Global Wearable Technology Market is estimated to reach $58.3 Billion by 2024; growing at a CAGR of 15.8% from 2016 to 2024. Wearable technology consists of electronic devices that are worn as accessories or can be implanted in the body. These devices are capable of connecting with internet and exchanges data between network and device. The wearable technology market has witnessed a surge due to which major companies are incorporating new technologies into their digital and mobile strategies to increase their global market share. Moreover, these devices have been also worn as fashion statement as customers are becoming high-tech accessorized.
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The global wearable technology market is driven by factors such as, rising health consciousness, increasing demand for connected devices and IoT, development of innovative devices by manufacturers, growing demand for sophisticated devices, and others. Though, high cost wearable devices may hamper the market growth. Rising need for multi-features applications for mobile devices, and growing applications of these devices would create new market opportunities in years to come.
The global wearable technology market is segmented as applications and geography. Application comprises of infotainment (smart glasses, augmented reality headsets, smart watches, and others), healthcare and medical (drug delivery, monitors, continuous glucose monitor, wearable patches, and others), fitness and wellness (smart clothing and smart sports glasses, activity monitors, sleep sensors, and others), and industrial and military (augmented reality headsets, hand worn terminals, and others).
Based on geographical analysis, wearable technology market is classified into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. While, Rest of the world covers South America, Middle East, and Africa.
The players competing in this market include Apple Inc., Garmin Ltd., Huawei Technologies Co., Ltd., Adidas AG, Fitbit, Inc., Xiaomi Technology Co. Ltd., Alphabet, Inc., Qualcomm Technologies, Inc., Sony Corporation, and LifeSense Group B.V., among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Wearable Technology Market with respect to major segments such as application, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Wearable Technology Market has been included in the report
- Profile of the key players in the Global Wearable Technology Market will be provided, which include key financials, product & services, new developments, and business strategies
Scope of the Global Wearable Technology Market
- Smart Glasses
- Augmented Reality Headsets
- Smart Watches
Healthcare and Medical
- Drug Delivery
- Continuous Glucose Monitor
- Wearable Patches
Fitness and Wellness
- Smart Clothing and Smart Sports Glasses
- Activity Monitors
- Sleep Sensors
Industrial and Military
- Augmented Reality Headsets
- Hand Worn Terminals
- South Korea
- South America
- Middle East
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