The rise in need for convenience among consumers creates new opportunities for the smart headphones industry.
PUNE, MAHARASHTRA, INDIA, October 14, 2020 /EINPresswire.com/ — The rise in penetration of infotainment devices, technological advancements, and rise in need for mobility services drive the growth in the market. However, fatal effects on hearing ability owing to overuse of devices limit the growth in the market. On the other hand, a rise in need for convenience among consumers creates new opportunities in the industry.
As per the latest research conducted by Allied Market Research, the global smart headphone market generated $6.01 billion in 2018 and is expected to reach $21.80 billion by 2025, accounting a CAGR of 20.2% from 2018 to 2025. The report provides a detailed analysis of key investment pockets, competitive intelligence, changing market dynamics, major segments, and leading market players.
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In-ear segment to lead throughout the forecast period
Based on type, the in-ear segment accounted for more than half of the total market share in 2018 and is expected to lead throughout the forecast period. On the other hand, the over-ear segment is estimated to register the fastest growth rate, with a CAGR of 22.6% from 2018 to 2025. The report also analyzes the on-ear segment.
An offline segment to continue its dominance by 2025
On the basis of the distribution channel, the offline segment held the major share, contributing more than three-fourths of the total market in 2018, and is estimated to continue its dominance by 2025. However, the online segment is estimated to register a CAGR of 21.4% during the forecast period.
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Asia-Pacific to contribute the highest share throughout the forecast period
Asia-Pacific contributed to nearly one-third of the total market share in terms of revenue in 2018 and is estimated to contribute the highest share throughout the forecast period. On the other hand, LAMEA is estimated to register the highest growth rate with a CAGR of 23.0% from 2018 to 2025. The research also explores North America and Europe regions.
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Key market players
The research explores key market players including Bose Corporation, Sennheiser Electronic, Apple Inc., Skullcandy, Sony, LG Electronics, Samsung Electronics, Bragi, JBL (Harman International Industries, Incorporated), Koninklijke Philips N.V., and others. They have adopted various strategies such as expansions, new product launches, collaborations, partnerships, joint ventures, and others to gain a strong position in the industry.
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Source: EIN Presswire