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Growth Opportunities in the Global Professional Headset Market, Forecast to 2027

Growth Opportunities in the Global Professional Headset Market, Forecast to 2027

  • July 2021
  • 69 pages
  • ID: 5149319
  • Format: PDF
  • Frost & Sullivan

Summary

Table of Contents

The global professional headset market earned revenues of $1.98 billion in 2020, a record growth of 42.3 percent when compared to 2019.In 2020, the coronavirus disease 2019 (COVID-19) pandemic and associated work from home (WFH) realities triggered unprecedented demand for cloud software communications and collaboration services and professional headsets across the world. With the COVID-19 social-distancing mandates, the number of telecommuters in 2020 increased multi-fold to an estimated 270 million workers globally.In 2020, professional headset penetration among business workers reached 22.9 percent with 124.0 million users out of 542.5 million business workers using pro gear. The installed base of headset users grew by 24.4 percent from 99.7 million in 2019 to 124.0 million with net new adds growing by 70.6 percent. The first half of 2020 was characterized by panic buying with people and businesses purchasing and using whatever tools they could to work as best as they could. As a result of the race to equip the dramatically increased number of remote workers, consumer and professional headsets quickly ran out of stock. Professional headset vendors had to adjust rapidly to new realities—including unprecedented supply-chain challenges. During the second half of 2020, panic buying of headsets declined, with both workers and businesses making more rational decisions about the technology tools they adopted. More users and organizations understood the importance of using enterprise-grade audio products to deliver a far superior user business communications experiences than what can be accomplished using consumer headsets. Most of the growth of professional headsets in 2020 can be attributed to PC USB and UCC headsets, which grew by 72.5 percent in terms of revenues to $1.65 billion and 76.1 percent in terms of unit shipment to 28.1 million. The analyst estimates the total professional headset market to grow at a CAGR of 12.2 percent in terms of sales and 15.3 percent in terms of unit shipment from 2020 to 2027. Revenues are expected to more than double by the end of the forecast period, growing from $1.98 billion in 2020 to $4.44 billion in 2027. As part of this analysis, The analyst has identified market drivers, restraints, competitive trends, and growth opportunities in the global professional headset market. Through extensive primary and secondary research, this analysis provides enterprise communications providers and manufacturers with an in-depth perspective on the dynamics of a changing market. The analyst expects that this analysis will provide vendors with valuable insights to accelerate their growth and expand their penetration opportunities within the headset marketplace.
Author: Alaa Saayed

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