Headphone Market has Grown by 22% in the First Quarter of 2020

Headphone Market has Grown by 22% in the First Quarter of 2020

There has been an increase in the demand for headsets worldwide during the first quarter of 2020. In fact, the overall headset market has grown by 22% when compared to the first quarter of 2019. This is equivalent to an amount of 7.2 billion US dollars.

When you deep dive and take a look at the headsets that were being sold during the first quarter of 2020, you will notice that 40% of them are wireless headsets. It was just 36% in the previous year.
 
The leading headset seller is Apple, and it is followed by Samsung. The Galaxy Buds and Galaxy Buds+ offered by Samsung has helped it to retain the second place. Samsung is offering these headsets along with its flagship smartphones. Xiaomi secures third place in terms of headset sales.

The leading headset manufacturers have received positive results by catering to the needs of customers during the first quarter. However, there is still a delay in the offering of new products coming into the market. We will be able to see the negative consequences of this during the second quarter. It will create a massive impact on the supply-demand chain.

Headphone Market has Grown by 22% in the First Quarter of 2020
Headphone Market has Grown by 22% in the First Quarter of 2020 | Source: Unsplash

Productions in China came into a halt in February due to the virus. However, the manufacturers have now started their production lines, and we will be able to expect a delay in the second quarter of 2020.

The overall headset sales in the Asia-Pacific region have dropped by around 4%. However, we can further expect the demand for headsets to rise as working from home has become the new norm. Therefore, more people start buying headphones, which they can use to work from home.
 

According to analysts, the leading headset brands would lower their prices in the next quarter to keep up their businesses stable with declining revenues.

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