"Smart Strategies, Giving Speed to your Growth Trajectory"

Wearable Technology Market Size, Share & Industry Analysis, By Type (Wrist wear, Eye wear,Hearables, Body wear), By Product (Smart Watch, Smart Glasses, Fitness and Wellness devices), By Application(Lifestyle, Healthcare, Consumer applications, Defense) And Regional Forecast 2023-2030

Region : Global | Report ID: FBI106000 | Status : Ongoing

 

KEY MARKET INSIGHTS

Wearable technology is also known as wearables. They are the electronic products or devices that are hand free and can be implanted in user’s body or can be worn as accessories as well as can be embedded in the clothing. Wearable technology products are microprocessor powered which has ability to send and receive data via internet, and have practical uses on real time basis.


Wearable technology aims to have an effect on fields such as health and medicine, wellness, ageing, disability, education, transportation, business, finance, gaming, and music, among others. The aim is to synchronize into people's everyday lives and become a useful part of them.


The high requirement for brightness and high power consumption are the major challenges that businesses face. However recently, it has been possible to create compact and affordable electronic displays, and recent product releases by a variety of market players indicate that display technology in wearable devices is improving. Smart watch category among the wearables is showing rapid growth owing to the additional features it provides into daily life improving the lifestyle.


Key Market Driver -

• By the increasing popularity of the Internet of Things (IoT) and connected devices the demand is expected to grow. • Rise in obesity and other chronic diseases may lead to the adoption of wearable products. • Rising popularity of smart phones, mobile applications and mobile accessories can boost the growth.

Key Market Restraint -

• Products having limited battery life.


Key Players Covered:


The manufacturing companies of wearable devices are investing huge amount in R&D Iin order to come up with best ideas and best products to achieve larger market share.  Some of the key players among others in the wearable device market are Apple Inc., Samsung Group, Xaiomi Inc., Fitbit Inc, Shimmer Research, Sony Corporation, Huawei Technologies Co., Ltd. LG Electronics Inc., Motorola Solutions Inc., Fossil Group, Inc., Google Inc. and Pebble Technology Corp. In April 2021 Fitbit has announced Fitbit Luxe. A stylish fitness and wellbeing tracker that encourages user to take a more holistic approach towards health and wellness. With everything from stress management tools to automated activity and sleep monitoring, Luxe provides the inspiration and help user need to remain safe in today's world.


Region Analysis


Currently North America dominates the wearable device market and is expected to grow attractively in the forecasted period 2021-2028 owing to the early adoption of the technology and the factor that the region is hub for technological advancement across the globe. Also increasing health concerns and awareness of the usage of products are the factor of growth.


Asia Pacific wearable device market is expected to grow at highest CAGR and is expected to dominate the market in future owing to the lifestyle change, increasing requirement of wearable medical devices and the region is well known for fitness and sports. China and India would hold the maximum share of the growth from rest of the Asia Pacific region as both of the countries has highest population across the globe. Also China and India provide wearable devices at low and affordable price which could increase the overall rate of consumer electronics adoption and be the driving factor.


South America and Europe is expected to steady and considerable growth in the market for forecasted period owing to factors such as raising awareness and increased awareness, and growing tech-savvy population. Similarly, Middle East and Africa wearable market are expected to show significant growth in the forecasted period owing to increase in adoption of the technology by hospitality industry by providing wristbands to their guest which they can use to open doors, pay for meals, and do a variety of other things during their stay. Along with that the current market is witnessing huge transition from fitness bands to smart watches.


To gain extensive insights into the market, Request for Customization


Segmentation


























  ATTRIBUTE


  DETAILS

By Type


 




  • Wrist wear

  • Eye wear

  • Hearables

  • Body wear

  • Neck wear



By Product




  • Smart Watch

  • Smart Glasses

  • Fitness and Wellness devices

  • Earphones

  • Others( Smart Clothing)



By Application




  • Lifestyle

  • Healthcare

  • Consumer applications

  • Defense

  • Fitness & sports

  • Others(Enterprise & industrial, etc.)



By Region




  • North America (the United States, Canada, and Mexico)

  • South America (Brazil, Argentina, and Rest of South America)

  • Europe (the U.K., Germany, France, Italy, Spain, Russia, Benelux, Nordics, and Rest of Europe)

  • Middle East & Africa (Turkey, Israel, GCC, North Africa, South Africa, and Rest of the Middle East & Africa)

  • Asia Pacific (China, India, Japan, South Korea, ASEAN, Oceania, and Rest of Asia Pacific)



Key Industry Developments:



  • March 2021: Shimmer Research has released Verisense Pulse+, a new sensor for the Verisense platform. Photoplethysmogram (PPG), galvanic skin response (GSR), and an inertial measurement unit are all included in Verisense Pulse+ (IMU).


  • Ongoing
  • 2022
  • 2019-2021

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $7850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Information & Technology Clients

Lek
Lg
Kpmg
Panasonic
Fujitsu

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X