Due to the increasing popularity of mobile devices and changes in consumer media consumption behavior, the market demand for audio and video equipment has increased rapidly, driving the rapid growth of market demand for audio and video products such as audio and video cables and headphones.
(1) Audio and video cable market
Audio and video cables are used for the communication transmission of audio and video signals in multimedia equipment, and are composed of a line body and ports at both ends. The port types of audio and video cables are divided into different types such as HDMI, RCA, DVI, VGA, etc., and the types and efficiency of signals transmitted by different interfaces are different. The development of audio and video technology and the improvement of consumer requirements for audio and video image quality and sound quality have promoted the development of the audio and video cable market. According to Verified Market Research3, the global audio and video streaming market was valued at $1.71 billion in 2020 and is expected to reach $2.35 billion by 2028. In addition, driven by the scale growth of the use of audio-visual equipment, the increase in the demand for 4K/UHD TVs, and the increase in the penetration rate of micro-multimedia equipment, audio and video lines will usher in a broad market development space.
(2) Headphone market
As the sense of boundaries between work and social life disappears, headphones become an important mediator between public and private spaces, and consumers are increasingly focusing on creating comfortable private spaces, increasing the demand for headphones. At the same time, the popularity of smart mobile terminals and the rise of emerging social media such as audio and video streaming media and short videos have also led to a continuous increase in consumer demand for headphones, which has promoted the long-term rapid growth of the global headphone market. According to Grand View Research, the global headphone market was valued at $25.1 billion in 2019 and is expected to reach $126.7 billion by 2027.
At present, TWS (True Wireless Stereo) headphones have gradually become an important product favored by consumers because they do not have complicated cables, do not need to be connected with the sound subject, and are convenient for users to wear. With the continuous improvement of TWS headset’s technology in connection stability, battery life, sound quality, latency, etc., its application space has been further expanded, and it has been quickly applied to more diversified scenarios to promote the rapid development of its market. According to Counterpoint4 data, TWS headset shipments were 100 million units in 2016 and increased to 300 million units in 2021, with an average annual compound growth rate of 100.84%. The TWS headphone market has a strong growth trend and has become the fastest growing segment in the mobile audio equipment market.
Post time: Jan-05-2023