Global shipments of earphones and headphones are expected to reach 336 million units by 2016, up from an estimated 324 million in 2015. In terms of revenue, the market is expected to surpass $13 billion by the end of 2016, according to new data from Future Marketing Insights (www.futuremarketinginsights.com).
FMI has segmented the global earphones and headphones market into personal, gaming, media and entertainment, corporate, and sports. Demand for earphones and headphones for personal use is the highest, accounting for US$4.32 billion in revenues in 2014. FMI estimates revenues from personal segment to surpass $5 billion by 2016.
Robust smartphone and tablet sales in Asia Pacific, combined with proliferation of music streaming services is driving demand for earphones and headphones for personal use, according to the research group. Demand for earphones and headphones is also strong in the corporate sector, especially in the call centre industry.
The corporate segment accounted for $3.46 billion in global revenues in 2014, and FMI expects demand to amplify at a CAGR [compound annual growth rate] of over five percent through 2020. What’s more, the rising adoption of VOIP services for video conferencing and the steadily expanding call centre industry are sustaining demand for earphones and headphones from the corporate segment.