Hearables Market Trends and Analysis by Region, Price Range (USD 100) and Segment Forecast to 2026
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- Make informed decisions about investments, partnerships, and product development
- Identify your competitors positioning to stay ahead in the market
- Identify segments and get an understanding of various stakeholders across different stages of the entire value chain
- Identify major verticals and their use cases
- Anticipate expected changes in demand and adjust your business development strategies
- Identify potential areas of disruption
- Identify potential regions and countries for growth opportunities
How is our ‘Hearables Market’ report different from other reports in the market?
- This market intelligence report offers a thorough, forward-looking analysis of the global hearables market by price range, and key opportunities in a concise format to help executives build proactive and profitable growth strategies.
- Accompanying GlobalData’s forecast products, the report examines the assumptions and drivers behind ongoing and upcoming trends in hearables markets.
- Porter’s five forces analysis: demonstrates the strength of suppliers and buyers along with market competition in the market.
- The report includes market size and forecasts for key price range segments USD <50, USD 50-100, and USD >100.
- The report includes over 60 charts and tables and is designed for an executive-level audience, with enhanced presentation quality.
- The report provides an easily digestible market assessment for decision-makers built around in-depth information gathered from local market players, which enables executives to quickly get up to speed with the current and emerging trends in hearables markets.
- The broad perspective of the report coupled with comprehensive, actionable detail will help stakeholders, service providers, and other hearables players succeed in growing the hearables market globally.
We recommend this valuable source of information to anyone involved in:
- Hearable Manufacturers
- Smartphone Manufacturers
- Headphone Manufacturers
- Conversational Platform Providers
- Technology Startups and Leaders
- IT Hardware and Software Companies
- Consulting Firms
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Hearables Market Report Overview
The hearables market size will be valued at US$ 91.6 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 18.8% over the forecast period. Technological advancements enabling miniaturization of smart earbuds has plummeted the adoption of hearables and is anticipated to drive the hearables market growth over the forecast period.
Hearables Market Outlook, 2019-26 ($ Billion)
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Hearables are ear-worn connected devices that allow users to listen to audio content, make and receive phone calls, monitor their health and activity, and access real-time information services such as traffic updates. The first hearables appeared in 2014, but the 2016 launch of Apple’s AirPods brought the devices to mainstream attention. The launch coincided with Apple’s decision to remove the iPhone’s headphone jack, forcing users to either buy an adapter for wired headphones or invest in wireless earbuds.
Hearables have proved extremely popular with consumers, and they continue to evolve. The next generation will be designed for greater comfort and offer longer battery life. They will also feature services like immersive spatial audio, health monitoring, and AI-based communication.
According to GlobalData estimates, the global hearables market will grow from US$ 69.0 billion in 2022 to US$ 137.4 billion in 2026 at a CAGR of 18.8%. Hearables comprise of two layers: software, which serves as the platform to run applications, and hardware, which supports microprocessors, Bluetooth, microphones, sensors, and batteries, among other things. Several hardware components, along with the operating software, are embedded onto the microprocessors due to the limited onboard storage space.
Hearables Market - COVID-19 Impact
COVID-19 has dented the momentum of the hearables market. Changes in consumer behavior, including working from home, increased consumption of digital media, and the popularity of virtual fitness coaching, is driving the adoption of hearables during the pandemic.
However, the lockdowns in China in early 2020 disrupted production and delayed the launch of several devices. Google’s second-generation Pixel Buds were released in the US in April 2020 but did not arrive in Europe and Asia until July 2020. Apple tried to mitigate the impact by shifting a third of its AirPods production from China to Vietnam in March 2020 but postponed the release of the AirPods 3 until early 2021.
Hearables Market Segmentation by Price Range
Hearables have been bifurcated into three price range segments namely USD <50, USD 50-100, and USD >100. As of 2022, the less than USD 50 captured the highest share primarily due to the affordability of these devices in developing countries. Although the products falling in this price segment do not provide sophisticated features such as active noise cancellation and health tracking, they serve the basic purposes of music and call adequately.
Furthermore, the pandemic has impacted the spending capacity of consumers on high-priced products subsequently driving the growth of low- and medium-priced segments. With continuous advancements in technologies and their rapid implementation in products, these segments are anticipated to drive market growth over the forecast period.
Hearables Market Share by Price Range, 2023 (%)
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Hearables Market Analysis by Region
Asia Pacific’s hearables market value was the highest in 2023, capturing over 25% of the overall market size. The regional demand was led by rapid adoption of hearables in countries such as China, India, and Japan among others.
Asia Pacific Hearables Market Share By Country, 2023 (%)
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The Asia Pacific market is characterized as dynamic, with the presence of consumers who can afford expensive products and those who cannot. However, the penetration of smartphones is uniform amongst both consumer groups, as a result, the demand for accessories such as hearables also is considerably high. Japanese and Korean products are preferred by consumers seeking quality whereas Chinese products are preferred by consumers who purchase basis price-point.
With an increasing population and improving standard of living in Asia Pacific countries, the region is anticipated to dominate the market and showcase a growth rate of more than 17% over the forecast period.
Hearables Market - Competitive Landscape
The hearables industry is moderately fragmented. However, with the growth of start-ups and new venture launches the competition is gradually intensifying. Key players in the hearables market include Apple Inc, Bose Corp, GN Nord Store AS, and Samsung Electronics Co., Ltd among others. Mergers and acquisitions form a major part of the hearables competitive environment since many of the vendors collaborate to provide hi-tech and affordable hearables to consumers in competitive environment.
Leading Players in the Hearables Market
- Microsoft Corp
- Alphabet Inc
- com Inc
- Apple Inc
- Bose Corp
- GN Store Nord AS
- Samsung Electronics Co Ltd.
- Sony Group Corp
- Xiaomi Inc
- Nuheara Ltd
Other Hearables Market Vendors Mentioned
Dongguan Hele Electronics Co., Ltd, Bragi, Soul Electronics, Waverly Labs Inc, FreeWavz, Bang & Loufsen, Human Inc, and Orosound.
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Hearables Market Research Overview
Market Size 2023 | US$ 91.6 billion |
Market Size 2026 | US$ 137.5 billion |
CAGR | 18.8% from 2022 to 2026 |
Forecast Period | 2022-2026 |
Historic Period | 2019-2021 |
Report Scope & Coverage | Revenue forecast, competitive index, company market share, growth trends. |
Price Range Segment | USD <50, USD 50-100, USD >100. |
Key Companies | Apple Inc, Bose Corp, GN Nord Store AS, and Samsung Electronics Co., Ltd, Microsoft Corp, Alphabet Inc, Amazon.com Inc, Sony Group Corp, Xiaomi Inc, and Nuheara Ltd. |
Hearables Market Scope
GlobalData Plc has segmented the hearables market report by price range, region:
Hearables Price Range Outlook (Revenue, USD Million, 2019-2026)
- USD <50
- USD 50-100
- USD >100
Hearables Regional Outlook (Revenue, USD Million, 2019-2026)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Rest of Asia Pacific
- South & Central America
- Brazil
- Argentina
- Chile
- Rest of South & Central America
- Middle East & Africa
- United Arab Emirates (UAE)
- Kingdom of Saudi Arabia (KSA)
- South Africa
- Rest of Middle East & Africa
Key Players
Microsoft CorpAlphabet Inc
Amazon.com Inc
Apple Inc
Bose Corp
GN Store Nord AS
Samsung Electronics Co Ltd.
Sony Group Corp
Xiaomi Inc
Nuheara Ltd
Table of Contents
Table
Figures
Frequently asked questions
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What will be the hearables market size in 2023?
The hearables market size globally will be valued at US$ 91.6 billion in 2023.
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What will be the hearables market size in 2026?
The hearables market size is expected to reach US$ 137.4 billion by 2026.
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What is the hearables market growth rate?
The hearables market is expected to grow at a CAGR of 18.8% during the forecast period (2022-2026).
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What are the key hearables market drivers?
Technological advancements enabling miniaturization of smart earbuds has plummeted the adoption of hearables and is anticipated to drive the hearables market growth over the forecast period 2022-2026.
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What are the key hearables market segments?
Price Range Segment: USD <50, USD 50-100, USD >100.
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Which are the leading hearables companies globally?
Some of the leading hearables companies are Apple Inc, Bose Corp, GN Nord Store AS, and Samsung Electronics Co., Ltd, Microsoft Corp, Alphabet Inc, Amazon.com Inc, Sony Group Corp, Xiaomi Inc, and Nuheara Ltd.
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Is there a third level of segmentation in the report?
GlobalData’s focus is on providing reliable and accurate data that is supported by robust research methodology. Our reports undergo rigorous quality checks and are based on primary and secondary research sources, ensuring that the numbers and insights provided are trustworthy. However, despite the best efforts to gather comprehensive data, there could be instances where the available data is limited, making it challenging to provide third level segmentation. In such cases, GlobalData may choose to provide high-level insights and general trends rather than forcing segmentation that may not be backed by sufficient data. This approach ensures that the report’s overall quality and credibility are maintained.
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