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Los Angeles, CA -- (SBWIRE) -- 10/29/2018 -- New report published by QY Research which offers insights on the global Hearables market. The Hearables market has been experiencing steady growth graph since past years. During the 2018-2023 timeline, the global market for Hearables is expected to reflect a 3.8x increase in the revenue growth. The Hearables market is expected to reach $56,757 million by 2023 from $14,904 million in 2018, growing at a CAGR of 30.66% from 2018 to 2023.
Global Hearables Market: Market Driver and Restraint
There are major three classifications of Hearables in this report, Headphone & Headsets and Hearing Aids. In the global market, the output volume share of each type of Hearables is 62.04% and 37.96% in 2017.
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The report then focuses on major industry players in Global, including company profiles, product images and specifications, sales, market share, and contact information. More importantly, the Hearables industry development trends and marketing channels were analyzed. Providing the main statistical data on the current status of the industry is a valuable guide and direction for companies and individuals interested in the market.
Global Hearables Market: Key Takeaways
· 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.
· In terms of revenue, hearing aids, although one of the smaller volume segments, will dominate in terms of overall revenue, largely due to their historic sales and distribution channel which will maintain their high product price. The challenge will come from earbuds, which, if they gain customer acceptance will attract new users, not least from the 1.1 billion potential people identified by the WHO report as being susceptible to hearing loss. If they succeed, they will eventually take over the hearing aid category. These will be at a lower price, but with massively higher volumes. Even without challenging the hearing aid industry, the wireless ear bud will evolve into an important market in its own right. As a result it will become one of the most successful areas within the wearables market.
Global Hearables Market: Forecast
The Hearables market is expected to reach $56756.80 million by 2023 from $14903.81 million in 2018, growing at a CAGR of 30.66% from 2018 to 2023.
Global Hearables Market: Forecast by Application
Among all the major applications of the hearable devices market, the market for healthcare application accounted the 13.06% of market share in 2017. 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.
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Global Hearables Market: Forecast by
This segment includes Fully Automatic, Semi-Automatic and Manual. In terms of volume, In the global market, the output volume share of each type of Hearables is 67.87%, 16.87% and 15.26% in 2016.
Global Hearables Market: Forecast by Region
Hearables industry is highly concentrated, manufacturers are mostly in the Asia, Europe and US. Among them, China output volume accounted for more than 69.89% of the total output of global Hearables in 2017. Apple is the world leading manufacturer in global Hearables market with the market share of 26.11%, in terms of revenue.
Global Hearables Market: Key Players
Apple, Samsung, Sennheiser, Sony, GN (Jabra), Sivantos, Starkey, Bragi, Doppler, Miracle-Ear, Valancell, Earin, Eargo, AKG, Audio-Technica Edifierare the key vendors included in this report.
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