PALM BEACH, Florida, November 29, 2017 /PRNewswire/ --
The increasing number of hearing impairment coupled with rising cost of hearing aids are expected to drive the hearing amplifiers market over the forecast period. A majority of the consumers turn to hearing amplifiers or personal sound amplification products (PSAPs) as they are considered cheap alternatives to hearing aids. The global hearing aid market is projected to approach $10 billion in revenue within the next five years, growing at a rate of 7% each year. The growth is due in large part to breakthroughs from advanced research and new technologies that leaders have infused into their products to enhance overall quality. Additionally, the number of individuals with hearing impairments is projected to steadily grow as well, therefore also driving revenues in hand with a rising demand. Notable leaders in the space at some level today include: InnerScope Hearing Technologies Inc. (OTC: INND), Knowles Corporation (NYSE: KN), Dolby Laboratories, Inc. (NYSE: DLB), Apple Inc. (NASDAQ: AAPL), Sony Corporation (NYSE: SNE)
InnerScope Hearing Technologies Inc. (OTCQB: INND) announced today a successful launch as part of the INND.com website an Direct-To-Consumer (DTC) E-Commerce Store for its Personal Sound Amplification Products (PSAPs) and its Hearable/Wearable hearing products. The Company prides itself on giving consumers direct access to top quality hearing products from around the world and plans on adding new products to the website as they are developed. The Company continues to expand infrastructure and growth capabilities within its new E-Commerce platform, beginning with the launch of its E-Commerce DTC Store. Read this and more news for INND at http://www.marketnewsupdates.com/news/innd.html
InnerScope Hearing Technologies DTC E-Commerce Store launched with 2 ear-level PSAP products with its universal fitting earpiece that fits approximately 94% of all consumers and can be worn comfortably all day. In addition, the store also offers 2 Hearable/Wearable PSAP products that can be used to understand conversation better in a variety of situations and difficult listening environments. The Hearable/Wearable products, have Bluetooth functionality and is able to be adjusted by the user for more advance hearing features using a smartphone with the Andriod app as well as having the options for streaming capabilities via audio input for music/movies.
"We are very excited and thrilled when we went live with our E-Commerce DTC Store," said Matthew Moore, president of InnerScope Hearing Technologies (INND). "Building an E-Commerce platform is part of the company's vision for our strategic expansion and a key component to create a continuous "Revenue Eco-System". This revenue-driven strategy and innovation allows us to stay competitive in this era of digital transformation by capturing the customer's hearing needs and experiences at every stage of their journey to find a solution to help them hear better. Sticker Shock of the cost of traditional hearing aids from $4,000 to $6,000 coupled with the inconvenience of making multiple trips to get the hearing aids fitted, results in 80% of the population that seek help, deciding not to get hearing aids or help of any kind. We have built our E-Commerce platform specifically for those individuals who are not receiving the help they need and deserve. The PSAPs and Hearables/Wearables technology products that we are offering through our DTC E-Commerce Store are fast becoming an alternative hearing solution over the high cost and inconvenience of hearing aids. It is estimated approximately 1.2 billion people are suffering with 25 db or greater hearing loss that could consider using PSAP's and or Hearables for helping with their hearing needs.
In the audio industry developments and happenings in the market this week include:
Knowles Corporation (NYSE: KN) closed up on Tuesday at $16.73 trading over 1/2 Million shares by the market close. Knowles provides component and system solutions for all types of BTE hearing instruments from Super BTE to Miniature BTE. With our range of products, we can advise on the configuration of microphones for improved directionality to allow for the most enhanced end user experience possible. Knowles is a market leader and global supplier of advanced micro-acoustic, audio processing, and precision device solutions, serving the mobile consumer electronics, communications, medical, military, aerospace, and industrial markets.
Dolby Laboratories, Inc. (NYSE: DLB) - Dolby Fidelio is a wireless audio system that delivers both Hearing Impaired (HI) for hard-of-hearing patrons, and Visually Impaired Narration (VI) for visually impaired patrons. The system includes a transmitter which integrates with your digital cinema server, a charging station with configuration tablet that allows your staff to charge and program receivers for use in any equipped auditorium.
Apple Inc. (NASDAQ: AAPL) - iPhone hearing aids accessibility - Made for iPhone hearing aids help consumers hear more clearly on your iPhone, iPad, or iPod touch. Special hearing aids that meet Apple's specifications can tap directly into iPhones and iPads to stream audio. "Made for iPhone" program, which employ Bluetooth and a special protocol technology from Apple to better connect to iPhones and iPads. That lets users stream audio directly to their ears, much as you would with regular wireless Bluetooth headphones such as Apple's AirPods.
Sony Corporation (NYSE: SNE) wireless headphones utilize a pair of speakers to drown out ambient sound, adjusting automatically to one of three different sound scenarios: plane, train/bus and office. When the wearer covers the right ear with the palm of their hand, the music lowers and the system amplifies human voice, serving almost as a hearing aid of sorts. The right earcup also features a touch panel, a la Parrot's Zik line, offering the standard array of controls. The battery should last 20 hours on a charge when listening to sound - and when that dies, you can switch to a hardwired mode.
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