Bluetooth Headphones Market

• Increasing penetration of smartphones and increasing adoption of headphones during workouts are driving the market growth

Market CAGR for Bluetooth Headphones is driven by the increasing penetration of smartphones and the increasing adoption of headphones during workouts. Smartphones have come to play a crucial and omnipresent part in modern daily existence.

Here, they are involved in many experiences, from mobile payments to online bookings. The fact that many smartphone brands now do not provide the headphone jack function is one of the causes of a progressive trend towards cordless wireless connection; consequently, wireless headphones have evolved as the best choice for contemporary audio entertainment, especially among smartphone users on the go. It is clear from the world overview that the rising number of smartphones among India's population is 600 million smartphone users. GMSA Intelligence reported today that there are 5,65 billion active subscribers to mobile phones in the world. During the last 12 months, the total number of mobile users around the world has increased by 133 million. Also, throughout Europe, 158 million 5G connections were adopted by 2022. Such statistics, therefore, reveal an ever-present phenomenon of smartphone users spreading globally, further illustrating their prominent role in the modern lifestyle. According to gsm.com, smartphone adoption in the U.S. reached 83 % in 2021, and the same is expected to grow and reach around 85 % by 2025. As of 2021, 89% of Canadians have smartphones, and this is expected to increase to about 92% by 2025.

The rising demand for earphones and headphones amid the exercise routine is mainly believed to push market growth in the coming years. Gym-goers tend to waste 30 percent of their workout time chatting, untangling wires of earphones and headphones, and other distractions in a gym, and they do exercises for only about 40 minutes in a 60-minute workout session. It is reported that one-quarter of the people take up to 10 min to twist and untangle the cables.

As a result, it is anticipated that throughout the projection period, demand for the Bluetooth Headphones Market will increase due to the increasing penetration of smartphones and the Increasing adoption of headphones during workouts. Thus, driving the Bluetooth Headphones Market revenue.

The Global Bluetooth Headphones Market Industry experiences a notable surge in consumer demand for wireless audio solutions. This trend is largely driven by the increasing preference for convenience and mobility among users. As more individuals engage in activities such as commuting, exercising, and remote working, the need for hands-free audio devices becomes paramount. In 2024, the market is projected to reach 69.5 USD Billion, reflecting a growing inclination towards wireless technology. This shift indicates that consumers are increasingly prioritizing the freedom of movement that Bluetooth headphones provide, thereby propelling the market forward.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Bluetooth Headphones market in North America can be attributed to several key factors. As per data from the Entertainment Software Association, the number of people playing video games regularly has gone up to 215 million, which equates to 66% of the US adult population.

It is a cross-sectional demographic from all age groups. Also, the spread of indoor leisure lifestyles, such as listening to music and watching movies, is on the rise and, therefore will stimulate the popularity of wireless earphones locally. Apple Inc.'s annual report reveals that the revenue from wearables, accessories, and products is comprised of wireless headphones and air pods. In 2020, the revenue was US$30,620 million, which increased to US$38,367 million in 2021 and 41,241 in 2022.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: BLUETOOTH HEADPHONES MARKET SHARE BY REGION 2023 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe's Bluetooth Headphones Market accounts for the second-largest market share as Europe’s earphone and headphone manufacturers are increasingly devoting their research efforts to the improvement of earphones and headphones, which are eco-friendly to respond to the environmental problems related to plastic waste. The European Union imported US$96 microphones, loudspeakers, and headphones from Bhutan in the year 2022, which was statistically captured by the United Nations COMTRADE database on international trade. 'Bluetooth - In-Ear/Plug' takes first place on the list, with 10.5 million people among British citizens. On the contrary,' Wired-In-Ear/Plug' ranks last, at 5.9 million people.

Further, the German Bluetooth Headphones Market held the largest market share, and the UK Bluetooth Headphones Market was the fastest-growing market in the European region.

The Asia-Pacific Bluetooth Headphones Market is expected to grow at the fastest CAGR from 2024 to 2032. The growth of the market can be explained by an increase in the adoption of in-ear earbuds and wireless headphones. Indian true wireless earbuds shipments have seen a 168% growth recorded in Q2 2022. Domestic companies hold over 70% of the total TWS market in the country. The local production of those companies already accounts for 16%, an all-time high. Furthermore, the massive adoption of this technology among the young generation is taking root in the Asia Pacific area.

Moreover, China’s Bluetooth Headphones Market held the largest market share, and the Indian Bluetooth Headphones Market was the fastest-growing market in the Asia-Pacific region.