Hearable Devices Market: Pin-Point Analysis For Changing Competitive Dynamics

A range of devices across the consumer electronics industry are eliminating cables and including wireless functionalities as a part of the growing trend. A combination of developments in battery and wireless communication is fueling the development and adoption of wireless devices. Some of the recent examples of devices that have eliminated wires are Earphones and mobile chargers. The consumers have accepted innovations to these devices and have readily adopted the wireless form factor for these devices.

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Hearable devices are wireless devices which provide voice inputs directly to user’s ears via tiny speakers that can be worn by the user either in the ear or over it. Hearable devices are typically used for multimedia applications, but a significant number of hearable devices are also used in medical applications by patients with hearing impairment issues. Hearable devices have gained considerable momentum in recent times owing to the developments in wireless and battery technologies.

Hearable Devices Market: Drivers & Challenges – Hearable devices are in trend and are being developed and launched by numerous manufacturers to catch up to a growing trend. One of the major usages of hearable devices is paired with the multimedia usage in smartphones. The growth in smartphone technology is heading towards slimming down of devices which has forced smartphone manufacturers to eliminate the AUX port from devices propelling the growth of Hearable devices. However, the current hearable devices in the market are available at a higher price point than their traditional alternatives. A large part of the consumer markets, is highly price sensitive and is still to adopt hearable devices, should the prices fall to an affordable range.

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Hearable Devices Market: Segmentation – Segmentation of Hearable Devices Market, By Type : Wireless Earpods: Wireless Earpods are in-ear form factor tiny speakers that can connect to the host devices via a wireless communication method, usually Bluetooth. Wireless Headphones: Wireless Headphones are worn by the user over the ear and usually have better quality speakers with more functionalities embedded into them. Hearing Aid Devices: Hearing Aids are used as a medical accessory by patients with hearing impairment issues.

Hearable Devices Market: Regional Overview – North America is expected to lead the Hearable Devices market in terms of market share followed by Asia Pacific and Western Europe. The growth of Hearable Devices market in North America will be fuelled by the consumers’ favorable attitude towards high end mobile accessories.

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Hearable Devices Market: Competitive Landscape – Key Contracts/Agreement/Acquisitions – Bose has been working with Google to develop headphones that can be controlled via a built in voice assistant developed by Google. Key Players – The major players in Hearable Devices market include Bose Corporation, Sennheiser Electronic GmbH & Co. Kg, Harman International Industries, Incorporated, Audio-Technica Corporation, Sony Corporation, Apple, Inc., Samsung Electronics Co., Ltd., Fitbit, Inc. Skullcandy Inc. and Logitech.

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