Amber Enterprises' India subsidiary ILJIN has initiated a joint venture (JV) with Nexxbase to engage in the production and design of wearable technology. In this partnership, ILJIN will hold a 50 percent ownership stake in the JV, with the remaining 50 percent being owned by Nexxbase.

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Nexxbase is known for producing products under the brand name "Noise".

In an interview with CNBC-TV18, Jasbir Singh, the Chairman and CEO of Amber Enterprises India spoke about the future prospects of the wearable and hearable technology sector.

He expressed optimism regarding the future of wearables and hearables. Singh emphasised that these segments are poised for remarkable expansion in the coming years, and the growth could be in the double digits.

Singh said, “Noise, looking at their history, has been growing in double-digit in the last couple of quarters. So, we expect that they will continue to grow that.”

The wearable technology market has been steadily evolving, with innovations ranging from smartwatches and fitness trackers to augmented reality glasses and health monitoring devices. As technology continues to advance and consumers increasingly embrace these products, Singh's prediction of sustained double-digit growth becomes increasingly plausible.

Hearables, a subset of wearables that includes products like wireless earbuds and smart headphones, have gained significant traction in recent years. With features such as noise cancellation, voice assistants, and seamless connectivity, hearables have become an integral part of consumers' daily lives. Singh's forward-looking perspective suggests that this momentum is expected to persist well into the future.

As traditional product categories mature, companies are actively exploring new avenues for growth. Wearables and hearables represent not only a technological evolution but also an opportunity for businesses to diversify their portfolios and cater to changing consumer preferences.

Furthermore, the ongoing integration of artificial intelligence and health monitoring capabilities into wearable and hearable devices is expected to be a key driver of growth. These technologies offer users personalised experiences and valuable health insights, enhancing the appeal of such products.

As these segments mature and evolve, they are likely to play an increasingly prominent role in the broader landscape of consumer electronics.

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