Hearable Devices Market Size Projected to Reach USD 37.37 Billion by 2028
market size was valued at USD 19.21 Billion in 2021 and is projected to reach USD 37.37 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 9.9% from 2022 to 2028. The global wearable device market is used to transmit and receive various audio signals via wireless technology, such as Wi-Fi, Bluetooth, and AirPlay, among others. Wireless headphones, microphones, speakers, soundbars, sound systems, radio tunes, and various other types of are available on the market.
The hearable device market is expected to grow at a very high Compound Annual Growth Rate (CAGR) during the forecast period. The market opportunity and the forthcoming trend of the visual user interface are mainly driven by earbuds with built-in microphones. Also, with the help of microphones that record surround sound, earphones perform better in noise cancellation compared to headphones. Other key features driving this market are the growing demand for smartphones as a source of entertainment, consumer preferences for wearable and portable items, increased demand for healthcare applications and hearing aids, and high-quality R&D investments for OEMs. The demand for seamless communication and easy access to information and services has grown in recent years. The advanced features of wireless audio equipment such as portable, easy handling, and remote access to audio communications has increased the popularity of . Therefore, the increase in demand for mobile services among customers is expected to further the market for .
Strict government regulations have been put in place regarding the frequency range of hearing devices. Additionally, the use of these devices over 85 decibel (dB) for 8 hours or more may adversely affect the hearing ability of users. These factors limit the expansion of the market. However, the rapid development of technology and the growing need for the comfort of use such as convenience and remote access to customers will present significant opportunities for market players.
The market for is categorized based on product type, technology, and application. The product type component includes headsets & wireless microphones, wireless speaker systems, audio bars, and more components that include radio tuning, power amplifier, A/V controller. Based on technology, the market is divided into Bluetooth, Wi-Fi, AirPlay, and more. On the basis of application, the market is divided into commercial, consumer, automotive, and more, including security and safety. The global market is distributed in North America, Europe, Asia Pacific, and around the world. The largest market share will be dominated by Asia Pacific due to technological advances in the region, an increase in the number of music listeners, and the growing popularity of video and audio entertainment in the region creating the need for audio devices.
Prominent players that provide worldwide include Samsung Electronics Co., Ltd. (South Korea), Apple Inc. (US), Sony Corporation (Japan), Sennheiser Electronics GmBH, co. kg (Germany), and GN Store Nord A/S (Denmark).. These major players have used a variety of organic and inorganic growth strategies such as integration and acquisition, new product launches, extensions, contracts, partnerships, partnerships, and others to strengthen their position in the market.
Browse the full Report - Hearable Devices Market by Product (Headphone, Headset), by Technology (Bluetooth, Wi-Fi, Others), by Application (Consumer, Healthcare, Others), by Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)