As smartphones and tablets have emerged with digitalization, similarly wearable technologies have also developed with advanced features and independent processing capabilities. The increasing demand for IOT devices for single remote access has been much in use in recent years. The rise in the demand for several advanced gadgets along with features is a major element driving market expansion.
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Data Bridge Market Research analyses that the Global Wearable Electronic Devices Market was valued at USD 67,373.95 million in 2021 and is expected to reach the value of USD 4,09,355.4 million by 2029, at a CAGR of 25.3% during the forecast period. The increasing demand for the Wearable electronic devices across pharmaceutical sector will provide potential opportunities for the market growth in the forecast period.
Rising awareness about health and fitness is expected to drive the market's growth rate
The beginning of advanced and smart wearable in the healthcare vertical and the increasing occurrence of IoT and smartphones are anticipated to boost the market growth during the forecast period. The increasing usage of smart electronic wearable electronic devices for runners aids in determining their burnout or physical activities. The device shows correct amount of calories burnt and also restrict the consumer towards unhealthy diets having advanced software in built in it.
Report Scope and Market Segmentation
Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Networking and Positioning Components, Power Supply Components, Sensing Components, Optoelectronic and Display Component, Controls Components, Interface Components), Product (Wrist-Wear, Eye-Wear, Body-Wear, Foot-Wear, Neck Wear, Others), Technology (Display technologies, Computing Technologies, Positioning Technologies, Networking Technologies, Speech Recognition Technology, Sensor Technologies), Application (Healthcare Application, Consumer Application, Industrial Applications, Commercial Applications)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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SAMSUNG (South Korea), Garmin Ltd. (U.S.), Huawei Technologies Co., Ltd. (China), Apple Inc. (U.S.), Sony Corporation (Japan), HTC Corporation (Taiwan), Fitbit, Inc. (U.S.), Xiaomi Global Community (China), ADIDAS AG (Germany), Nike, Inc. (U.S.), LG Electronics. (South Korea), Motorola Solutions, Inc. (U.S.), Fossil Group, Inc. (U.S.), Google LLC (U.S.), Polar Electro (Finland), Withings (France), Michael Kors (U.S.), CASIO AMERICA, INC. (U.S.), TomTom International BV (Netherlands), and ASUSTeK Computer Inc. (Taiwan)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis:
Global wearable electronic devices market is categorized into two notable segments which are based on type and application.
The smartwatches segment of type is anticipated to dominate the wearable electronic devices market
The smartwatches segment is dominating the market with a CAGR of 40.3% in the forecast period of 2022 to 2029 as smartwatches demand is endlessly increasing around the world because of the growing demand of smart gadgets for contactless payment, health monitoring, reminders, fitness monitoring, notifications and voice calls, entertainment and among others. Furthermore, smartwatches adoption and preference has increase in last few years in numerous industries healthcare, well-being, sports, fitness, work safety, security and proximity, fashion.
The sports and fitness segment of type is anticipated to dominate the wearable electronic devices market
The sports and fitness segment is dominating the market a CAGR of 48.29% in the forecast period of 2022 to 2029 due to increasing adoption of wearable electronic devices for sports and fitness to improve sports activities, fitness, and well-being by monitoring physiological conditions of wearers. Wearable electronic devices are helping wearers to optimize behavior during training and competition is desirable for athletes to achieve high performance.
Major Players
Data Bridge Market Research recognizes the following companies as the major wearable electronic devices market players in wearable electronic devices market are SAMSUNG (South Korea), Garmin Ltd. (U.S.), Huawei Technologies Co., Ltd. (China), Apple Inc. (U.S.), Sony Corporation (Japan), HTC Corporation (Taiwan), Fitbit, Inc. (U.S.), Xiaomi Global Community (China), ADIDAS AG (Germany), Nike, Inc. (U.S.), LG Electronics. (South Korea), Motorola Solutions, Inc. (U.S.), Fossil Group, Inc. (U.S.).
Market Development
Regional Analysis
Geographically, the countries covered in the wearable electronic devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America
As per Data Bridge Market Research analysis:
North America is the dominant region in wearable electronic devices market during the forecast period 2022 to 2029
North America dominates the wearable electronic devices market because of the presence of major market players and technical innovations that are associated with these devices.
Asia-Pacific is estimated to be the fastest growing region in wearable electronic devices market the forecast period 2022 to 2029
Asia-Pacific is expected to grow during the forecast period of 2022 to 2029 due to the increasing demand for advanced technical gadgets and advanced features in this region.
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Global Wearable Electronic Devices Market - Industry Trends and Forecast to 2029
Asia-Pacific Wearable Electronic Devices Market – Industry Trends and Forecast to 2027
Europe Wearable Electronic Devices Market – Industry Trends and Forecast to 2030
Middle East and Africa Wearable Electronic Devices Market – Industry Trends and Forecast to 2027
North America Wearable Electronic Devices Market – Industry Trends and Forecast to 2027