Wearable Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Wearable Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A3843
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Market Overview 2022-2027:

The global wearable technology market size reached US$ 49.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 110.8 Billion by 2027, exhibiting a growth rate (CAGR) of 13.6% 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 industries. These insights are included in the report as a major market contributor.

Wearable technology is an advanced technological solution used in electronic devices, or gadgets, that can be comfortably worn on the body to track real-time biometric information. These devices can also be embedded into the clothing or implanted in the user’s body. Some of the commonly used devices integrated with wearable technology include smartwatches, head-mounted displays, smart jewelry, implantable devices and fitness trackers that enable the wearer to track pulse rate, heart rate, steps and sleep hours. These gadgets are hands-free and use microprocessors and sensors to receive and track information in real-time.

 

 
 

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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Global Wearable Technology Market Trends:

Significant growth in the healthcare industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, increasing consumer preference for sleek and compact health and fitness devices is providing a thrust to the market growth. They are used for monitoring the patients under intensive care and as prompt warning systems for the virus infection. Additionally, various product innovations, such as the integration of connected devices with the Internet of Things (IoT), artificial intelligence (AI) and virtual reality (VR), are acting as other growth-inducing factors. Product manufacturers are also developing next-generation displays and miniaturized sensors, which are used in head-mounted displays for high-end gaming and virtual and mixed reality experiences. Other factors, including rising expenditure capacities of the consumers, along with the widespread adoption of wearable devices among professional athletes and recreational fitness enthusiasts, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global wearable technology market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product and application.

Breakup by Product:

 

 
 

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  • Wrist-Wear
  • Eye-Wear and Head-Wear
  • Foot-Wear
  • Neck-Wear
  • Body-Wear
  • Others
     

Breakup by Application:

  • Consumer Electronics
  • Healthcare
  • Enterprise and Industrial Application
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Alphabet Inc, Apple Inc., Garmin Ltd., HTC Corporation, Huawei Technologies Co. Ltd, Intel Corporation, Microsoft Corporation, Qualcomm Incorporated, Samsung Electronics Co. Ltd. and Sony Corporation.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Product, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Alphabet Inc, Apple Inc., Garmin Ltd., HTC Corporation, Huawei Technologies Co. Ltd, Intel Corporation, Microsoft Corporation, Qualcomm Incorporated, Samsung Electronics Co. Ltd. and Sony 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)

 

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Wearable Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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