Headset Market Size Worth $20,465.7 Million By 2024

· A headset is a combination of headphone and microphone, and are made with either a single or double earpiece. Headsets have become a necessity as an accessory among a wide population demographic, ranging from employees at call centers and enterprises, to a much more general crowd such as fitness and sports enthusiasts. With the advent of Bluetooth and wireless accessories, headsets have become much more comfortable and safer in the working environment. The headset market is expected to witness continued growth in the coming years, as the importance of business process outsourcing grows, necessitating efficient conversation with clients.

· Application-specific headsets have witnessed huge market demand in recent years, aided by the rise in disposable income. Additionally, consumers have become very selective about the type of headset they desire on account of the growth in consumer spending. There has been constant experimentation and R&D in terms of perfecting the design and aesthetics of these headsets by major market players such as Apple, Sennheiser, Sony, Bose, Harman and Panasonic, which has led to availability of a number of options for consumers to purchase. Some of the advanced technologies that have been witnessed in this space in recent years include Bone Conduction, Near-field Magnetic Inductance Technology to go along with various design improvements.

· The continued growth in the adoption of smartphones, tablets, laptops and similar portable devices is expected to drive the market in the coming years. Working professionals have been long time customers in this space, as besides improving communication and clarity, headsets also prevent any bodily discomfort for the user. According to a study by the Santa Clara Valley Medical, headset usage can reduce neck, upper back and shoulder tension by as much as 41 percent, while an additional research by H.B. Maynard & Co. showed that using hands-free headsets as opposed to traditional telephones in the office showed a 43 percent improvement in productivity. These factors help reduce worker compensation costs, thus making headsets a necessity for big corporations.

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· Sports and fitness wearables have also become an important application area for headsets, with manufacturers offering novel features such as fitness tracking and monitoring integrated with these devices. Fitness and exercise coaches teaching a large audience at the same time make use of headsets for clarity of instructions. Another area where headsets have gained massive demand is the e-sports arena, which has become a very lucrative business, especially with the rise of massively multiplayer online (MMO) games in the past few years, which has led to creation of a number of annual e-sports tournaments wherein participants from all over the world compete. As many of these competitions are team based, headsets are the most critical aspect for proper team communication.

· In terms of product, the market is broadly segmented into in-ear and over-ear devices. The in-ear segment has witnessed massive popularity among consumers since their introduction, on account of their portability, comfort as well as availability. Many start-ups in this space are trying to bring their own uniqueness in their products, thus increasing the anticipation among consumers. Over-ear headsets have witnessed steady growth in recent years, as they offer a rich experience to the user; however, they are not as portable and comfortable as their in-ear counterpart. Areas such as gaming, e-sports and BPOs are frequent end-users of the segment.

· In terms of technology, the market has been segmented into wired and wireless segments. The wired segment makes use of ANC (active noise control) technology, and has the benefits of being cheaper, easily available and portable. Wired headsets traditionally face issues such as cord entanglement, which has been addressed in the market through manufacturers such as Boat, who have tangle-free headsets. The wireless segment, which uses technologies such as ANC, Bluetooth and NFMI, among others, has seen explosive growth in recent years. At the cost of being more expensive, these headsets are much more portable and comfortable due to the absence of wire, and have become hugely popular among fitness and sports enthusiasts.

· Based on application, the market has been segmented into personal and commercial segments. The personal segment comprises of fitness and sports activities, gaming, virtual reality, and casual use (watching movies, listening to music). The commercial segment has wide-ranging applications such as organizations, media establishment and BPO enterprises, among others. Commercial establishments are expected to remain a key market for headsets in the coming years, with brands such as Bose, Sony and Logitech enabling technological advancements to cater to this demographic. Another segment which is expected to generate sizeable revenue for the market is gaming and VR, which have continuously grown to become more immersive, thereby necessitating the presence of advanced headsets.

· Asia Pacific is anticipated to be a vital revenue-generating region for the headset market in coming years, on account of the presence of major multinational organizations in fast-growing economies like India and China. Moreover, the region has also been a major deployer of BPO and call center services, thus boosting market demand in the region. Additionally, the emergence of major electronics brands such as Oppo, Vivo, Xiaomi and OnePlus has also given a push to the market, with these companies having introduced their own brands of wireless and wired headsets targeted towards the casual crowd.

Recent Trends and Developments

· In June 2020, JBL by HARMAN launched its first-ever JBL headset range in India that has been designed for gamers. The range includes seven headset models available in both wired and wireless forms, and offers options for both casual and competitive gamers. The range is led by the flagship JBL Quantum ONE, which has been built exclusively with JBL QuantumSPHERE 360 sound technology. All the headsets are compatible with major gaming platforms such as PC, Mac, Xbox, PlayStation, Nintendo Switch, mobile and VR.

· In May 2020, Razer, which specializes in high-end gaming accessories, announced an exclusive peripherals partnership with Helix eSports for the latter’s North American gaming centers. The partnership was rolled out to gaming centers on May 23, coinciding with the opening of Helix eSport’s Patriot Place location. Razer will also be supporting tournaments to be held by Helix eSports that will be taking place across all Helix locations.

· In January 2020, Audio-Technica showcased its ATH-G1WL wireless and ATH-G1 premium gaming headsets at CES 2020. The headsets offer precision audio reproduction and powerful performance as well as comfort and convenience, and are directed towards both esports players and casual gamers. The wired ATH-G1 is compatible with PC, PlayStation 4, Xbox One and any platform with a 3.5 mm headset connector, while the ATH-G1WL is compatible with laptops and PCs via its wireless USB Type A transceiver.

· The current coronavirus pandemic has forced countries to declare lockdown, with companies encouraging their employees to work from home. Headsets have become very critical in this regard, as online team meetings and video calling sessions have increased drastically, which require efficient communication. Gaming and eSports have also grown by leaps and bounds during this lockdown phase, as a means of relaxation and entertainment. Platforms such as Twitch and YouTube Gaming have witnessed a surge in growth, with usage hours of these services increasing by around 20%. Moreover, organizations and individuals are also organizing e-sports tournaments to raise money in fighting the pandemic, which has again influenced the market growth for headsets.