Seattle, WA -- (SBWIRE) -- 08/02/2017 -- Some key factors driving this market are the growing demand for smartphones as a source of entertainment; consumer preference for wearable and portable devices; increasing demand for health monitoring applications and hearing aids; and high investment in R&D for hearables by OEMs.

The global hearable devices market is expected to increase to USD 23.24 Billion by 2023, at a CAGR of 9.98% between 2017 and 2023. Download PDF Brochure: http://bit.ly/2uBMPf3

The huge market of hearing aids is accounted because of the increasing number of the hearing-impaired population across the globe. According to World Health Organization (Switzerland), more than 5 % of world's population suffers from hearing loss.

Companies in the market have a strong distribution network to ensure the customized hearing aid devices. They started offering new capabilities in hearables to the elderly and other patients. These hearable devices also help manage particular health conditions and disease states.

The market for digital hearing aids is expected to grow at the highest rate during the forecast period. Digitally programmable hearing aids possess all the features of analog aids, but they use digitized sound processing. They are usually self-adjusting and offer greater precision for speech recognition and noise reduction. Digital hearing aids allow the use of the latest wireless connecting technologies such as Bluetooth and others.

Among all the major applications of the hearable devices market, the market for healthcare application accounted the largest share in 2016.

The evolution of technology allows people to measure heart rates and other parameters such as body temperature, blood pressure, pulse oximetry, electrocardiogram (ECG), electroencephalogram signals, and others using various smart hearable devices available in the market. Companies in this market also started offering new capabilities in hearables to the elderly and other patients. These hearable devices also help manage particular health conditions and disease states.

Apple Inc. (US) is one of the leading companies in the hearable devices market, followed by Samsung Electronics Co., Ltd. (South Korea) providing the wireless stereo headset, which provides very sophisticated U-shaped design, delivering clear voice quality with the help of noise- and echo-reducing NR and EC technologies.

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