The hearable market has grown rapidly, with projections indicating an increase from $26.00 billion in 2023 to $30.22 billion in 2024, at a compound annual growth rate (CAGR) of 16.2%. This historical growth is driven by increased use of infotainment devices, adoption of smart headphones, rise of jack-less mobile phones, growing adoption of hearable devices, and demand for miniaturized wearable electronics. Looking ahead, the market is expected to grow to $55.63 billion by 2028, with a CAGR of 16.5%. This anticipated growth is driven by rising demand for wireless headphones, increased adoption of hearable devices, smart electronics, popularity of truly wireless earbuds, and continued use of infotainment devices. Key trends include technological advancements, integration with IoT, voice assistants, connectivity features, and connectivity technologies.
Global Hearable Market Key Driver
The growing demand for wireless headphones is set to boost the hearable market. Wireless headphones use Bluetooth or other wireless technologies to transmit audio, offering convenience and freedom of movement. The rise in demand is driven by increasing smartphone adoption, the convenience of wireless connectivity, and advancements in audio technology. Hearables enhance the wireless headphone experience by integrating features like health monitoring and AI assistants. According to the Consumer Technology Association in January 2022, wireless earbud shipment revenues increased by 3% from 2021 to 2022, reaching $9.3 billion. This growing demand for wireless headphones is driving the hearable market.
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Global Hearable Market Segments
The hearable market covered in this report is segmented –
1) By Product: Headsets, Earbuds, Hearing Aids
2) By Type: In-Ear, Over-Ear, On-Ear
3) By Communication Technology: Bluetooth, Wireless, Wi-Fi, Wired, Other Communication Technologies
4) By Application: Industrial Noise Cancellation, Industrial Wireless Audio
5) By End-User: Industrial, Healthcare, Manufacturing, Construction, Consumer
By Geography:The regions covered in the hearable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the hearable market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Hearable Industry Players
Apple Inc., Samsung Electronics Co. Ltd., Sony Group Corporation, LG Electronics Inc., Xiaomi Corporation, Bose Corporation, Koninklijke Philips N.V., Demant A/S, Starkey Hearing Technologies, Razer Inc., Jabra, Voxx International Corporation, Sennheiser electronic GmbH & Co. KG, Widex A/S, Miracle-Ear, Skullcandy Inc., WS Audiology, Eargo Inc., Beats Electronics LLC, Doppler Labs Inc., Bragi GmbH, AKG Acoustics GmbH, Earin AB, GN Audio A/S
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Hearable Market Overview
Hearables are wearable devices designed for in-ear use, combining hearing aid functionalities with features like wireless connectivity and smart assistant capabilities. They enhance audio quality, offer health monitoring, and enable seamless communication, making them versatile tools for everyday use.
Hearable Global Market Report 2023 provides data on the global hearable market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The hearable market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
