Europe Wearable Devices Market, By Device Type (Diagnostic and Monitoring Devices and Therapeutic Devices), Product Type (Wrist-wear, Eyewear, Footwear, Neckwear, Body wear and Others), Application (Sports and Fitness, Remote Patient Monitoring and Home Healthcare), Industry (Consumer Products, Healthcare, Industrial and Others), End Users (Personal Users and Enterprises), Country (Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe) Industry Trends and Forecast to 2029
Market Analysis and Insights of Wearable Devices Market
Data Bridge Market Research analyses that the wearable devices market will exhibit a CAGR of around 13.7% for the forecast period of 2022 to 2029. Rising proliferation of internet and smartphones globally, increased focus on research and development proficiencies in regards to medical devices and on the adoption of advanced healthcare technologies and rising expenditure on the healthcare infrastructure development especially in the developing economies are the major factors attributable to the growth of wearable devices market.
Wearable devices refer to the smart and electronic wearable technologies that are based upon latest technologies and advancements. These are worn by the customers for a wide range of monitoring features such as pulse monitoring, heart rate monitoring and so on. These are embedded with micro sensors that enables in recording the desired information.
Upsurge in the demand for real-time healthcare data providing portable devices are the major factors fostering the growth of the market. Rising focus on the healthcare technological advancements for the development of new and advanced products coupled with rising proliferation of internet of things is another market growth determinant. Rising research and development proficiencies, ever-rising geriatric, growing awareness about the benefits of maintaining physical fitness and increasing personal disposable income will further generate lucrative market growth opportunities.
However, rising security and privacy concerns will further derail the market growth rate. Stringent government regulations and high manufacturing costs will further pose challenges for the market. Low battery life of wearable devices will also hamper the market growth rate.
This wearable devices market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on wearable devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Europe Wearable Devices Market Scope and Market Size
The wearable devices market is segmented on the basis of device type, product type, application, industry and end users. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of device type, the wearable devices market is segmented into diagnostic and monitoring devices and therapeutic devices. Diagnostic and monitoring devices segment is sub-segmented into wearable vital signs monitor, wearable foetal monitors and obstetric devices and neuro-monitoring devices. Wearable vital sign monitors segment is further bifurcated into wearable heart Rate monitors, wearable activity monitors, wearable electrocardiographs and others. Neuro-monitoring devices segment is further bifurcated into electroencephalography and electromyography. Therapeutic devices segment is sub-segmented into glucose/ insulin monitoring devices and wearable respiratory therapy devices.
- On the basis of product, the wearable devices market is segmented into wrist-wear, eyewear, footwear, neckwear, body wear and others.
- On the basis of application, the wearable devices market is segmented into sports and fitness, remote patient monitoring and home healthcare.
- On the basis of industry, the wearable devices market is segmented into consumer products, healthcare, industrial and others.
- On the basis of end users, the wearable devices market is segmented into personal users and enterprises.
Wearable Devices Market Country Level Analysis
The wearable devices market is analysed and market size insights and trends are provided by country, device type, product type, application, industry and end users as referenced above.
The countries covered in the wearable devices market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, and Rest of Europe in Europe.
U.K. and Germany are expected to register significant market growth rate owing to presence of key players in region and high pace in technological advancement.
The country section of the wearable devices market 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 consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The wearable devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for digital health technologies market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the wearable devices market. The data is available for historic period 2010 to 2020.
Competitive Landscape and Wearable Devices Market Share Analysis
The wearable 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to wearable devices market.
The major players operating in the wearable devices market report are SAMSUNG, Garmin Ltd., Huawei Technologies Co., Ltd., Apple Inc., Sony Corporation, HTC Corporation, Fitbit, Inc., Xiaomi Global Community, ADIDAS AG, Nike, Inc., LG Electronics., Motorola Solutions, Inc., Fossil Group, Inc., Google LLC, Polar Electro, Withings, Michael Kors, CASIO AMERICA, INC., TomTom International BV and ASUSTeK Computer Inc. among others.