The sports headphones market is expected to grow at an impressive CAGR of over 14% during the period 2018-2024
NEW YORK, Sept. 2, 2019 /PRNewswire/ -- The sports headphones market is expected to grow at an impressive CAGR of over 14% during the period 2018–2024.
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The growing market for fitness clubs and the rising number of actively engaged gym and fitness enthusiasts are expected to drive the growth of the global sports headphones market. Vendors offer smart sports headphones models that are resistant to water and sweat, provide extra comfort, and fit appropriately during workouts and stream the music to the user. Advancements in audio technology, designs, and manufacturing are driving the global sports headphones market. The inclusion of biometric sensors, ergonomic design, high-noise cancellation feature, the increased latency of wireless headphones, and an in-line mic with playback controls is playing a vital role in the growth of the global sports headphones market.
The prominent factors that are expected to contribute to the growth of the sports headphones market during the forecast period:
• Maximization of the audio quality and features
• The transition of headphones to hearables in the connected environment
• Adoption of modern and advanced technologies for product enrichment
• Innovations in audio technology and headphone manufacturing
This research report on the sports headphones market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on segmentation by products (in-ear and on-ear), features (smart and non-smart), technology (wired, wireless, and true wireless), distribution channels (retail and online), and geography (APAC, Europe, Latin America, MEA, and North America).
The study considers the present scenario of the market and its market dynamics for the period 2018?2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The report covers both the demand and supply sides of the market. It profiles and examines leading companies and other prominent companies operating in the sports headphones market.
Sports Headphones Market: Segmentation
This market research report includes detailed market segmentation by product, features, technology, distribution channel, and geography. In-ear sports headphone models are highly popular in the market as they are feature-rich and lightweight. With the introduction of true wireless headphones, the revenue share of in-ear devices has risen steeply in recent years in the sports headphones market. The development in audio technology and the entry of new vendors, which offer models with features such as removable and washable earpads and an ergonomic fit, are likely to drive the demand of on-ear sports headphones. Also, the increasing price of over-ear models is auguring well for the growth of the on-ear sports headphones market.
The high adoption of true wireless headphones is expected to drive the smart sports headphones market during the forecast period. Non-smart sports headphones are likely to observe slow growth during the forecast as the segment is experiencing stagnation worldwide.
The incorporation of innovative technology such as active head tracking, 3D surround sound delivery, and onboard storage in wireless sports models is expected to drive the growth of the wireless sports headphones. Besides, the increased integration of wireless devices with home entertainment systems is another important factor driving the global sports headphones market. True wireless sports headphones have been positioned a notch above standard wireless models as they have capabilities to provide users with better hearing level and higher control over surrounding sound. The wired sports headphones segment is highly popular in emerging countries, given their competitive pricing. Although the segment has been dominating the market for a long period, wired ones are witnessing decline due to the growing adoption of wireless ones among consumers.
The increasing number of OEMs' e-commerce portals and online direct-to-consumer stores such as Amazon, eBay, Best Buy, Alibaba, and JD.com is contributing to the growth of the online segment in the global market. Several leading vendors are promoting the concept and use of Bluetooth devices and technology through social media channels, thereby attracting the maximum number of consumers in the market. The availability of a wide range of products is fueling the growth of online distribution channels in the global market. Specialty stores such as Apple Stores, Bose Stores, and Harman Lifestyle Showrooms are attracting the maximum number of consumers in the retail segment in the market. Several vendors from the UK and the US are selling their finished products in electronic stores, supermarkets & hypermarkets, or online stores, which is contributing to the growth of the segment. Walmart, Costco, Sears, Home Depot, Best Buy, and Target are some of the leading players in the retail space.
Market Segmentation by Products
• In-ear
• On-ear
Market Segmentation by Features
• Smart
• Non-smart
Market Segmentation by Technologies
• Wired
• Wireless
• True Wireless
Market Segmentation by Distribution Channel
• Retail
• Online
Sports Headphones Market: Geography
The popularity of paid digital audio subscriptions such as investment in music and fitness subscriptions and fitness gear is a key factor driving the Europe sports headphones market. In addition, the growing interest shown by fitness and sports enthusiasts in adopting sports headphones is expected to fuel the market growth. A high number of internet users, especially millennials, the inclination to adopt new technology, high average disposable incomes, the proliferation of smartphones, the introduction of smart sports headphones, and high urbanization are driving the sports headphones market in North America. Also, the rise in the number of music and video playback applications and the growth in streaming music services have grown significantly. The availability of budget smartphones, the increase in disposable incomes, and the increased buying power in the middle-class population, especially in China, South Korea, and India are major factors driving the growth in the APAC region. The demand for premium headphones is growing in the MEA region, especially in the UAE, Qatar, Bahrain, Kuwait, Israel, and Jordan. It is expected that wireless and active noise cancellation headphones will gain prominence in the MEA market. The growing number of smartphone users, the increase in the number of internet users, and an inclination toward online music streaming are fuelling the growth in the Latin America market.
Market Segmentation by Geography
• APAC
o China
o Japan
o South Korea
o India
o Australia
• Europe
o UK
o Germany
o France
o Italy
o Nordic
o Spain
• Latin America
o Brazil
o Mexico
o Chile
o Argentina
• MEA
o GCC
o South Africa
• North America
o US
o Canada
Key Vendor Analysis
The increasing penetration of smartphones and connected mobile devices to stream the content online during sports and fitness activities will boost the sports headphones market. With a keen eye on the changing market landscape, vendors are incorporating several smart features in headphones, with secure fit being the focal point. There is a high demand for entry-level sports headphones in developing countries; local manufacturers currently meet this demand to a large extent. There is also a significant demand for specialized, high-end, better sound quality devices, which are catered by specialized brands such as Bose, Sony, Beats, JBL, Anker, and Sennheiser. Further, the emergence of innovative technologies across industries is expected to have a profound impact on product design, development, manufacturing, marketing, sales, aftersales, thereby offering seamless and customized consumer experience.
Key Vendors
• Samsung
• Sony
• Sennheiser
Other Prominent Market
• Anker Innovations
• Apple
• Audio-Technica
• Bang & Olufsen
• Boat
• Bragi
• Cowin
• Creative
• Denon
• Gonoise
• Huawei
• Jabra
• Jaybird, Bose
• Jays
• JLab
• Motorola Mobility (Lenovo)
• Philips
• Pioneer
• Plantronics
• Skullcandy
• Sol Republic
• Toshiba
• Under Armour
• Urbanista
• Xiaomi
• Zound Industries
Key Market Insights
The report provides the following insights into the sports headphones market for the forecast period 2019–2024.
• Offers market sizing and growth prospects of the sports headphones market for the forecast period 2019–2024.
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the market.
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of market segments and the regional outlook of the market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the sports headphones market.
Read the full report: https://www.reportlinker.com/p05812398/?utm_source=PRN
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