Hearables Market

Market Overview

The global hearables market size was valued at USD 42.09 billion in 2023. It is estimated to reach USD 143.80 billion by 2032, growing at a CAGR of 16.6% during the forecast period (2024–2032). The global hearables market is driven by the emergence of hearable computing, rapid technological advancements in voice user interface (VUI) technology, and the increase in demand for wireless headphones and infotainment devices.

Hearables technology refers to the advanced features and components integrated into wearable audio devices worn in or around the ears. These devices combine the functionalities of traditional headphones or earphones with smart technology, providing users with an enhanced audio experience and additional capabilities. One of the key technologies found in hearables is wireless connectivity. Hearables utilize wireless protocols such as Bluetooth to establish connections with smartphones, tablets, or other devices. This allows users to stream audio wirelessly, make phone calls, and even interact with voice assistants without the constraints of physical wires. The seamless connectivity provided by the hearables enhances convenience and freedom of movement.

Furthermore, hearables often integrate voice recognition technology and virtual assistants. With built-in microphones and sophisticated algorithms, these devices can understand and respond to voice commands. Users can interact with virtual assistants like Siri, Google Assistant, or Amazon Alexa to access information, make hands-free calls, or control other connected devices. This hands-free interaction further enhances the convenience and utility of hearables in everyday life. hearables technology encompasses a range of advanced features and components that enhance the audio experience and offer additional functionalities. With wireless connectivity, sensors, biometrics, and voice recognition, hearables have evolved beyond traditional audio devices, providing users with an immersive and personalized audio experience while offering a variety of health and smart features.

Market Dynamics

Global Hearables Market Drivers:

Increase in Demand for Wireless Headphones and Infotainment Devices

Headphones have changed and seen significant technological advancements throughout the years. The movement in consumer choice from wired to wireless headphones is expected to impact the industry substantially. Wireless communication via Bluetooth technology has been a breakthrough for headphones. This is attributed to wireless headphones being enabled with Bluetooth and Wi-Fi technology; Users can connect their phones to other gadgets and speakers. The sale of electronic gadgets like cell phones, computers, in-car entertainment systems, digital music systems, digital TV, and others is growing rapidly.

Headphones are one of the most important parts of these gadgets. Smart speakers are convenient, have high-definition sound clarity, can be used by multiple people, and have freedom from wire maintenance, portability, and mobility. Thus, the increase in the use of infotainment devices is one of the key elements driving the expansion of the hearables market.

Emerging Hearable Computing and Rapid Technological Advancements in Voice User Interface

The global hearables market is driven by several factors, and one of the key drivers is the emergence of hearable computing and rapid technological advancements in voice user interface (VUI) technology. Hearables are limited to audio playback and are intelligent computing devices that integrate voice-based interaction capabilities. Advancements in VUI technology, including natural language processing and voice recognition algorithms, have significantly improved the accuracy and reliability of voice commands and interactions. This allows users to control their hearable devices through voice commands, enabling hands-free operation and enhancing user convenience. With voice commands, users can control audio playback, access digital assistants, make phone calls, send messages, and even control smart home devices. The seamless integration of VUI technology with hearables provides a more intuitive and interactive user experience.

Global Hearables Market Restraints:

Adverse Effect on Hearing Ability Due to Overuse of Headphones

A rapid rise in the usage of mobile phones, iPods, and portable music players has fueled the adoption of smart headphones. However, prolonged use of audio devices at certain intensities of sound, for instance, more than 85 decibels (dB) for eight hours or 100dB for 15 minutes, can cause temporary or, in some cases, permanent sensory damage. As per the World Health Organization (WHO), nearly 22 million young people have removed their hearing ability due to unsafe sound levels by using wireless accessories. Thus, excess use of headphones has adverse effects on consumers' hearing ability, which limits their adoption, thereby restraining the market's growth.

Global Hearables Market Opportunities:

Growing Focus Toward Adoption of Hearing Devices to Prevent Hearing Loss in Industrial Application.

Hearing loss is the most common problem with a person's senses today. Hearing loss due to a noisy working environment is different from natural hearing loss—noisy working environments in the manufacturing and power transmission industry lead to fatal hearing loss conditions. Government agencies and significant businesses in the market for hearable devices are now working to produce hearable devices to prevent hearing loss among employees by offering appropriate protection in the form of headsets and other gear that cover their ears and enable noise cancellation. Thus, increasing focus on hearing aid applications in industries for their workers is expected to provide lucrative opportunities for market expansion globally.

Regional Analysis

Based on region, the global hearables market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global hearables market shareholder and is estimated to grow at a CAGR of 13.9% over the forecast period. North America is studied across the U.S., Canada, and Mexico. North America's hearables market is more mature than any other region due to the adoption of advanced technologies. The rise in demand for smart technologies and technological advancements have significantly contributed to the growth of the hearables market in North America. North America is a dominant market for hearable devices, owing to the presence of major players offering advanced solutions. The key elements that drive the growth of the North American market include an increase in the purchasing power of the citizens and a surge in demand for smart devices. Furthermore, the rise in demand for advanced technologies and the wide presence of major players have significantly contributed to the growth of the hearables market in North America.

Europe is anticipated to exhibit a CAGR of 17.2% over the forecast period. The hearable market is vast and mature in Europe as the region is technologically advanced due to growing awareness toward the consumption of hearables among several end users. Technological advancements and expansion in consumer electronics standards contribute to expanding the European hearables market. Moreover, rapid increases in sales of IoT products promote the market's growth during the anticipated period. Moreover, high disposable income and a rise in preference for consumer electronics drive the market expansion in this region.

Asia-Pacific includes countries such as China, South Korea, India, Japan, and the rest of Asia Pacific. Asia-Pacific had the smartest headphone market due to technological advancements and a rise in living standards in developing countries such as India, China, and Indonesia. This is attributed to technological advancements in manufacturing industries present in developing countries. An increase in the demand for consumer electronics and a rise in the trend of IoT fuel the growth of the Asia-Pacific hearables market. Japan and China are technologically advanced countries with a high demand for wireless sensor technology. Moreover, various technological advancements and upgradation in electrical systems and devices fuel the growth of the hearables market in Asia-Pacific.

LAMEA stands for Latin America, the Middle East, and Africa. Technological developments in South America and the Middle East are expected to supplement the market growth in LAMEA. Moreover, rapid developments in the Middle East in terms of infrastructure, technology, and medical facilities fuel the growth of the LAMEA market. However, a weak economic scenario in Africa hampers the growth of the hearables market in the region.

Segmental Analysis

The global hearables market is bifurcated into product, type, connectivity technology, distribution channel, application, and end-user.

Based on product, the global hearables market is bifurcated into Headsets, Earbuds, and Hearing Aids.

The headsets segment dominates the global market and is projected to exhibit a CAGR of 16.8% over the forecast period. A headset is a hardware device developed with headphones and a microphone that can be used for hands-free operation. Headsets can be worn on or over the ear and use a 150-ohm loudspeaker with narrow frequency for entertainment applications. Smart headsets perform various functions such as fitness and heart rate tracking, voice-based personal assistants, contextual location-based suggestions, environment-based noise suppression or audio enhancement, gesture and touch-based control, and the primary function of listening to audio signals.

Further, these devices can be available in single-earpiece (monaural headsets) and double-earpiece (mono to both ears and stereo headsets) designs. The Headsets market is expected to register significant growth shortly, owing to increased penetration of infotainment devices, rapid technological advancements, and a surge in the need for mobility services. However, adverse effect on hearing ability due to excessive usage of headphones is expected to limit the market growth. On the contrary, the increase in the need for convenience for customers is anticipated to provide numerous opportunities for the growth of the headphone market. 

Based on type, the global hearables market is bifurcated into On Ear, In Ear, and Over Ear.

The on-ear segment dominates the global market and is projected to exhibit a CAGR of 15.2% over the forecast period. On-ear headphones, also called supra-aural headphones, are one of the most popular headphones, as they are made using lightweight materials and serve as an ultra-portable alternative to the bulkier over-ear models. These headphones are smaller and lighter than over-ear headphones, making them suitable for home use. On-ear headphones are more effective in external noise cancellation than other headphones. These headphones are more portable as compared to over-ear headphones. Also, these headphones have infinite sound potential and can range from inexpensive basic models to sophisticated audiophile headphones that boost the full-range frequency response. Thus, all the factors together fuel the demand for on-ear headphones globally.

Based on connectivity technology, the global hearables market is bifurcated into wired and wireless.

The wireless segment dominates the global market and is projected to exhibit a CAGR of 22.5% over the forecast period. Wireless headphones are connected to devices, such as stereo speakers, gaming consoles, smartphones, and other devices, without cable or wire. These headphones work by transmitting audio signals through radio or infrared signals. The technologies used to connect wireless headphones include digitally enhanced cordless telecommunications (DECT), Bluetooth, Wi-Fi, and others. In addition, Bluetooth technology can connect one or more devices simultaneously and exchange data over short distances using radio transmission. The demand for wireless headphones is expected to increase rapidly over time due to their design and simplicity, making them marketable and in high demand, especially from college students.

Also, these headphones are continuously used and highly in demand from consumers and the electronics industry. In addition, the wireless headphones are compatible with any Bluetooth device and offer a wire-free experience. These factors fuel the demand for wireless headphones globally.

Based on application, the global hearables market is bifurcated into media and entertainment, noise isolation/cancellation, personal audio and communication, health and fitness (hearing aids), smart device interaction, and others.

In 2023, the personal audio and communication accounted for the largest market share in global hearables market due to their increased integration of voice assistants and improved sound quality. Consumers are able to easily listen to music, podcasts, and make calls with personal audio and communication hearables, which also come in a discrete and cozy form factor. These gadgets satisfy the need for wireless, small-sized audio entertainment and communication and have become essential components of daily life. 

Based on end users, the global hearables market is bifurcated into consumer, industrial, and healthcare.

The consumer segment dominates the global market and is projected to exhibit a CAGR of 17.8% over the forecast period. Hearable devices are smartphones that can play music and help consumers converse over Bluetooth. These devices have additional biometric movement and proximity sensors to help smart devices gather context about consumer behavior. In addition, hearables have voice-enabled virtual assistants built into devices, which can provide real-time insights to consumers. Also, hearables can measure the consumer's heart rate during exercise and, thus, are expected to help physicians monitor the consumers' cardiovascular health. The rise in demand for health monitoring applications and hearing aids and higher investment in RandD for hearables by OEMs is expected to drive the hearables market during the forecast period. These headphones continue to capture the consumer's demand during the forecast period. Also, the increasing interest of every consumer is anticipated to attract major hearables players.

Recent Developments

• March 2023- Jabra Announced a new version of its Elite 75t earbuds with improved sound quality and voice assistant integration.

• March 2023- Samsung Announced a new version of its Galaxy Buds Pro with improved battery life and water resistance.