivity: Wi-Fi, Bluetooth; By Application: Music and Entertainment, Sports and Fitness, Gaming and Virtual Reality; By Market Type: Mobile Inbox Market, Mobile Aftermarket; By Distribution Channel: Online Stores, Offline Stores [Hypermarkets/Supermarkets, Multi-brand Electronics Stores, Exclusive Showrooms) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 – 2026”, the global market for wireless headphones is estimated to grow at a rate of 8.1% during the forecast period. Among the major factors responsible for this astounding growth are the increasing smartphone users in emerging economies of Asia Pacific, and Latin America. Moreover, the technological advancement in order to enhance the features of wireless headphones boosts the growth in wireless headphones market.However, the market for wireless headphones is likely to get restricted owing to its increased cost over wired headphones.In addition, the lack of internet facility in countries such as India, Bangladesh, Thailand, and African nation are the major challenges faced by the wireless headphones market. As per industry experts, only 13.5% of the African population had internet access by 2013. The poor rate of internet availability is one of the major restraining factor for the growth of wireless headphones market.
Wireless headphones are electronic accessories, which are connected to television, smartphones, speakers, personal computers, laptops, and tablets without a cable. Wireless headphones enables the user to move around easily as they are not connected to the electronic devices with a cable or wire.
Asia Pacific to be the most attractive market for wireless headphones during the forecast period
The market for wireless headphones has been segmented by region as North America, Europe, Asia Pacific and Rest of the World. North America was the largest market for wireless headphones in 2013 due the matured smartphone market in the region. Also, the easy availability of internet facility supported the growth of wireless headphones in the region. However, Asia-Pacific is anticipated to be the most lucrative market for wireless headphones to throughout the forecast period on account of rising number of internet and smartphone users. It is projected that approximately 70% of the population in Asia are smartphone users. In 2018, around 58% of Chinese population were smartphone users. As per industry experts, India is anticipated to have more than 800 million smartphone users by 2022. Growth in the number of smartphone users is likely to boost the market for wireless headphones in the region.
Countries such as Brazil, Colombia, Chile and Mexico are likely to attract the manufacturers of wireless headphones in coming five years owing to the growing number of smartphone users and availability of internet facility.
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Online stores to be the most lucrative distribution channel of wireless headphones market
Based on distribution channel, wireless headphones market has been bifurcated into online and offline stores. Offline stores have been further segmented as hypermarket/supermarkets, multi-brand electronic stores, and exclusive showrooms. The online distribution channel is anticipated to be the most attractive distribution channel during the forecast period owing to the rise in online shopping. Users are now more inclined towards online mode of shopping as it saves the travelling time.
Canal headphones preferred over earbud headphones
Based on type, wireless headphones market has been divided into earbud headphones and canal headphones. Canal headphones are preferred over earbud headphones as they provide comfort from its firm rubber fits. They also offer better sound quality as they have noise cancellation features and increased bass feature.
Bluetooth accounted for major share for wireless headphones market
Based on connectivity, wireless headphones market has been segmented into bluetooth and wifi. Bluetooth accounted for the maximum share of wireless headphones market in 2013 as these features are in-built in phones and hence the users are don’t have to pay extra money to avail the feature like in the case of wifi. Bluetooth also offers easy in installation and hence were preferred over wifi.
Some of the leading companies operating in wireless headphones market include Apple Inc., Xiaomi, Panasonic, Sony Electronics, Jabra, SkullCanady Inc., OnePlus, Bose Corporation, Nokia, Motorola Inc, Samsung Group, Harman International Industies, and Sennheiser electronic GmbH & Co. These key players are actively involved in technological development in order to enhance the features of the wireless headphones. These players have also adopted the strategies such as merger and expansion in order to compete in the global wireless headphones market.
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