Hearable Electronic Devices Market Size, Share, Industry, Forecast and outlook (2023-2030)
Market Synopsis
Hearable Devices are advanced electronic ear devices designed for multiple purposes ranging from the wireless transmission to communication objectives, fitness tracking and medical monitoring. Wireless technology complements and enhances the hearing experience of the customer. The benefits of hearable devices include improved sound quality, activity tracking, more accurate vital signs, augmented hearing, layered listening and personal biometric identification. The devices provide voice inputs directly to a user's ear through tiny speakers, which can be worn either in the ear or over it. The hearable devices employ Bluetooth, Wi-Fi or others and are generally classified into three types: headphones, headsets and hearing aids. Hearable devices are also used in healthcare and consumer applications.
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Market Dynamics
echnological advancements in voice user interface and increasing demand for smartphones as a source of entertainment using headsets will likely drive the hearable devices market over the predicted years. The increasing adoption of portable and wearable devices gives the demand for health monitoring applications and hearing aids are expected to leverage the market in the forecast period.
The evolution of wired to wireless headphones has affected the market growth significantly. The hearable electronic market has witnessed improvements in terms of technology over the past few years. The sales of hearables devices are growing at a high rate and headphones are a major contributor to the market. Headphones are the major accessories for mobile devices, laptops, digital music systems, smart TVs and vehicle infotainment devices. Smart headphones provide many benefits, such as convenience, high-definition sound quality, multiple user facilities, mobility and portability and freedom from wire maintenance. The increase in infotainment devices is a major factor that boosts the hearables electronic device market growth.
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Segment Analysis
The hearable electronic devices technology is further segmented into Bluetooth, Wi-Fi, NFC and others. The increase in demand for wireless headphones is mainly contributing to the hearables market growth due to a shift in consumers' preference from wired headphones to wireless headphones. Modern wireless earphones, earbuds and headphones are enabled with Bluetooth, enabling users to link their phones to other devices and headsets. The respective wireless earbuds have smart capabilities such as tracking via fitness applications, communication and health monitoring. Thus Bluetooth segment is estimated to dominate the hearable electronic device market through the forecast period.
Competitive Landscape
The global hearable electronic devices market is competitive due to the wide range of different end-use applications available. The major players contributing to growth in the market are Starkey Laboratories, Inc., Apple Inc., Bose Corporation, Samsung Electronics Co. Ltd, Sony Corporation, Sennheiser Electronic GMBH & CO. KG, Skullcandy, Inc and Xiaomi Corporation. Ltd., LG Electronics and Sivantos. The major players in the market adopt several growth strategies such as formulating and patenting, researching new sources, collaborations and joint ventures to contribute to growth in the industry.
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