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Global Earphone and Headphone Market Driven by Increasing Sales of Smartphones in Asia Pacific

Press release Description

Albany, New York, November 29, 2017: The global demand for earphones is likely to be higher than that of headphones, according to a latest market research report added to the comprehensive repository of Market Research Reports Search Engine (MRRSE). The report titled “Earphone and Headphone Market: Global Industry Analysis and Opportunity Assessment, 2015 – 2025” offers in-depth analysis and insights on the global earphone and headphone market, laying bare the key factors that are likely to shape demand for these accessories during the forecast period. According to the report, the global earphone market is likely to grow at a CAGR of over 7%, whereas global demand for headphones is projected to grow at nearly 4%.

According to the report, the growth of the global earphones and headphones market is heavily impacted by the broader trends in the smartphone and consumer electronics sector. Steady sales of smartphones, especially in China and India are likely to create demand for earphones and headphones during the assessment period. A majority of smartphone manufacturers offer earphones in the box, but headphones are only offered in more higher-end phones. This explains the reason why earphone demand is higher than headphones globally. Also, in the aftermarket, earphones are priced at a lesser cost as compared to headphones, which further influences consumer preference.

In addition to these factors, macroeconomic factors such as declining costs of consumer electronics, rising disposable income, and rise of a strong middle class in China and India are likely to create sustained demand for earphones and headphones during the forecast period. Popularity of free music streaming services has also created an incentive for consumers to buy earphones and headphones. However, availability of counterfeit products and fragmented nature of the industry is likely to create demand during the forecast period.

Globally, wired earphones and headphones account for a higher revenue share of the market, as most of wired earphones and headphones are priced comparatively lower than wireless variants. However, an increasing preference for wireless earphones and headphones has been witnessed among end-users. It is projected that demand for wireless earphones and headphones will grow at a higher rate during the forecast period.

Sales of earphones and headphones through online channels is likely to witness an increase during the forecast period. Many tier II cities in emerging economies lack access to branded stores and shopping malls. In these regions, home delivery option of branded products through e-commerce has emerged as a lucrative option. The report estimates the online distribution channel to grow at a robust CAGR of over 9% during the forecast period.

The leading players profiled in the report include JVC Corporation, Plantronics Pty Ltd., Sennheiser Electronic GmbH & Co. KG, Beats (Apple Inc.), Philips Electronics Ltd. GN Netcom A/S(Jabra), Inc. (AKG), Sony Corporation, Harman International Industries, Bose Corporation, and Audio-Technica Corporation.

Browse Full Global Earphones And Headphones Market Report with TOC : https://www.mrrse.com/earphones-headphones-market

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