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The global wireless headphones market is anticipated to generate revenues of around $34 billion by 2024NEW YORK, Jan. 21, 2019 /PRNewswire/ -- The global wireless headphones market is anticipated to generate revenues of around $34 billion by 2024, growing at a CAGR of approximately 20% during 2018-2024. The market research report also offers market share analysis in terms of unit volumes produced during the forecast period. The additional capabilities of on-ear earphones such as noise cancellation, active noise cancellation, and controlling ambient sound are contributing to the growing revenues in the global wireless headphones market.The global wireless headphones market by end-use is segmented into entertainment, fitness & sports, and gaming. Entertainment segment dominated close to 2/3rd of the total market share in 2018, growing at a CAGR of approximately 21% during the forecast period. The evolution of the music industry and the popularity of portable devices such as iPods, MP3, MP4 players, and online music sites are the major factors attributing to the growth of this segment. The introduction of smart technology that provides features to control the ambient sounds and deliver a personalized listening experience will transform this market segment over the next few years. The gaming industry is witnessing the development of products with longer-lasting batteries, ability to charge while playing, surround sound, hot battery swapping, and improved band and earpiece for increased comfort enabling the user to play for longer hours.The price range segment is divided into low, moderate, and premium. Moderate priced wireless headphones are the fastest growing segment in the global market, growing at a CAGR of approximately 22% during the forecast period. The introduction of medium-priced products that offer equalizer settings, multifunction buttons, better battery life, and some degree of resistance to water and sweat is fueling the growth of this segment.Premium range products offer hi-tech functionalities such as layered hearing and speech amplification in the global market. Market Segmentation by Feature • Smart • Non-Smart Market Segmentation by Type • In-Ear • On-Ear • Over-Ear Market Segmentation by End-Use • Entertainment • Fitness & Sports • Gaming Market Segmentation by Price Range • Low • Moderate • Premium Wireless Headphones Market – Geography The global wireless headphones market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. Europe occupied the largest market share in 2018, growing at a CAGR of more than 17% during the forecast period. The growing adoption of paid digital audio subscriptions and engagement in fitness and sports activities is fueling the growth of the European market.The US is a leading market for the wireless headphones in North America. The market is majorly driven by the millennials, and they can be termed as a digital generation. They are tech savvy, and most of them are addicted to their smartphones. Not only in the US but also in Canada millennials are a largest working force.The increasing penetration of smartphones due to the rapid urbanization in the region. When smartphones were launched a few years ago, their premium pricing made them unaffordable for the middle-class population. Market Segmentation by Geography • North America o US o Canada • Europe o UK o Germany o France • APAC o China o South Korea • Latin America o Brazil o Mexico • MEA o UAE o South Africa Key Vendor Analysis The global wireless headphones market is moderately diverse due to the presence of several international and regional players. The increasing demand for specialized, high-end, and better sound quality products will create lucrative opportunities for the leading players operating in the global market. The growing focus on the development of advanced products will help manufacturers access emerging regions worldwide. The recent innovations in the charging technologies will help players sustain the intense competition. The major vendors in the global market are: • Apple • Bose • Samsung • Sony • Sennheiser Other prominent vendors include Skullcandy, Jabra, Bang and Olufsen, Jaybird, Motorola, Huawei, Avanca, AIAIAI, Alesis, Amkette, ASUS, Audio Technica, Beyerdynamic, Creative Technology, Denon, Grado Labs, The House of Marley, JAYS, JVCKENWOOD, Logitech, Molami, MONSTER CABLE PRODUCTS, Panasonic, Parrot, Philips, Pioneer, Shure, SMS Audio, Sol Republic, Turtle Beach, Urbanears, Westone Laboratories, Alphabet, Bragi, Nuheara, Alpha Audiotronics, Rowkin, Crazybaby, Earin, Meizu, Waverly Labs, and MyManu. Key market insights include 1. The analysis of global wireless headphones market provides market size and growth rate for the forecast period 2018-2024. 2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global wireless headphones market. 3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities. 4. It offers a complete overview of market segments and the regional outlook of the global market. 5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage. Read the full report: https://www.reportlinker.com/p05724776 About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001 View original content:http://www.prnewswire.com/news-releases/the-global-wireless-headphones-market-is-anticipated-to-generate-revenues-of-around-34-billion-by-2024-300781565.html SOURCE Reportlinker |