The global wearable computing devices market size reached US$ 54.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 162.6 Billion by 2028, exhibiting a growth rate (CAGR) of 17.3% during 2023-2028.
Wearable computing devices comprise watches, strips, hats, exoskeletons, vests, shirts, bags, and head-up displays (HUDs) that are worn on the body to monitor calories burnt, sleeping pattern and heart rate of the user. These devices have microchips, wireless communication capabilities, and various sensors for collecting data and enhancing the overall user experience. They also enable the wearer to take calls, browse different internet applications, and read emails and text messages. Besides this, as they offer flexibility, portability, and hands-free use, the demand for wearable computing devices is escalating across the globe.
Wearable Computing Devices Market Trends:
Rising digitalization across the globe represents one of the key factors propelling the growth of the market. Moreover, wearable computing devices can provide remote assistance and expertise to field workers through digital data, audio, and image. These devices are utilized by sports personnel for activity tracking, goal monitoring, direction, data and location sharing, and optimum performance management. Besides this, wearable computing devices, such as biosensors, fitness trackers, smart health watches, electrocardiography (ECG) and blood pressure monitors, find extensive application in the healthcare industry. They offer a convenient and noninvasive alternative to medical care in clinical settings and enable remote health monitoring of patients. This, coupled with the increasing geriatric population, is positively influencing the market. Apart from this, there is a significant rise in the use of wearable smart glasses in the education sector, which aid in telemonitoring, documentation of lectures, preparing an on-site report, capturing essential points as images, and evaluating student concentration. Furthermore, the rapid expansion of information and communications technology (ICT) is projected to stimulate the growth of the market in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global wearable computing devices market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, connectivity type and application.
Breakup by Product Type:
- Smart Watches
- Head Mounted Displays
- Smart Clothing
- Ear Worn
- Fitness Trackers
- Body Worn Camera
Breakup by Connectivity Type:
Breakup by Application:
- Fitness and Wellness
- Medical and Healthcare
- Industrial and Defense
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Apple Inc., Ekso Bionics Holdings Inc., Fossil Group Inc., Garmin Ltd., GoPro Inc., Huawei Technologies Co. Ltd., LG Electronics Inc., OMRON Corporation, Samsung Electronics Co. Ltd., Sony Corporation and Transcend Information Inc.
|Base Year of the Analysis
||Product Type, Connectivity Type, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Apple Inc., Ekso Bionics Holdings Inc., Fossil Group Inc., Garmin Ltd., GoPro Inc., Huawei Technologies Co. Ltd., LG Electronics Inc., OMRON Corporation, Samsung Electronics Co. Ltd., Sony Corporation and Transcend Information Inc.
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