The global bluetooth headphones market was valued at USD 8 billion in 2019. The market is anticipated to expand at a high CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to rising penetration of smart gadgets, including smartphone, television, tablets, and laptop.
Amalgamation of several technologies such as on-bound storage, gesture recognition, and hand free calling have a positive impact on the market growth. Demand for bluetooth headphones is estimated to rise during the forecast period on account of their convenience. Bluetooth headphones are likely to witness steady growth, due to its high quality and clear sound.
In the digital world, data is easily available and consumers usually educate themselves before buying. According to studies, demand for high-quality sound is increasing among consumers at a global level. They are keen to spend about USD 145 to USD 300 on high-quality headphones. People consider features such as quality, noise cancellation, sound, and overall aesthetic before buying the product. Such factors are projected to positively affect the market in the coming years.
Growing adoption of wireless headsets among sport and fitness enthusiasts is predicted to propel the demand for bluetooth headphones during the forecast period. Manufacturers such as Sennheiser, Bose Corporation, Apple Inc., and Sony Corporation are incorporating several innovative technologies including biometrics in headsets, due to rising demand for features such as heart rate monitor, calorie counter, and calculation of distance and time among athletes and sportspersons. Such improvements are anticipated to increase the demand for wireless headsets throughout the forecast period.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing popularity of bluetooth headphones, due to their ability to sync with smartphones, is expected to increase the market growth.
- Bluetooth headphones do not consist of wires unlike wired headphones, which get tangled and leads to breakage of the wire. This can fuel the demand for bluetooth headphones in the global market.
- Changing lifestyles lead to people using wireless headphones and other modern devices. This is responsible for boosting the demand for bluetooth headphones.
- Growing acceptance of sports and fitness bluetooth headphones by athletes and sportspersons has increased the demand for the product.
- Features such as noise cancellation techniques that facilitate a better listening experience is a key driving factor.
- Disadvantages such as limited battery life, frequent recharges, and others may hinder the market growth during the forecast period.
- Some manufacturers are developing and innovating bluetooth headphones to decrease their size and upgrade them, which is presenting numerous opportunities for the expansion of the market.
Scope of the Report:
The report on the global bluetooth headphones market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been involved in this report.
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Attributes
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Details
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Report Title
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Global Bluetooth Headphones Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Products (Over Ear, In Ear, and On Ear), Distribution Channels (Exclusive Store, Multi-branded Store, and Online Retail)
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Regional Scope
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Asia Pacific, Europe, North America, Latin America, and Middle East & Africa
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Report Coverage
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Company Share, Growth Factors, Market Analysis and Size, Competitive Landscape, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Apple Inc., Koninklijke Philips N.V., Sony Corporation, Sennheiser electronic GmbH & Co. KG, Bose Corporation, Plantronics, Inc., Audio-Technica, SAMSUNG, Panasonic Corporation, and Skullcandy.com
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Market Segment Insights:
Based on products, the market is segmented into over ear, in ear, and on ear. Battery life, noise cancellation, lightweight, USB-C, and integration of voice assistance are the factors propelling the demand for the in-ear segment during the forecast period. Moreover, addition of advanced biometric sensors in headphones is expected to increase the demand for bluetooth headsets in sport and fitness activities, as they support heart monitoring. The over ear segment is anticipated to register a CAGR of 13% from 2021 to 2028. Advanced design and integration of chips offers fast connection, convenience, increased talk time, and integration of noise cancellation facilities, which boost the adoption of over ear headsets. Furthermore, companies such as Bose, Sony, and Sennheiser are introducing headsets with built-in voice max microphone that enables them to conduct crystal clear conversations. This is expected to fuel the market.
On the basis of distribution channels, the market is classified as exclusive store, multi-branded store, and online retail. The online retail held a major share of 49% in 2018. India and China are the major revenue contributors in the market and are going through a phase of digital revolution, which is likely to change the shopping behavior of customers. Changing customer preferences, growing disposal income of households, increasing penetration of smartphones, and extensive exposure to digital media are anticipated to positively affect the market. Online retailers including Amazon and eBay, combined with the local players such as Taobao, Flipkart, and JD.com are acquiring a key market share in India and China, mainly in mobile phone accessories and devices. Recently, Flipkart, a homebased e-commerce giant, is setting up India’s largest logistic park near Bengaluru. This center will act as a nerve of logistic system, supporting the company in reducing prices and delivering products rapidly. These initiatives are projected to increase the sale of electronic goods, including bluetooth headphones over online channel during the forecast period.
In countries such as US and the UK, popularity of multi-branded stores and online sales is rising. The key reason for the increasing popularity of order-online and collect-in-store system is proximity. Several customers want products to be delivered quickly, hence they order online. For example, Amazon is building warehouses to allow fast pickups and creating Amazon lockers that are situated in convenient locations in major cities and towns.
The multi-branded store segment is likely to expand at a CAGR of 12% from 2021 to 2028. Rising occurrence of these stores in emerging countries such as India, China, and Brazil are propelling the sale of bluetooth headphones in the coming years. Recently, Great Eastern has decided to set up around 10 new stores across India. Furthermore, retail chain operators including Great Eastern, Vijay Sale, and Adishwar are entering Tier II and III cities in India, which is projected to grow product visibility, thus boosting the demand for Bluetooth headphones throughout the forecast period.
In terms of regions, the global bluetooth headphones market is categorized into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific held a major share of 34% in 2018. In today’s digital era, all things revolve around smart devices, such as personal computers, smart phones, laptops, and television sets. Moreover, customers are looking for headphones to use on the go, which can connect to all these smart devices. Growing penetration of jack less mobile phones, combined with rising expenditure on electronic goods in countries like India and China, is fueling the demand for bluetooth headphones during the forecast period.
The market in North America is likely to record a CAGR of 13% from 2021 to 2028. Growing penetration of bluetooth headphones in the electronics market is anticipated to increase the demand for bluetooth headphones throughout the forecast period. High market presence of smart devices in the US and Canada is likely to raise the demand for Bluetooth headphones in the region. Additionally, increasing preference for sound-assisted and Wi-Fi enabled headphones plays a major role in the market growth.
Segments
The global bluetooth headphones market has been segmented based on
Products
Distribution channels
- Exclusive Store
- Multi-branded Store
- Online Retail
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Competitive Landscape
Major manufacturers competing in the global bluetooth headphones market include Apple Inc., Koninklijke Philips N.V., Sony Corporation, Sennheiser electronic GmbH & Co. KG, Bose Corporation, Plantronics, Inc.; Audio-Technica, SAMSUNG, Panasonic Corporation, and Skullcandy.com.
Some of these businesses are involved in adopting numerous market strategies such as merger & acquisitions, collaborations, partnerships, product launches, R&D activities, and capacity expansion to increase their market share and global presence.
Recently, Sennheiser introduced two new pairs of headphones from its range of wireless earphones. The Sennheiser CX350BT and CX150BT wireless headphones are now available in India, priced at Rs. 7,490 and Rs. 4,990 respectively. Both are available through online marketplaces as well as offline retailers.
Rowkin LLC, a US-based manufacturer designed the world’s smallest wireless headphones with touch control, deep bass driver, and quick pairing for Android. Additionally, it developed deep bass sound, 15+ hours bluetooth, mini earphones & charging case, mic & noise reduction for Android & iPhone.
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