The global bluetooth headphones market size is projected to touch USD 17.5 billion by 2025, according to a new report by Million Insights. The market is expected to grow at a CAGR of 12.3% over the forecast period. Introduction of advance features such as 3D sound experience, on-board storage, gesture recognition and noise cancellation is attributing to the market growth.
Growing digital transformation has led to a rise in adoption of smart home devices. Incorporation of wireless headsets with smart devices is expected to fuel market growth. Further, increasing trend of experiencing different music genre among consumers, especially millennials is also positively driving the market growth. Additionally, wireless headsets can be equipped with digital hearing aid devices, thereby, further increasing the adoption of Bluetooth headphones.
Among different products categories, the in-ear headset was the leading segment with 46.9% of the market share in 2018. Features such as biometric sensors, increased talk time, hand-free calling and enhanced sound quality are bolstering the demand for this segment. On the other hand, the over-ear segment is likely to register the significant growth rate owing to its growing demand among fitness enthusiasts and athletes.
Online sales channel occupied the largest market share with over 49% of the market share in 2018. Further, this sales channel is anticipated to witness the highest growth rate throughout the forecast period. The increasing trend of multi-channel retailing, growing digital penetration in emerging countries and celebrity endorsement of products through social media is positively affecting the segment growth. Further, the rapid expansion of e-commerce retailers such as eBay and Amazon in countries such as China and India is expected to proliferate the sales of wireless headphones.
Asia Pacific was the dominant market with a share of 34% in 2018. Further, the region is likely to grow at a significant rate and maintain its dominance over the forecast period. Rising popularity of jack less smartphones is a key factor driving the regional growth. Further, growing penetration of multi-branded stores coupled with increasing online retailing is expected to boost the Bluetooth headphones market growth in the region over the forecast period.
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Further key findings from the report suggest:
• Among different product types, the in-ear segment held the largest market share of 46.9% over the forecast period.
• North America is likely to register the highest CAGR of 12.9% over the forecast period, 2019 to 2025.
• Asia Pacific was the leading region in terms of market share and the region accounted for USD 2.6 billion of the market size in 2018.
• Key players in the market are Sennheiser electronic GmbH & Co. KG, Sony Corporation., Apple Inc., Bose Corporation, and Panasonic Corporation among others.
Million Insights has segmented the global Bluetooth Headphones market on the basis of product, application, distribution channel, and region:
Bluetooth Headphones Product Outlook (Revenue, USD Million, 2015 - 2025)
• Over Ear
• In Ear
• On Ear
Bluetooth Headphones Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Exclusive Store
• Multi-branded Store
• Online Retail
Bluetooth Headphones Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa