Who could have guessed, back in 2014, that a Kickstarter campaign would lead to an $80 billion market segment in just over a decade? But that’s what is happening with hearables, where a new report predicts that it will reach that size in 2025.
The growth of earbuds, which are now the “must-have” hearable for around 80 million users, has turned into the fastest growing consumer electronics product sector ever, eclipsing even the iPhone. That growth is set to accelerate even more with the launch of a new Bluetooth LE Audio standard at CES 2020, which allows designers even more freedom, higher quality and new audio applications.
It all started when Bragi managed to raise almost $3.4m dollars for a new concept – a set of stereo earbuds which could stream music as well as measuring your vital signs. A raft of other startups managed to raise over $50 million in crowdfunding investment between them before Apple arrived with their AirPods, and the rest is history.