United States, Rockville MD, Aug. 05, 2022 (GLOBE NEWSWIRE) -- The noise cancelling headphones market analysis offered by Fact.MR scrutinizes key growth factors that are impacting sales in the market. The report offers in-depth insights covering key factors such as drivers, opportunities, key players' strategies, and demand outlook for the noise cancelling headphones market. In addition to this, the study analyzes latest trends across various segments including product type, operation, and sales channel.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global noise cancelling headphones market is valued at US$ 5.2 Billion in 2022 and is expected to reach US$ 9.06 Billion by the end of 2032. As per Fact.MR analysis, the noise cancelling headphones sales are projected to grow at a CAGR of 5.7% during 2022-2032.
Noise cancelling headphones were originally targeted toward frequent flyers and travelers. The price of these headphones was on the higher side, and their share of the overall headphone market was low.
However, noise cancelling headphones demand is predicted to surge owing to their superior features such as compatibility with smartphones, extended battery-life, splash-proof, etc. Hence, key players are capitalizing on rising demand among tech-savvy consumers who like to ensure low disturbances while listening to music or attending business calls.
Noise cancelling headphone sales are also rising on account of expansion of smartphone industry. In several developing countries such as India, smartphones are now easily available at low price points. While consumers usually get in-the-box earphones, usually they upgrade to headphones with superior features. This factor will continue to drive the sales of noise cancelling headphones over the next decade.
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In addition, miniaturization of technology is playing a key role in making noise cancelling headphones more affordable than before. Shrinking size of components required for manufacturing noise cancelling headphones along with low cost of implementation means that now these noise cancelling headphones are available to consumers at a lower price.
Key Takeaways
- North America is expected to be the largest market for noise cancelling headphones, accounting for 27.4% of demand share in 2022.
- Europe noise cancelling headphones market is expected to contribute nearly 24.7% of revenue share in 2022, with the U.K. leading the growth
- China is expected to emerge as the most remunerative noise cancelling headphones market across East Asia through 2022 & beyond
- Sales through online channels are likely to increase at a robust pace over the forecast period due to last mile delivery and lower prices than offline models
- India is anticipated to be a key market for noise cancelling headphone manufacturers due to expansion of consumer electronics sector
Growth Drivers:
- Availability of advanced features such as bluetooth connectivity, integration of smart-voice activation and compatibility with smart devices will drive demand.
- Growing sales of smartphones and smart devices such as Alexa and Google Homes are likely to create opportunities for noise cancelling headphones manufacturers.
- Proliferation of work-from-home and hybrid model in offices will create demand for premium headphones, boosting the noise cancelling headphones market.
Restraints:
- Patent protection is one of the key restraints impacting the growth of noise cancelling headphones market.
- Although price of noise cancelling headphones has come down in last couple of years, they are still more expensive than normal headphones. This is causing low sales in low- and middle-income economies.
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Competitive Landscape:
Leading players operating in the noise cancelling headphones market are adopting various strategies such as product launches and integration of artificial intelligence to boost their position in the market. They are also focusing on mergers and acquisitions, collaborations, and launch of innovative products.
Meanwhile, some of the key players are also focusing on launching competitive prices at lower prices. To make their products popular among consumers, manufacturers are focusing on exclusive sales and discounts on special days.
For instance,
- Xiaomi introduced True Wireless Noise Cancelling Headphones 3 Pro just for US$ 109 in 2021
- Sony kept price of its noise cancellation headphone at just $68 on Amazon Prime Day Sale, which was held on July 13, 2022
Key Companies Profiled by Fact.MR
- Beats Electronics LLC
- Audio-Technica Corporation
- Victor Company of Japan Ltd.
- Sony Corporation
- Bose Corporation
- Koninklijke Philips N.V.
- Harman Kardon
- Logitech UE
- Syllable
- Monster Incorporated
- Grandsun
- Sennheiser Electronics GmbH
More Valuable Insights on Noise Cancelling Headphones Market
In the latest study, Fact.MR offers a detailed study on global noise cancelling headphones market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of noise cancelling headphones with analysis across below segments:
By Type:
- In-ear noise cancelling headphones
- Over the ear noise cancelling headphones
By Operation:
- Active noise cancellation headphones
- Passive noise cancelling headphones
By Sales Channel:
- Hypermarket/supermarket
- Specialty stores
- Online
- Third Parties
- Company Websites
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Questions Covered in the Noise Cancelling Headphones Market Report:
- What is the projected value of the noise cancelling headphone market in 2022?
- At what rate will the global noise cancelling headphone market grow until 2032?
- Which are the factors hampering the growth in the noise cancelling headphone market?
- Which region is expected to lead in the global noise cancelling headphone market during 2022-2032?
- Which are the factors driving the noise cancelling headphone market during the forecast period?
- What is the expected market value of the noise cancelling headphone market during the forecast period?
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