Report Summary

Hearables Market Size and Growth

The Global Hearables Market size was valued at about USD 35 billion in 2022 and is projected to surpass USD 80 billion by 2030, demonstrating a robust CAGR of 12% during the forecast period till 2030.

Hearables represent a rapidly expanding category of electronic devices designed to be worn in, on, or around the ear. This comprehensive category includes a variety of products, such as headphones, earphones, hearing aids, cochlear implants, and an expanding range of innovative devices. Hearables cater to a broad spectrum of applications, including infotainment features, hearing assistance and enhancement, as well as facilitating health monitoring capabilities, among others. These applications are predominantly found within the consumer electronics and healthcare sectors, with a noticeable increase in adoption within industrial settings.

The growth of the hearables market is boosted by pivotal factors, including the escalating demand for wireless headphones and earphones, the rising popularity of voice and AI-enabled devices, a growing inclination towards miniaturized electronic devices, an increasing need for physiological monitoring features, and the introduction of a new class of over-the-counter purchasable devices.

What are the Hearables Market Segmentations and Bifurcations?

Hearables Market Segmentation by Product Type

• Headphones
• Headsets
• Earbuds
• Hearing Aids
• OTC Hearing Aids (DIY Hearing Aids)
• Cochlear Implants
• PSAPs (Personal Sound Amplification Products)
• ALDs (Assistive Listening Devices)
• Other Hearables

In 2022, the headsets and earbuds segments dominated the hearables market, commanding a significant market share. The earbuds segment, particularly True Wireless Stereo (TWS) earbuds, witnessed shipments of around 300 million units, aligning with the growing demand for wireless, portable personal audio devices.

Headphones are audio devices worn over the head, covering the ears, commonly used for personal music listening, gaming, or audio playback. Headsets, a variation, typically incorporate a built-in microphone, enabling two-way communication and finding extensive use in gaming, telecommunication, call centers, and virtual meetings.

Earbuds are compact, lightweight audio devices that snugly fit inside the ear. Renowned for their portability and convenience, they are frequently paired with smartphones, tablets, or portable media players. The adoption rate of True Wireless Stereo (TWS) earbuds is on a rapid ascent.

Hearing aids are specialized medical devices designed to improve auditory function for individuals with hearing impairments, available in various styles, including behind-the-ear (BTE), in-the-ear (ITE), and completely-in-the-canal (CIC) models.

OTC (over-the-counter) hearing aids, also known as do-it-yourself (DIY) hearing aids, are user-friendly devices tailored to address mild to moderate hearing loss without necessitating professional medical consultation or fitting.

• In 2022, the Food and Drug Administration (FDA) implemented the Over-the-Counter Hearing Aid Act, enabling consumers to purchase hearing aids without requiring a prescription from an audiologist or physician.

Cochlear implants are surgically implanted medical devices within the inner ear, aimed at restoring auditory perception for individuals with severe or profound hearing loss. They directly stimulate the auditory nerve, bypassing damaged ear components.

PSAPs (Personal Sound Amplification Products) are wearable devices that amplify sound for individuals with normal hearing, aiding specific listening situations. They are not intended for those with diagnosed moderate or severe hearing loss.

Assistive listening devices (ALDs) provide support for individuals with hearing loss in managing challenging listening environments. ALDs are applicable in various settings, including workplaces, homes, and entertainment venues, enhancing signal-to-noise ratios, mitigating distance effects, and minimizing the impact of poor acoustics.

Hearables Market Segmentation by Design Type

• In-Ear
• On-Ear
• Over Ear

The on-ear segment held the leading market share in the global hearables market in 2022.  On-ear hearables are favored for their reduced risk to the eardrums, thus minimizing the potential for hearing issues. This advantage arises from their ability to exert a comparatively milder impact on an individual's auditory capabilities when compared to in-ear and over-ear alternatives.

The dominance of the on-ear segment can be attributed to its thoughtful design, offering a balance between an immersive audio experience and reduced potential for hearing issues. On-ear hearables rest gently on the outer ear, effectively mitigating the risks associated with prolonged usage. This makes them the preferred choice among health-conscious consumers.

Hearables Market Segmentation by Connectivity Technology

• Wired
• Wireless
  • Bluetooth
  • Others

The wireless technology segment is set to achieve the fastest CAGR of more than 15% during the forecast period till 2030. This is driven by the growing demand for hands-free calling, portable devices, and the widespread adoption of technologies such as Bluetooth 5.3, Wi-Fi, and DECT in hearables, along with increasing global internet access.

Hearables Market Segmentation by End-User

• Consumers
• Healthcare / Medical
• Industrial
  • Construction
  • Manufacturing
  • Mining
  • Others

The consumer segment dominated the hearables market in 2022, driven by the widespread adoption of hearable devices among everyday users seeking enhanced audio experiences, improved communication, and seamless integration into their lifestyles.

Consumers prefer hearables that offer a seamless and convenient listening experience, along with popular features such as noise cancellation, virtual sound, voice control, gesture and touch-based control, and extended battery life. Additionally, they demand stylish and comfortable designs, prompting companies to invest in innovative product development.

The consumer segment is poised for continued growth in the upcoming years, fueled by evolving consumer preferences and ongoing technological advancements. With hearable devices becoming increasingly sophisticated, incorporating features such as health monitoring, fitness tracking, location mapping, and seamless connectivity, a substantial expansion is expected in the consumer segment market share.

Hearables Market Trends and Outlook

OTC Hearing Aids - A Potential Boost for the Hearables Market

In the U.S., recent FDA regulations are ushering in a new category of over-the-counter (OTC) devices, available for direct purchase rather than requiring certification through medical channels. This regulatory change is expected to lead to the introduction of new, medical-grade OTC products in the hearables market. As per the World Health Organization, one in five individuals currently experiences some degree of hearing loss, a number projected to rise to one in four by 2050. Despite this, the hearing aid market remains undersaturated, with only 8% of those with hearing impairments owning a hearing aid. Given the growing popularity of hearables, there is a burgeoning section of the population poised to embrace hearing assistive devices in the long term.

Innovative Products and Features Driving Hearables Market Growth

Hearables are increasingly integrating with AI and virtual assistants, such as Siri and Google Assistant, enabling hands-free control and enhanced functionality. Many hearables now boast health and wellness features, including heart rate monitoring, sleep tracking, noise cancellation, as well as numerous biosensors and motion sensors. These features appeal to consumers seeking a holistic wellness experience. Enterprises are also adopting hearables for industrial and workplace use, enhancing employee communication and collaboration. Furthermore, hearables can monitor brain waves to optimize sound quality, enhance ambient sounds, improve voice clarity, and provide voice-based personal assistance. The hearables market is projected to continue its growth, introducing new products and features to meet the evolving demands of consumers and industries.

Integration of Biosensors and Motion Sensors Enhances Hearables Market Opportunities

The hearables market is witnessing a surge in demand for biometric monitoring features. Advanced sensors in hearables can track vital biometric data, including heart rate, body temperature, oxygen levels, blood pressure, and eye tracking, among others. This data proves invaluable for monitoring individuals' health and fitness, leading to a growing consumer interest in hearables.

Motion sensors play a crucial role in tracking step counts and other activity metrics directly from the ear. Key industry players such as TDK, STMicroelectronics, and Bosch offer specialized product suites designed for hearables. Notably, motion sensors are being explored for applications such as fall detection, aligning with the demographics typically addressed by hearing aids.

On the contrary, high costs associated with hearables and mounting concerns about hearing defects caused by excessive use are impeding the market development potential, especially within the consumer sector.

What are the Regional and Country Trends in Hearables Market?

Hearables Market Regional Landscape and Trends

• North America
• Asia Pacific
• Europe
• Middle East & Africa
• South America

In 2022, Asia Pacific and North America regions held the leading shares of the global hearables market. Factors such as increased awareness of personal audio devices and the rapid development of technology, including the popularity of true wireless earbuds and noise-canceling headphones, are driving the growth of the hearables market in Asia Pacific region.

During the forecast period, Asia Pacific region is poised for significant growth, driven by a thriving consumer electronics sector, rising disposable income, increased smartphone penetration, and widespread digitalization. Moreover, the presence of key industry players, a growing geriatric population - the largest consumers of hearing aids, and rapid urbanization are all contributing to the overall expansion of Asia Pacific hearables market.

North America region is poised to witness significant growth from 2023 to 2030. The region benefits from ongoing technological advancements in the field of hearables. Additionally, there's a rising demand for hands-free calling technologies and an increasing preference for wireless devices. Moreover, North America boasts a substantial tech-savvy population, further fueling the adoption of these advanced devices. Furthermore, the market is witnessing an influx of new entrants in the region, contributing to its expansion. Crucially, the increasing prevalence of hearing loss within the local population is driving the demand for advanced technology features in hearables, making North America a promising market for growth and investment in the coming years.

How is the Competition Scenario in Hearables Market?

Hearables Market - Competitive Landscape

In this highly competitive industry driven by the surging demand for advanced hearables, companies are actively engaged in strategic initiatives to expand their global presence. Key players recognize the need to promote their product portfolios on a global scale to bolster their profits and maintain a competitive edge. To achieve this, they have implemented various strategies including product portfolio expansion, acquisitions, agreements, partnerships, and collaborations.

Some of the major players operating in global hearables market include Advanced Bionics, Apple, Audio-Technica, Bosch, Bose, Bragi, Cochlear, Eargo, Earin, Edifier, GN Group (Jabra), LG Electronics, Logitech, Med-EL, Miracle-Ear, Nuheara, Olive Union, Oticon (William Demant), Philips, Phonak (Sonova), Ptron, ReSound, Samsung, Sennheiser, Sivantos (WS Audiology), Skullcandy, Sony, Starkey, Valancell, Voxx, Widex, and Xiaomi among others.

Report Scope

Hearables Industry Developments

• In February 2023, Starkey introduced its latest innovation in hearing technology, known as Genesis AI Hearing Aids. This represents a complete redesign and advancement in their hearing aid offerings.
• In August 2022, Oticon unveiled its newest line of custom hearing aids named Oticon Own. These in-the-ear hearing aids are fully customized to provide a discreet and personalized listening experience. Oticon Own leverages the company's BrainHearing technology, aiming to support the natural functioning of the brain by enhancing sound access and quality.