Every day while on your way to work, you would often spot people who have plugged their earphone and our walking oblivious to the surroundings. More than 90% of the people listen to the music through mobile phone while on the move. Not only the music calms them down it also rejuvenates them for a hectic day. Music for most is like a stress buster, and for some it’s a passion. If you jog your memory you would recollect most of the advertisements or movies showing people carrying big radio sets on their shoulder and walking for miles. That was way before TV or mobile were invented.
Advancement of technology has made everything possible. No one from the 80’s would imagine that they would have a portable phone which would double up as radio. Invention of mobile has given a major boost to music accessory market. The idea of listening to music through thin, light weight earphone became a rage in the market. The demand for music accessory gave a lot of opportunities for the players to invest in the market. Many mobile companies also had tie ups with music accessory companies, that resulted in better speakers and earphones. The latest invention of wireless speakers has freed people from the hassle of wires.
A market research report states that Global Mobile Music Accessories market is estimated to grow at a compound annual growth rate (CAGR) of 12.55 % by the year 2016. Technological invention in the area of mobile accessory is cited to be the major reason for the growth. Companies like Bose Corp, Skullcandy Inc, Sony Corp, Electronics LLC and Sennheiser Electronic GmbH & Co. KG are leading the market.