Global wearable computing market

Global wearable computing market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 20.7% during the forecast period.

Global wearable computing market

The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.

Market Definition

Wearable computing is the wearable technology used to invent, design, and build and to use tiny or small wearable computational and sensory devices. Wearable computing devices are also known as computer-powered equipment or devices which can be worn by a user, including watches, small computers, clothing, shoes, glasses, and other similar products.

Market Dynamics

The growing market for consumer electronics products and increasing production and adoption of various wearable devices like smartwatches, smart activity trackers, smart jewelry, and others is a major driving factor behind the growth of the market. An increasing number of wearable product launches in the market, rising adoption of wearable devices in military applications, growing technological advancements in recognition, communication and networking technologies for wearable devices, growing trend of miniaturization of devices and IoT based devices, a surge in the demand of wearable medical and health devices and rising adoption of AR & VR devices such as HMDs and smart glasses are expected to improve the growth of market during the forecast period. Wearable computing technology provides some benefits such as the functionality of multiple devices into a single device, enhanced communication, portability, and ease of use, which are ultimately propelling the growth of the market.

However, safety and health risks, high initial costs of wearable devices, limited battery life and high power consumption are some of the major factors that could hamper the growth of market.

Global Wearable Computing Market: Segmentation Analysis

By technology, the display technology segment dominated the market in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. Growing adoption of display technology in consumer wearable devices like smart watches, smart bands, and smart glasses is driving the growth of the market. Increasing technological advancements in display technology, high adoption of OLED microdisplay in wearable devices and increasing requirements of energy-efficient and low power consumption displays devices are expected to improve the growth of the wearable computing technology market. In addition, increasing technological advancements in VR and AR technology, thus the rising demand for head-mounted, head-up displays and devices like VR headsets are propelling the growth of the market.

By end-user, infotainment and gaming segment projected to witness fast growth at CAGR of XX% during the forecast period. Growing adoption of the infotainment and lifestyle category of wearable devices such as smart glasses, smart watches, and virtual and augmented reality headsets is propelling the growth of the market. Increasing financial investments into virtual reality headsets by leading market players such as Microsoft, Samsung, Philips Healthcare, and Sony is further propelling the growth of the market.

Global Wearable Computing Market: Regional Analysis

Region-wise, Asia Pacific held the largest market share in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. The economies such as China, Japan, India, and South Korea are the major key contributors behind the growth of the market. The growth is attributed to growing market for consumer electronics products across the region. The massive presence of consumer electronics wearable devices manufacturing companies is driving the growth of the market.

High disposable incomes of consumers, growing research and development activities in wearable computing technology and the increasing popularity of smart gadgets among users is further propelling the growth of the market in the region.

Global Wearable Computing Market: Key Development

In May 2020, Philips launched next-generation wearable biosensor for early patient deterioration detection, including clinical surveillance for COVID-19.

In Oct 2019, Sony launched new B-to-B wearable and mobile health technology platform called mSafety combining of a wristwatch, a connected wearable device, with a cloud-based backend solution to provide payers, health systems, and app developers a ready-made platform to build remote health monitoring and mobile health applications.

The objective of the report is to present a comprehensive analysis of the Global Wearable Computing Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Wearable Computing Market dynamics, structure by analyzing the market segments and projects the Global Wearable Computing Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Wearable Computing Market make the report investor’s guide.

 

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The Scope of Global Wearable Computing Market

Global Wearable Computing Market, By Technology

• Display Technologies
• Network Technologies
• Others
Global Wearable Computing Market, By Product

• Activity Monitoring Device
• Smart Clothing & Textile
• Wearable Camera
• Others
Global Wearable Computing Market, By End User

• Defense & Security
• Home Automation
• Medical & Healthcare
• Enterprise & Industrial
• Fitness & Wellness
• Infotainment
• Gaming
• Others
Global Wearable Computing Market, By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Global Wearable Computing Market, Key Players

• Nike Inc
• Pebble Technology Corporation
• Valve Corporation
• Zephyr Technology Corporation
• Samsung Electronics Co., Ltd
• Smartlife Technology Ltd
• Fitbit Inc
• Apple Inc
• Adidas AG
• LG Electronics, Inc
• Motorola Mobility Holdings, Inc
• Sony Corporation
• Philips Healthcare
• Microsoft Corporation
• Boston Scientific Corporation

 

 

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