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Hearable Devices Market by Product, Headphone And Hearing Aids, Technology, Application And Geography - Global Forecast to 2023

Hearable Devices Market: Global Forecast until 2023

  • July 2017
  • 154 pages
  • ID: 5099507
In this report:
The hearable devices market for headphone in APAC is expected to register a shipment of ##.## million units by 2023, at the highest CAGR of ##.##% during the forecast period.
The American hearable devices market in Mexico is expected to register a shipment of ##.## million units by 2023, growing at the highest CAGR of ##.##% during the forecast period.

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"Hearable Devices market is estimated to rise at a compound annual growth rate of ~10.0 percent between 2017 and 2023"

The hearable devices market has entered the increase phase and is anticipated to grow further in the next years. The sector is anticipated to be worth ~$23.2B in 2023, at a compound annual growth rate (CAGR) of ~10.0 percent between 2017 and 2023. The drivers for this sector are the increasing demand for smartphones as a source of entertainment; consumer preference for wearable and portable devices; growing demand for health monitoring applications and hearing aids; and high investment in Research and development for hearables by Original equipment manufacturers. The main restraint for this industry is delivering high-quality audio.

"Market for headset is forecasted to grow at the highest CAGR (Compound annual growth rate) during the outlook period"

The headset market is anticipated to grow at the highest compound annual growth rate (CAGR) during the estimate period. One of the main reasons why headset is preferred more than a headphone is because it comes with a microphone. The market opportunity and the upcoming trend of the voice user interface are primarily driven by the pair of earbuds with equipped microphone. Also, with the help of microphones that record the surrounding noise, headsets perform better in noise cancellation compared to headphones.

"Market for Bluetooth headset recorded for the biggest share of the hearable devices market in 2016"

The reason for Bluetooth to be the preferred choice is its ubiquitous and universal deployment, which makes it compatible with a larger set of devices. It is also preferred because it is the most economic technology for close range. Wi-Fi being preferred for a larger distance area. As hearables generally demand a use case where the source of audio is within 15 feet, this is the most cost-effective technology that can be deployed.

"Asia-Pacific is anticipated to be the quickest developing market for hearable devices during the outlook period"

Being the most populated area in the globe, the industry in Asia-Pac for consumer electronics including smartphones, tablets, and hearable devices is growing quickly with a high rate of development. Moreover, Elements such as urbanization, individuals' acceptance for innovative technologies, and the increasing popularity of streaming music services are responsible for the increase ot the hearable devices market in this area.

Breakdown of the profile of primary members taking part:

• By Organization: Tier 1-35 %, Tier 2-45.0 percent, and Tier 3-20.0 percent

• By Description: C-level Executives-35%, Directors-25%, and Others-40%

• By Area: North America-45%, Europe-17%, APAC-30%, and RoW-8%

The main players decribed in this business report contain:

• Apple Inc.

• Samsung Electronics Co., Limited

Segment Research

The study segments in the hearable devices market report are products, which include headphone, headset, hearing aid, and technology covering Bluetooth and Wi-Fi. The market research also includes applications and geographic forecast of the market size for various parts with regard to 4 main regions: Asia Pacific (APAC), Americas, Europe (EU), and RoW.

Why acquiring this study can help you

The study would benefit the market top players/new sector entrants in this sector in these ways:

1. This document breaks down the hearable devices market comprehensively and offers the closest approximations of the global market size and those of the subsegments across distinct applications and localities.

2. The analysis contributes the in-depth review of the hearable devices market with the help of business model study, competitive leadership mapping, and value chain study containing top firms in the sector and their relations in the ecosystem.

3. The market research benefits partners comprehend the pulse of the sector and offers them information on main market drivers, market restraints, opportunities, and alternatives.

4. This industry report would benefit partners to comprehend their players better and acquire additional insights to improve their rank in the business sector. The competitive outlook section includes competitor landscape, product developments, alliances, and mergers and acquisitions in the hearable devices market.

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