Global Premium Headphone Market to Rise at 15% CAGR Over 8 Years, Says Report

Growing use of the internet, smartphones and fitness activities is fueling a global premium headphone market expected to grow at a 15.2 percent compound annual rate through 2027, said a Tuesday Coherent Market Insights report. Sound quality, price, brand name, headphone type and wearing comfort are the key factors driving customer buying behavior for the $300-$500 segment, it said. Though demand for premium features in headphones is rising in North America and Western Europe markets, Asia Pacific is expected to be the most lucrative market for premium headphones over the forecast period due to increasing adoption of paid digital audio subscriptions, growth of a fitness and sports industry and rising disposable income. China’s per capita disposable income grew by 6.5 percent from 2017 to 2018, it noted.