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Global Wearable Technology Market Size, Report: By Component: Software, Service; By Type: Wrist-Wear, Eye-Wear and Head-Wear, Others; By Technology: Computing Technology, Display Technology, Others; By Application: Consumer Electronics, Healthcare, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Wearable Technology Market Outlook
The global wearable technology market reached a volume of about 289.89 million shipments in 2023. The industry is further expected to grow at a CAGR of about 17% in the forecast period of 2024-2032 to reach a value of around 1,190.24 million shipments by 2032.
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North America Leading the Wearable Technology Industry
North America is known to be one of the centres of technological development around the world. With the launch of smart gadgets, the demand for sophisticated and multi-functional devices is growing. Increasing disposable income and a high rate of adoption of the new wearable devices are key drivers for the market growth in the region. The presence of leading players including Garmin, Apple, and Fitbit also adds to the growth of the wearable technology industry. The regional market is witnessing the inflow of capital from various North American sports associations. Investments are expected to fuel the wearable technology industry in the region.
Wearable Technology: Market Segmentation
Wearable technology is, mainly, an electronic object incorporated with technology. The wearable technology can be easily worn on body to monitor real-time details. Wearable technology includes wristbands that can be worn on the wrist and helps monitor details such as pulse, heart rate, walking steps, sleeping hours, and many others. Wristbands released by Jawbone, Apple, Fitbit, and many others serve as activity trackers. This has built a large customer base across the globe. The significant customer base is due to the improvement in health brought on by wearable technology.
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Based on component, the industry can be divided into:
- Software
- Service
The type of the product can be divided as follows:
The technology can be segmented as follows:
- Computing Technology
- Display Technology
- Networking Technology
- Positioning Technology
- Sensor Technology
- Others
It finds wide applications in the following:
- Consumer Electronics
- Healthcare
- Enterprise and Industrial Application
- Others
The regional markets for wearable technology can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Use of Internet Bolstering the Market Growth
The increasing penetration of the Internet of Things (IoT) and connected devices and the increasing technically sound population are expected to drive demand. Growing concerns about obesity and other chronic diseases have led to the adoption of wearable devices, including body monitors and activity trackers, which provide real-time information on overall health. These wearable products can include information such as blood pressure, oxygen levels, sleep quality and quantity, calorie intake, cholesterol levels, pulse monitoring, and other information needed by the body for day-to-day activities. Increased popularity over the benefits of these devices among professional athletes and leisure fitness customers is expected to fuel demand for fitness and wellness products over the forecast period.
Key Industry Players in the Global Wearable Technology Market
The report gives a detailed analysis of the following key players in the global wearable technology market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Apple Inc.
- Samsung Electronics Co., Ltd.
- Fitbit, Inc.
- Xiaomi Corp
- Alphabet Inc.
- LG Electronics, Inc.
- Huawei Technologies Co., Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Type |
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| Breakup by Technology |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Wearable Technology Market Analysis
8.1 Key Industry Highlights
8.2 Global Wearable Technology Historical Market (2018-2023)
8.3 Global Wearable Technology Market Forecast (2024-2032)
8.4 Global Wearable Technology Market by Component
8.4.1 Software
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Service
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Wearable Technology Market by Type
8.5.1 Wrist-Wear
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Eye-Wear and Head-Wear
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Foot-Wear
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Neck-Wear
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Body-Wear
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Wearable Technology Market by Technology
8.6.1 Computing Technology
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Display Technology
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Networking Technology
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Positioning Technology
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Sensor Technology
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Others
8.7 Global Wearable Technology Market by Application
8.7.1 Consumer Electronics
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Healthcare
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Enterprise and Industrial Application
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Others
8.8 Global Wearable Technology Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Wearable Technology Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Wearable Technology Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Wearable Technology Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Wearable Technology Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Wearable Technology Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Apple Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Samsung Electronics Co., Ltd.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Fitbit, Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Xiaomi Corp
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Alphabet Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 LG Electronics, Inc.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Huawei Technologies Co., Ltd.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Wearable Technology Market: Key Industry Highlights, 2018 and 2032
2. Global Wearable Technology Historical Market: Breakup by Component (USD Billion), 2018-2023
3. Global Wearable Technology Market Forecast: Breakup by Component (USD Billion), 2024-2032
4. Global Wearable Technology Historical Market: Breakup by Type (USD Billion), 2018-2023
5. Global Wearable Technology Market Forecast: Breakup by Type (USD Billion), 2024-2032
6. Global Wearable Technology Historical Market: Breakup by Technology (USD Billion), 2018-2023
7. Global Wearable Technology Market Forecast: Breakup by Technology (USD Billion), 2024-2032
8. Global Wearable Technology Historical Market: Breakup by Application (USD Billion), 2018-2023
9. Global Wearable Technology Market Forecast: Breakup by Application (USD Billion), 2024-2032
10. Global Wearable Technology Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Wearable Technology Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Wearable Technology Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Wearable Technology Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Wearable Technology Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Wearable Technology Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Wearable Technology Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Wearable Technology Market Structure
Key Questions Answered in the Report
In 2023, the market attained a volume of nearly 289.89 million shipments.
The market is projected to grow at a CAGR of 17% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about 1,190.24 million shipments by 2032.
The growth of the market is driven by factors like rising disposable incomes, increased penetration of internet and smartphones, and growing technological advancements.
Rising investments and growing demand for real-time health monitoring gadgets are the key trends of the market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading components of wearable technology in the market are software and service.
The major types of wearable technology in the market are wrist-wear, eye-wear and head-wear, foot-wear, neck-wear, and body-wear, among others.
The significant technologies in the market are computing technology, display technology, networking technology, positioning technology, and sensor technology, among others.
The leading applications in the market are consumer electronics, healthcare, and enterprise and industrial application, among others.
The key players in the global wearable technology market are Apple Inc., Samsung Electronics Co., Ltd., Fitbit, Inc., Xiaomi Corp, Alphabet Inc., LG Electronics, Inc., and Huawei Technologies Co., Ltd., among others.
Analyst Review
The global wearable technology market attained a volume of 289.89 million shipments in 2023, driven by the rising penetration of internet and smartphones. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 17%. The market is projected to reach 1,190.24 million shipments by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By component, the market is bifurcated into software and service. Based on type, the industry is divided into wrist-wear, eye-wear and head-wear, foot-wear, neck-wear, and body-wear, among others. On the basis of technology, the market is segmented into computing technology, display technology, networking technology, positioning technology, and sensor technology, among others. By application, the industry is categorised into consumer electronics, healthcare, and enterprise and industrial application, among others. The major regional markets for wearable technology are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include Apple Inc., Samsung Electronics Co., Ltd., Fitbit, Inc., Xiaomi Corp, Alphabet Inc., LG Electronics, Inc., and Huawei Technologies Co., Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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