- Increasing rules and government regulations are driving the growth of the market.
- The high cost of the hearable devices is a major threat which hampers the growth of the market.
- The European region accounts to have the second-largest market.
According to a new market research report published by Credence Research “Global Industrial Hearable Market (Type (In ear, Over ear); Technology (DECT, Bluetooth, Wi-Fi, Others); End-Use (Construction, Manufacturing, Mining, Others); Application (Industrial Wireless Audio/Voice Application, Industrial Voice Cancellation Application)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall industrial hearable market worldwide is expected to reach a value of $144.6 million in 2018 and is set to grow with a CAGR of 35.4 % during the forecast period.
The increasing rules and regulation by various governments for hearing aid and rising awareness among the users working in the industries are some of the major factors which are driving the industrial hearable market. Further, these devices offer various advantages to the users during high noise environment, for instance it reduces the health issues cause by loud noise, decreases the chances of becoming deaf and others. Moreover, the increasing use of wireless hearable devices in industry is also fuelling the growth of the market as the works can work freely and can communicate easily from one point of the plant to another, which leads to increase the productivity and efficiency of the process. However, the high cost of the hearable devices is a major threat which hampers the growth of the market.
Additionally, the hearable devices also provides various features which includes monitoring of the vital body signs such as the body temperature, ECG, heart rate, blood pressure and pulse monitoring. These devices can also be used as personal identification devices in which voice command is used for identification of an individual. Based on end-users, the manufacturing industry segment dominates the market with more than 1/3rd of the market share, due to presence of large number of manufacturing plants which creates large noises during the production. Moreover, the increasing safety rules for the manufacturing plant are another factor which increases the demand for the hearable devices.
The European region accounts to have the second-largest market and is expected to grow with a CAGR of 34.6% during the forecast period. Due to presence of various automotive industries, retail, manufactures, heavy machinery, consumer goods and others which are driving the market in the region. Moreover, UK, Germany, France, Spain, Italy, and others countries present in the region also contributing to the growth of the market in the region. The increasing stringent rules and regulation in the region related to the hearing problems is also propelling the growth of the market
Some of the prominent players operating in the industrial hearable market includes EERS Global Technologies Inc., Eartex Ltd., Firecom, Fujikon, QuietOn, NoiseBuster (Pro Tech Technologies, Inc.), Setcom Corporation, Sensear Pty. Ltd., Sonetics, Silentium, Siemens Healthcare, and Medtechnica Orthophone.