DUBLIN, Aug. 15, 2019 /PRNewswire/ -- The "Active Noise Cancelling (ANC) Headphones Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global active noise cancelling (ANC) headphones market is expected to reach over $9 billion by 2024, growing at an impressive CAGR of around 14% during 2018-2024.
The growing awareness toward hearing disorders, the transition to hearable in the connected environment, the increasing number of smartphone users and tech-savvy consumers, and the adoption of new audio technology are some of the prominent factors that are expected to drive the ANC headphones market.
The growing acceptance of smart wearables such as wireless headphones with active noise canceling augmented hearing, and increased control over ambient sounds is propelling the demand for active noise cancelling headphones. The rise in hearing disorders is increasing awareness against NIHL (Noise-induced hearing loss), which is expected to increase the demand for active noise cancelling headphones among individual consumers during the forecast period.
ANC Headphones Market: Segmentation
This market research report includes detailed market segmentation by product types, price range, distribution channel, and geography. The ability of over-ear headphones to reduce the external noise, which helps to increase sound experience, is a major growth driver for the segment.Over-ear headphones are expected to witness steady growth during the forecast period due to advancements in their manufacturing process and audio technology.
In-ear active noise cancelling headphones, on the other hand, are likely to witness traction during the forecast period. A major reason for the high market penetration of these headphones is their cost-efficiency. Further, the increased adoption of in-ear headphones by sports and music enthusiasts is another factor for the high application of in-ear headphones.
As premium-range vendors are integrating hi-tech functionalities such as augmented hearing and speech amplification in their headphones, the market for these headphones is limited. The adoption of the latest innovations and technological advancements is driving the segment. Vendors operating in the medium segment offer tap/touch controls and earbuds, which can be used to activate voice assistants such as Siri and Google. The market for low-range ANC headphones is witnessing a gradual decline and stagnation. However, the increased adoption of low-range headphones in developing countries is expected to drive the revenue of the segment.
The traditional retail segment has faced strong competition from the online segment due to the growing internet penetration. Conventional speaker manufacturers and other electronic device vendors in the market are likely to increase the visibility of their devices in-store shelves across the world. The online segment of the market is witnessing high traction from the US and other European countries, particularly Germany and the UK. The retail segment accounted for the highest market revenue to the global ANC headphones market in 2018.
Market Growth Enablers
- Rising Demand from Entertainment & Fitness Enthusiasts
- Innovations in Audio Technology & Headphones Manufacturing
- Consumers' Tendency To Own Several Headphones
- Rising Number of Smartphone Users & Tech-savvy Consumers
- Rising Awareness About Hearing Ailments & NIHL
Market Growth Restraints
- High Competition from Smart Wireless Headphones
- High Prevalence of Counterfeit Products & Fragmented Market
Market Opportunities & Trends
- Emergence of Value-added Features
- Maximizing Audio Quality & Features While Reducing Bulk
- Transition of Headphones to Hearables in Connected Environment
- Adoption of Newer Technologies for Product Enrichment
ANC Headphones Market: Geography
North America is leading the ANC headphones market. A high number of millennials with the growing inclination toward smartphones is positively affecting the market in the region. The European region is witnessing a surge in the use of true wireless and sports models. Several developed countries are adopting smart headphones with add-on functionalities such as active noise cancellation, augmented hearing, and higher control over ambient sounds.
Emerging markets such as India, Nigeria, Kenya, and several other Asian countries have witnessed an unexpected growth in the demand for premium headphones, which can be attributed to the rising disposable income. Further, Latin America is witnessing the increasing popularity of online streaming services due to the increased number of smartphones and improved internet connectivity.
Key Vendor Analysis
The increasing penetration of smartphones and connected mobile phones is driving the demand for active noise cancelling headphones worldwide. Vendors are incorporating several smart and intelligent features in their products, which is affecting the global sale of ANC headphones.
There is a high demand for entry-level smart products in developing countries, which is currently fulfilled by local manufacturers. There is also significant demand for specialized, high-end, better sound quality active noise cancelling headphones, which is met by global brands such as Bose, Sony, Beats, JBL, AKG, and Sennheiser. The introduction of true wireless models is also a major trend witnessed in the ANC headphones market.
Other Prominent Vendors
- Bang & Olufsen
- Bower & Wilkins
- CB3 Audio
- Motorola Mobility (Lenovo)
- Sol Republic
- Turtle Beach
- Zound Industries
For more information about this report visit https://www.researchandmarkets.com/r/p1e51b
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