Hearable devices: India

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The market

As at the end of 2018

Sindhu Hariharan, Hearables heat up wearable tech mkt, April 12, 2019: The Times of India

The global market for Hearable devices, as at the end of 2018.
From: Sindhu Hariharan, Hearables heat up wearable tech mkt, April 12, 2019: The Times of India

Hearable devices, and more specifically “truly wireless hearables”, have emerged as the next hottest category in wearable tech. Analysts and research firms estimate ear-worn wearable devices to be the new battle ground for tech companies as major internet companies and device makers look to innovate in the space. Worldwide, 12.5 million units of true wireless hearables were shipped in the fourth quarter of 2018, according to findings of Counterpoint Research’s Hearables Market Tracker.

Consulting firm IDC said that ear-worn wearable tech is expected to grow at a CAGR of 54% from 2018 to 2022 — the fastest growth rate among all other wearables. “The market for ear-worn wearables has grown substantially,” IDC Mobile Device Trackers senior research analyst Jitesh Ubrani wrote in a note.

Similarly, Gartner predicts in a recent global wearables report that, by 2022, ear-worn devices such as Apple AirPods and Samsung’s IconX will account for more than 30% of all shipped wearables. Globally, Apple has emerged the clear leader with over 60% market share for its AirPods. Jabra Elite Active 65t, Samsung Gear IconX, and Bose SoundSport Free are the other models in the top 10 best-selling list.

“India’s true wireless hearables shipments was estimated at around 0.1 million in 2018, where Apple and Samsung cover almost 50% of the market and rest is captured by Bose, Jabra, Sony, Anker, Crossbeats and others,” Counterpoint Research research analyst Satyajit Sinha told TOI.

However, Sinha anticipates India to be one of the biggest growth markets in the future on the back of rising discretionary incomes, evolving digital habits and emergence of voice tech as a new user interface.

Jabra country marketing manager (India & SAARC) Amitesh Punhani believes wired hearables will make way for true wireless models as a natural progression of tech.