Global Wearable Devices Market by Product (Wrist-wear, Eyewear, Footwear, Neckwear, Body wear and Others), Type (Smart Textile, Passive, Active, Ultra-Smart and Non-Textile), Industry (Consumer Products, Healthcare, Industrial and Others), End Users (Personal Users and Enterprises), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Rising penetration of smartphones and internet couples with rising smartphone applications that can be connected with wearable devices has propelled growth in the wearable devices market value. Data Bridge Market Research analyses that the wearable devices market will exhibit a CAGR of around 18.78% for the forecast period of 2021-2028.
Wearable devices refer to all those fashion wearable, electronic wearable, and smart devices that are worn close to or over the skin. Wearable technology that is worn by consumers provides necessary health and fitness information. The wearable devices are manufactured using microprocessors and can easily send, receive and track the desired information. These are equipped with sensors and Bluetooth that help to keep a track of distance, speed, stamina, breathing, blood pressure, cholesterol, heart rate, calories, and altitude among others.
Ease to use, convenient handling, providing real-time data information and flexible operational efficiency are the major highlights of wearable devices. This has led to the rise in demand for wearable devices around the globe. The growing popularity of the internet of things coupled with rising technological advancements in the smart electronic field has created lucrative market growth opportunities for the wearable devices market. Rising consumer awareness to shift to physical fitness activities has also propelled a significant rise in the wearable devices market growth rate. Rising disposable income and rising research and development proficiencies on the technology involved in sensors are some other indirect market growth determinants.
However, limited battery life will pose a major challenge to the expansion of the wearable devices market. Also, security-related concerns and data privacy concerns will obstruct the way of wearable devices market growth. The high cost of manufacturing and fluctuations in the prices of raw materials will also derail the wearable devices 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.
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 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 product, the wearable devices market is segmented into wrist-wear, eyewear, footwear, neckwear, body wear and others.
- On the basis of type, the wearable devices market is segmented into smart textile, passive, active, ultra-smart and non-textile.
- 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, product, type, industry and end users 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 in terms of market revenue and global market share. The region is expected to continue its dominance during the forecast period where in the U.S. and Canada will continue to be the major contributors. This is because of the high rate of adoption of wearable devices across countries in this region. Constant focus of major market players in this region to innovate with the products and technology is another factor fostering the growth of the market. Favourable reimbursement policies are also driving the market growth in this region. However, it is Asia-Pacific that is projected to score the highest growth rate during the forecast period. This is because of rising technological-savvy population coupled with rising personal disposable income. Availability of cheap labour and abundant raw materials is also bolstering the market growth in this region.
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
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 to 2019.
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 covered 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 other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Wearable Devices Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.