The Earphones and Headphones Market size is estimated at USD 61.90 billion in 2024, and is expected to reach USD 106.68 billion by 2029, growing at a CAGR of 11.5% during the forecast period (2024-2029).
It is anticipated that the market will rise through the projection period due to technological developments in earphones and headphones, such as the introduction of Active Noise Cancellation, which improves customer listening experience.
The competitive rivalry in the Earphones and Headphones Market remains high owing to some key vendors such as Grado, Bose, and Sennheiser, amongst others, as the market remains consolidated. The market players are moving toward providing technologically integrated products through extensive investments in research and development that have enabled them to gain a competitive advantage over other players in the market.
Also, through strategic partnerships, mergers, and acquisitions, the players have been able to gain a more significant footprint in the market. In November 2022, boAt, a domestic electronics company, released its TWS Bluetooth earphones for the Indian market, named boAt Airdopes 100 TWS. These earbuds have innovative technologies like ENx, BEAST, IWP, and ASAP, which the manufacturer says give excellent sound quality, better-calling features, and long battery life. Also in November 2022, Zebronics launched the three-in-one Zeb-Sound Bomb X1 3-in-1, a combination product that is a truly wireless headset, Bluetooth speaker, and a Torch. The earbuds offer up to five hours of battery life per charge. There is also voice assistant support, and the headset is available in three color options - white, blue, and black.
In September 2022, Sony expanded its range of wireless headphones in India with the launch of WH-1000XM5 noise-canceling headphones successor to the much more popular WH-100XM4. The new WH-1000XM5 wireless headphones have a unique design with stepless sliding headphones, improved ANC with two processors and eight microphones, and more.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook