Asia-Pacific Wearable Electronic Devices Market, By Type (Head-Mounted Displays, Smartwatches, Ear-Worn Devices (Hearables), Sports Watches, Wristbands, Smart Garments), Application (Sports and Fitness, Healthcare, Security and Proximity, Automotive, Electronics, Automation, Industrial, Others), Country (China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and rest of Asia-Pacific) Industry Trends & Forecast to 2020
Wearable electronic devices market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 26.8% in the forecast period of 2020 to 2027 and is expected to reach USD 51,469.34 million by 2027 from USD 12,105.79 million in 2019. Rising awareness about health and fitness along with high adoption of digitalization and changing lifestyle of people is the major driver which is propelling the wearable electronic devices market in the forecast period.
Wearable electronics are distinguished from the mobile devices because of their size and because they are designed essentially to be worn on the human body. A true piece of wearable electronics, means conceptually connected to the wearer’s body, is often expected to be worn for work. Some wearable devices allow the user interface to be present and available all the time, meaning they are more obtrusive than devices that have no feedback such as a heart rate monitor's wrist unit and chest belt. The essential elements required for wearable technologies include actuators, sensors and controllers as a power source and software for data acquisition, transfer and storage. Computing has evolved with the time and the new focus towards wearable IoT devices is a new form of smart technology in order to give accurate and precise data for the wearable electronic devices in the market.
The demand owing to increase in IoT and connected devices have also boost the wearable electronic devices market. Further, the high cost and availability of alternative substitutes is expected to restraint the usage of wearable electronic devices market in the forecasted period.
The wearable electronic devices market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Wearable Electronic Devices Market Scope and Market Size
Wearable electronic devices market is segmented on the basis of type and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, Asia-Pacific wearable electronic devices market is segmented into head-mounted displays, smartwatches, ear-worn devices (hearables), sports watches, wristbands and smart garments. Smartwatches are dominating in the market due to smartwatches demand is continuously increasing around the world due to increasing demand of smart gadgets for health monitoring (fall detection), fitness monitoring, notifications and voice calls, reminders, contactless payment, entertainment and among others.
- On the basis of application, Asia-Pacific wearable electronic devices market is segmented into sports and fitness, healthcare, security and proximity, automotive, electronics, automation, industrial and others. Sports and fitness segment is expected to dominate the market as due to continuous increasing adoption of wearable electronic devices for sports and fitness in the order to enhanced sports, fitness, and well-being by monitoring physiological conditions of wearers.
Asia-Pacific Wearable Electronic Devices Market Country Level Analysis
The wearable electronic devices market is analysed and market size information is provided by country, type and application as referenced above.
The countries covered in the wearable electronic devices market report are the China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and rest of Asia-Pacific.
The Asia-Pacific region is expected to grow with the most promising growth rate in the forecast period of 2020 to 2027 because of major companies foraying into the market such as Apple and Samsung, the look and feel for wearables would increase immensely. These devices are targeting the fashion sense and the health necessity hence doubling the growth of the market. Initially these products were for the priviledged but with Chinese players launching their products in developing nations of this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Partnership and New Product Launch in Wearable Electronic Devices is Creating New Opportunities for Players in the Wearable Electronic Devices Market
Wearable electronic devices market also provides you with detailed market analysis for every country growth in particular industry with wearable electronic devices sales, impact of advancement in the wearable electronic devices and changes in regulatory scenarios with their support for the wearable electronic devices market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Wearable Electronic Devices Market Share Analysis
Wearable electronic devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to wearable electronic devices market.
The major players covered in the wearable electronic devices market report are Apple Inc., Xiaomi, SAMSUNG, Huawei Technologies Co., Ltd., Fitbit, Inc., ASUSTeK Computer Inc., FASTRACK LTD., PUMA SE, FOSSIL GROUP, INC., Garmin Ltd., HK SMARTMV LIMITED., Seiko Epson Corporation, HTC Corporation., Kopin Corporation, LG Electronics., Montrichard (H.K.) Ltd., Polar Electro, Sony Corporation, UMIDIGI and Vuzix Corporation among other domestic and Asia-Pacific players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the wearable electronic devices market.
- In September 2020, Kopin Corporation. Launched super high performance head mounted a display which is inbuilt with advanced designs and processing techniques to produce unsurpassed image performance. This helmet is going to maintain situational awareness in extreme operating environments for the pilots. The company is going to earn more revenue through it by providing supply to defense sector and enhance the brand image of the company.
- In November 2019, Garmin International, a unit of Garmin Ltd. announced the business partnership with SCOR Global life to inspire consumers with healthier lives through Biological Age Model solution data offering practical health solutions to the customers through global insurer programs. This partnership will increase the customer portfolio and generate more income to the company.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the wearable electronic devices market which also provides the benefit for organisation to improve their offering for wearable electronic devices.
Customization Available: Asia-Pacific Wearable Electronic Devices Market
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