German firm Bragi introduced the world's first wireless smart in-ear headphones that play music and gives you feedback on exercise sessions. CEO Nikolaj Hviid told CNBC back in June that the product was essentially a self-contained system.
"It's a really small computer that sits in your ear. It will entertain you and advise you what to do better, and exercise right. It senses your movements, heart rate, blood flow, blood pressure and respiration rate. It takes all that data, processes it and gives you feedback via voice," he said.
IDC's Stires believes Apple could be a leading player in the hearable sector: "With Apple's $3.2 billion acquisition of Beats, I think we're going to see Apple release some pretty interesting audible next year."
Not too long after rumors of Apple's deal surfaced in May, Intel teamed up with famed U.S. rapper 50 Cent in August to develop smart earbuds that track a listener's health metrics while playing music.
Hearables won't be limited to just earphones however. Earlier this year, Canadian start-up BioSensive Technologies introduced a 'smart earring' able to monitor an individual's heart rate and health activity.