Canada Wearable Devices Market

Canada Wearable devices Market Overview:

The Canada wearable devices market size reached USD 3.90 Billion in ​2024​. Looking forward, IMARC Group expects the market to reach USD 17.37 Billion by ​2033​, exhibiting a growth rate (CAGR) of 18.05% during ​2025-2033​. The market is primarily driven by the rising consumer demand for health monitoring, growing focus on fitness and wellness, advancements in technology, and increased integration with smartphones.

Canada Wearable devices Market Trends:

Technological Advancements

The market for wearable devices is growing at a fast pace as a result of the immense technology developments, including enhanced battery life, miniaturization, and the incorporation of artificial intelligence (AI). Also, developments in battery technology, have enabled wearables to run for longer durations, thus enhancing their convenience and attractiveness for regular use. Further, AI is also making wearable devices more powerful, with personalized health tracking, predictive analysis, and features like gesture control. Apart from that, government support of technology innovation, in the form of grants, funds, and policy support, is also propelling the growth of innovative wearable technologies. This governmental support inspires R&D within the tech industry, leading to smarter and higher-performance devices. As wearable technology progresses, it gains popularity with consumers who demand increased convenience, health information, and integration into daily life. These developments make wearable devices a pillar of the expanding Internet of Things (IoT) network.

Integration with Smart Devices

Growing convergence of wearable devices with smartphones and other intelligent technologies is fueling their demand among technology-conscious consumers. In July 2024, for example, Lifeline Canada, the nation's leading medical alert services provider, introduced its latest wearable device, On the Go with Wandering. The cutting-edge GPS monitoring and alert system seeks to enhance safety and independence for older adults. The state-of-the-art mobile pendant monitors and shares the user's general location while providing an extensive personal response service that includes fall detection and around-the-clock access to lifeline personal response associates. Additionally, wearable devices can now perform a wide range of functions, from tracking fitness data and monitoring health metrics to receiving notifications. This real-time data sharing and enhanced functionality make wearables an essential part of the connected lifestyle. Additionally, wearables like smartwatches and fitness bands enable users to monitor their fitness and health targets while synchronizing the information with medical professionals or health apps. The ease of access to health information at the tip of one's fingers, as well as being able to remotely control other smart devices, greatly improves the user experience. It attracts early adopter technology people, as well as increasingly other sectors of society desiring efficient, personalized health and wellness and even daily activities.

Canada Wearable devices Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional level for 2025-2033. Our report has categorized the market based on product type, application, and end user.

Product Type Insights:

• Smart Watches
• Fitness Trackers
• Smart Glasses
• Wearable Cameras
• Wearable Medical Devices

The report has provided a detailed breakup and analysis of the market based on the product type. This includes smart watches, fitness trackers, smart glasses, wearable cameras, and wearable medical devices.

Application Insights:

• Healthcare
• Consumer Electronics
• Sports and Fitness
• Industrial Applications

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes healthcare, consumer electronics, sports and fitness, and industrial applications.

End User Insights:

• Individuals
• Enterprises
• Healthcare Providers

The report has provided a detailed breakup and analysis of the market based on the end user. This includes individuals, enterprises, and healthcare providers.

Regional Insights:

• Ontario
• Quebec
• Alberta
• British Columbia
• Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Ontario, Quebec, Alberta, British Columbia and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Canada Wearable devices Market News:

• On 9 July 2024, Roga, a neurotech and mental healthcare startup in Canada, revealed it had secured $1.2 million in pre-seed funding to facilitate the launch of their next-generation wearable device aimed at alleviating chronic stress and burnout. This funding round featured contributions from venture capital firms such as Exceptional Ventures, ODX by On Deck, Minded Ventures, and the AngelList Fund. Institutional investors like The Centre for Aging + Brain Health Innovation (CABHI) and the Ontario Brain Institute also participated, alongside angel investors, including senior executives from Samsung and Google.
• On 6 April 2023, Icentia Inc., a Canadian medtech firm based in Quebec City, announced that it has received FDA 510(k) clearance for CardioSTAT, the leading wearable cardiac monitoring solution in Canada, that utilizes a wireless, single-use recorder. The CardioSTAT recorder is a lightweight, flexible, and showerproof device designed for comfortable wear on the upper chest. It can record data for up to 14 days, boasting an impressive compliance rate of 99.9%.

Canada Wearable devices Market Report Coverage:

Key Questions Answered in This Report:

• How has the Canada wearable devices market performed so far and how will it perform in the coming years?
• What is the breakup of the Canada wearable devices market on the basis of product type?
• What is the breakup of the Canada wearable devices market on the basis of application?
• What is the breakup of the Canada wearable devices market on the basis of end user?
• What is the breakup of the Canada wearable devices market on the basis of region?
• What are the various stages in the value chain of the Canada wearable devices market? 
• What are the key driving factors and challenges in the Canada wearable devices market?
• What is the structure of the Canada wearable devices market and who are the key players?
• What is the degree of competition in the Canada wearable devices market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Canada wearable devices market from 2019-2033​.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Canada wearable devices market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Canada wearable devices industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.