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Wearable Technology Market Projected to Expand at a CAGR of 16.2% by 2026

The wearable technology market size was $19,633 million in 2015, and is projected to reach $57,653 million by 2022, growing at a CAGR of 16.2% from 2016 to 2022. North America is expected to be the leading contributor to the global wearable technology market, followed by Europe and Asia-Pacific.

The growth of the global wearable technology market is driven by convenient usage of wearables and entry of various smartphone manufacturers. In addition, rise in health concerns among consumers fuels the adoption of wearable devices, which enable them to provide real-time information on their overall health. Multiple benefits offered by these devices such as GPS tracking, heart monitoring, and notification alert further supplement the wearable devices market growth. Moreover, rise in disposable income of consumers and increase in standard of living propel the growth of the global wearable technology market. However, increase in security concerns is projected to hamper the market growth, as the risk of data leakage is a major issue for users. Moreover, the limited battery life and high manufacturing cost restrain the market growth. Advancement in wearable devices technology is expected to provide numerous growth opportunities for the market.

In 2015, wrist wear segment accounted for the maximum revenue shares in the overall wearable technology industry, owing to the flexibility provided by wearables. Moreover, wearables can be used to monitor heart rate and blood pressure, thus reducing the hospital bills. In addition, rise in demand for wearable devices from North American and European countries is expected to have a positive impact on the market growth, as these regions have strong economic base. The smartwatch segment is expected to witness the fastest growth, registering a CAGR of 19.9%. Technological advancements in wearable electronics such as introduction of smart rings, innovative body wear, baby monitors, and others are anticipated to provide growth opportunities for the market.

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The fitness & sports segment dominated the wearable technology market with over 39% share in 2015, and is projected to maintain this trend throughout the forecast period. However, Entertainment sector is anticipated to grow at a highest CAGR of 35.7% during the forecast period. The growth of the consumer application is expected to be driven by increase in awareness of wearables and innovative features & benefits provided by the wearable product manufacturers.

North America accounted for the major share of the global wearable technology industry in 2015, and is expected to maintain its dominance during the forecast period, owing to rise in demand for convenient wearables. Asia-Pacific is estimated to grow at the highest rate due to increase in the adoption of technologically advanced products; growth in demand for smart wearables; and extensive economic growth in developing countries such as China and India.

Key findings of the Wearable Technology Market

  • In 2015, the wrist wear segment accounted for the maximum revenue, and is projected to grow at a notable CAGR of 16.6% during the forecast period.
  • North America held the highest market share in 2015, and is anticipated to dominate the global wearable technology market throughout the forecast period.
  • China is the major shareholder in the Asia-Pacific wearable technology market, accounting for more than 34% share in 2015.

The key players profiled in the wearable technology industry include Apple Inc., Fitbit, Inc., Garmin Ltd., Adidas AG., Nike, Inc., Samsung Electronics Co., Ltd., Sony Corporation, Huawei Technologies Co., Ltd., LG Electronics Inc., and Motorola Solutions Inc. These players have adopted various strategies such as product launch, collaboration & partnership, and acquisition to expand their foothold in the wearable technology market. Apple introduced Apple Watch Nike+, which is an important tool for runners, pairing exclusive Nike Sport Bands with Apple Watch Series 2, which features GPS, a two times brighter display, water resistance up to 50 m, a powerful dual-core processor, and watchOS 3. The introduction of technologically advanced products is likely to gain acceptance among the tech savvy people, specifically in developed regions of North America and Europe.

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Comprehensive Report on Wearable Technology Market 2020 | Size, Growth, Demand, Opportunities & Forecast To 2026 | Nike Inc., Garmin Ltd., Fitbit, Inc., Polar Electro

Wearable Technology Market research report is the new statistical data source added by A2Z Market Research.

“Wearable Technology Market is growing at a High CAGR during the forecast period 2020-2026. The increasing interest of the individuals in this industry is that the major reason for the expansion of this market”.

Wearable Technology Market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.

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Top Key Players Profiled in this report are: 

Nike Inc., Garmin Ltd., Fitbit, Inc., Polar Electro, Inc., Google Inc., TAG Heuer, LG Electronics Inc., Sony Corporation, Misfit, Michael Kors, Moov Inc., Jawbone, Apple Inc., Whoop, Fossil Group, Inc., Huawei Technologies Co., Ltd., Casio Electronics Co. Ltd., Xiaomi Inc., Pebble Technology Corp., Samsung Electronics Co., Ltd., Adidas AG., Tom Tom, ASUSTeK Computer Inc., Motorola Solutions Inc., Withings SA

The key questions answered in this report:

  1. What will be the Market Size and Growth Rate in the forecast year?
  2. What are the Key Factors driving Wearable Technology Market?
  3. What are the Risks and Challenges in front of the market?
  4. Who are the Key Vendors in Wearable Technology Market?
  5. What are the Trending Factors influencing the market shares?
  6. What are the Key Outcomes of Porter’s five forces model?
  7. Which are the Global Opportunities for Expanding the Wearable Technology Market?

Various factors are responsible for the market’s growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Wearable Technology market. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitute, and the degree of competition prevailing in the market. The influence of the latest government guidelines is also analyzed in detail in the report. It studies the Wearable Technology market’s trajectory between forecast periods.

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Global Wearable Technology Market Segmentation:

Market Segmentation by Type:

Smart watches
Smart glasses
Fitness & wellness devices
Smart clothing
Others

Market Segmentation by Application:

Fitness
Health and Wellness
Healthcare and Medicals

Regions Covered in the Global Wearable Technology Market Report 2020:
• The Middle East and Africa (GCC Countries and Egypt)
• North America (the United States, Mexico, and Canada)
• South America (Brazil etc.)
• Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
• Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)

The cost analysis of the Global Wearable Technology Market has been performed while keeping in view manufacturing expenses, labor cost, and raw materials and their market concentration rate, suppliers, and price trend. Other factors such as Supply chain, downstream buyers, and sourcing strategy have been assessed to provide a complete and in-depth view of the market. Buyers of the report will also be exposed to a study on market positioning with factors such as target client, brand strategy, and price strategy taken into consideration.

The report provides insights on the following pointers:

  1. Market Penetration: Comprehensive information on the product portfolios of the top players in the Wearable Technology market.
  2. Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market.
  3. Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market.
  4. Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.
  5. Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Wearable Technology market.

Table of Contents

Global Wearable Technology Market Research Report 2020 – 2026

Chapter 1 Wearable Technology Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 Global Wearable Technology Market Forecast

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Wearable Technology Market Size 2020 By Product Types, End-Users, Regional Outlook, Growth, Trends And Forecast To 2027 | Market Research Intellect

New Jersey, United States,- The Wearable Technology Market Size And Forecast to 2027

The Wearable Technology Market report entails a comprehensive database on future market estimation based on historical data analysis. It enables the clients with quantified data for current market perusal. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and regional analysis. Listed out are key players, major collaborations, merger & acquisitions along with upcoming and trending innovation. Business policies are reviewed from the techno-commercial perspective demonstrating better results. The report contains granular information & analysis pertaining to the Wearable Technology Market size, share, growth, trends, segment and forecasts from 2020-2027.

With an all-round approach for data accumulation, the market scenarios comprise major players, cost and pricing operating in the specific geography/ies. Statistical surveying used are SWOT analysis, PESTLE analysis, predictive analysis, and real-time analytics. Graphs are clearly used to support the data format for clear understanding of facts and figures.

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The report provides a comprehensive analysis of the major market players in the market along with their business overview, expansion plans, and strategies. The main players examined in the report are:

  • Fitbit
  • Apple
  • Xiaomi Technology
  • Garmin
  • Samsung Electronics
  • Alphabet
  • LG Electronics
  • Qualcomm Technologies
  • Sony
  • Jawbone
  • Misfit
  • Guangdong Bbk Electronics
  • Lifesense Group

In Market Segmentation by Wearable Technology Types, the report includes:

  • Software
  • Services
  • Cloud and Data Analytics

When segmenting the market by application of Wearable Technology, the report covers the following uses:

  • Consumer Electronics
  • Healthcare
  • Enterprise and Industrial
  • Others

Furthermore, the report includes the growth rate of the global market, consumption tables, facts, figures, and statistics of key segments.

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By Regions:

  • North America (The US, Canada, and Mexico)
  • Europe (Germany, France, the UK, and Rest of the World)
  • Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
  • Latin America (Brazil and Rest of Latin America.)
  • Middle East & Africa (Saudi Arabia, the UAE, , South Africa, and Rest of Middle East & Africa)

Years Considered to Estimate the Market Size:

History Year: 2015-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year: 2020-2027

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Important Facts about Wearable Technology Market Report:

  • This research report encompasses Wearable Technology Market overview, market share, demand and supply ratio, supply chain analysis, and import/export details.
  • The report has different approaches and procedures endorsed by Key Market players that enable efficient business decisions.
  • The report offers information such as production value, strategies adopted by market players and products/services they provide.

What Our Report Offers:

  • Market share valuations of the segments on country and global level
  • Share analysis of the major market players
  • Opportunities for new market entrants
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  • Market Trends (drivers, restraints, opportunities, threats, challenges, investment opportunities, and approvals)
  • Strategic endorsements in key business segments on the basis of market valuations
  • Competitive scenario mapping the key development patterns.
  • Company profiling with comprehensive strategies, financial details, and recent progressions.
  • Supply chain trends representing the latest technological advancements.

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Wearable Technology Market 2020 Global Industry Key Players, Share, Trend, Segmentation and Forecast to 2022

Wearable Technology Market Research Report Information By Product (Wristwear, Headwear & Eyewear, Neckwear, Wearable Cameras), Technology (Computing, Display, Networking, Sensor), Components (Control, Memory, Battery, Sensing, Connectivity), Applications (Fitness & Wellness, Consumer Electronics, Healthcare) and Region – Forecast to 2022

The global wearable technology market is projected to touch USD 50 billion at a 16% CAGR over the forecast period (2016-2022), reveals the latest Market Research Future (MRFR) report. Wearable technology comprises of electronic devices that can be implanted in the body, embedded in clothing, or worn as accessories. Different types of wearable devices are available in the market, including fitness trackers, smart watches, sports watches, head-mounted display, smart clothing, smart jewelry, and implantables. These devices are hands-free and have motion sensors, which take a snapshot of people’s daily activity and sync it with a laptop or mobile devices.

From consumer applications, fitness, healthcare, sports, defense and military, to lifestyle, wearable technology has gained immense recognition. Wearable technology is already enhancing the overall lifestyle of millions across the world. Encouraging proactive healthcare, keeping patients engaged, monitoring vulnerable patients, and improving communication and productivity are some of the key benefits that have made wearable technology so popular.

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Various factors are driving the growth of the wearable technology market. These factors, in accordance with the Market Research Future (MRFR) report, include a shift towards fitness-consciousness, changing consumer lifestyles, need for advanced technology for security applications and healthcare, and various benefits such as convenience, flexibility, ease of use, operational efficiency, fitness tracking, and real-time data monitoring. Additional factors propelling the market growth include the increasing popularity of smartphones, mobile networks, mobile applications, computing, and broadband connectivity.

On the contrary, high price, durability, limited battery life, and data security issues are factors that may restrict the wearable technology market growth over the forecast period.

Market Segmentation

The Market Research Future report offers a wide segmental analysis of the wearable technology market based on technology, product, application, and components.

Based on product, the wearable technology market is segmented into smart clothing, implants, neckwear (smart jewelry), wearable cameras, wristwear (smartwatch and fitness trackers), and eyewear and headwear (virtual reality and augmented reality). Of these, the wristwear segment will have the largest share in the market over the forecast period.

By technology, the wearable technology market is segmented into display technologies, sensor technologies, computer technologies, and networking technologies.

Based on components, the wearable technology market is segmented into sensing, memory, battery, and control.

By application, the wearable technology market is segmented into defense, consumer electronics, industrial and enterprise applications, fitness and wellness, and healthcare. Of these, the fitness and wellness segment will dominate the market over the forecast period.

Regional Analysis

Based on the region, the wearable technology market report covers growth opportunities and the latest trends across the Asia Pacific, North America, Europe, and Rest of the World. Of these, North America will dominate the market over the forecast period. This is owing to higher health concerns, IT modernization, various technological developments, and awareness of product usage.

The wearable technology market in Europe is predicted to have a steady and considerable growth over the forecast period.

The wearable technology market in the Asia Pacific region is predicted to have favorable growth over the forecast period. This is owing to rising tech-savvy population and increasing awareness about the benefits of wearable technology. China along with India are the key contributors in this region due to the increasing use of smartphones and rise in internet mobility.

Key Players

Leading players profiled in the global wearable technology market report include Adidas AG (Germany), Xiaomi Inc (China), Apple Inc (US), Google Inc (US), Garmin Ltd (US), Qualcomm Technologies, Inc (US), Fitbit (US), Jawbone (US), Samsung Electronics Co, Ltd (South Korea), Sony Corporation (Japan), Nike, Inc (US), Lifesense Group (The Netherlands), and Misfit Inc. (US).

June 2019- Researchers at the University of Bristol have created soft, wearable rehabilitative devices which can assist disabled and elderly people to move with safety and comfort. They are made of electroactive gel materials that are 3D-printable, and soft yet strong pneumatic chains which will change shape as it is inflated and at the same time will also exert considerable force.

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Wearable Technology Market Booming Demand Leading To Exponential Cagr Growth By 2025 | Fitbit, Apple, Xiaomi Technology, Garmin, Samsung Electronics, Alphabet

Global Wearable Technology Market research report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share, and contact information are shared in this report analysis.

The Wearable Technology Market was valued at USD 27.91 billion in 2019 and is expected to reach USD 74.03 billion by 2025, at a CAGR of 17.65% over the forecast period 2020 – 2025.

Top Companies in the Global Wearable Technology Market:
Fitbit, Apple, Xiaomi Technology, Garmin, Samsung Electronics, Alphabet, LG Electronics, Qualcomm Technologies, Sony, Jawbone, Misfit, Guangdong Bbk Electronics, Lifesense Group

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The wearable technology has evolved owing to the emergence of MEMS sensors. Incorporating these sensors into a dedicated wearable device driven by the impact of smartphones being used daily, on the GPS, or the IMU (consist of accelerometer, gyroscope, and magnetometer). These have helped the fitness tracking wearable to monitor body activities using these sensors.
The smartwatch category is also experiencing a rise, owing to the additional features, like the brand that suits the everyday lifestyle. Strong brands, such as Apple and Fossil, are keeping the pricing consistent with the price bands of traditional watches, to maintain their revenues. With Google’s WearOS, many other premium watchmakers, such as TAG and Armani, have entered the segment. For instance, according to Cisco Systems, the global number of connected wearable devices is expected to reach 1,105 million by 2022, from 593 million in 2018.

Investigator Observers Strong Growth in Specific Regions:

For a comprehensive understanding of market dynamics, the Global Wearable Technology Market is analyzed across key geographies namely North America, Europe, China, Japan, Southeast Asia, India, Central & South America. Each of these regions is analyzed on the basis of market findings across major countries in these regions for a macro-level understanding of the market.

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Wearable Technology Market Report Highlights:

– The report provides a detailed analysis of current and future market trends to identify the investment opportunities market forecasts until 2026.

– Key Wearable Technology Market trends across the business segments, regions and countries

– Key developments and strategies observed in the market

– In-depth company profiles of key players and upcoming prominent players

– Key market dynamics such as drivers, restraints, opportunities and other trends

– Market opportunities and recommendations for new investments

The report has 150 tables and figures browse the report description and TOC:

https://www.marketinsightsreports.com/reports/10192357899/wearable-technology-market-growth-trends-and-forecasts-2020-2025?mode=51

Following inquiries are answered in the report – Global Wearable Technology Market 2020

– Overall Review of Wearable Technology market conveys customers and organizations making procedures?

– Persuasive variables that are flourishing interest and limitations in the market?

– What is the market focus? Is it divided or exceedingly thought?

– What patterns, difficulties, and boundaries will affect the improvement and estimating of Wearable Technology market?

– What Wearable Technology development energy or quickening market conveys the estimated forecast?

– Which countries will tap the most astounding share of the overall Wearable Technology industry in the future?

– What Wearable Technology Application/end-client classification or Item Compose may see incremental development prospects?

– What might size overall Wearable Technology industry of crucial nations and so on?

– What centered approach and Wearable Technology imperatives are holding the market tight?

The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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