Hearables Market Is Projected to Reach an Estimate of $93.90 Billion by 2026, at a Compound Annual Growth Rate (CAGR) of 17.2%: Allied Market Research
The global hearables market is experiencing considerable growth, owing to the rise in demand for wireless earphones and interactive infotainment systems, the emergence of hearable computing, the rapid progress of technology in the voice user interface, and the increase in demand for tiny wearable electronic devices for health monitoring.
Wilmington, Delaware, Nov. 20, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Hearables Market by Products (Earbuds, Headsets, and Hearing Aids), by Type (On Ear, Over Ear, and In Ear), by Connectivity Technology (Wireless and Wired), and by End User (Healthcare, Consumer, and Industrial): Global Opportunity Analysis and Industry Forecast, 2019–2026.” According to the report, the global hearables industry is predicted to gain $93.90 billion by 2026, having endorsed a value of $21.20 billion in 2018, exhibiting a noteworthy CAGR of 17.2% from 2019 to 2026.
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- 152 – Tables
- 80 – Charts
- 280– Pages
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Prime Factors Influencing the Market Growth:
The global hearables market is experiencing considerable growth, owing to the rise in demand for wireless earphones and interactive infotainment systems, the emergence of hearable computing, the rapid progress of technology in the voice user interface, and the increase in demand for tiny wearable electronic devices for health monitoring. On the other hand, the adverse effects of excessive use of headphones on hearing ability and the high price of these devices hampered the market growth to some extent. Moreover, the increased utilization of hearing devices to reduce the risk of hearing loss in industrial applications is predicted to bring profitable opportunities for the major players in the market.
Report Coverage & Details:
|Forecast Period||2019 – 2026|
|Market Size in 2018||$21.20 billion|
|Market Size in 2026||$93.90 billion|
|No. of Pages in Report||280|
|Segments covered||Product Type Connectivity Technology End User and Region.|
|Drivers||Increase in demand for wireless headphones and infotainment devices
Emerging hearable computing and rapid technological advancements in voice user interface
Surge in demand for miniaturized wearable electronic devices for health monitoring
|Opportunities||Growing focus toward adoption of hearing devices to prevent hearing loss in industrial application|
|Restraints||Adverse effect on the hearing ability due to overuse of headphones|
The Headsets Segment to Maintain its Prominent Growth during the Projection Period
By product, the headsets segment accounted for a major market share in 2018, acquiring more than two-thirds of the global hearables Industry revenue, and is expected to maintain its prominent growth during the projection period. The growth is attributed to an increase in the use of infotainment systems, rapid technological advances, and a surge in demand for mobility services. However, the earbuds segment is anticipated to register the fastest CAGR of 29.5% from 2019 to 2026. This is due to the availability of these average-cost devices on both the online and physical retail shops.
The on-ear Segment to Rule the Roost by 2026
By type, the on-ear segment dominated the largest market share in 2018, holding nearly half of the global hearables market revenue, and is expected to rule the roost by 2026. The same segment is estimated to showcase the fastest CAGR of 19.9% from 2019 to 2026. The on-ear headphone segment has experienced a surge in growth due to its superior external noise cancellation capabilities over other types of headphones, and its portability compared to over-ear headphones.
North America to Dominate the Market in Terms of Revenue in 2026
By region, the market across North America held the largest market in terms of revenue in 2018, contributing to nearly one-third of the global hearables market, and is expected to maintain its dominance throughout the forecast timeframe. This is because the major players in the region provide advanced solutions. The LAMEA region, however, would portray the highest CAGR of 21.0% from 2019 to 2026. This is due to the growth of the Internet of Things (IoT) and the increasing demand for wearables.
Industry-Leading Players: –
- Sony Corporation
- Samsung Electronics Co. Ltd.
- Skullcandy, Inc.
- Jabra (Gn Store Nord A/S)
- Koninklijke Philips N.V.,
- Lg Electronics
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Key Benefits For Stakeholders:
- As per the hearables market outlook, this report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hearables market analysis from 2022 to 2032 to identify the prevailing Hearables Market opportunities.
- The hearables Market Forecast research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hearables Market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global Hearables Market trends, key players, market segments, application areas, and Hearables Market growth strategies.
Hearables Key Segments:
- Hearing Aids
- On Ear
- In Ear
- Over Ear
By Connectivity Technology
By End User
- North America (U.S., Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
- LAMEA (Brazil, Saudi Arebia, United Arab Emirates, South Africa, Rest of LAMEA)
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