Industrial Hearables Market to Grow $2.04 Billion by 2026, at 37.6% CAGR: AMR
Surge in need for mobility services and increase in demand for wireless headphones along with emerging hearable computing accelerate the growth of the global industrial hearables market. The Asia-Pacific region dominated the market, contributing to more than two-fifths of the market in 2018. On the other hand, the over ear segment is estimated to register the fastest CAGR of 38.2% during the forecast period.
Portland, Feb. 26, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global industrial hearables market was pegged at $151.7 million in 2018 and is projected to reach $2.04 billion by 2026, registering a CAGR of 37.6% from 2019 to 2026. The report offers a detailed analysis of the key segments including top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
Increase in demand for wireless headphones and surge in need for mobility services are the two major drivers for the growth of the global industrial hearables market. Furthermore, emerging hearable computing fuels the market growth. However, high cost of advanced hearable devices impedes the market growth. On the other hand, growing focus toward adoption of hearing devices to prevent hearing loss and rapid technological advancements in hearables will provide major opportunities for the market growth in upcoming years.
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The global industrial hearables market is divided on the basis of mode of type, connectivity, application, end-user, and region. Based on connectivity, the market is segmented into DECT, Bluetooth, WiFi, and other. The Bluetooth segment held the largest share in 2018, contributing to more than one-third of the market. However, the others segment is expected to register the fastest CAGR of 42.1% during the forecast period.
On the basis of end-user, the market is bifurcated into construction, mining, manufacturing, and others. The manufacturing segment held the lion’s share in 2018, accounting for more than one-third of the market share. Furthermore, this segment is projected to manifest the fastest CAGR of 42.9% during the forecast period.
The global industrial hearables market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region dominated the market, contributing to more than two-fifths of the market in 2018. Furthermore, this region is estimated to register the fastest CAGR of 40.8% during the study period.
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The global industrial hearables market report includes an in-depth analysis of the major market players such as Silentium, Eartex Ltd., Sensear Pty Ltd., EERS Global Technologies Inc., Sensear Pty Ltd., Firecom, Fujikon, NoiseBuster (Pro Tech Technologies, Inc.), Sonetics Corporation, and QuietOn, Setcom Corporation. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
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