Bluetooth Headphones Market
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Bluetooth Headphones Market size surpassed USD 60 billion in 2019 and is poised to grow at a CAGR of over 10% between 2020 and 2026. The growing penetration of smartphones and shifting consumer preferences toward high fidelity audio sound will boost the market revenue.
Consumers are increasingly embracing new features, such as noise cancellation and better connectivity range, augmenting the market demand. Bluetooth headphones are also offering better comfort to users using better materials and compact weight.
Competitive pricing, changing technological landscape, and increasing threat of counterfeit products are the key factors hindering the market growth. Bluetooth headphone vendors are strengthening their distribution channels and devising new marketing strategies to expand their market presence.
| Report Attribute | Details |
|---|---|
| Base Year: | 2019 |
| Bluetooth Headphones Market Size in 2019: | USD 60 Billion |
| Forecast Period: | 2020 to 2026 |
| Forecast Period 2023 - 2032 CAGR: | 10 |
| 2023 Value Projection: | USD 120 Billion |
| Historical Data for: | 2014 to 2018 |
| No of Pages: | 280 |
| Tables, Charts & Figures: | 369 |
| Segments Covered: | Type, Distribution Channel and Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The earbuds product segment dominated around 75% bluetooth headphones market share. This dominance can be credited to rising uptake of earbud earphones for better comfort, high fidelity audio, and true wireless features. The earbuds also offer novel technologies, such as bone conduction, augmenting the audio quality and offering rich & immersive music experience.
The manufacturers are developing earbuds with high-quality listening experience and longer stand-by & music play time. Smart functions such as gesture recognition and voice assistance in the earbuds are gaining popularity among consumers. Additionally, secure & comfortable fit and intuitive touch control are a few of the advanced features offered by the industry players to gain hold on this competitive market.
The offline segment is projected to witness steady growth through 2026 owing to easy returns offered by brick and mortar stores along with better customer support. Customers want to touch and feel the comfort and ergonomics of headphones, which is attracting the footfall on physical stores. Furthermore, growing trend of in-store promotions and attractive loyalty discounts is expected to influence the market revenue.
The UK market will register high gains in the coming years due to increasing demand for high-quality audio systems across the region. Moreover, growing use of wireless headphones during workouts will further fuel the market demand. Stringent regulations on the use of audio equipment while driving have encouraged automobile manufacturers to provide bluetooth-enabled infotainment systems in cars.
Germany market size is slated to observe substantial CAGR during the forecast timespan led by increasing use of multifunctional devices such as smartphones. Rapid technological advancements in connected devices and smart speakers is further set to boost the market growth.
The North America bluetooth headphones market held over 30% revenue share in 2019 and is predicted to reach USD 34 billion valuation by 2026. The industry growth is attributed to presence of numerous established market players such as Apple, Plantronics, Bose Corporation, and Bowers & Wilkins.
In the U.S., there is a changing customer focus toward bluetooth technology with a predicted decline in wired headphones & earphones usage owing to ease of usage and convenience provided by these wireless headphones. Also, biometric sports tracking headphones have grown in prominence due to customers’ focus on sports & fitness equipment.
Industry players are focusing on new product development strategies to strengthen their product portfolio and increase customer base. For instance, Plantronics, Inc. provides a range of bluetooth headphones and earbuds with advanced features such as 3D sound bar, lightness in design, and noise cancellation. Several technology partners are offering products at low prices and partnering with online retailers. Branding strategies also help vendors to enter and capture untapped markets.
Some of the key companies operating in the market include
Market by Product
Market by Distribution Channel
The above information has been provided for the following regions and countries:
The UK market is expected to witness a steady growth through 2026 due to increasing use of high-quality audio systems coupled with technological advancements in wireless technology.
According to this forecast report by GMI, the North America market revenue is estimated to reach USD 34 billion by 2026 driven by presence of numerous established market players such as Apple, Plantronics, Bose Corporation, and Bowers & Wilkins.
The earbuds segment held a major share in the market with over 75% in 2019 and is expected to continue its dominance till 2026 owing to rising uptake of earbud earphones for better comfort, high fidelity audio, and true wireless features.
The industry share of bluetooth headphones is poised to grow at a CAGR of over 10% between 2020 and 2026.
The market size of bluetooth headphones surpassed USD 60 billion in 2019.