Factors to Shape the present and future of Audio

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The increasing integration of IoT, biometric monitoring, augmented hearing, and ambient noise control will revolutionize the global earphones and headphones market.

With the rapid advancements in technology, manufacturing, transmission, and portable consumer electronics goods, the global earphones and headphones market witnessed significant innovations that boosted the adoption of these devices. The improvements and developments in the manufacturing and audio technology are leading to a vast transformation in the appearance, sound output, portability, and connectivity of these devices in the global market. The increasing affordability of wireless connectivity and the introduction of new headphone variants with health sensors and other value-added features will drive the evolution of the market.

The top developers are focusing on continuously testing and adapting advanced technology to reduce or offer external noises canceling features; this will boost the revenues in the global market. The rising developments in the field of IoT and AI is strengthening the infrastructure for wearables in the market. A rising number of tech startups are working to develop the integrations of wearables and voice as the prominent UI which is enabling the transition of earphones and earbuds to become the central node in the future systems in the global market. Significant technological advancements in wireless products such as SKAA, Bluetooth, infrared, and Wi-Fi will propel the demand for demand for high-fidelity devices in the market. The wider acceptance of smart hearables, such as true wireless headphones with augmented hearing and language translation capabilities will create lucrative opportunities for leading vendors in the global market.
The increasing integration of IoT, biometric monitoring, augmented hearing, and ambient noise control will revolutionize the global earphones and headphones market.

The increase in the number of mobile devices, access to music and video content on-the-go, and the fast-evolving music industry are some of the major factors attributing to the growth of the global market. The exponential growth of digital media, especially entertainment services such as video, audio, and multimedia will drive the demand for innovative devices in the market. The global earphones and headphones market is projected to reach values of more than $36 billion by 2024, growing at CAGR of around 13% during 2018-2024.

Earphones and Headphones Market – Dynamics
The increasing number of innovations is leading to the transition of wireless devices to hearables in the global earphones and headphones market. The increasing focus on making these products more comfortable and convenient, with the ability to eliminate external noises and deliver a more immersive listening experience will enable vendors to attract new consumers in the global market. The integration of smart tech that offers the ability to initiate virtual assistants/smart speakers and control audio and volume buttons due to improvements in manufacturing and audio technology will fuel the demand for new product offerings in the market. Wearables connected to the user’s smartphones and applications steered the market toward smart accessories, which could double the performance and perform functions of the device that they supported. The host of the development of smart headphones, watches, smart eyewear, and fitness trackers will drive innovations in the field of hearing aids and augment the growth of the global earphones and headphones market.

Wireless Headphones Market – Overview
The advancement in technology, manufacturing, transmission, and portable consumer goods is leading to innovations in the global wireless headphones market. The vast transformation in the appearance, sound delivery, portability, and connectivity of these products is fueling the demand of wirelss earphones. In-line microphones are now primarily a standard feature, wireless connectivity becoming more affordable in the future with health sensors and other extra capabilities are likely to increase the multifunctionality of these devices.

The leading vendors are investing in the testing and adoption of different technologies to reduce or block external noises. The introduction of noise-cancellation and noise-isolation devices has revolutionized the industry. Technological advancements such as SKAA, Bluetooth, infrared, and Wi-Fi are enabling vendors to attract new consumers. The rapid adoption of wearable technology and paradigm changes in consumer preferences towards the use of these devices will positively impact the demand in the market.

The introduction of smart hearables will drive the demand for wireless earbuds with augmented hearing and language translation capabilities. The development of hearables that deliver outstanding sounds and superior ways to integrate IoT, biometric monitoring, augmented hearing, ambient noise control, increase awareness of surrounding, and delivering all this information to the user’s ears will revolutionize the global market over the next few years. The launch of innovative products with superior features will contribute to the growing sales. The integration of products with smart features such as hearing aids, fitness tracker wearables, and speech modulation devices will contribute to the development of the global wireless headphones market.

The market is currently witnessing the incorporation of newer technologies such as gesture recognition and control, active head tracking, biometric monitoring, 3D surround sound delivery, and onboard storage in over-ear. The integration of these products with a home entertainment system will result in the evolution of the global market. The global wireless headphones market is anticipated to generate revenues of around $34 billion by 2024.

Wireless Headphones Market – Dynamics
The increasing number of collaborations between the manufacturers and several industry partners is one of the major factors attributing to the growing revenues in the global wireless headphones market. The industry partners comprise sectors such as smartphones, other mobile devices, music, fashion, and entertainment including several music artists and celebrities. These collaborations have led to the launch of new variants of existing models and garnered new sales.

The collaborations with complementary industry partners also allow the vendors to minimize research and development costs to develop new products in the market. The rising demand for high-quality products at affordable prices is encouraging the players to invest in the development of new earphones and headphones with value-added features at competitive prices. For instance, in 2014, Apple acquired Beats Electronics for $3.20 billion. This acquisition aimed to manufacture listening products that are compatible with Apple line of products such as iPhone, iPod, iPad, and MacBook.

The easy affordability of mobile phones, easy availability, and accessibility of the internet is boosting the demand for mobile music accessories, thereby, driving demand in the global wireless headphones market.

Trends:
Smart features such as water resistance, gesture recognition, sensors, and biometric recognition are driving the global wireless headphones market
The global wireless headphones market by features is categorized into smart and non-smart. Smart features segment dominated more than half of total market share in 2018, growing at a CAGR of approximately 23% during the forecast period. The introduction of smart products that offer real-time problem-solving capabilities is gaining immense popularity in the global market. The vendors are introducing products with smart features such as virtual assistants, gesture recognition, biometric monitoring, voice controls, and language translation to attract the maximum number of consumers. The increasing application of these products in the sports and fitness industry will drive revenues in this market segment during the forecast. The integration of advanced features like water resistance, gesture recognition, sensors, and biometric recognition will lead to the evolution of the global wireless headphones market.

Non-smart products offer basic functionality such as connecting via Bluetooth, answering calls, and streaming music. The increasing availability and adoption of technologically advanced product portfolios will adversely impact the growth of the non-smart products in the global wireless headphones market.

Hi-fidelity sounds of over-ear earphones are contributing to the revenues in the global wireless headphones market
The type segment is categorized into in-ear, on-ear, and over-ear. The over-ear wireless headphones are the fastest growing segment in the global market, at a CAGR of around 27% during the forecast period. The launch of over-ear products with built-in capability to reduce external noise and extra comfort to the user is propelling the growth of this segment. The introduction of features such as hi-fidelity sound is fueling the demand for these products in the global market.

The major feature of this product is the ability to reduce outside noise significantly and improve the sound experience of the end-user in the market. The leading vendors are investing in several advancements in the manufacturing and audio technology to gain a larger global market share. The launch of devices including timbre and related sound harmonics and envelope is driving the development of this segment in the global wireless headphones market.

The availability of in-ear phones with the balanced armature and that offer detailed sound with higher treble range is propelling the demand for these products in the global market. The additional capabilities of on-ear earphones such as noise cancellation, active noise cancellation, and controlling ambient sound are contributing to the growing revenues in the global wireless headphones market.

Need for personalized listening experience is fueling the growth of the global wireless headphones market
The global wireless headphones market by end-use is segmented into entertainment, fitness & sports, and gaming. Entertainment segment dominated close to 2/3rd of the total market share in 2018, growing at a CAGR of approximately 21% during the forecast period. The evolution of the music industry and the popularity of portable devices such as iPods, MP3, MP4 players, and online music sites are the major factors attributing to the growth of this segment. The introduction of smart technology that provides features to control the ambient sounds and deliver a personalized listening experience will transform this market segment over the next few years. The manufacturers are collaborating with several music artists to launch their name edition products to attract a maximum number of consumers. The growth of the streaming industry will fuel the growth of this segment in the global wireless headphones market.

The increasing adoption for smart wearable devices that track activities, heart rate, calories, and blood pressure will contribute to the growing demand in the fitness and sports segment in the market. The gaming industry is witnessing the development of products with longer-lasting batteries, ability to charge while playing, surround sound, hot battery swapping, and improved band and earpiece for increased comfort enabling the user to play for longer hours. Such developments will boost consumer confidence levels in the global wireless headphones market.

Medium range wireless headphones with equalizer settings and multifunction buttons will boost sales in the market
The price range segment is divided into low, moderate, and premium. Moderate priced wireless headphones are the fastest growing segment in the global market, growing at a CAGR of approximately 22% during the forecast period. The introduction of medium-priced products that offer equalizer settings, multifunction buttons, better battery life, and some degree of resistance to water and sweat is fueling the growth of this segment. The medium price wireless earphones range from $50 to $99.99. The launch of newer models with activate voice assistants such as Siri and Google Now is enabling players to gain a larger global wireless headphones market share.

The increasing availability of low range products on various e-commerce websites and domestic electronic stores is fueling the growth of this segment in the global market. Premium range products offer hi-tech functionalities such as layered hearing and speech amplification in the global market.

Digital audio subscription across Europe will lead to the development of new products in the global wireless headphones market.

The global wireless headphones market by geography is segmented into APAC, Europe, North America, Latin America, and MEA. Europe occupied the largest market share in 2018, growing at a CAGR of more than 17% during the forecast period. The growing adoption of paid digital audio subscriptions and engagement in fitness and sports activities is fueling the growth of the European market. The research analysts at Arizton believes the consumer trend of investing in music and fitness subscriptions, as well as fitness gear, creates opportunities for vendors operating in the European market. The rising rate of savings will lead to the sale of high-cost consumer durables and electronic products in Europe. Celebrities endorsing these products will fuel the demand for earbuds and other music accessories in the region, thereby, contributing to the growth of the global wireless headphones market.

Smart devices with real-time problem-solving capabilities are fueling the growth of the global true wireless headphones market
The global true wireless headphones market by features is classified into smart and non-smart. Smart devices segment dominated the total market share in 2018, growing at a CAGR of more than 29% during the forecast period. The use of smart features is redefining the genre of wearables by integrating features of various electronic devices into the tiny space of earbuds in the global market. The integration of modern, advanced features such as virtual assistants, voice as dominant UI, gesture recognition, biometric monitoring, onboard storage, and language translation that are capable of resolving real-time challenges will transform the market. Google launched its Pixel Buds with an inbuilt language translation feature to translate up to 40 languages. Bragi, one of the first companies to offer truly wireless earbuds, uses technology from iTranslate to offer the language translation feature in its earbuds. The increasing adoption of mobile applications that enable the users to monitor body vitals such as heart rate and calories burnt during a workout session is augmenting the evolution of the global true wireless headphones market.

Sales of non-smart true wireless headphones will witness continuous growth in terms of revenues and units sold due to consumer shifting to smart devices in the global market. The availability of online platforms in emerging countries will drive the demand for non-smart devices in the global true wireless headphones market.

True Wireless Headphones Market
E-commerce segment is fueling the sale of medium-priced products in the global true wireless headphones market
The price range segment in the global true wireless headphones market is divided into premium, medium, and low. The medium priced product is the fastest growing segment in the global market, at a CAGR of around 30% during the forecast period. The absence of innovative technologies in medium-ranged products such as higher IPX ratings and improved control over ambient sounds is resulting in reduced pricing in the global market. The wide availability of these products on e-commerce websites, headphone stores, and supermarkets is boosting the revenues in the global market.

The vendors operating in this price segment also offer tap/touch controls, and the earbuds can be used to activate voice assistants such as Siri and Google Now. The incorporation of these features will contribute to the increase in the sales of products in this segment in the global market. The vendors of medium range products are in the position to incorporate added features into their products which allows keeping the prices constant or even increase a bit in the market. The increasing popularity of affordable smart devices will boost sales in the global true wireless headphones market.

The premium products offer the latest innovations and technological advancements to a wide range of consumers in the global market. Some vendors in the low-priced segment offer tap controls and the earbuds can be used to activate voice assistants such as Siri to attract consumers in the global true wireless headphones market.

True Wireless Headphones Market
Social media influences sales across online distribution channels in the global true wireless headphones market

The global true wireless headphones market by distribution channel is segmented into online and retail. Online segment occupied more than 2/3rd of the total market share in 2018, growing at a CAGR of around 23%. 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 growing demand in this segment in the global market. Several leading vendors are promoting the concept and use of Bluetooth devices and technology through social media channels and attracting the maximum number of consumers in the market. The wide variety of options available in the global market is fueling the growth of the online distribution channel in the global market. The ease-of-accessibility and convenience afforded by online stores will contribute to the growing revenues in the global true wireless headphones 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. Staffs in supermarkets and shops are educated about the product features, their modus operandi, and their usage in the global true wireless headphones market.

The presence of several Chinese vendors offering low-priced models that are capable of music streaming and answering calls and have improved features in terms of battery and playback time will lead to higher sales in the APAC market.

The high average disposable income of the population, the proliferation of smartphones, and the manufacture of the new products with advanced features are the main factors contributing to the growth of the headphone market.

Points for story

  • The leading vendors are investing in the testing and adoption of different technologies to reduce or block external noises.
  • The launch of innovative products with superior features will contribute to the growing sales.
  • The rising demand for high-quality products at affordable prices is encouraging the players to invest in the development of new earphones and headphones with value-added features at competitive prices.