Hearables Market Analysis

Global Hearables Market Overview

Hearables Market Size was valued at USD 26.0 Billion in 2022. The Hearables market is projected to grow from USD 30.8 Billion in 2023 to USD 119.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.50% during the forecast period (2024 - 2032). Rapid technical breakthroughs, rising demand for miniaturized wearable electronic gadgets, and increased demand for wireless headphones and infotainment devices, are the key market drivers enhancing the market growth.

Type: Secondary Research, Primary Research, MRFR Database and Analyst Review

Hearables Market Trends

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  Rise in demand for wireless headphones and infotainment devices is driving the market growth

  
  

The transition of headphones from wired to wireless has had a substantial impact on market expansion. Over the past ten years, there have been significant technological advancements in the hearables sector. Headphones play a sizable role in the market for hearable gadgets, which is expanding at a rapid rate. For gadgets like laptops, smartphones, digital music systems, car infotainment systems, smart TVs, etc., headphones are important accessories. High-definition sound quality, ease, capabilities for multiple users, freedom from wire maintenance, mobility, and portability are just a few advantages that come with smart headphones. As a result, one element fueling the expansion of the hearables market is the rise in infotainment device usage.

Many advantages, including hands-free phoning and communication as well as voice communication in a noisy setting, might result from the development of hearable computing. Additionally, it will offer a solution by fusing in-ear and outside microphone signals, which will have an even greater impact on the hearable market. Additionally, the sales of electronic infotainment devices like smartphones, laptops, vehicles with infotainment systems, and others are expanding quickly, and headphones are a key accessory for the devices. Smart headsets provide numerous advantages like a variety of user facilities and high-definition sound quality, among others. Thus, one of the factors fueling market growth is the rise in infotainment device usage.

Due to consumers switching from using wired headphones to wireless headphones, the demand for wireless earbuds and headphones is rising. This is because wireless earbuds and headphones are equipped with Bluetooth and Wi-Fi technology, allowing users to connect their phones to other devices and headsets. The following cutting-edge technology, known as hearable computing, combines the signals from in-ear and external microphones to give a solution that encourages hands-free calling and communication, ensures voice communication in a noisy setting, and promotes voice communication. Additionally, the market is expanding due to the spike in demand for miniature wearable electronic devices for health monitoring. Thus, driving the Hearables market revenue.

Hearables Market Segment Insights

Hearables Product Insights

The Hearables Market segmentation, based on product, includes headsets, earbuds, and hearing aids. Hearing aids segment dominated the global market in 2022. People with a variety of hearing problems, such as hearing loss and some balance problems, can benefit from wearing hearing aids. The reason hearing aids are so well-liked is that they operate better than other devices that serve the same purposes. Today, hearing aid users have a wide range of possibilities and hearing aids are substantially less expensive. They could force them totally into the canal or just behind the ear. They have more comfortable slimmer designs and longer-lasting batteries.

Hearables Type Insights

The Hearables Market segmentation, based on type, includes on ear, in ear, and over ear. On ear segment dominated the global market in 2022. Because it has less of an adverse effect on a person's hearing capacities than In-Ear and during-Ear devices, its expected rise during the projection period is primarily due to this.

Hearables Connectivity Technology Insights

The Hearables Market segmentation, based on connectivity technology, includes wired and wireless. Wireless segment dominated the global market in 2022. Due to customers' shifting preferences from wired to wireless headphones, there is a significant increase in demand for wireless headphones, which is a major factor in the growth of the hearables market. The Bluetooth and Wi-Fi capabilities of the wireless earbuds and headphones allow users to connect their phones to other devices and headsets. Additionally, wireless earbuds contain intelligent features including communication, fitness app tracking, and health monitoring. As a result, it is predicted that wireless technology will rule the wearables market for the foreseeable future.

Hearables End User Insights

The Hearables Market segmentation, based on end user, includes consumer, industrial, and healthcare. The consumer segment dominated the Hearables Market in 2022. The category is anticipated to develop as awareness of the benefits of using hearing aids to prevent hearing loss in various applications increases.

Figure 1: Hearables Market, by End User, 2022 & 2032 (USD Billion)

Type: Secondary Research, Primary Research, MRFR Database and Analyst Review

Hearables Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Hearables Market dominated this market in 2022 (45.80%). This is because the demand for hearable goods in the region is increasing as jack-less mobile phones become more widely used and as electronic goods spending soars. Additionally, the internet of things (IoT), machine learning (ML), artificial intelligence (AI), and the rapidly developing blockchain technology are the primary forces behind these regions' flourishing e-commerce industries. Further, the U.S. Hearables market held the largest market share, and the Canada Hearables market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: HEARABLES MARKET SHARE BY REGION 2022 (USD Billion)

Type: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Hearables market accounted for the healthy market share in 2022. Important suppliers in this regional market are providing hearables at competitive prices to enable them to serve this market. Further, the German Hearables market held the largest market share, and the U.K Hearables market was the fastest growing market in the European region

The Asia Pacific Hearables market is expected to register significant growth from 2023 to 2032. The main drivers of this market's expansion are the rising demand for new technologies from the 18 to 35-year-old age group in the developing countries of the region, such as China, India, and Japan. With the expansion of technological breakthroughs in the personal use of hearable devices, such as true wireless and wireless earbuds, the industry is also experiencing increasing demand. The rising use of jack-less mobile phones and the spike in consumer expenditure on electronics are driving up demand for audio items like wireless earbuds in these nations. Moreover, China’s Hearables market held the largest market share, and the Indian Hearables market was the fastest growing market in the Asia-Pacific region.

Hearables Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Hearables market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Hearables industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Hearables industry to benefit clients and increase the market sector. In recent years, the Hearables industry has offered some of the most significant advantages to medicine. Major players in the Hearables market, including Apple Inc., Bose Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Sennheiser Electronic GmBH & Co. Kg, Koninklijke Philips N.V., Bragi GmBH, Skullcandy, Inc., Jabra (GN Store Nord A/S), and LG Electronics, are attempting to increase market demand by investing in research and development operations.

Electronics, semiconductors, medical equipment, tools, and devices are all produced by Sony Group Corp. (Sony). Products sold by the corporation include televisions, mobile phones, cameras, audio/video equipment, video game consoles, computer software, semiconductors, batteries, and other electrical components. Sony is not only responsible for the operation of television and digital networks, but also for the production, acquisition, and distribution of motion films, television series, and recorded music. Along with life and non-life insurance, it also offers banking and financial services. The business advertises its goods through distributors, sales divisions, and online direct sales. It sells goods under the brands Airpeak, Sony, PlayStation, Walkman, Blu-ray, Cyber-shot, Bravia, Exmor, and Experia. The corporation has operations in the Americas, Europe, the Middle East, Asia-Pacific, and Africa. The headquarters of Sony are in Minato-Ku, Tokyo, Japan. A collaboration agreement and various auxiliary agreements were signed in September 2022 by Sony Corporation ("Sony") and WS Audiology A/S to collaborate on the creation and provision of innovative over-the-counter ("OTC") self-fitting hearing aid devices and services.

Medical device production and distribution are done by WS Audiology A/S. To hearing healthcare specialists, governments, retail chains, and independent organisations, the company provides to design hearing aids and supplies. Worldwide consumers are served by WS Audiology. WS Audiology A/S introduced a new, audacious HearUSA brand in October 2022. To bring hearing care professionals (HCPs) and the 48 million people living with hearing loss to the 'Sound of the New Age' of hearing possibilities, the new brand unites 1,000 team members, 360 hearing centres, and 28 brands. Over the coming years, HearUSA wants to launch a number of reinvented hearing experience centres that will challenge clients' preconceptions regarding every facet of hearing aids.

Key Companies in the Hearables market include

• Apple Inc.


• Bose Corporation


• Samsung Electronics Co. Ltd.


• Sony Corporation


• Sennheiser Electronic GmBH & Co. Kg


• Koninklijke Philips N.V.


• Bragi GmBH


• Skullcandy, Inc.


• Jabra (GN Store Nord A/S)


• LG Electronics

Hearables Industry Developments

November 2022 Together, Starkey and Special Olympics International are expanding access to hearing health care for athletes in Puerto Rico, and they are helping to make healthy hearing more accessible to people with intellectual disabilities around the world.

April 2020 Re sound assist live, a new hearing care solution introduced by GN Group, is expected to replace the requirement for senior patients to visit their doctors' offices during these ongoing campaigns. COVID-19 indicated pandemic conditions

Hearables Market Segmentation

Hearables Product Outlook

• Headsets


• Earbuds


• Hearing Aids

Hearables Type Outlook

• On Ear


• In Ear


• Over Ear

Hearables Connectivity Technology Outlook

• Wired


• Wireless

Hearables End User Outlook

• Consumer


• Industrial


• Healthcare

Hearables Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America