Hearable Devices Market By Type (Bluetooth, Wi-Fi) By Application (Consumers, Healthcare) and Region - Global Forecast to 2026
17 May 2018
- find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
The global hearable devices market was valued at over US$ 14 Bn in 2017 and is expected to register a CAGR of over 9.3%. The report offers in-depth insights, revenue details, and other vital information regarding the global hearable devices market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026. The report also offers insightful and detailed information regarding the various key players operating in the global hearable devices market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global hearable devices market is segmented on the basis of type, application, and region/country.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Hearables or smart headphones are technically advanced electronic in-ear-devices designed for multiple purposes, ranging from wireless transmission to communication objectives, medical monitoring, and fitness tracking
Global Hearable Devices Market: Market Dynamics
Major factor driving growth of the hearable devices market is technological advancements in electronic devices leading to miniaturization of product and increasing demand for advanced headphones that assist in daily life. In addition, increasing demand for portable headphones with health monitoring application and more advanced features such as high storage capacity, built-in rechargeable battery, hand free gestures, etc. is increasing its demand among youngster is another factor expected to fuel growth of the global hearable devices market. Moreover, rising prevalence of hearing loss among children and adults in developed and developing countries, increasing demand for hear aid devices is expected to support growth of the global hearable devices market.
However, High cost of headphones and product defects related to usage are major factors restraining growth of the global hearable devices market. in addition, stringent government regulation related to use of headphone due to side effects is expected to challenge growth of the global hearable devices market to certain extent.
Technological advancements such as introduction of artificial intelligence assistance in headphone and increasing R&D activities by manufacturers is expected to create new opportunities in terms of revenue to players operating in the hearable devices market over the forecast period.
Market Analysis by Type:
On the basis of type segmentation, Bluetooth segment is expected to contribute major revenue share and expected to maintain its dominance over the forecast period owing to various benefits such as direct connectivity to cell phone, TV, computer, laptops, etc. Wi-Fi segment is expected to register highest CAGR of 9.0% in the global hearable devices market over the forecast period.
Market Analysis by Application:
On the basis of application segmentation. Consumer segment is expected to contribute major revenue share and expected to maintain its dominance over the forecast period owing to various functionality offered by the devices such as ambient noise control, hand free calls, et. Healthcare segment is expected to register highest CAGR of 9% over the forecast period in the global hearable devices market.
Market Analysis by Region/Country:
US market is expected to dominate the global hearable devices market, and it accounts for largest market revenue share in 2017 as compared to that of markets in other regions. Dominance by US market is expected to continue over the forecast period with comparatively moderate CAGR than that of other regions, owing increasing health concern among individual leading increasing demand for headphone and ear buds with various advanced features such as health monitoring, 3D sound recording, standalone Hi-Fi music player, etc. and increasing government expenditure on healthcare sector and initiatives by various organization such as Hearing Industries Association (HIA) and American Speech-Language Hearing Association (ASHA) is expected to support growth of the hearable devices market. In 2017 for instance, The U.S. Senate passed the Over-the-Counter Hearing Aid Act which would make certain types of hearing aids available over the counter for persons with mild to moderate hearing loss.
The market in Europe is expected to account for significant revenue share in 2017, and this can be attributed to growing health concerns among individuals and increasing demand for wearable devices such as smart wireless earbuds that assist in health monitoring which is expected to boost growth of the market in Europe. Increasing R&D activities and strong supply distribution network is expected to create new opportunities in terms of revenue which is expected to support growth of the market in this region. In April 2018 for instance, Sivantos Group established European distribution center in Poznan, Poland in order to increase its geographic presence.
The China hearable devices market growth is expected to expand at a significant rate owing to presence of a number of hearable devices manufacturers and distributors, coupled with rising inclination towards technologically advanced devices among consumers in the country. In addition, increasing disposable income of consumers and growing trend and adoption of hearable devices such as ear plugs, earbuds, wireless headphones, etc. among various age-groups are other major factors projected to boost growth of the hearable devices market in the country. Moreover, increasing domestic manufacturing of hearable and connected devices, primarily due to availability of raw materials and labor at lower cost, and favorable government regulations for domestic manufacturing and distribution in the country are other factors anticipated to boost growth of the China market over the forecast period.
Increasing development of technologically advanced hearable devices by manufacturers in the country is a major factor expected to boost growth of the hearable devices market in Japan. In addition, presence of major players such as Sony Corporation and others, and increasing number of manufacturers in the country is expected to drive adoption of such innovative devices over the next five years. In 2017 for instance, Fujitsu announced launch of the world’s first hands-free hearable device that recognizes a person’s voice and location of the speaker, and also automatically changes to the appropriate language without need to physically touch or change settings in the device.
Global Hearable Devices Market Segmentation, by Type:
Global Hearable Devices Market Segmentation, by Application:
Global Hearable Devices Market Segmentation, by Region/Country:
- South Korea
- GN Store Nord A/S
- Sivantos Pte. Ltd.
- Apple Inc.
- Samsung Electronics Co. Ltd.
- Sennheiser electronics GmbH & Co. KG
- Sony Corporation
- Starkey Hearing Technology, Inc.
- Bragi GmbH
- Miracle-Ear, Inc.
- Valancell, Inc.
- Earin AB
- Nuheara Limited
- Eargo Inc.
- 1.0 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Type
- 2.2.2 Market Snapshot, By Application
- 2.0.3 Market Snapshot, By Region/Country
- 2.0.4 Prudour Opportunity Map Analysis
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