Millennials are Propelling the Demand for Smart Headphones - Arizton

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Sep 20, 2021, 12:00 ET

CHICAGO, Sept. 20, 2021 /PRNewswire/ -- Headphones have a special place in every music lover's life. From listening to John Legend when feeling loved to electrifying EDM to get the party started, there is a headphone for every mood, music, taste, and person. A headphone, for a universal language such as music, is one of the best medium to indulge in this magic. A cocoon where you're the protagonist of your own movie with the background score of your liking. Headphones and earphones market is ever evolving with new products being introduced every now and then. Observing these rapid and drastic changes in demand and supply patterns encouraged the industry analysts at Arizton to publish exhaustive and data-driven insights on these current trends in the industry. Arizton employs a comprehensive and iterative research methodology focused on minimizing deviance to provide the most accurate estimates and forecast possible.

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Sports Headphones Market - Global Outlook and Forecast 2019-2024

The sports headphones market is expected to reach USD 5.27 billion by 2024 growing at a CAGR of 14.65%. The fitness & wellness industry is growing rapidly and, in turn, propelling the sale of headphones every year. As the smart headphones segment holds the potential to become the central node of the connected world, vendors are upgrading their products. The threat of new entrants is high since it is an attractive market due to the rising demand for sports headphones across the globe and the presence of low entry barriers for well-funded audio-tech start-ups. As the demand for headphones, in general, is increasing at a steady rate in recent years, many vendors are venturing into the market, especially in the low to medium price range, which may skew the inclination of consumers towards cheaper models with low ingress protection and few gestures or biometric features.

Europe is the biggest market for sports headphones and is expected to reach revenue of USD 2097.88 million by 2024. A major trend being witnessed worldwide is the introduction of true wireless headphones and their unprecedented adoption among consumers. The true wireless headphones have led to several innovations in the overall headphones market with the prime features being gesture controls, haptics, and accurate biometric monitoring.

Active Noise Cancelling (ANC) Headphones Market - Global Outlook and Forecast 2019-2024

The active noise cancelling (ANC) headphones market is expected to reach USD 9.25 billion by 2024 growing at a CAGR of 14.02%. True wireless earphones are the new buzz in the market. The active noise cancellation technology identifies unwanted ambient sounds using dedicated external or internal microphones and emits other sounds to counterbalance them. It is highly effective against continuous mechanical noise and is also able to cancel sounds such as human talk.

The rising memberships at fitness clubs will undoubtedly drive the demand for headphones globally. ANC headphones market will especially see a boom as they allow the users to tune out distractions while enjoying their audio and give full control over sound allowance and ambient noises. Over-ear headphones offer features such as hi-fidelity sound and active noise cancellation, thus are creating a buzz in the global headphones market. North America region contributed the highest share in the ANC market and is expected to reach USD 2813.16 million in 2024 and is attributed to the increasing use of headphones as fashion accessories by consumers. A major trend being witnessed worldwide is the introduction of true wireless headphones and their rapid adoption among consumers. The concept of true wireless headphones was commercially launched by Bragi when it launched its earbuds, 'The Dash' in 2015.

Wireless Headphones Market - Global Outlook and Forecast 2019-2024

The wireless headphones market is expected to reach USD 33.92 billion by 2024 growing at a CAGR of 19.76%.

The increase in the number of smartphones is driving the global wireless headphones market. Most tech-savvy and early adopters now prefer them over normal wired or wireless headphones. The incorporation of advanced technological features such as noise cancellation, biometric monitoring, improved sound quality, and water resistance is turning the existing headphones obsolete quickly. This trend is expected to drive the global wireless headphones market during the forecast period. The US is a leading market for wireless headphones. The North America market is expected to reach USD 10.88 billion in 2024 and is majorly driven by millennials. The intensely competitive environment among leading vendors is expected to continue during the forecast period because of the need to include wireless headphones with innovative features in their portfolio.

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Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

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