A hearable device is a kind of microcomputer that is positioned in the ear and is fitted in the ear canal of the user. This kind of device makes the use of wireless technology to enhance and complement the hearing experience of the wearer. There are many exciting and limitless possibilities of the hearable devices that are experiencing an excellent reception in the market. An area of application which has enormous applications in the field of hearable devices is the area of augmented hearing. With the aid of this technology, there would be an improvement of the hearing faculty to above normal levels.
However, this technology is still in its evolution stage. There is another exciting area of application of hearable devices is in the form of layered listening technology, which allows the users to filter out or enhance specific sounds. Besides such ground breaking technologies, the hearable devices also offer features such as monitoring of the vital body signs such as the heart rate, body temperature, ECG, blood pressure and pulse monitoring. Besides, hearables can also be used as personal identification devices in which sound waves are used as a means of identification of an individual. Also, hearable devices are also used to enhance the quality of the sound which the wearer receives and function as hearing aids.
The global industrial hearables market is slated to reach a valuation of nearly US$ 992 Mn in the year 2026 and exhibit a robust CAGR during the period of forecast.
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4 Forecast Highlights on Global Industrial Hearables Market
- As per the forecast of Future Market Insights, the personal sound amplifiers (PSAPs) product type segment is slated to touch a value of nearly US$ 300 Mn in the year 2026. This represents a robust CAGR growth during the assessment period of 2017-2026. The personal sound amplifiers (PSAPs) product type segment was estimated to account for more than one fourth of the revenue share of the product type category by the year 2017 and is expected to gain in market share by the year 2026 end.
- As per the assessment of Future Market Insights, the wireless segment will reach a valuation of nearly US$ 386 Mn in the year 2026. This represents a robust CAGR growth during the period of assessment. The wireless segment was estimated to account for more than one-third of the revenue share of the technology category in the year 2017 and is expected to gain market share by the end of the year 2026.
- As per the estimates of Future Market Insights, the hypermarket/supermarket segment is slated to reach a valuation of nearly US$ 51 Mn in 2026. The hypermarket/supermarket segment is expected to lose market share by the end of the year 2026. The largest share is contributed by the North America region in the hypermarket/supermarket segment.
- FMI forecasts the US industrial hearables market to grow from US$ 180.6 Mn in 2017 to US$ 345.7 Mn in 2026. This represents a compound annual growth rate (CAGR) of 7.5% from 2017 to 2026.
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The report has also profiled leading players in the global industrial hearables market, which will remain active through 2026. These include companies such as Medtechnica Orthophone, Sivantos Pte. Ltd., Widex A/S, Miracle Hearing Aid Clinic, GN Store Nord A/S, Sonova Holding AG, Siemens Healthcare, GN ReSound, Cochlear, Persona, , Starkey Hearing Aids, William Demant Holding A/S, MED-EL, Shenzhen Sunsky Technology Union Hearing Aid Centre, Beltone and Eartone.