Various Key Players in Hearable Devices Market with Market Footprint

Global hearable devices market was valued at over US$ 14 Bn in 2017 and is expected to register a CAGR of over 9.3%. The global hearable devices market is segmented on the basis of type, application, and region/country.

Major factor driving growth of the hearable devices market is technological advancements in electronic devices leading to miniaturization of product and increasing demand for advanced headphones that assist in daily life.

Moreover, rising prevalence of hearing loss among children and adults in developed and developing countries, increasing demand for hear aid devices is expected to support growth of the global hearable devices market.

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High cost of headphones and product defects related to usage are major factors restraining growth of the global hearable devices market. in addition, stringent government regulation related to use of headphone due to side effects is expected to challenge growth of the global hearable devices market to certain extent.

US market is expected to dominate the global hearable devices market, and it accounts for largest market revenue share in 2017 as compared to that of markets in other regions.

Dominance by US market is expected to continue over the forecast period with comparatively moderate CAGR than that of other regions, owing increasing health concern among individual leading increasing demand for headphone and ear buds with various advanced features such as health monitoring, 3D sound recording, standalone Hi-Fi music player, etc.

The market in Europe is expected to account for significant revenue share in 2017, and this can be attributed to growing health concerns among individuals and increasing demand for wearable devices such as smart wireless earbuds that assist in health monitoring which is expected to boost growth of the market in Europe.

In 2017 for instance, Fujitsu announced launch of the world’s first hands-free hearable device that recognizes a person’s voice and location of the speaker, and also automatically changes to the appropriate language without need to physically touch or change settings in the device.

On the basis of region, the global hearable devices market is segmented into US, Europe, China, Japan, South Korea, and Taiwan. The hearable devices market in US is estimated to account for major revenue share of US$ 4.7 Bn in 2017, and is expected to register lucrative CAGR over the next ten years.

Key players operating in the global hearable devices market include GN Store Nord A/S, Sivantos Pte. Ltd., Apple Inc., Samsung Electronics Co. Ltd., etc.

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