APAC Beats the Rest in Global Earphones & Headphones Market

Rising number of smartphones, robust internet penetration rate and development are fuelling the global earphones & headphones market

Rise in number of smartphones coupled with increasing internet penetration rate has proved to be a killer combination for the global earphones & headphones market. It would be safe to say that at no other point in history have the sales of such products been as strong as they have been over the past decade, and studies conducted by TechSci Research prove the same.

Our industry experts debate some of the more salient points of the global earphones & headphones market and share with you some of the more valuable insights into the same.

APAC: The Global Earphones & Headphones Market Hegemon

Not even 3 decades ago, Southeast-Asia was considered a backwater, a high population density, low growth geographical denomination being propped up with IMF and World Bank loans. However, fast forward to the 21^st century and the region dominated the rest of the world in terms of demand generation vis a vis the global earphones & headphones market.

India and China, part of the aforementioned backwater and now two of the most vibrant global economies, lead the charge. India and China combined constitute over half the APAC market, and will go on to occupy over 60% market share in the future.

A lot of this has to do with proliferation of smartphones. Over 1.4 billion smartphones were shipped in 2015 and a huge number out of these were shipped to India and China. In fact, Smartphone shipment growth in India stood at 28.8% in 2015. Such factors provide a huge boost to the global earphones & headphones market which is evident in the growth of the product in the region.

                                   

Streaming and the Global Earphones & Headphones Market: New Lease of Life for Music Industry

With the decline in usage of CDs and cassettes, the revenue vacuum in the global music industry is slowly being filled by online streaming. Streaming remains the music industry’s fastest growing revenue source, with revenues more than doubling every 2 years between 2010 and 2015. As per TechSci Research report “Global Earphones & Headphones Market By Type, By Application, By Region, Competition Forecast & Opportunities, 2012 – 2022”, online streaming was responsible for the generation of nearly $6.7 billion worth of revenue in 2015.

With smartphone proliferation and internet penetration as well as promulgation within global earphones & headphones market will ensure that the future of online streaming in the music industry is indeed very bright.

Again, in addition to the above-mentioned factors, rising population, incline in real wages, picking up of global demand are some of the other major factors that are also responsible for the rise in online streaming via global earphones & headphones market and also the rise observed in the global earphones & headphones market itself.

 

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