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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 20.25% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
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.
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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.
IMARC Group provides an analysis of the key trends in each sub-segment of the global wearable electronics market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on product, component and application.
Breakup by Product:
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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:
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.
Breakup by Application:
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:
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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.
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.
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.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion, Million Units |
| Segment Coverage | Product, Component, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | 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 |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global wearable electronics market was valued at US$ 97.7 Billion in 2021.
We expect the global wearable electronics market to exhibit a CAGR of 20.25% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic has led to the growing demand for wearable electronics for efficiently tracking vitals and diagnosing early symptoms of the coronavirus infection, thereby enabling timely medical intervention.
The increasing penetration of IoT-based devices, along with the rising demand for wearable electronics in the healthcare sector to record physiological data of patients suffering from various chronic conditions, is primarily driving the global wearable electronics market.
Based on the product, the global wearable electronics market has been segmented into smart bands, smart watches, smart clothing, smart glasses, and Head Mounted Displays (HMD). Among these, smart watches currently hold the majority of the total market share.
Based on the application, the global wearable electronics market can be divided into healthcare applications, consumer applications, sports and fitness applications, industrial and commercial applications, and others. Currently, consumer applications exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global wearable electronics market include 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.
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