According to the latest report of the IMARC group, entitled “wearable technology market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global wearable technology market size reached US$49.3 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$110.8 billion by 2027 , showing a growth rate (CAGR) of 13.6% during the period 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists, and anyone planning to enter the market in any form.
Wearable technology represents a category of electronic devices designed with advanced technological solutions that can be worn as accessories, integrated into clothing or implanted in the user’s body. They are available in many types of products, such as bracelets, shoes, glasses, ties, etc. These wearable technology devices are hands-free gadgets powered by microprocessors and enhanced with the ability to send and receive data over the Internet. They track biometric information in real time and provide immediate biological feedback to the wearer. Therefore, instruments based on wearable technology find wide applications in several industries including consumer electronics, health, fitness and wellness, defense, etc.
Discover what’s new in the wearable technology market:
Expanding healthcare industry across the globe and growing consumer preferences for sleek and compact health and fitness devices are mainly driving the wearable technology market. Additionally, the increasing use of technology to monitor critical care patients and as early warning systems for viral infections acts as another important growth driver.
Is wearable technology popular?
Moreover, the development of innovative products integrated with Internet of Things (IoT), Artificial Intelligence (AI) and Virtual Reality (VR) are also positively influencing the growth of the market. Apart from this, the growing focus of major manufacturers on producing next-generation displays and miniaturized sensors and increasing usage of the products by professional athletes and fitness enthusiasts are expected to drive the wearable technology market in the years to come.
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Competitive Analysis and Segmentation of the Global Wearable Technology Market 2022-2027:
List of Key Companies covered in this Wearable Technology Market Report:
- Alphabet Inc.
- Apple Inc.
- Garmin Ltd.
- HTC Company
- Huawei Technologies Co.Ltd
- intel company
- Microsoft Corporation
- Qualcomm Incorporated
- Samsung Electronics Co.Ltd.
- Sony Company
Market Segmentation for Wearable Technology Market:
Based on product:
- Glasses and headgear
Based on the application:
- Consumer electronics
- Health care
- Enterprise and industrial application
- 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
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Main highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market trends
- Market drivers and success factors
- Impact of COVID-19
- Value chain analysis
- Complete mapping of the competitive landscape
If you need specific business requirements, you can mention them. We can customize the report according to the specific needs of the client.
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