Europe 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 (Germany, U.K., France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey, Rest of Europe) Industry Trends & Forecast to 2027
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 22.6% in the forecast period of 2020 to 2027 and is expected to reach USD 31,585.46 million by 2027. 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 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 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.
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, the wearable electronic devices market is segmented into smartwatches, ear-worn devices (hearables), head-mounted displays, sports watches, wristbands and smart garments. In 2020, smartwatches are dominating in the market because 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 the wearable electronic devices market is segmented into sports and fitness, healthcare, security and proximity, electronics, industrial, automation, automotive and others. In 2020, 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.
Wearable Electronic Devices Market Country Level Analysis
The wearable electronic devices market is analysed and market size information is provided by type and application.
The countries covered in the wearable electronic devices market report are the Germany, U.K., France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey and Rest of Europe.
Europe is expected to grow with the third highest growth rate in the forecast period of 2020 to 2027 due to increasing demand of fitness and health tracking devices in the region. Germany is dominating the European market due to the demand for electronic device innovation along with the availability of the funds for research and development.
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 Europe 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 Collaboration by the Player for Development of New Advance Wearable Sensors 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 breath, 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 report are Apple Inc., PUMA SE, Seiko Epson Corporation, Fitbit, Inc., LG Electronics., SAMSUNG, Sony Corporation, Xiaomi, Garmin Ltd., FOSSIL GROUP, INC., Huawei Technologies Co., Ltd., Polar Electro, Vuzix Corporation, Kopin Corporation, ASUSTeK Computer Inc., HTC Corporation., Montrichard (H.K.) Ltd. and UMIDIGI among other domestic and Europe 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 March 2019, Apple Inc., launched ECG App along with the irregular heart rhythm notification on its apple watch. This new feature incorporated by Apple Inc. increased its credibility in the market leading to increased demand in market.
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: Europe Wearable Electronic Devices Market
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