The US earphone/headphone market will be worth US$9 billion in 5 years
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The earphone and headphone market in the United States is set to grow at a compound annual growth rate (CAGR) of 12%, until it is worth US$9 billion in 2024. Earphones of the truly wireless variety have reportedly been the basis of a significant trend since the introduction of the Bragi Dash set in 2015.
However, it is the wireless variety (e.g. neckbuds) that have grown to gain over 33% of this market, according to the latest data. They have grown this popular through the greater convenience, better look, ease of use with home entertainment systems and improvements in audio quality they offer.
The new figures also indicated that earbuds are also becoming a prominent category within this market. Their most common use-cases are while engaging in entertainment, gaming, sports or fitness activities. However, a significant number of consumers also still use headphones to game or work out.
The most popular form of distributor for headphones or earphones in the United States include large chains such as Walmart, supermarkets, exclusive stores, multi-branded stores and online stores. Of these, the latter is estimated to overtake them due to increasing trends towards internet shopping, internet use and smartphone use.