Earphones and Headphones Market in Latin America to Reach Revenues of Over $3 Billion During 2018−2024 - Market Research by Arizton

CHICAGO, April 17, 2019 /PRNewswire/ -- According to Arizton's recent research report, the earphones and headphones market in Latin America is expected to reach revenues of over $3 billion by 2024, growing at a CAGR of over 10% during 2018−2024.

Key Highlights Offered in the Report:

1. Latin America has been witnessing the highest growth rate in revenues from digital music subscription and streaming services in the last few years, thereby making the country a potential market for headphones.

2. Brands such as Motorola, Samsung, Apple, and LG headphones are witnessing high popularity in Latin America due to their high market share in the mobile phone market.

3. Although Brazil is the leading  wireless headphones market,  Chile is likely to  emerge as the fastest growing market, growing at a CAGR of approximately 20% during the foreseeable future.

4. Market innovations such as the replacement of 3.5-mm jack headphones with lightning and type-C ports enable vendors to increase sophistication and introduce new features such as active noise cancellation in earphones.

5. With a revenue share of 90% in 2018, the entertainment and audio-video streaming segments were the largest end-users in the headphones market in Latin America.

6. The headphones market in Latin America has been witnessing several high-profile collaborations between smartphone  and headphone manufacturers.  OnePlus and JBL formed an alliance for a special edition of earphones in 2014. The collaborations are likely to increase during the forecast period.

Key Offerings:

• Market Size & Forecast by Revenue and Units | 2018−2024
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation –A detailed analysis by product types, technology, end-user types, features, and geographies.
• Competitive Landscape – Profile of 6 key vendors and 47 other vendors.

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Earphones and Headphones Market in Latin America – Segmentation

This market research report includes detailed segmentation of the Latin America market by product types, technology, end-user types, features, and geography.

• With a share of over 90%, the 3.5-mm jack headphones segment accounted for the maximum share of the wired headphones market.
• The true wireless headphones segment in Latin America holds the largest share of smart headphones, growing at a CAGR of around 40% in terms of volume during the forecast period. Further, the smart headphones market is expected to grow at a CAGR of 18% during the forecast period. 

Market Segmentation by Product Types

• In-ear
• On-ear
• Over-ear

Market Segmentation by Technology

• Wired
• Wireless
• Truly wireless

Market Segmentation by End-user Types

• Entertainment
• Fitness and Sports
• Gaming

Market Segmentation by Features

• Smart
• Non-smart

Earphones and Headphones Market in Latin America – Dynamics

Rapid advancements in technology and manufacturing and transformation of portable consumer electronics goods have laid the foundation for innovations in headphones. Significant technological advancements in wireless products such as SKAA, Bluetooth, Infrared, and Wi-Fi are driving the demand for high-fidelity headphones.

Key Drivers and Trends fueling Growth of the Global Market:

• Increasing demand from fitness and entertainment segments
• Growing number of smartphone users and tech-savvy consumers
• Increasing adoption of wireless headphones and Investments in IoT

Earphones and Headphones Market in Latin America –Geography

Brazil, which accounted for more than half of the market share in 2018, is a leading Latin America market. The market is likely to witness high demand for wireless headphones due to change in fashion trends and innovations in the wireless headphones segment. Improvements in the internet infrastructure and increment in the smartphone penetration are likely to increase the traction of headphones in the market.

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Market Segmentation by Geography

• Brazil
• Mexico
• Chile
• Argentina
• Colombia
• Peru
• Rest of Latin America

Geographical Market Size & Forecast | 2018−2024

• Product Types
• End-use Types
• Features Types
• Technology
• Key Countries

Major Vendors in the Global Market:

• Apple
• Bose
• Samsung
• Sony
• Sennheiser
• Skullcandy

Other vendors include Jabra, Bang and Olufsen, Motorola, Xiaomi, Huawei, Amkette, Asus, Audio-Technica, Beyerdynamic, Creative Technology, Denon, Grado Labs, Jays, Logitech, JVCKENWOOD, Panasonic, Philips, Parrot, Pioneer, Shure, Turtle Beach, Urbanears, Westone Laboratories, Bragi, Nuheara, Rowkin, Crazybaby, Earin, Meizu, Waverly Labs, Mymanu, Toshiba, RHA, Mpow, Ailihen, Kensington, Arbily Tech, Dibidog, Letscom, Koss, and Goang-Fann Co Ltd.

Explore our Consumer Goods & Retail Technology profile to know more about the industry.

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About Arizton:

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We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

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SOURCE Arizton Advisory & Intelligence