Market Overview
The global Smart
Headphones Market size is projected to reach USD 41.0 million by 2026, with
~72% CAGR during the forecast period.
Smart headphone is a
device, that performs various functions such voice-based personal assistants,
contextual location-based suggestions, as fitness & heart rate tracking,
environment-based noise suppression or audio enhancement, and gesture & touch-based
control along with is primary function of listening to audio signals.
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New enhanced features
offered by smart headphone devices including noise cancellation, water
resistance, and high-definition (HD) sound format are expected to drive the
industry growth over the forecast period. Growing adoption of wireless devices
with incorporated music player is expected to be a major factor driving market
growth over the next seven years.
Key Players
The major players operating
in the global Smart Headphones Market are Apple Inc., Bose Corporation, Bragi,
Huawei, Intel Corporation, LG electronics inc., Muzik, Sennheiser, Sony
Corporation, Streamz, Skullcandy, Samsung Electronics, and Koninklijke Philips
N.V.
Major company participants
have emphasized on expanding its market presence and provide competitive audio
solutions with high noise cancellation and better connectivity. These major
companies are trying to obtain a key competitive advantage on the basis of
price and product offerings. A large number of headphone manufacturers are
integrating backward in order to ensure a stable and reliable supply of
components which is expected to result in higher profit margins.
Key companies in the market
include Sennheiser, Samsung, Bragi, LG, Valencell, ChipSip, Sony, Huawei, and
Cosinuss. Research and development investment is significantly high in the
market as the manufacturers constantly try to develop various breakthrough
technologies in an attempt to provide the enhanced state of the art products to
meet evolving consumer needs.
Smart Headphones Market - Segmentation
By
Type:
On
the basis of type, the market is segmented into in ear, on ear, and over ear.
Among these, the in-ear segment is expected to grow with the highest CAGR
during the forecast period. The growing demand for the in-ear types headphones
are acting as key factors responsible for the growth of this segment in 2020.
By
Connectivity:
Based
on connectivity, the market is segmented into wired and wireless. Among these,
the wireless segment is expected to account for the largest share in Smart
Headphones market in the year 2020. The growing prevalence and increasing use
of wireless headphone, due to its various advantages are the primary factors
driving the use of wireless headphones, which is expected to boost the demand
for smart headphones during the forecast period.
By
Distribution Channel:
Based
on distribution channel, the market is segmented into online and offline. Among
these, the online distribution channel is expected to generate high revenue in
year 2020. This is due to the rising number of ecommerce websites in various
developed countries such as US and Germany is responsible for the larger market
share of this segment. Hospitals and clinics are expected to show a growth at
the highest CAGR during the forecast period in the medical devices cleaning
market.
Smart Headphones Market - Regional Analysis
The
Smart Headphones market is segmented by region into North America, Europe, Asia
Pacific, Rest of World. North America is expected to be the largest market for
smart headphones accounting for over 35% of global revenue in 2020 and is
expected to show a robust growth due to early technology adoption by
manufacturers and consumers. Huge technology penetration across the U.S. is
also anticipated to propel product sales. Existence of majority key industry
players including Beats, Bose and Skullcandy have revolutionized the regional
market with the availability of high-end products
On
the other hand, the Asia-Pacific is expected to witness substantial growth due
to high wearable electronics penetration in the region and due to the presence
of countries such as China, Japan and India. Furthermore, the growing spending
on expensive electronic accessories is expected to fuel the demand. Low-cost of
sensors and other connectivity components used in smart headphones is expected
to drive the growth of the over the next seven years.
The
Europe region is estimated to show par growth due to its weakened economy
coupled with the recent European debt crisis amid covid-19. Such crisis is
expected to have a long-term impact that would expect to negatively affect the
overall development. However, countries such as Italy, Germany and the UK were
moderately affected by the crisis and these countries are expected to witness
considerable growth over the coming years. Parts of the European market covered
in the report are regional markets spread across the United Kingdom, France,
Italy, and Germany. The market in the region will be benefitted by the shifting
consumer preference for alternative solutions as well as the increasing
spending power of consumers, suggests the report. Similarly, the audio devices
sector’s segmental analysis for the Asia Pacific region covers India, Japan,
China, and others. For the rest of the world, the research report for the
earphone and headphone market covers the Middle East and Africa. Forecast based
on the report’s findings are presented for the forecast period till 2026.
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Table Of
Contents
1 Executive
Summary
2 Market
Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Capacity
Estimation
3.4 Forecast Model
3.5 List Of
Assumptions
3.6 Limitations Of The
Study
4 Market
Insights
5 Market
Dynamics
5.1 Introduction
5.2 Market Drivers
5.2.1 Growth In Data Traffic
Due To Rising Number Of IoT Devices Across Various Industries
5.2.2 Rising Demand
For High Reliability And Low Latency Networks In Manufacturing Industries
5.3 Market Restraints
5.3.1 High Costs
Required For Deployment Of 5G Network
Continued…
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