The hearables market will reach $80 billion in 2025, according to a new research report by Nick Hunn. The popularity of earbuds is growing rapidly, and with 80 million users, it is now the fastest growing consumer electronics product sector ever, eclipsing even the iPhone.
Nick Hunn expects the growth to speed up even more with launch of a new Bluetooth LE Audio standard at CES 2020, which allows designers even more freedom, higher quality and new audio applications.
People love the streaming services because of its ease of use. The report predicts that by the end of 2025, 2.6 billion users around the world will regularly stream audio or video through their phones. While many will be using free or non-subscription services, for 57% of smartphone users, streaming will be a regular activity, the report said.
Since Apple launch its AirPods, hearables have become more popular, making it an important opportunity for phone manufacturers. Although Apple dominated sales of earbuds, other companies like Huawei and Samsung are now competing with Apple.
The new Bluetooth standard, which was originally conceived by hearing aid companies, has grown into one of the largest development efforts in its history. The technology uses Bluetooth Low Energy standard, but adds with that better audio quality through a new codec called LC3, as well as supporting a much wider range of audio topologies.
The Bluetooth 5.2 eliminates limitations found in earbuds on the market today. Using the new technology, companies can design high performance, interoperable audio products.
“Given that the World Health Organization is warning that over 1 billion young people are at risk of hearing loss, any increase in usage will be very welcome, especially as the WHO also estimates that the annual global cost to society of untreated hearing loss is $750 billion. These changes open up a new opportunity to help millions of people with hearing loss – a fact that is already causing some consumer audio manufacturers to look at entering the market,” Nick Hunn, CTO at WiFore, said in his report.
According to the report, the number shows that the hearables market will grow to around 630 million of devices shipped in 2025, giving a market value of $80 billion.