Global Wearable Electronics Market Overview:
The latest report by IMARC Group, titled “Wearable Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022- 2027”, offers a comprehensive analysis of the industry, which comprises insights on the Wearable Electronics Market Report. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global wearable electronics market size reached US$ 97.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 294.2 Billion by 2027, exhibiting a growth rate (CAGR) of 20.2% during 2022-2027. Wearable electronics are smart devices that are worn by the users on clothing or their bodies as accessories or implants for tracking information on a real-time basis. These devices enable the exchange of data through the internet in a convenient manner without the requirement of human intervention. They consist of motion sensors that record day to day activities of users and sync them with mobile devices or computers. These electronic devices offer enhanced convenience to the users within everyday functionality, owing to which they are gaining widespread preference on a global level.
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Global Wearable Electronics Market Trends:
The global market is primarily driven by a significant increase in the uptake of smartphones and the growing internet penetration across the globe, especially in developing economies. Additionally, the increasing incidences of lifestyle diseases have led a majority of the population to incorporate healthy lifestyle choices. Consequently, they are increasingly participating in physical activities, such as walking, running or swimming. This has boosted the sales of smart wearables as they are used to count steps, monitor the quality of sleep and calculate the heart rate of users during workout sessions.
Moreover, these devices are now being utilized in the healthcare sector to record physiological data of patients suffering from chronic conditions. Furthermore, extensive research and development (R&D) activities undertaken by manufacturers have resulted in the introduction of advanced variants in the market, thereby creating a positive outlook for the market. For instance, OrCam, a company based in Israel, launched MyEye 2.0, which is designed for both blind and visually impaired users and employs artificial vision technology to assist them in reading texts and recognizing objects.
Global Wearable Electronics Market 2023-2028 Analysis and Segmentation:
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Sierra Wireless SA
- BAE Systems
- Carre Technologies
- LG Electronics
The competitive landscape of the market has also been examined with some of the key players being NuMetrex Adidas, Apple Inc., BAE Systems plc, CARRÉ TECHNOLOGIES INC., Fitbit Service, Garmin Ltd., Google LLC, Aliph Brands LLC, Kopin Corporation, LG Electronics, OHMATEX A/S, OMsignal, Nike, Inc., Recon Instruments Inc., Rockwell Collins, Samsung Electronics, Seiko Epson Corporation, Sony Corporation and Vuzix Corporation.
Key Market Segmentation:
Our report has categorized the market based on product, component and application.
- Smart Bands
- Smart Watches
- Smart Clothing
- Smart Glasses
- Head Mounted Displays (HMD)
Based on the product, smart watches currently represent the biggest category in the market. Other products include smart bands, smart clothing, smart glasses and head mounted displays (HMD).
Breakup by Component:
- Networking and Positioning Components
- Power Supply Components
- Sensing Components
- Optoelectronic and Display Components
- Control Components
- Interface Components
Based on the component, the market has been segmented as networking and positioning components, power supply components, sensing components, optoelectronic and display components, control components and interface components.
- Healthcare Applications
- Consumer Applications
- Sports and Fitness Applications
- Industrial and Commercial Applications
Based on the application, the market has been segmented as healthcare applications, consumer applications, sports and fitness applications, industrial and commercial applications, and others.
Breakup by Region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, North America is the leading market, accounting for the majority of the global share.
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
|Base Year of the Analysis
|US$ Billion, Million Units
|Product, Component, Application, Region
|Asia Pacific, Europe, North America, Latin America, Middle East and Africa
|NuMetrex Adidas, Apple Inc., BAE Systems plc, CARRÉ TECHNOLOGIES INC., Fitbit Service, Garmin Ltd., Google LLC, Aliph Brands LLC, Kopin Corporation, LG Electronics, OHMATEX A/S, OMsignal, Nike, Inc., Recon Instruments Inc., Rockwell Collins, Samsung Electronics, Seiko Epson Corporation, Sony Corporation and Vuzix Corporation
|10% Free Customization
|Report Price and Purchase Option
|Single User License: US$ 2499
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Corporate License: US$ 4499
|Post-Sale Analyst Support
|PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
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