With technological advancements and development of wireless and waterproof technology, the demand for earphone and headphone have increased significantly. Increasing use of smartphones, portable music players and tablets is leading to the rise in the use of earphones and headphones. Companies are also focusing on diversification of product portfolio to offer something unique and technically advanced. For instance, companies have added noise cancellation feature in earphones and headphones to enhance customer experience.
According to the report by Future Market Insights (FMI), the major trends driving the growth of earphones and headphones market are increasing mergers and acquisitions, portfolio diversification by leading market players and technological advancements such as SKAA, Bluetooth and WiFi. On basis of region, Asia-Pacific is expected to be the fastest growing region in earphone and headphone market. While increasing urban population, a rise in disposable income and rising number of streaming services are some other factors contributing to the growth of earphones and headphones market.
Technological innovation to boost the demand for earphones and headphones
With technological advancements leading companies and startups are developing earphones and headphones as high tech pieces that can act as voice-activated assistants, translate languages and even act as hearing or deaf aid.
Unwanted and long exposure to noise can cause irritation and can even increase a risk of heart attack and stroke. Hence to tackle these problems, companies have introduced noise-cancelling headphones using Active Noise-Cancellation (ANC) technology. Eliminating the outside noise, these headphones allow a person to even play music at lower volume. The only concern is the cost of these headphones. However, leading market players have launched noise-cancelling headphones with some other interesting feature, for example, Boss QuitComfort 35 are noise cancelling headphones and also offers wireless connectivity.
Similarly, Beem United have developed BeMe D200 lightning earphones with active noise cancellation technology for iPhone. The company has also launched a BeMe app for iPhone users that allows the user to set the level of noise cancelling, in order to remain aware of surrounding noises.
Companies are entering into mergers and acquisitions to introduce new products with better features
There has been an increase in mergers and acquisitions by established companies and even startups to offer a unique product and diversify their product portfolio. For instance, Honor entered into a partnership with Monster, a headphone giant. The company announced new headphones with 3D sound including Pure Monster Sound and Huawei’s SWS technology. The headphones will include sound enhancement and compensation feature along with HiFi mic to make clear calls. More such mergers and acquisitions are taking place that will result in the launch of new products including advanced technologies.
Apple has also filed a patent to include biometric sensors in the AirPods. This will turn the wireless earphones into a fitness tracker. Along with heart rate monitor, Apple is also planning to EKG sensors that will monitor electrical activity of the heart.
Key market players are introducing cost-effective and innovative earphones and headphones to sustain the competition. Moreover, smartphone and headphones manufacturers are also diversifying their product portfolio to offer better customer experience and establish themselves as a premium brand in the market.