Hearables Market Size Worth $69 billion in 2022 with the Highest Contribution from Asia-Pacific – GlobalData Plc

The global hearables market size reached $69 billion in 2022, according to a new report by GlobalData Plc. Hearables are ear-worn connected devices designed for communication, health and activity monitoring, and real-time information services. These devices can be controlled by tap/touch or voice by connecting to smartphones, smart TVs, and other smart devices via Bluetooth or Wi-Fi, and generally feature digital assistants such as Alexa and Siri for real-time voice-based communication. Technological advancements enabling the miniaturization of smart earbuds will plummet the adoption of hearables over the forecast period.

Hearables Market Overview 2022-2026 ($ Billion)

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Hearables Market FAQs

• What was the hearables market size in 2022?
  The hearables market size was $69 billion in 2022.
• What will be the hearables market CAGR during 2022-2026?
  The hearables market will grow at a CAGR of 18.8% during 2022-2026.
• What are the key segments in hearables market?
  The hearables market is mainly segmented by price range and region.
• Which region accounted for the highest hearables market growth in 2022?
  The Asia-Pacific region accounted for the highest hearables market growth in 2022.
• Which are the key companies in the hearables market?
  The key companies in the hearables market are Microsoft Corp, Alphabet Inc, Apple Inc, Bose Corp, GN Store Nord AS, Samsung Electronics Co Ltd., Sony Group Corp, Xiaomi Inc, and Nuheara Ltd among others.

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Hearables Market Dynamics

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 are upgrading at a rapid pace due to advancements in supportive technologies such as customized silicon chips, AI-enabled conversational platforms, and improved batteries. Furthermore, the availability of some other prominent features such as active noise cancellation and enhanced cybersecurity are making hearables a viable choice for the modern consumers.

However, hearables have limited capacity to store the data they generate. Thus, vendors store users’ data, such as location, health metrics, app activity, and conversations, on cloud servers. This stored data is open to potential misuse by advertisers and vendors. The regulations mandate hearables vendors to have transparent privacy policies that stipulate the purpose and use of user-generated data. Furthermore, COVID-19 has also impacted the hearables market growth as the lockdowns in China in early 2020 delayed the production of new devices.

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Hearables Report Highlights

• The hearables market is projected to witness a CAGR of 18.8% from 2022 to 2026. Hearables have proved extremely popular with consumers, and they continue to evolve. The next generation hearables 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.
• As of 2022, the USD