New Devices Bolster an Already Strong Hearables Market
Hearable shipments are forecasted to top 11 million in 2022, increasing from just 0.6 million in 2017, growing at a compound annual growth rate (CAGR) of more than 75%.
An already strong hearables market is getting a boost from vendors rolling out new multi-functional products, according to a recent report from ABI Research. Evolving from just wireless music players with the ability to take calls, many hearables devices now provide the user with the ability to control the level of ambient noise, with others offering fitness tracking capabilities, information about scheduling, and even real-time language translation. ABI forecasts hearable shipments will top 11 million in 2022, increasing from just 0.6 million in 2017, growing at a compound annual growth rate (CAGR) of more than 75%.
“Hearables are beneficial for both consumer and enterprise users, as they can access hands-free calls, music, and even information, without wires attaching them to a separate device, such as a smartphone,” said Stephanie Lawrence, research analyst at ABI. “Old devices are being updated and new devices are being developed, which is helping to ensure that the hearables market continues to grow.”