The global wearable electronics market reached a volume of 134.8 Million Units in 2018. The market is further projected to reach a volume of 335.3 Million Units by 2024, exhibiting a CAGR of 16.4% during 2019-2024. Wearable electronics refer to smart devices which can be worn over the body by the users to enhance their day-to-day activities. They are integrated computing devices which enable wireless networking and mobile computing to the users.
Wearable electronics have a strong potential in any industry where hands free data collection has high value. Healthcare applications, however, represent the biggest drivers of these products. Wearable electronics enable users to efficiently monitor their health and activity. These devices can constantly measure the users vitals, quality of sleep and step count effortlessly and accurately. These devices can also monitor physiological data of patients with chronic conditions and can enable timely clinical interventions. These products can also be utilised for early detection of symptoms in a patient’s health status, enabling timely medical interventions. Other healthcare applications of wearable electronics comprise safety monitoring (to detect falls, epileptic seizures and heart problems) or life improvement, with a sensing technology used along with interactive gaming and Virtual Reality environments and augmented feedback systems. Apart from healthcare, a number of other applications are also driving the demand of wearable electronics. These products enable users to exercise more efficiently, enables them to keep their children safe, enhances personal accountability and helps individuals to be more productive at home and at the workplace.
This report provides a deep insight into the global wearable electronics market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the wearable electronics market in any manner.
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