Hearables are the fastest growing category in consumer electronics. According to analysts, the global hearable devices market is expected to increase to over US$20 Billion by 2023. Technology and innovation is transforming standard earphones into high tech in-ear computers that can translate languages, improve hearing loss and act as voice-activated assistants.
The surge in the sales of Bluetooth-connected devices has surpassed wired headphone sales according to the former market leader Nick Hunn, CTO at WiFore Consulting. The biggest opportunity lies in using these sophisticated devices will personalize and improve hearing. A whopping 75% of the 3.4 Million Canadians who have a hearing loss do not use hearing aids. As well, Canadians need to be educated about excessive noise exposure and how to save their hearing. This is an enormous opportunity for CMS’ clients.