Global Hearable Devices Market Revenue is Projected to be Over US$ 85 Billion by 2021
MarketResearch.biz announces publication of its most recently generated research report titled, “Global Hearable Devices Market by Product Type (Bluetooth and Wi-Fi), By Application (Consumer and Healthcare), and Region/Country – Global Forecast to 2026.“, which offers a holistic view of the hearable devices market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017-2021) is projected to be over US$ 85 Bn, which is expected to increase rather moderately over the latter part of the five-year forecast period.
Hearables or smart headphones are technically advanced electronic in-ear-devices designed for multiple purposes, ranging from wireless transmission to communication objectives, medical monitoring, and fitness tracking. 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.
Global Hearable Devices Market: Market Dynamics
Major factor driving growth of the global hearable devices market is increasing demand for technologically advanced hearable devices that are able to synchronize with smartphones and other connected devices. in addition, increasing prevalence of haring loss among children and adults demand for hearing aid devices is expected to fuel growth of the global hearable devices market. Moreover, demand for hearing aid devices with advanced features in order for effective communication is expected to support growth of the global hearable devices market. Furthermore, increasing geriatric population across the globe has prompted companies to develop and deliver advanced hearing aids and hearing-associated products and devices in order to offer more efficient and user-friendly experience.
However, high cost of advanced hearable devices is expected to restrain growth of the global hearable devices market to certain extent.
Technological advancements and increasing R&D activities by manufacturers and increasing government expenditure on healthcare sector is expected to create new opportunities to players operating in the global hearable devices market over the forecast period.
Global Hearable Devices Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global hearable devices market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global hearable devices market is expected to expand at a moderate CAGR of 9.3% during the forecast period.
Global Hearable Devices Market: Segmental Snapshot
The market report has been segmented on the basis of product type, application, and region/country. The product types segment includes Bluetooth and Wi-Fi. The application segment includes consumer and healthcare. The regions/countries covered in the analysis are US, Europe, China, Japan, South Korea, and Taiwan.
By Product Type: The Bluetooth segment accounted for highest revenue share contribution as compared to other type segment, and is expected to register a CAGR of over 9.0% between 2017 and 2026 owing to benefits of Bluetooth such as directly connecting to cell phone, television, computer, laptop or tablet is increasing among users.
By application: The healthcare segment is projected to account for highest revenue share as compared to that of other application segment, and register a CAGR of 9.0% over the forecast period owing to factor such as technological advancements that allows measuring of heart rate and other parameters such as body temperature, blood pressure, pulse oximetry, electrocardiogram (ECG), electroencephalogram signals,
By region/country: The market in US accounted for highest revenue share in the global hearable devices market in 2016, and is expected to register a CAGR of 9.0% between 2017 and 2026, owing to the presence of prominent hearable devices manufacturers in the country.
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