According to a recent report published by Allied Market Research, titled, Global Smart Headphone Market by type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global smart headphone market was valued at $5,033.8 million in 2017, and is projected to reach $21,809.5 million by 2025, growing at a CAGR of 20.2% from 2018 to 2025.
Presently, Asia-Pacific dominates this market. In 2017, China registered the highest growth in Asia-Pacific. Similarly, the UK led the overall smart headphone market in Europe in 2017. In the same year, the U.S. dominated the North America market.
In 2017, based on type, the in ear type was the dominant segment, in terms of revenue, and is anticipated to continue this trend during the forecast period. However, based on distribution channel, offline segment dominated the global market in the same year.
The key factors that drive the growth of the global market include increase in penetration of infotainment devices, rapid technological advancement, and surge in need for mobility services. However, adverse effect on hearing ability owing to excess use of headphones is expected to limit the market growth. Moreover customers increasing need for convenience provides ample of growth opportunity.
Key Findings of the Smart Headphone Market:
- On the basis of type, the in ear led the smart headphone market in the year 2017.
- The offline distribution channel dominated the global smart headphone market in 2017.
- The Asia-Pacific region held the majority of market share in 2017.
- LAMEA is anticipated to exhibit the highest CAGR during the forecast period.