Global Bluetooth Hearing Aids Market is valued approximately USD 1.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8.00 % over the forecast period 2020-2027. Bluetooth hearing aids provide the communication link between the wireless technology in the hearing aids and Bluetooth enabled devices such as smartphones, Smart TVs and more. Despite the continued availability of their traditional predecessors, Bluetooth hearing devices are gaining traction because of their advanced features. These involve multiple device connectivity, water resistance, smaller size and enhanced sound clarity. Thus, the increasing advancements in the Bluetooth hearing aids technology drives the market growth. Further, the advent of smart ready and Bluetooth 5.0 improves the performance of devices owing to lower energy consumption and hinderance free audio escalating the market growth.
As in September 2020, Bluettoh SIG, the standard group that monitor development of Bluetooth standards announced an new codec “LC3 codec” to make wireless audio much better. Further, increasing incidences of hearing loss across the globe fuel the demand for Hearing aids driving the market growth. As per National Institute on Deafness and Other Communication Disorders (NIDCD) one in eight people in the United States aged 12 years and above has hearing loss as per standard hearing examinations. The incidence of hearing impairment in the U.S. is clearly indicative of prospects for hearing aids sales in the country. However, high bustling and augmentation sound of devices impedes the growth of the market over the forecast period of 2020-2027. Although, integration of Artificial intelligence empowers the hearing aid technology presents a lucrative opportunity for the market. As in February 2020, Starkey Laboratories Inc. launched a product named Livio Al which is a behind-the-ear hearing aid integrated with artificial intelligence for better sound quality.
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The regional analysis of global Bluetooth Hearing Aids market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the early adoption of technology and well established infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapidly increasing hearing loss incidences would create lucrative growth prospects for the Bluetooth Hearing Aids market across Asia-Pacific region.
Major market player included in this report are:
Sonova Holding AG
Eartone Hearing Aid
Siemens Healthcare
Beltone
Miracle Hearing Aid
Cochlear
Starkey Laboratories Inc.
GN ReSound
Union Hearing Aid.
Shenzhen Sunsky Technology
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key player
