The Wearable Technology market is projected to reach US$ 125.16 Bn by 2030. And registering a CAGR of around 15.8% over the forecast period 2021 – 2030.
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Growth Factors
The rapid increase in demand for multimedia devices and smartphones, coupled with the surge in the adoption of fitness trackers and health-based wearables, is anticipated to propel the market for wearable technology. Furthermore, increasing health awareness among consumers is leading to increased interest in fitness activities such as cycling, running, and walking. Fitness and activity tracking devices provide a way of monitoring progress and analyzing the physiological data gathered, thereby contributing to market growth.
Rising incomes, changing lifestyles, improved standards of living, and increased consumer awareness about the need to adopt energy-efficient products are encouraging consumers to spend more on utilities, thereby supporting the market growth. Furthermore, technological innovations and advancements and the larger availability of affordable and efficient products create growth opportunities for the market.
By Segment Analysis
Based on product, the market is categorized into neck-wear, foot-wear, wrist-wear, body-wear, eye-wear, and head-wear, and others. The wrist-wear segment dominated the market in 2020 and accounted for more than 48.9% market share. A fitness wristwatch or band can be paired with a mobile application to offer key fitness-related information and statistics to the user.
The eye-wear and head-wear product segment is anticipated to expand at a CAGR of 14.2% from 2021 to 2030. Eye-wear products mainly comprise goggles such as Microsoft HoloLens, VISR Goggles, and Google Glass. Head-mounted display devices are anticipated to witness significant growth over the forecast timeframe.
By Application Analysis
Based on application, the market is segmented into healthcare, enterprise, and industrial application, consumer electronics, and others. The consumer electronics application segment accounted for more than 49.4% of global revenue in 2020.
The rapid increase in the adoption of wearable devices and health apps, coupled with improvement in technology, has increased the scope of monitoring health remotely, thereby allowing for better communication among patients and doctors.
By Regional Analysis
North America dominated in 2020 and accounted for over 35.7% of global revenue. The region houses a large population of internet users and several companies associated with technological innovations, such as Alphabet; Garmin Ltd.; and Apple Inc.
the Asia Pacific market for wearable technology is anticipated to witness promising growth due to increasing purchasing power, the growing population of tech-savvy people, and the presence of several leading market players in the region.
Key Players
- Apple Inc.
- FitBit Inc.
- Sony Group Corporation
- Garmin Ltd.
- Samsung Electronics Co. Ltd.
Market Segmentation
- Product
- Wrist-Wear
- Eye-Wear & Head-Wear
- Foot-Wear
- Neck-Wear
- Body-Wear
- Others
- Application
- Consumer Electronics
- Healthcare
- Enterprise & Industrial Application
- Others
- Regional
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- North America
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Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Wearable Technology Market, By Product
7.1. Wearable Technology Market, by Product, 2021-2030
7.1.1. Wrist-Wear
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Eye-Wear & Head-Wear
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Foot-Wear
7.1.3.1. Market Revenue and Forecast (2017-2030)
7.1.4. Neck-Wear
7.1.4.1. Market Revenue and Forecast (2017-2030)
7.1.5. Body-Wear
7.1.5.1. Market Revenue and Forecast (2017-2030)
7.1.6. Others
7.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Wearable Technology Market, By Application
8.1. Wearable Technology Market, by Application, 2021-2030
8.1.1. Consumer Electronics
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Healthcare
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Enterprise & Industrial Application
8.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Wearable Technology Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
Chapter 10. Company Profiles
10.1. Apple Inc.
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. FitBit Inc.
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Sony Group Corporation
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Garmin Ltd.
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Samsung Electronics Co. Ltd
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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