Hearables in Medical Devices – Thematic Intelligence

Hearables in Medical Devices Thematic Overview

Hearables is the largest segment of the wearable tech industry by revenue and is expected to grow at a CAGR of more than 15% over the forecast period. Hearables have proven to be extremely popular with consumers, and they continue to evolve. The first hearable appeared in 2014, but the 2016 launch of Apple’s AirPods brought the devices to mainstream attention. The next generation of hearables will be designed for greater comfort and offer longer battery life. They will also feature services like immersive spatial audio, health monitoring, and artificial intelligence (AI)-based communication.

The hearables in medical devices report is a thematic brief, which identifies those companies most likely to succeed in a world filled with disruptive threats. Inside, we predict how each theme will evolve and identify the leading and disrupting companies.

Key Trends in the Hearables in Medical Devices Market

The main trends shaping the hearables in the medical devices industry are technology trends, macroeconomic trends, and regulatory trends.

Technology trends: The inclusion of Active noise cancellation (ANC) systems and silicone chips in hearables, artificial intelligence (AI), cybersecurity, and adoption of hi-fidelity audio and mobile communication in hearable devices are some of the technology trends impacting the hearables sector.

Macroeconomic trends: Integrating a range of health and fitness monitoring tools, and increasing production of specialized hearing aids are some of the macroeconomic trends impacting the theme.

Regulatory trends: The key regulatory trends impacting the hearables in medical devices theme are the concerns for data privacy and the over-the-Counter (OTC) Hearing Aid Act. For instance, the OTC Hearing Aid Act offers a lucrative opportunity for hearable vendors to expand their reach among those with hearing disabilities.

Value Chain Analysis

Hearables are type of wearable technology, that is a part of the broader IoT value chain. The other components of the IoT value chain consists of automated home, connected car, ambient commerce, industrial Internet, and smart cities. Each of these IoT markets has a common value chain, which can, in turn, be split into four layers: the device layer, the connectivity layer, the data layer, and the app layer.

Hearables represent the largest segment of the wearable tech industry by revenue. Driven by the success of Apple AirPods, several companies (including Samsung Electronics, Google, Sony, GN Group, Bose, and Nuheara) are investing in in-ear computing devices. These companies are pushing use cases for hearables beyond listening to audio content (like music and podcasts) into areas such as hands-free directions, biometric measurements, guided fitness and wellness coaching, and online food ordering.

One of the main drivers for hearable sales will be accurate health monitoring. In this area, hearables could theoretically be more effective than smartwatches.

The Internet of Things Value Chain Analysis

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Hearables in Medical Devices - Industry Analysis

The hearables market was worth $26 billion in 2019 and will grow at a CAGR of more than 15% over the forecast period. Apple is one of the leading vendors in the hearables market. Xiaomi Corporation is a distant second place for hearables shipments followed by Samsung Electronics.

The hearables in medical devices industry thematic intelligence report also covers:

• Competitive Analysis
• Timeline

Global Hearables Market Revenue, 2021-2030 ($ Million)

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Leading Public Companies

• Alphabet (parent company of Google)
• Apple
• Boston Scientific
• HP

Leading Private Companies

• GN Hearing
• STAT Health Informatics
• Valencell

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Medical devices sector scorecard

At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our sector scorecard has three screens: a thematic screen, a valuation screen, and a risk screen.

• The thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.
• The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.

• The risk screen ranks companies within a particular sector based on overall investment risk.

Medical devices sector scorecard

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Scope

• This report is a thematic brief, which identifies those companies most likely to succeed in a world filled with disruptive threats. Inside, we predict how each theme will evolve and identify the leading and disrupting companies.
• The report covers the hearables theme.

Reasons to Buy

• GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying important themes early, enabling companies to make the right investments ahead of the competition and secure that all-important competitive advantage.
• Develop and design your corporate strategies through an in-house expert analysis of hearable devices by understanding the primary ways in which this theme is impacting the healthcare industry.
• Stay up to date on the industry’s major players and where they sit in the value chain.
• Identify emerging industry trends to gain a competitive advantage.