Revenues for the global headphones market grew by 8.6% in the second quarter of 2022, generating in excess of $10 billion, as the category continues to capture the hearts and wallets of consumers. That’s according to the latest quarterly headphones tracker report from Futuresource Consulting, which shows that true wireless (TWS) is driving the market to new heights.
“There’s no doubt that TWS is stealing the show,” says Saranraj Mathivanan, Senior Market Analyst, Futuresource Consulting. “In Q2 it expanded by 15% year-on-year, resonating with consumers and addressing a wide range of use cases as it pushed overall market growth to new highs. And by achieving revenues of $7.3 billion for the quarter, TWS has solidified its position at the top of the table.”
Overall value growth was heavily influenced by positive performances in the $100 to $199 TWS bracket, predominantly driven by Apple’s improved performance compared to Q2 2021. And In terms of volume share, Apple captured 28% of the global TWS market, with AirPods 3, released in Q4 2021, continuing to perform well.
“Despite the gravity of prevailing economic conditions, headphones continue to climb skywards,” says Mathivanan. “Average selling price for the total headphones market also hit a new high, achieving a year-on-year increase of 6%, to sit at $94.”
Asia-Pacific still out in Front
Looking to the regions, APAC managed to maintain the top spot for TWS by volume, despite being hit hard by the economic slowdown, representing 39.5% of total shipments in Q2. However, META and LATAM regions are now growing their share faster than other geographies, but still have a wide gap to jump.
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