DUBLIN--(BUSINESS WIRE)--The "Hearables Market by Products, Type, Connectivity Technology, and End User: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
The global hearables market size was valued at $21.20 billion in 2018, and is projected to reach $93.90 billion by 2026, growing at a CAGR of 17.2% from 2019 to 2026.
Hearables is an electronic device that is designed for multiple purposes that range from wireless transmission to communication purposes, fitness tracking, and medical monitoring. Hearables are featured with biometric, proximity, movement, and other sensors that enable them to collect context about user. Hearable devices are technically advanced electronic devices that are designed for multiple purposes ranging from wireless transmission to communication objectives. Also, these devices perform various functions such as heart rate tracking voice based personal assistants, contextual location-based suggestions, environment-based noise suppression or audio enhancement, and gesture & touch-based control along with is primary function of listening to audio signals.
Headphones have evolved and witnessed vast improvements in terms of technology over the years. Shift in preference of consumers from wired headphones to wireless headphones is expected to affect the market significantly. Wireless communication via Bluetooth technology has been a breakthrough for headphones. This is attributed to the fact that wireless headphones are enabled with Bluetooth and Wi-Fi technology, which enable the users to link their phones to other devices and headsets.
The increase in demand for wireless headphones and infotainment devices is majorly contributing to the hearables market growth, owing to shift in preference of consumers from wired headphones to wireless headphones, as wireless headphones are enabled with Bluetooth and Wi-Fi technology, which enable the users to link their phones to other devices and headsets. In addition, hearable computing is a next emerging technology, which promotes hands-free calling and communication, ensures voice communication in a noisy environment, and provides a solution by combining signals from in-ear and external microphones. Furthermore, surge in demand for miniaturized wearable electronic devices for health monitoring is also driving the market growth. However, adverse effect on hearing ability due to overuse of headphones and high cost of industrial hearable can hinder the market growth.
The global hearable market trends are analyzed across various segments including product, type, communication technology, end user, and region. On the basis of product, the market is categorized into headsets, earbuds, and hearing aids. Depending on the type, the market is sub-segmented into on ear, in ear, and over ear. The communication technology segment is bifurcated into wired and wireless technology, among which the wireless technology segment is further categorized into Bluetooth, Wi-Fi, DECT, and others. Based on the end user, the market is categorized into consumer, industrial, and healthcare. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
- In terms of revenue, the headsets segment contributed the maximum market share in 2018, and is expected to maintain its lead throughout the forecast period.
- Industrial segment is expected to grow at the highest CAGR during the forecast period.
- In 2018, Asia-Pacific accounted for the highest revenue globally, and is expected to dominate the hearables market share in the future.
Market Dynamics
Drivers
- Increase in Demand for Wireless Headphones and infotainment Devices
- Emerging Hearable Computing and Rapid Technological Advancements in Voice User interface
- Surge in Demand for Miniaturized Wearable Electronic Devices for Health Monitoring
Restraints
- Adverse Effect on the Hearing Ability Due To Overuse of Headphones
- High Cost of industrial Hearables
Opportunity
- Growing Focus Toward Adoption of Hearing Devices To Prevent Hearing Loss in industrial Application
Challenge
- Optimizing Battery Life of Hearables Devices
Key Players
- Apple, Inc.
- Bose Corporation
- BRAGI GmbH
- Koninklijke Philips N.V.
- Samsung Electronics Co., Ltd.
- Sony Corporation
- Sennheiser Electronic GMBH & Co., KG
- Skullcandy, Inc.
- Jabra (GN Store Nord A/S)
- LG Electronics
For more information about this report visit https://www.researchandmarkets.com/r/cw2ly3
