According to a new market research report published by Credence Research “Wireless Headphones Market (Product Type – In-Ear, On-Ear, and Over-Ear; Functionality – With Microphone and Without Microphone; Distribution Channel – Online and Offline) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the wireless headphones market was valued at US$ 13.55 Bn in 2017 and will be growing at a CAGR of 7.9% during the forecast period from 2018 to 2026.
Browse the full report at https://bit.ly/2VZyyDN
The wireless headphones market was valued at US$ 13.55 Bn in 2017 and expected to be growing at a compounded annual growth rate (CAGR) of 7.9% during the forecast period from 2018 to 2026. In recent years, the wireless headphones market has witnessed significant growth in terms of both value and volume. The average selling price of wireless headphones is also witnessing an upward growth as a result of increasing demand for premium features such as form factor and noise cancellation among others. Convenience of use is one of the most important factor consumer consider while making a purchase decision for a wireless headphone. It provides a hassle free music and call experience for the user. Growing demand for smartphones is another prominent factor aiding the wireless headphone market growth. Moreover, increasing for gaming and virtual reality applications is further complimenting the wireless headphones market growth.
The online segment expected to witness the fastest growth in coming years. Availability of lucrative offers coupled with ease of shopping are some of the most prominent factors supporting the growth of the online segment. Rising internet penetration in region such as Asia Pacific and Middle East & Africa is further facilitating the online segment growth. Easy return policy and faster delivery are the other important factors influencing people to choose online channels over offline channels.
In terms of investment, the Asia Pacific market expected to remain the most lucrative for wireless headphone manufacturers. The region in recent years has witnessed a rising net disposable income. With the perpetually growing smartphone market in the region, the demand for accessories including wireless headphones is also expected to grow swiftly.
Key players profiled in the report include Apple, Inc., Sony Corporation, Samsung Electronics, JBL, Bose Corporation, Philips, Beats Electronics, Skullcandy, Sennheiser, Jabra and Shure among other. These companies are engaged in research and development activities in order to stay ahead of the competition. Voice assistant is expected to the next big trend for headphones in the not too distant future. Moreover, an increasing number of wireless headphones are expected to be offered with the noise cancellation feature.