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Global Wearable Devices Market – Industry Trends and Forecast to 2029

  • Healthcare
  • Upcoming Report
  • Mar 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220
  • Healthcare
  • Upcoming Report
  • Mar 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Wearable Devices Market, By Product (Wrist-wear, Eyewear, Footwear, Neckwear, Body wear, Others), Type (Smart Textile, Passive, Active, Ultra-Smart and Non-Textile), Industry (Consumer Products, Healthcare, Industrial and Others), End Users (Personal Users and Enterprises) – Industry Trends and Forecast to 2029.

Wearable Devices Market

Global Wearable Devices Market Analysis and Size

The wearable devices are widely being deployed as advancements in wireless technologies. These devices have enhanced patient’s mobility at hospitals and homes. The increase in technological advancements is escalating the growth of wearable devices market.

  • The wearable devices market was valued at USD 116.00 billion in 2021 and is expected to reach USD 460.25 billion by 2029, registering a CAGR of 18.80% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Global Wearable Devices Market Definition

Wearable technology is one of the most prominent technology that incorporates technology with regular accessories that enables users to make their life easier. This technology helps its users in achieving their particular goals. Wearable devices are expected to offer benefits to the different classes of people in their daily lives.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product (Wrist-wear, Eyewear, Footwear, Neckwear, Body wear, Others), Type (Smart Textile, Passive, Active, Ultra-Smart and Non-Textile), Industry (Consumer Products, Healthcare, Industrial and Others), End Users (Personal Users and Enterprises)

Countries Covered

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 (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

SAMSUNG (South Korea), Garmin Ltd. (US), Huawei Technologies Co., Ltd. (China), Apple Inc. (US), Sony Corporation (Japan), HTC Corporation (Taiwan), Fitbit, Inc. (US), Xiaomi Global Community (China), ADIDAS AG (Germany), Nike, Inc. (US), LG Electronics. (South Korea), Motorola Solutions, Inc. (US), Fossil Group, Inc. (US), Google LLC (US), Polar Electro (Finland), Withings (France), Michael Kors (US), CASIO AMERICA, INC. (US), TomTom International BV (Netherlands), and ASUSTeK Computer Inc. (Taiwan), among others

Market Opportunities

  • Increase In The Geriatric Population
  • Rise in Consumer Preference For Sleek and Compact Devices
  • Surge In The prevalence of lifestyle diseases

Wearable Devices Market Dynamics

This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Geriatric Population

The increase in the geriatric population acts as one of the major factors driving the growth of wearable devices market as they are more prone to chronic diseases.

  • Fitness and Healthcare Applications

The rise in consumer preference for sleek and compact devices in fitness and healthcare applications accelerate the market growth.

  • Lifestyle Diseases

The surge in the prevalence of lifestyle diseases, such as atherosclerosis, heart disease, and stroke further influence the market.

Opportunities

Furthermore, increase in the demand for wearables that integrate all computing requirements in one compact device extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, adoption of wearables in multiple applications will further expand the market.

Restraints/Challenges Global Wearable Devices Market

On the other hand, concerns regarding limited battery life and unaddressed regulatory issues are expected to obstruct market growth. Also, rise in demand for continuous developments in devices is projected to challenge the wearable devices market in the forecast period of 2022-2029.

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 localized 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.

COVID-19 Impact on Wearable Devices Market

COVID-19 had a negative impact on the wearable devices market owing to the supply chain disruptions and COVID-19 restrictions imposed by government. The manufacturing sector was hardly hit by the pandemic that declined the growth of the market. The implementation of global lockdown impacted the production schedules of the manufacturing industries. The sales dropped down amid the lockdown that resulted in drop in sales ratio and limited deliveries. However, market will resume its growth in the post-pandemic due to the easing in restrictions that were imposed earlier.

Recent Developments

  • Apple Inc. launched Apple Watch Series 6 and Apple Watch SE, along with iPad models, in the first fitness experience built for Apple Watch in September’2020. The products bring significant developments in health and wellness features. Apple Watch Series 6 developed the health capabilities of previous Apple Watch models with a new feature. This feature will assist in measuring the oxygen saturation of blood.

Global Wearable Devices Market Scope and Market Size

The wearable devices market is segmented on the basis of product, type, industry and end users. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

  • Wrist-Wear
  • Eyewear
  • Footwear
  • Neckwear
  • Body Wear
  • Others

On the basis of product, the wearable devices market is segmented into wrist-wear, eyewear, footwear, neckwear, body wear and others.

Type

  • Smart Textile
  • Passive
  • Active
  • Ultra-Smart
  • Non-Textile

On the basis of type, the wearable devices market is segmented into smart textile, passive, active, ultra-smart and non-textile.

Industry

  • Consumer Products
  • Healthcare
  • Industrial
  • Others

On the basis of industry, the wearable devices market is segmented into consumer products, healthcare, industrial and others.

End Users

  • Personal Users
  • Enterprises

On the basis of end users, the wearable devices market is segmented into personal users and enterprises.

Wearable Devices Market Regional Analysis/Insights

The wearable devices market is analysed and market size insights and trends are provided by country, end users and equipment as referenced above.

The countries covered in the wearable 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 (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the wearable devices market because of the increase in the internet users and several companies associated with technological innovations within the region.

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increasing purchasing power in the 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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the 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 wearable devices 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 2010-2020.

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.

Some of the major players operating in the wearable devices market are:

  • SAMSUNG (South Korea)
  • Garmin Ltd. (US)
  • Huawei Technologies Co., Ltd. (China)
  • Apple Inc. (US)
  • Sony Corporation (Japan)
  • HTC Corporation (Taiwan)
  • Fitbit, Inc. (US)
  • Xiaomi Global Community (China)
  • ADIDAS AG (Germany)
  • Nike, Inc. (US)
  • LG Electronics (South Korea)
  • Motorola Solutions, Inc. (US)
  • Fossil Group, Inc. (US)
  • Google LLC (US)
  • Polar Electro (Finland)
  • Withings (France)
  • Michael Kors (US)
  • CASIO AMERICA, INC. (US)
  • TomTom International BV (Netherlands)
  • ASUSTeK Computer Inc (Taiwan)

Research Methodology : Global Wearable Devices Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-wearable-devices-market


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Frequently Asked Questions

The Wearable Devices Market is expected to USD 460.25 billion by 2029.
The Wearable Devices Market is Expected to Witness CAGR of 18.80% During the Forecast Period of 2022 to 2029.
The Major Players Operating in the Wearable Devices Market are SAMSUNG (South Korea), Garmin Ltd. (US), Huawei Technologies Co., Ltd. (China), Apple Inc. (US), Sony Corporation (Japan), HTC Corporation (Taiwan), Fitbit, Inc. (US), Xiaomi Global Community (China), ADIDAS AG (Germany), Nike, Inc. (US), LG Electronics. (South Korea), among others.
The Countries Covered in the Wearable 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 (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The Wearable Devices Market Report Curated by the Data Bridge Market Research Team Includes In-Depth Expert Analysis, Patient Epidemiology, Pipeline Analysis, Pricing Analysis, and Regulatory Framework.