Headphones are a sets of small speakers that is used to listen sound from music player, a computer, or other electronic device. Headphones formerly comprised one speaker for each ear, attached by a band over the head. Though the style is still in trend, the latest headphones are considerably smaller, which are inserted into the ear, and are called earbuds. Presently, headphones can be either wired or wireless.
Rise in the number of portable or smartphone devices, access to video and music content on-the-go, and the rapid expansion of the music industry are key factors boosting the global headphones market. Moreover, the global headphones market is driven by the rising demand for portable devices that offer superior sound and a boosted audio experience. Furthermore, advances in nano-chip technology have prompted manufacturers to reduce the size of the headphones, which has led to the development of wireless headphones that fit seamlessly in the human ear.
Additionally, improved standard of living and rise in disposable income are projected to offer significant opportunities to the global headphones market. Moreover, increased utilization of headphones across offices and gyms is expected to drive the headphones market during the forecast year.
The global headphones market can be segmented based on headphone type, type, connectivity, application, feature, microphone availability, distribution channel, and region. In terms of headphone type, the market can be divided into in ear, on ear, and over ear. Based on type, the market can be bifurcated into smart headphones and non-smart headphones. Based on connectivity, the market can be classified into wired headphones and wireless headphones. The wireless headphones segment is further sub-segmented into Bluetooth, radio frequency, and NFC. In terms of application, the market can be divide into music and entertainment, gaming, sports and fitness, and others (travel, home & TV audio).
Based on feature, the headphone market can be split into noise cancelling, water resistance, and others. In terms of microphone availability, the market can be segregated into with microphone and without microphone. Based on distribution channel, the market can be bifurcated into online sales channels and offline sales channels. The offline sales channel segment can be sub-divided into hypermarkets & supermarkets, convenience stores, independent electric stores, and department stores.
In terms of region, the global headphones market can be segmented into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA). The North America market comprises the U.S., Canada, and Rest of North America. Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa comprises GCC, South Africa, and Rest of Middle East & Africa. South America consists of Brazil, Mexico, and Rest of South America. In 2018, the Europe and North America dominated the global headphones market. They are expected to maintain their dominance during the forecast period, owing to significantly high rate of adoption of technology by developed countries in these regions. However, the market in Asia Pacific estimated to expand at a rapid pace in the near future, due to a rise in disposable income of consumers in developing countries, such as China and India, in the region.
Key players operating in the global headphones market include Apple Inc., Bose Corporation, Samsung Group, Sennheiser electronic GmbH & Co., Skullcandy Inc., Sony Corporation of America, Harman International Industries (JBL), Xiaomi Corporation, Pakushve Marketing, LLC (BOAT), Motorola, Inc., Koninklijke Philips N.V., Zound Industries (Marshall), Bowers & Wilkins, Shure Incorporated, and Panasonic Corporation of North America.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.