The size of the global hearing aids and hearing aids market was valued at USD 25.1 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 20.3% between 2020 and 2027. consumer for an enhanced audio experience, growth of the music industry, along with mobile technology and internet penetration, are some of the main factors driving the market.
Reading: Headphone market size
Technological advances, such as the emergence of notchless smartphones, are anticipated to drive the growth of wireless earphones over the forecast period. In addition, the increasing inclination of consumers towards elegant and attractive designs is expected to drive sales of headphones and earphones during the forecast period.
The introduction of true wireless headphones has caused a paradigm shift in the way people listen to their music. These earphones provide the user with a tangle-free experience while listening to music as there are no wires connecting the left and right earphones. The headphones are compact and can be carried in a charging case, making them extremely portable. the style and portability of these products have made them popular with young audiences, athletes and fitness enthusiasts, which is expected to drive the market.
Technological advances are mainly due to the growing demand for style and high fidelity by consumers. The introduction of advanced features such as Active Noise Cancellation (ANC) and Near Field Communication (NFC) is expected to offer users an enhanced listening experience and seamless connectivity with their music devices. For example, the presence of active noise cancellation (ANC) technology in earphones and headphones eliminates background noise, thus improving sound quality. Near Field Communication (NFC) establishes the connection between the wireless headphones and the music device just by touching them together. These advanced features are expected to drive market growth.
The use of headphones and earphones for physical activities in various environmental conditions, such as rain and dust, has prompted manufacturers to add durability to their products. Several companies have manufactured their products with a certain IPX (Ingress Protection) rating, which is a safety rating for protection against dust and water. For example, ipx1 rated device is resistant to water droplets and can drip with water for 10 minutes. The protection level ranges from number 0 to 9 and goes up, with the highest level being ipx9, which offers protection against water spray from a high pressure nozzle. Similarly, for dust, the rating ranges from ip0x to ip6x, with ip6x being the highest. in some cases, the product may be both dust and water resistant. For example, IP57-rated products are dust-tight and waterproof to high-pressure sprays. The presence of such useful functions and significant development in the product’s technology are expected to maintain the demand for the product during the forecast period.
In terms of revenue, headphones dominated the market with a 53.0% share in 2019. This is attributed to the convenience of listening to music, low cost and compact size. The headphones’ lightweight design and portability make them the preferred choice of fitness and sports enthusiasts. In addition, the headphones provide good passive isolation from external sound, which translates into an immersive music listening experience for the user and is expected to drive the segment.
Bulky size and cost have reduced the popularity of in-ear and over-ear headphones in recent years. However, technological advances in these headphones with features such as Active Noise Cancellation (ANC) and Rich Bass Signature make them the preferred choice among the audiophile community. Oversized earcups allow manufacturers to equip earphones with electrostatic and dynamic sound drivers, resulting in clear and enhanced sound quality. companies such as bose corporation, sony corporation, sennheiser gmbh & co. kg and skullcandy.com are dedicated to improving the design and style of their headphones by offering foldable ear cups, leather ear cushions and better build quality, which is expected to keep the headphones trending among users.
In terms of revenue, the $50-$100 segment dominated the market with a 39.2% share in 2019. This is attributed to technological developments in this segment, which is primarily due to increasing demand for style and high fidelity by consumers. . In addition, the short cycle of product replacement has a positive impact on the adoption of hearing aids and hearing aids. The growing demand for an enhanced sound quality experience, coupled with the economic volatility associated with these devices, is driving the adoption of $50-$100 headphones and earphones.
The sub-$50 segment is anticipated to see significant volume growth over the forecast period due to growing adoption, particularly in emerging economies including India, China, Brazil and the Middle East. The wide availability of these products in this price category on e-commerce websites and retail outlets is likely to drive sales for the segment. furthermore, the presence of multiple players in the low-end category is expected to boost the segment. premium brands like skullcandy.com, xiaomi, koninklijke philips n.v., sony corporation, and jbl are some of the players offering their products in the low to mid-range price segment.
In terms of revenue, the wireless segment dominated the market with a 76.2% share in 2019. This is attributed to the introduction of truly wireless hearing aids and technological advances in bluetooth connectivity of wireless devices. Wireless headphones were first introduced by a company called Bragi, based in Munich, Germany. Meanwhile, the launch of Apple AirPods, Inc. in 2016, it shifted the momentum entirely from wired products to wireless products. Additionally, local players like Boat, Zebronics India Pvt. ltd., xiaomi, boult audio, gonoise, portronics and mivi are dedicated to offering wireless earphones at lower prices, which is expected to drive the segment further.
In addition, the introduction of smart features such as voice assistance, gesture recognition, fitness tracking, and usage detection to play and pause music is expected to increase the adoption of wireless headphones and earphones. Today, wireless earphones and headphones are also equipped with better Bluetooth technology to facilitate better connectivity over long distances and longer battery life for long hours of listening. These advanced features and continued innovations are expected to drive the market for wireless products. however, wired products are expected to maintain their market share in the future due to the low price, zero latency, and better audio quality these devices offer.
In terms of revenue, the music and entertainment segment dominated the market with a 41.6% share in 2019. This is attributed to the increasing adoption of headphones and earphones for casual music listening, use by of audiophiles and listening and creating sound. effects on the music and entertainment industry. The virtual reality applications segment is expected to see significant growth during the forecast period due to the increasing adoption of headsets and headsets in the education, construction, business, and military sectors, primarily for training purposes. For example, in the military, headsets are often used in conjunction with simulators to provide a realistic sound experience during training.
The fitness segment is expected to see strong adoption of wireless earphones, with the inclusion of fitness trackers and heart rate monitoring in the earphones. fitness trackers allow athletes and individuals to monitor and plan their daily training regimen, diet, calories burned, and distance traveled. Heart rate monitoring technology measures heart rate through the ears and transmits beats per minute (BPM) data to the smartphone app, which can be used to plan workouts. brands such as bose corporation, jabra, sony corporation and samsung electronics co., ltd. have introduced fitness tracking and heart rate monitoring.
In terms of revenue, Asia Pacific dominated the market with a 29.7% share in 2019. This is attributed to high smartphone penetration and rising disposable income in the region. Furthermore, several key business players are investing significantly in China due to the emergence of low-cost technology and the availability of cheap labor in the region. However, the increasing availability of counterfeit products designed and manufactured, especially in India, has allowed several key players to set up their manufacturing facilities in the region, resulting in market growth.
North America held the second largest market share in 2019, followed by Europe. this is attributed to the already established market, coupled with the high penetration of technology in these regions. The companies in this region focus on investing in R&D&i and continuous innovation in product development. In addition, the presence of the main industry players in the region, such as Apple Inc., Bose Corporation, GN Store Nord A/S, Harman International Industries, Incorporated and Sennheiser GmbH & co., kg, is expected to drive the market in North America and Europe.
key companies & market share information
The market is highly fragmented and characterized by high competition with the presence of major global players. These companies are especially focused on improving product quality by adopting advanced and innovative techniques to enhance their market presence and expand their geographic reach. For example, as of September 2018, Skullcandy, Inc. announced the launch of a new wireless headset known as riff wireless. riff wireless earphones are lightweight, feature a flexible headband, and are equipped with bluetooth and fast-charging technology.
Similarly, several key players are increasingly focusing on upgrading their network and customer base to deal with increasing competition from new providers. For example, in September 2018, Beats by Dre announced its merchandising and marketing partnership with the National Basketball Association (NBA). Through this partnership, Beats by Dre aspires to be the official and only wireless audio, headphone and speaker partner for the NBA. Some of the prominent players in the headphone and earphone market are:
harman international industries, incorporated
sennheiser electronics gmbh & co. kg
gn store nord a/s
headphones & headphone market report scope
market size value in 2020
34.8 billion dollars
revenue forecast in 2027
126.7 billion dollars
20.3% CAGR from 2020 to 2027
market demand in 2020
514.5 million units
volume forecast in 2027
1335.7 million units
14.6% CAGR from 2020 to 2027
base year for the estimate
2016 – 2018
2020 – 2027
volume in millions of units, revenue in millions of dollars and CAGR from 2020 to 2027
volume and revenue forecast, company ranking, competitive landscape, growth factors and trends
product, price, technology, application, region
north america; Europe; Pacific Asia; Latin America; me
we; Canada; UK.; Germany; France; China; India; Japan; Brazil; mexico
key companies profiled
apple inc.; sony corporation; bose corporation; sennheiser electronics gmbh & co. kg; skullcandy.com; harman international industries, incorporated; gn nord a/s store
scope of customization
Free report customization (equivalent to up to 8 analyst business days) with purchase. addition or alteration to country, regional & segment scope.
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segments covered in the report
This report forecasts global, regional and country volume and revenue growth and provides analysis of the latest industry trends and opportunities from 2016 to 2027 in each of the sub-segments. For the purposes of this study, Grand View Research has segmented global headphones and amplifiers; Headphones Market Report Based on Product, Price, Technology, Application, and Region:
Product Outlook (Volume, Million Units; Revenue, USD Million, 2016 – 2027)
pricing outlook (volume, million units; revenue, million dollars, 2016 – 2027)
less than 50 dollars
between 50 and 100 dollars
over 100 dollars
Technology Outlook (volume, million units; revenue, million dollars, 2016 – 2027)
App Outlook (Volume, Millions of Units; Revenue, Millions of Dollars, 2016 – 2027)
music and entertainment music
Regional perspective (volume, million units; revenue, million dollars, 2016 – 2027)
middle east & Africa