Global smart headphones market expected to witness high growth
The global smart headphones market size is projected to reach USD 41.0 million by 2026, with ~72% CAGR during the forecast period.
Smart headphone is a device, that performs various functions such voice-based personal assistants, contextual location-based suggestions, as fitness & heart rate tracking, environment-based noise suppression or audio enhancement, and gesture & touch-based control along with is primary function of listening to audio signals.
New enhanced features offered by smart headphone devices including noise cancellation, water resistance, and high-definition (HD) sound format are expected to drive the industry growth over the forecast period. Growing adoption of wireless devices with incorporated music player is expected to be a major factor driving market growth over the next seven years.
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In 2020, the in-ear segment is expected to dominate the market during the forecast period
By Type:
On the basis of type, the market is segmented into in ear, on ear, and over ear. Among these, the in-ear segment is expected to grow with the highest CAGR during the forecast period. The growing demand for in-ear types headphones are acting as key factors responsible for the growth of this segment in 2020.
By Connectivity:
Based on connectivity, the market is segmented into wired and wireless. Among these, the wireless segment is expected to account for the largest share in Smart Headphones market in the year 2020. The growing prevalence and increasing use of wireless headphones, due to their various advantages are the primary factors driving the use of wireless headphones, which is expected to boost the demand for smart headphones during the forecast period.
By Distribution Channel:
Based on distribution channel, the market is segmented into online and offline. Among these, the online distribution channel is expected to generate high revenue in year 2020. This is due to the rising number of e-commerce websites in various developed countries such as US and Germany is responsible for the larger market share of this segment. Hospitals and clinics are expected to show a growth at the highest CAGR during the forecast period in the medical devices cleaning market.
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The major players operating in the global Smart Headphones market are Apple Inc., Bose Corporation, Bragi, Huawei, Intel Corporation, LG electronics inc., Muzik, Sennheiser, Sony Corporation, Streamz, Skullcandy, Samsung Electronics, and Koninklijke Philips N.V.
Major company participants have emphasized on expanding its market presence and provide competitive audio solutions with high noise cancellation and better connectivity. These major companies are trying to obtain a key competitive advantage on the basis of price and product offerings. A large number of headphone manufacturers are integrating backward in order to ensure a stable and reliable supply of components which is expected to result in higher profit margins.
Key companies in the market include Sennheiser, Samsung, Bragi, LG, Valencell, ChipSip, Sony, Huawei, and Cosinuss. Research and development investment is significantly high in the market as the manufacturers constantly try to develop various breakthrough technologies in an attempt to provide the enhanced state of the art products to meet evolving consumer needs.
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging and high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global smart headphones market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing and cost analysis.