Increasing penetration of smartphone is augmenting the growth of the global earphone and headphone market
Increasing penetration of mobile devices is expected to foster the growth of the global earphone and headphone market. According to the India Brand Equity Foundation, in 2019, India had nearly 502 million smartphone users, accounting for almost 77 percent of Indians having access to the internet. Smartphone users are expected to reach 780 million in 2021. Additionally, the growing trend of mobile shopping, e-banking, and BOYD is increasing the adoption of smartphones and tablets which is again fostering the growth of the earphone and headphone market. Expanding distribution channels such as multi-brand distributors and retailers of headphones is expected to positively impact the growth of the market. 1. In May 2021, Xiaomi has announced the launch of a new pair of truly wireless earphones in China 2. In December 2020, Noise has launched a barrage of new products for the Indian market. It includes a wide range of au...