Growing focus toward adoption of hearing devices to prevent hearing loss are expected to propel the growth of the global industrial hearables market
PUNE, MAHARASHTRA, INDIA, November 24, 2020 /EINPresswire.com/ — Rise in demand for wireless headphones, surge in need for mobility services, and emerging hearable computing have boosted the growth of the global industrial hearables market. However, high cost of advanced hearable devices and challenge in optimizing battery life of hearable devices hamper the market. On the contrary, growing focus toward adoption of hearing devices to prevent hearing loss and rapid technological advancements in hearables are expected to create lucrative opportunities in the near future.
According to the report, the global industrial hearables market was pegged at $151.7 million in 2018 and is pegged at $2.04 billion by 2026, registering a CAGR of 37.6% from 2019 to 2026.
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Over ear segment to create lucrative opportunities
The over ear segment is projected to manifest the fastest CAGR of 38.2% from 2019 to 2026. Moreover, the market dominated the market in 2018, contributing more than four-fifths of the market. The report analyses the segment of in ear hearables.
Bluetooth technology held lion's share
The Bluetooth technology garnered the largest share in 2018, accounting for more than one-third of the market as Bluetooth headsets are majorly used to connect with mobile phones and can connect to computers through USB module. However, the other technologies (such as NB-IoT, Cellular networks, and near-field communication (NFC)) segment is expected to portray the fastest CAGR of 42.1% during the forecast period, owing to technological advancements and upgrades in electrical systems & devices. Moreover, the DECT and WiFi segments are estimated to manifest a gradual growth through 2026.
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Industrial noise cancellation applications to manifest fastest CAGR
Industrial noise cancellation applications segment is anticipated to portray the fastest CAGR of 40.1% from 2019 to 2026, owing to growing focus toward adoption of hearing devices to prevent from hearing loss due to noise pollution in industrial areas. However, the industrial wireless audio/voice applications segment held the largest share in 2018, accounting for more than two-thirds of the market, owing to growth in automation and increase in demand for mobility services in industrial applications.
Asia-Pacific region dominated the market
The market across the Asia-Pacific region held the largest share in 2018, accounting for nearly two-fifths of the market. Moreover, the region is estimated to register the fastest CAGR of 40.8% during the forecast period, owing to rise in industrialization in countries such as India, China, Indonesia, and others and increase in urbanization across the region. In addition, the market is analyzed across North America, Europe, and LAMEA.
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Major market players
The report analyzes the major market players such as EERS Global Technologies Inc., Eartex Ltd., Fujikon, NoiseBuster (Pro Tech Technologies, Inc.), Firecom, Setcom Corporation, QuietOn, Sensear Pty Ltd., Sonetics Corporation, and Silentium.
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Source: EIN Presswire