Headphones Market
Headphones have undergone a number of advancements since the time they were used by telephone operators. Nowadays, headphones have become stylish in appearance and efficient in sound quality and performance. The evolution in technology and the growth of the music industry have revolutionized the way people listen to music. Currently, there are many ways to listen to music, including smartphones and handheld portable devices such as iPods, MP3, and MP4 players, and several online music sites. Music enthusiasts are investing in high-quality headphones and compatible portable devices for enhanced audio experience and sound performance.
A recent report published by Beige Market Intelligence on “Global Headphone Market – Strategic Assessment and Forecast 2022,” provides a detailed study of the market size of the global headphones market both in terms of revenue and shipment. The analysis of the global headphone market provides some interesting facts about the key regions such as Europe, which is going to contribute the maximum revenue toward the global market revenue.
The global headphones market can be broadly divided into the following five regions:
- Europe: Europe is the largest market in terms of volume (shipment) and value (revenue), and it is strongly influenced by the popularity of music in Western Europe and the Scandinavian region. The penetration of smart headphones in this region is high as it is technologically advanced
- North America: North America is the second largest market in terms of volume (shipment) and value (revenue) as the region is heavily influenced by advanced technology adoption in the US
- APAC: The market in this region is driven by a high population and an increased disposable income of the middle-class population. Developed economies such as Japan and South Korea are considered as innovators in the market
- MEA: The market in this region is growing, and the demand for earbuds and headphones that are noise cancelling specific, is expected to significantly increase among audiophiles in the region in the future
- Latin America: The market in the region is expected to grow faster than the overall global market in terms of shipments, which is closely linked to the device adoption rate
Headphones Market in Europe
The growth of the headphones market in Europe is majorly influenced by the popularity of music among people. An average individual in Europe listen to the highest music than other regions. Therefore, the demand for headphones is the highest in the region.
However, the shipment in this region has been affected majorly by the Eurozone crisis, which has brought uncertainty in the consumer buying behaviour. The economic recession has driven market vendors to sell their products at lower prices. The market in Europe is also hindered by low attachment rates of smartphone accessories. In 2016, the attachment rate was 25%, indicating 75% of the consumers in Europe are not buying headphones from their smartphone manufacturers. One of the major reasons for this is the price premium associated with branded accessories. Consumers prefer to purchase low-priced accessories from local vendors. This trend is prominent in the Eastern European market.
The report also includes a detailed study of growth drivers, trends, and restraints. It also studies the competitive landscape and includes the leading vendors in the market.
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