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Hearable Devices Market

Hearable Devices Market

Hearable Devices Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

175

Base Year:

2021

Date

Feb - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1273

Segments Covered
  • 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
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 19.21 Billion
Revenue 2028Revenue 2028: USD 37.37 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 9.9%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Hearable Devices Market Share

Hearable Devices Market: By Product, Technology, Application, and Region Market Synopsis:

The global Hearable Devices market was valued at USD 19.21 Billion in 2021 and is projected to attain a value of USD 37.37 Billion by 2028 at a CAGR of around 9.9% over the forecast period, 2022–2028. Global demand for hearing aids has rapidly increased due to growing prevalence of sensory impairments and aging population. The global prevalence rate is expected to increase from 9% in 2010 to 16% by 2050. In addition, technological advancements have led to the development of more complex and user-friendly hearing aids that enhance the quality of life for those suffering from sensory impairments. This action has had a positive impact on not only the population suffering from hearing loss but also their family members.

Growing Prevalence of Sensory Impairments and Ageing Population to Drive Growth of Hearable Devices Market

The number of elderly people in western countries is rising rapidly. However, this does not only impact the aging society itself but also the capability of people to live independently and stay healthy. According to a survey conducted by World Health Organization (WHO), more than 1 in 5 people over 65 years old suffers from hearing loss. This number is expected to rise to more than 2 in 8 people by 2030. This will create a huge demand for hearing aids.

Hearable Devices Market Size, 2021 To 2028 (USD Billion)

Market Segmentation:

Below tree is interactive. You can click the nodes to get more information.

By Type, Hearing Aids are Holding the Major Share of the Hearable Devices Market

The most popular hearable device is the hearing aid. Hearing aids can help people with all different kinds of hearing problems, including hearing loss and some balance problems. Hearing aids are so popular because they work better than other devices that do similar things. They are much more affordable than they used to be too. There are so many options for people who wear hearing aids too. They can get them to go behind the ear, in the ear, or even completely in the canal. They have batteries that last longer and streamline profiles so they are more comfortable. As of 2021, more than 1048 million people are using hearing aids and the number is constantly increasing due to its increasing aging population and rising unhealthy hearing habits.

By Technology, Wireless to Dominate Hearable Devices Market

Wireless hearables as hearing aids, earphone, headphones, and wireless earbuds with smart abilities including communication, health monitoring, tracking through fitness apps etc. are currently gaining in popularity within the lifestyle technology market overall. In 2021, over 450 million wireless wearables were sold worldwide. This number will include a significant proportion of hearables. In the past year, there have been many new entrants into the hearable device market from established hardware and software manufacturers such as Apple, Samsung, Google, SENA etc., all vying to get a slice of this growing market.

Asia Pacific is the Largest and Fastest Growing Hearable Devices Market

With many of the major manufacturers coming from Asia, it was no surprise that Asia Pacific took the largest share in 2021. With over half of all Hearable Devices sold in APAC, typically more affordable prices for similar products are sold elsewhere along with mass market adoption of wireless technology. The region houses over 60% of the global population and it has highest number of aging and youth population who keep on purchasing hearing aids and headphones. In Asia Pacific, India and China are major contributor to the regional market, which is followed by Japan and Australia. China has the largest consumer base as well as it is the leading producer of Hearable Devices across the globe.

Key Players:

Some of the major players in the market are 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).

The Hearable Devices Market is Segmented as follows:

Parameter Details
Segments Covered
  • Product (Headphone, Headset)
  • Technology (Bluetooth, Wi-Fi, Others)
  • Application (Consumer, Healthcare, Others)
  • Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • 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).
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

The Hearable Devices Market Scope can be Tabulated as below:

Hearable Devices Market to Reach Valuation of USD 37.37 Billion by 2028 - Increasing Demand for Health Monitoring Applications and Hearing Aids to Bloom Market
In terms of revenue, the Global Hearable Devices Market is expected to reach USD USD 37.37 Billion billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 9.9% from 2022 to 2028. The Global Hearable Devices Market is mainly driven by the factors such as increasing demand for health moni...
FAQ
Frequently Asked Question
  • The global Hearable Devices valued at USD 19.21 Billion in 2020 and is expected to reach USD 37.37 Billion in 2028 growing at a CAGR of 9.9%.

  • The prominent players in the market are 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)..

  • The market is project to grow at a CAGR of 9.9% between 2021 and 2028.

  • The driving factors of the Hearable Devices include

    • Growing Prevalence of Sensory Impairments and Ageing Population

  • Asia Pacific was the leading regional segment of the Hearable Devices in 2020.