Headphone market rocking; Sales cranked up to 11
Worldwide shipments of headphones rose nearly 10% last year to reach 286 million units, with no end to the market growth in sight, Futuresource Consulting says. The U.K.-based consulting and research firm expects headphone shipments to rise 8% this year to 309 million units. Futuresource sees headphone shipments rising steadily for the next four years, hitting 355 million units in 2018. Meanwhile, retail sales are seen growing even faster than unit shipments as more consumers shift to premium headphones such as those made by Apple (AAPL) -owned Beats Electronics. Last year, retail sales of headphones rose 16% to $8.4 billion, Futuresource said. This year, global headphone sales are seen climbing 18% to $9.9 billion. Futuresource expects headphone sales to reach $11.3 billion in 2017 and hold that level in 2018. “We’re seeing nothing short of a headphones renaissance,” Futuresource analyst Rasika Iyer said in a statement Thursday. “With prices…