Wearable Technology Market
Wearable Technology Market Size, Share &Trends Analysis Report by Product (Fitness, Smart Watches, Smart Glasses, Smart Clothing, and Others), by Type (Wrist Wear, Eyewear, Hearables, Bodywear, and Others), and by Application (Lifestyle, Consumer Applications, Healthcare, Fitness & Sports, and Defense) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
Wearable technology market is anticipated to grow at a significant CAGR of 12.8% during the forecast period. Wearable technologies are smart electronic devices that can be worn on consumer’s body. Wearable devices include smart watches, smart clothing, smart glasses, and fitness band. The changing lifestyle and consumer preference is driving the growth of the wearable technology market across the globe. People are upgrading their lifestyle towards modernization which increases the usage of smart wearable devices and led to the market growth. For instance, in June 2022, Noise launched its first smart eyewear i1 in India. The smart glasses deliver a unique audio experience to its users priced at Rs 5999. Noise i1 supports Bluetooth version 5.1 and claims to deliver up to 9 hours of battery backup on a single charge. The smart eyewear also supports fast charging and with 15 minutes of charge users can enjoy 120 minutes of music playback.
Segmental Outlook
The global wearable technology market is segmented based on product, type, and application. Based on the product, the market is segmented into fitness, smart watches, smart glasses, smart clothing, and others. Based on the type, the market is segmented into wrist wear, eyewear, hearables, bodywear, and others. Based on the application, the market is sub-segmented into lifestyle, consumer application, healthcare, fitness & sports, and defense. Among the product segment, smart watch sub-segment is expected to hold a prominent share in the growth of the global wearable technology market. Further, the fitness & sports sub-segment is expected to be the fastest-growing segment in the global wearable technology market during the forecast period.
The Smart Watch Sub-Segment Is Expected to Hold a Prominent Share in the Global Wearable Technology Market
The smart watch sub-segment is expected to hold a prominent share in the global wearable technology market during the forecast period. Smart watches are widely used among consumers. Major Key players are introducing smart watches with innovative features such as Bluetooth calling, sports mode, sleep tracker feature, stress monitoring, and many more which increases the demand of smart watches and led to the growth of the global wearable technology market. For instance, in June 2022, Boat expanded its smartwatch lineup with the launch of Boat Wave Connect. The smartwatch comes with Bluetooth calling functionality and offers more than 60 sports modes. It comes equipped with a SpO2 sensor and heart rate monitor.
Regional Outlooks
The global wearable technology market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the North American region is expected to hold a prominent share in the global wearable technology market during the forecast period due to the presence of key market players. Furthermore, the Asia-Pacific region is expected to be the fastest-growing region in the global wearable technology market.
Global Wearable Technology Market Growth, by Region 2022-2028
North American Region is Expected to Hold a Prominent Share in the Global Wearable Technology Market
The North American region is expected to hold a prominent share in the growth of the global wearable technology market during the forecast period due to large presence of key players. The increasing consumption of internet and smart devices in North American region is also a major factor driving the growth of the global wearable technology market. According to Pew Research Center survey conducted June 2019, roughly one-in-five US adults (21%) say they regularly wear a smart watch or wearable fitness tracker. Due to increasing usage of wearable fitness tracker and smart watches many companies are launching smart watches with fitness tracker features which increases the demand of wearable technologies and led to the growth of the global wearable technology market. For instance, in June 2022, Realme launched the Realme TechLife Watch R100 with Bluetooth calling support. The smartwatch keeps track of sleep, distance, calories, and heart rate.
Market Players Outlook
The major companies serving the global wearable technology market include Apple Inc., Fitbit International Ltd., Fossil Group, Inc., Google LLC., Huawei Technologies Co. Ltd., Xiaomi Group, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in December 2021, Huawei launched new smart glasses in China powered by Harmony OS and allows connection of two devices. The smart glass comes with music streaming and hand-free calling features.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global wearable technology market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Wearable Technology Market by Product
4.1.1. Fitness Bands
4.1.2. Smart Watches
4.1.3. Smart Glasses
4.1.4. Smart Clothing
4.1.5. Others
4.2. Global Wearable Technology Market by Type
4.2.1. Wrist Wear
4.2.2. Eyewear
4.2.3. Hearables
4.2.4. Bodywear
4.2.5. Others
4.3. Global Wearable Technology Market by Application
4.3.1. Lifestyle
4.3.2. Consumer Applications
4.3.3. Healthcare
4.3.4. Fitness & Sports
4.3.5. Defense
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Adidas AG.
6.2. Apple Inc.
6.3. Fitbit International Ltd.
6.4. Fossil Group, Inc.
6.5. Garmin Ltd.
6.6. Google LLC
6.7. Huawei Technologies Co. Ltd.
6.8. LG Electronics
6.9. Motorola Solutions, Inc.
6.10. Nike, Inc.
6.11. Samsung Electronics Co., Ltd.
6.12. Shimmer Research Ltd.
6.13. Sony Corp.
6.14. Xiaomi Group
1. GLOBAL WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2021-2028 ($ MILLION)
2. GLOBAL FITNESS BANDS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL SMART WATCHES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL SMART GLASSES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL SMART CLOTHING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL OTHER WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
8. GLOBAL WRIST WEAR MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL EYE WEAR MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL HEARABLES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL BODYWEAR MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL OTHER WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
14. GLOBAL WEARABLE TECHNOLOGY FOR LIFESTYLE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. GLOBAL WEARABLE TECHNOLOGY FOR CONSUMER APPLICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
16. GLOBAL WEARABLE TECHNOLOGY FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
17. GLOBAL WEARABLE TECHNOLOGY FORFITNESS & SPORTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
18. GLOBAL WEARABLE TECHNOLOGY FOR DEFENSE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
19. GLOBAL WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
20. NORTH AMERICAN EYELASH ENHANCING AGENTSMARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
21. NORTH AMERICAN WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2021-2028 ($ MILLION)
22. NORTH AMERICAN WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
23. NORTH AMERICAN WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
24. EUROPEAN WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
25. EUROPEAN WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2021-2028 ($ MILLION)
26. EUROPEAN WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
27. EUROPEAN WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
28. ASIA-PACIFIC WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
29. ASIA-PACIFIC WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2021-2028 ($ MILLION)
30. ASIA-PACIFIC WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
31. ASIA-PACIFIC WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
32. REST OF THE WORLD WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
33. REST OF THE WORLD WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2021-2028 ($ MILLION)
34. REST OF THE WORLD WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
35. REST OF THE WORLD WEARABLE TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
1. GLOBAL WEARABLE TECHNOLOGY MARKET SHARE BY PRODUCT, 2021 VS 2028 (%)
2. GLOBAL FITNESS BANDS MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBALSMART WATCHES MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBALSMART GLASSES MARKET SHARE BY REGION, 2021 VS 2028 (%)
5. GLOBAL SMART CLOTHING MARKET SHARE BY REGION, 2021 VS 2028 (%)
6. GLOBAL OTHER WEARABLE TECHNOLOGY MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL WEARABLE TECHNOLOGY MARKET SHARE BY TYPE, 2021 VS 2028 (%)
8. GLOBAL WRIST WEAR MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL EYEWEAR MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL HEARABLES MARKET SHARE BY REGION, 2021 VS 2028 (%)
11. GLOBAL BODYWEAR MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. GLOBAL OTHER WEARABLE TECHNOLOGY MARKET SHARE BY REGION, 2021 VS 2028 (%)
13. GLOBAL WEARABLE TECHNOLOGY MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
14. GLOBAL WEARABLE TECHNOLOGY FOR LIFESTYLE MARKET SHARE BY REGION, 2021 VS 2028 (%)
15. GLOBAL WEARABLE TECHNOLOGY FOR CONSUMER APPLICATIONS MARKET SHARE BY REGION, 2021 VS 2028 (%)
16. GLOBAL WEARABLE TECHNOLOGY FOR HEALTHCARE MARKET SHARE BY REGION, 2021 VS 2028 (%)
17. GLOBAL WEARABLE TECHNOLOGY FOR FITNESS & SPORTS MARKET SHARE BY REGION, 2021 VS 2028 (%)
18. GLOBAL WEARABLE TECHNOLOGY FOR DEFENSE MARKET SHARE BY REGION, 2021 VS 2028 (%)
19. GLOBAL WEARABLE TECHNOLOGY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
20. US WEARABLE TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
21. CANADA WEARABLE TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
22. UK WEARABLE TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
23. FRANCE WEARABLE TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
24. GERMANY WEARABLE TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
25. ITALY WEARABLE TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
26. SPAIN WEARABLE TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
27. REST OF EUROPE WEARABLE TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
28. INDIA WEARABLE TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
29. CHINA WEARABLE TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
30. JAPAN WEARABLE TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
31. SOUTH KOREA WEARABLE TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
32. REST OF ASIA-PACIFIC WEARABLE TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
33. REST OF THE WORLD WEARABLE TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
