The wireless headphone market could be worth US$34 billion in 5 years
As more and more mobile devices lose the common or garden headphone jack, wireless headsets are becoming more popular to compensate. One example of these, wireless headphones, may be particularly successful as they, admittedly, do not need anything that may tangle up or fray beyond use over time. The market for these products is now projected to be capable of a compound annual growth rate (CAGR) of 20% from now until 2024. At that point, it may be worth as much as US$34 billion in total.
These predictions are made in a new report by ResearchAndMarkets.com. It estimates that the wireless headphone market can grow by this much in 5 years by keeping up with the trends in mobile audio and the devices that deliver it. This includes the integration of 3D surround sound delivery and onboard data storage. While these features are particularly amenable to the on- or over-ear wireless headphone, these novel functions also go beyond media consumption. They also include next-gen sensor technology that enable (for example) controls via gestures and their recognition; active head tracking and maybe even health tracking through biometrics. In addition, ResearchAndMarkets.com believes that wireless headphones may become better integrated into entertainment system used at home and not just on the move.
Wireless headphones could also be a useful vector for virtual assistants. This trend has already made itself apparent at CES 2019, at which many wireless audio products with Amazon Alexa built in were showcased. However, this market will also be driven by those who want to listen to music, podcasts, streams and other content on their mobile devices. All in all, it seems that wireless ear candy are an unavoidable part of the future of personal electronics.