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 21st 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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