The perpetually growing usage of smartphones, tablets, iPods, music players, gaming consoles, and other handheld electronic devices along with the on-the-go access to music and video content is the prominent factor fueling the growth of the headset market. As of 2018, there are 5.1 billion unique mobile subscribers across the world, and the number is expected to reach 5.8 billion by 2025, according to GSMA. Additionally, the increasing internet usage in unison with the growing array of internet platforms that facilities users with easy access to the online streaming of audio, video and multimedia content are significantly contributing to the growth of the headset market. According to the same source, the number of mobile internet users has proliferated significantly reaching 3.6 billion in 2018 from 3.3 billion in 2017, thereby indicating a strong demand for allied electronic devices that use headsets. Moreover, the presence of a diverse range of headsets, which is a combination of a microphone and earphone or headphone, is facilitating the customers to choose the product in accordance with their preferences, thereby creating a positive impact on the market growth. Monaural, stereo, omnidirectional, unidirectional, wired, wireless, in-ear, on-ear, and over-ear headsets are some of the many varieties that are enticing revenues to the headset market. 

As of 2018, the global headset market was evaluated to reach a value of $9.8 billion and the demand in the market is poised to propel at a standard CAGR of 9.8% during the forecast period 2019-2025.

Rapid Technological Advancements Pushing the Headset Market Growth Uphill—

Technological advancements pertaining to the functionality, style, and portability of the headsets is anticipated to provide lucrative opportunities to the market. The implementation of technologies such as Active Noise Cancellation (ANC), audio enhancement, Bluetooth, Wi-Fi, language translation, voice-based personal assistants, fitness & heart rate tracking, and contextual location-based suggestions have led to the increasing adoption of headsets across commercial and domestic sectors. Moreover, the increasing young population across the world and their desire for fashionable, attractive, sleek, and trendy products are creating demand for sophisticated and smart headsets and thereby instigating the manufactures to develop innovative products. Additionally, the significant upsurge in the trend of bring-your-own-device (BYOD) and IoT-based devices are expected to provide potential growth opportunities to the market. According to a study by Cisco, the number of connected devices in the US is estimated to be around 2.3 billion in 2015, and it is expected to reach 4.1 billion by 2020. Thus, the rapidly increasing adoption of connected devices ensued fast-evolving music industry has positively influenced the demand in the headset market. Some of the technological developments in the headsets include:

 

· Bose Corporation, in October 2018, introduced its Bose SoundSport Pulse wireless headsets, which can be paired with Bluetooth, are sweatproof, and are capable of tracking heart rate while performing any physical activities.

 

· In 2018, Halo Neuroscience developed Halo Sports 2 headsets that can stimulate the motor cortex of the brain while listening to music. The inner band of the headset is embedded with sophisticated sensors which will stimulate the motor cortex of the brain. Since the motor cortex regulates motor functions in human beings, it will help to improve movements greatly.

 

· In 2018, Bose Corporation released over-ear wireless active noise canceling headsets, QuietComfort 35 II. This model is facilitated with a Google Assistant button that allows the user to send instructions over voice to the Google Assistant on Apple or Android devices.

 

· In October 2017, Google launched language translating headphones that can translate 40 languages, including English, French, Chinese and Finnish, in real-time. The product is incorporated with Google Assistant that helps in the translation process. It can also send dictated texts and give directions.

 

· In 2016, Waverly Labs launched a wearable, language-translating device with two earpieces meant for speakers. This device was akin to true wireless headphones. Recently, Waverly has also integrated music streaming functionality into its product.

 

North America -- The Most Lucrative Region in the Headset Market:

Geographically, North America held the maximum share in the global headset market and accounted for 32.6% of the total market share in 2018, and it is expected to secure its dominance in the forecast period. The market in this region is predominantly driven by the increasing number of smartphone users, coupled with the highest levels of mobile internet penetration. According to the statistics by GSMA, the number of unique mobile subscribers, in North America, in 2017, was 303 million and 70% of the total internet subscriptions accounted for high-speed 4G connection. This further enabled the music lovers to stream their favorite music, videos, and podcasts at any place and anytime and thereby creating an unprecedented endorsement for headsets. Moreover, the increasing number of adoptions of paid music is fueling the growth of the North American headset market. As per the latest figures released by Recording Industry Association of America (RIAA), there are more than 50 million paid subscriptions for music streaming services, in the U.S., in 2018, nearly double the number of subscribers in 2016. Additionally, the presence of renowned headsets manufacturing companies such as JBL, Bose Corporation, Skullcandy, and Beats Electronics has revolutionized the regional market with the availability of high-end products. These aforementioned factors have rendered North America with maximum market share.

 

Personal Headsets Poised as the Key Application Segment in the Market—

On the basis of application, the headset market is segmented into personal and commercial. Among these, the personal headset segment is anticipated to garner maximum revenues to the market during the forecast period. This is mainly attributed to the increasing youth population across the world, along with their growing love towards music. According to the Common Wealth Organization, the global youth population is at an all-time high, at 1.8 billion people aged 15 to 29, in 2016. Moreover, the increasing consumer’s preference for convenient electronic products for day to day life usage, for instance, smart headsets that offer various benefits to the consumers such as freedom from maintaining the wired connection of devices, portability, water resistance, easy connectivity, and others is proliferating the growth of the market. Thus the key application segment is poised to propel at a CAGR of 10.2% through to 2025.

 

Headset Market Company’s Strategies—

The Major companies in the global headset market include Apple Inc, Harman International Industries, Incorporated, Bose Corporation, Sennheiser electronic GmbH & Co. KG, Philips, Panasonic Corporation, Logitech International S.A., Skullcandy Inc., Sony Corporation, and Zebronics India Pvt Ltd. These companies are continuously planning to deploy strategic plans such as new product innovations, collaborations, acquisitions, mergers, and partnerships to expand their presence in the market and thereby gain a niche for themselves. 

 

· Skullcandy, Inc., in 2016, announced its entry into a new merger agreement with Mill Road Capital. This partnership is intended to accelerate the growth of its Skullcandy and Astro brands.

 

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Related Reports:

 

a) Digital Headphones and Earphones Market

https://www.industryarc.com/Report/18094/digital-headphones-earphones-market.html

 

b) Microphone Market

https://www.industryarc.com/Report/15580/microphone-market.html

 

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