Wearable Technology Market Research Report- Forecast 2027

Wearable Technology Market Research Report Information By Product (Wristwear, Headwear & Eyewear, Neckwear, Wearable Cameras), Technology (Computing, Display, Networking, Sensor), Components (Control, Memory, Battery, Sensing, Connectivity), Applications (Fitness & Wellness, Consumer Electronics, Healthcare) and Region – Forecast to 2027

ID: MRFR/SEM/1720-HCR | February, 2021 | Region : Global

MARKET OVERVIEW

Wearables are electronic technology that is incorporated with items and can be comfortably worn on the body. These gadgets are accessories or a part of clothing. These gadgets use sensors and can track information on a real-time basis. The increase in demand for smartphones, mobile networks, mobile applications, computing broadband connectivity, and others are the main rising factor of wearable technology market value.


The wearable technology market creates new opportunities in the life of people.  The development of niche markets, fewer competitors, low barriers, and no standard devices will boost the wearable technology market size by the forecast period. As wearable devices being still in the development phase and their usability in the market is a major issue in wearable technology. Globally the market is expected to grow at USD 50 billion by 2022 at 16% of CAGR from 2016 to 2022.


COVID 19 ANALYSIS
In 2020, COVID 19 pandemic is anticipated to hugely impact the market size. The outbreak of this crisis has expanded the major role of the wearable technology industry in the healthcare field. Some key players operating in this industry but relation to other sectors eagerly enter the landscape of the healthcare unit to be used as an alert system for virus protection. It is an unprecedented emergency for health that has affected various industries and also its leisure facilities. Some of the industries have stronger defenses while the rest is struggling to return to its redefined and reshaped stage. It has affected the steep inroads thus destroying the economy of many wearable technology companies.


The majority of the leading countries are forced to lock down for controlling the outbreak. This has led to a huge disruption in wearable technology companies' supply chains. Government-issued guidelines like the working place should be safe and he also takes structural and administrative measures and human policies that should be carried out in the workplace. It also provides timely recommendations and regulatory guidance in response to the situation. A Public Health Emergency Declaration was renewed and was passed.

Wearable Technology Market
Wearable Technology Market



MARKET ANALYSIS


DRIVERS
The adoption of miniaturized sensors is an innovation in the medical and automotive sectors. Increasing its popularity among the population, like athletes and recreational activities is expected to drive its beneficial demand for fitness and wellness activities.  Increasing social awareness during the COVID period and various benefits of electronics during this period increases the wearable technology market size.


CHALLENGES - privacy concern puts a challenge on the growth of revenue in the next upcoming years.


OPPORTUNITIES - these current market dynamics will help the stakeholders adapt and align as per the tactics of the market.


RESTRAINTS- low battery life, miniaturization and integration and the more initial cost of the wearable technology industry decline the growth of the industry. Variation of the supply of raw materials is a great restraining factor in the industry.


CUMULATIVE GROWTH- a rapid increase in disposable income and smartphone penetration is expected to increase the wearable technology market value.


SEGMENT OVERVIEW


TYPE- from wearable technology industry analysis it was seen that it was segmented into product, technology, components, and applications. The product includes wristwear, eyewear, headwear, smart clothing, etc. the wristwear market for more revenue 45% share. The wearable technology industry overview shows that the smartwatches segment shows the fastest growth registering a CAGR of 19.9%.


TECHNOLOGY- it is an emerging trend that integrates cutting-edge technology with day-to-day activities. It fits with the changing and active lifestyles. This market brings competitive intelligence, product innovations, etc. as per technology the wearable devices market is of computing, networking, display, and sensor.


SERVICE- these are gaining traction by accepting smart assistants.


VALUE CHAIN ANALYSIS

 

The advanced technology has led to the innovation of mini computers which facilitate the users to use the internet. It showed great interest in the supply chain collaboration. The supply chain strengthens the relationship between continuance intention to use smart technology. Using supply chain activities communicate among the members rapidly.


REGIONAL ANALYSIS

The regional analysis of wearable gadgets for geographical regions that cover the wearable technology market share in the Asia Pacific, North America, Europe, and some other rest parts. It has been marked that North America plays a great dominant role in the marketing sector which owes to factors like health concerns and awareness of the usage of products. Steady and considerable growth of the industry took place, especially in Europe. Asia Pacific market shows expected positive growth during the forecast period which owes to factors like rising awareness like rising tech-savvy population and increases in awareness. China and India, the Asia Pacific countries, resemble the hike in technology during this forecast period.


COMPETITIVE LANDSCAPE


The leading players for the growth of the wearable technology market are Adidas AG(Germany),  Xiaomi Inc(China), Apple Inc(US), Google Inc (US), Garmin Ltd(U.S.), Fitbit (US), Jawbone(US), Samsung Electronics Co(Ltd), Sony Corporation (Japan), Nike Inc(US), etc.   Competitive landscape offers a detailed study about the product portfolio of the wearable technology market share, business overview report, key developments, and business strategies of the players operating in the marketing industry.


REPORT OVERVIEW


From the wearable technology industry overview, it was analyzed that the market structure along with forecasts of various segments of the wearable market. You will also mark the insights about the factors affecting the market growth based on porter’s five force analysis. You will also mark the historical significance and forecast revenue in countries like North America, Europe, Asia, and many rest places. It provides a future perspective of the country-level market size.


As per wearable technology market analysis, you will find analysis about the market scenario, market value prediction, latest trends, key drivers, potential challenges, and also about the overall market environment. Globally the wearable technology industry report provides an appropriate combination of perceptible perceptions and qualitative research. The research study will help to create a panorama of features of industrial manufacturing and its expansion. Globally the wearable gadgets market report provides coronavirus impact analysis to overcome the impact of the pandemic.


RECENT DEVELOPMENTS


The huge availability of smart devices in the wearable technology market is like tablets, smart devices, etc. Nowadays the end-users wish to have a single compact product that will combine the monitoring and computing requirements.


According to the wearable technology market trends, the latest innovation in wearable gadgets is that the Bon Bouton device has graphene sensors that monitor your skin's physiological signal. The data so collected is used to predict potential injuries, detect infection and monitor muscular activity.


The wearable technology industry features even monitor your sleeping habits, track your heart rates, record blood sugar level and let your doctor understand your health.


It is believed that due to the development of the latest wearable technology, improvement in patient care was marked and patient's rehabilitation outside the hospital was seen. It also has the potential for accurately gathering and personalizing patient data that could inform treatment planning.


They are often used in sports as it is used to monitor athletic training, in-game performance, and recovery after your injury.

TABLE OF CONTENTS

1 MARKET INTRODUCTION

1.1 INTRODUCTION

1.2 SCOPE OF STUDY

1.2.1 RESEARCH OBJECTIVE

1.2.2 ASSUMPTIONS

1.2.3 LIMITATIONS

1.3 MARKET STRUCTURE

2 RESEARCH METHODOLOGY

2.1 RESEARCH NETWORK SOLUTION

2.2 PRIMARY RESEARCH

2.3 SECONDARY RESEARCH

2.4 FORECAST MODEL

2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST

2.4.2 MARKET SIZE ESTIMATION

3 MARKET DYNAMICS

3.1 INTRODUCTION

3.2 MARKET DRIVERS

3.3 MARKET CHALLENGES

3.4 MARKET OPPORTUNITIES

3.5 MARKET RESTRAINTS

4 EXECUTIVE SUMMARY

5. MARKET FACTOR ANALYSIS

5.1 PORTER’S FIVE FORCES ANALYSIS

5.2 SUPPLY CHAIN ANALYSIS

6 WEARABLE TECHNOLOGY MARKET, BY SEGMENTS

6.1 INTRODUCTION

6.2 MARKET STATISTICS

6.2.1 BY TECHNOLOGY

6.2.1.1 COMPUTING

6.2.1.2 DISPLAY

6.2.1.3 NETWORK

6.2.1.4 SENSOR

6.2.2 BY PRODUCT

6.2.2.1 WRISTWEAR

6.2.2.2 HEADWEAR

6.2.2.3 NECKWEAR

6.2.2.4 SMART CLOTHING

6.2.2.5 WEARABLE CAMERAS

6.2.2.6 IMPLANTS

6.2.3 BY COMPONENT

6.2.3.1 CONTROL

6.2.3.2 MEMORY

6.2.3.3 BATTERY

6.2.3.4 SENSING

6.2.3.5 CONNECTIVITY

6.2.3 BY APPLICATION:

6.2.4.1 FITNESS & WELLNESS

6.2.4.2 CONSUMER ELECTRONICS

6.2.4.3 HEALTHCARE

6.2.4.4 DEFENSE

6.2.4.5 ENTERPRISE AND INDUSTRIAL APPLICATION

6.2.5 BY GEOGRAPHY

6.2.5.1 NORTH AMERICA

6.2.5.2 EUROPE

6.2.5.3 ASIA-PACIFIC

6.2.5.4 REST OF THE WORLD

7 COMPETITIVE ANALYSIS

7.1 MARKET SHARE ANALYSIS

7.2 COMPANY PROFILES

7.2.1 ADIDAS AG (GERMANY)

7.2.2 XIAOMI INC. (CHINA)

7.2.3 APPLE INC. (U.S.)

7.2.4 GOOGLE INC. (U.S.)

7.2.5 GARMIN LTD. (U.S.)

7.2.6 FITBIT (U.S.)

7.2.7 JAWBONE (U.S.)

7.2.8 SAMSUNG ELECTRONICS CO., LTD. (SOUTH KOREA)

7.2.9 SONY CORPORATION (JAPAN)

7.2.10 QUALCOMM TECHNOLOGIES, INC. (U.S.)

7.2.11 OTHERS


LIST OF TABLES

TABLE 1 WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY

TABLE 2 WEARABLE TECHNOLOGY MARKET, BY PRODUCT

TABLE 3 WEARABLE TECHNOLOGY MARKET, BY COMPONENT

TABLE 4 WEARABLE TECHNOLOGY MARKET, BY APPLICATION

TABLE 5 WEARABLE TECHNOLOGY MARKET, BY REGIONS

TABLE 6 NORTH AMERICA WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY

TABLE 7 NORTH AMERICA WEARABLE TECHNOLOGY MARKET, BY PRODUCT

TABLE 8 NORTH AMERICA WEARABLE TECHNOLOGY MARKET, BY COMPONENT

TABLE 9 NORTH AMERICA WEARABLE TECHNOLOGY MARKET, BY APPLICATION

TABLE 10 U.S. WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY

TABLE 11 U.S. WEARABLE TECHNOLOGY MARKET, BY PRODUCT

TABLE 12 U.S. WEARABLE TECHNOLOGY MARKET, BY COMPONENT

TABLE 13 U.S. WEARABLE TECHNOLOGY MARKET, BY APPLICATION

TABLE 14 CANADA WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY

TABLE 15 CANADA WEARABLE TECHNOLOGY MARKET, BY PRODUCT

TABLE 16 CANADA WEARABLE TECHNOLOGY MARKET, BY COMPONENT

TABLE 17 CANADA WEARABLE TECHNOLOGY MARKET, BY APPLICATION

TABLE 18 EUROPE WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY

TABLE 19 EUROPE WEARABLE TECHNOLOGY MARKET, BY PRODUCT

TABLE 20 EUROPE WEARABLE TECHNOLOGY MARKET, BY COMPONENT

TABLE 21 EUROPE WEARABLE TECHNOLOGY MARKET, BY APPLICATION

TABLE 22 GERMANY WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY

TABLE 23 GERMANY WEARABLE TECHNOLOGY MARKET, BY PRODUCT

TABLE 24 GERMANY WEARABLE TECHNOLOGY MARKET, BY COMPONENT

TABLE 25 GERMANY WEARABLE TECHNOLOGY MARKET, BY APPLICATION

TABLE 26 FRANCE WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY

TABLE 27 FRANCE WEARABLE TECHNOLOGY MARKET, BY PRODUCT

TABLE 28 FRANCE WEARABLE TECHNOLOGY MARKET, BY COMPONENT

TABLE 29 FRANCE WEARABLE TECHNOLOGY MARKET, BY APPLICATION

TABLE 30 U.K. WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY

TABLE 31 U.K. WEARABLE TECHNOLOGY MARKET, BY PRODUCT

TABLE 32 U.K. WEARABLE TECHNOLOGY MARKET, BY COMPONENT

TABLE 33 U.K. WEARABLE TECHNOLOGY MARKET, BY APPLICATION

TABLE 34 REST OF EUROPE WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY

TABLE 35 REST OF EUROPE WEARABLE TECHNOLOGY MARKET, BY PRODUCT

TABLE 36 REST OF EUROPE WEARABLE TECHNOLOGY MARKET, BY COMPONENT

TABLE 37 REST OF EUROPE WEARABLE TECHNOLOGY MARKET, BY APPLICATION

TABLE 38 ASIA-PACIFIC WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY

TABLE 39 ASIA-PACIFIC WEARABLE TECHNOLOGY MARKET, BY PRODUCT

TABLE 40 ASIA-PACIFIC WEARABLE TECHNOLOGY MARKET, BY COMPONENT

TABLE 41 ASIA-PACIFIC WEARABLE TECHNOLOGY MARKET, BY APPLICATION

TABLE 42 MIDDLE EAST & AFRICA WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY

TABLE 43 MIDDLE EAST & AFRICA WEARABLE TECHNOLOGY MARKET, BY PRODUCT

TABLE 44 MIDDLE EAST & AFRICA WEARABLE TECHNOLOGY MARKET, BY COMPONENT

TABLE 45 MIDDLE EAST & AFRICA WEARABLE TECHNOLOGY MARKET, BY APPLICATION

LIST OF FIGURES

FIGURE 1 RESEARCH NETWORK SOLUTION

FIGURE 2 WEARABLE TECHNOLOGY MARKET: BY TECHNOLOGY (%)

FIGURE 3 WEARABLE TECHNOLOGY MARKET: BY PRODUCT (%)

FIGURE 4 WEARABLE TECHNOLOGY MARKET: BY COMPONENT (%)

FIGURE 5 WEARABLE TECHNOLOGY MARKET: BY APPLICATION (%)

FIGURE 6 WEARABLE TECHNOLOGY MARKET: BY REGION

FIGURE 7 NORTH AMERICA WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY (%)

FIGURE 8 NORTH AMERICA WEARABLE TECHNOLOGY MARKET, BY PRODUCT (%)

FIGURE 9 NORTH AMERICA WEARABLE TECHNOLOGY MARKET, BY COMPONENT (%)

FIGURE 10 NORTH AMERICA WEARABLE TECHNOLOGY MARKET, BY APPLICATION (%)

FIGURE 11 EUROPE WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY (%)

FIGURE 12 EUROPE WEARABLE TECHNOLOGY MARKET, BY PRODUCT (%)

FIGURE 13 EUROPE WEARABLE TECHNOLOGY MARKET, BY COMPONENT (%)

FIGURE 14 EUROPE WEARABLE TECHNOLOGY MARKET, BY APPLICATION (%)

FIGURE 15 ASIA-PACIFIC WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY (%)

FIGURE 16 ASIA-PACIFIC WEARABLE TECHNOLOGY MARKET, BY PRODUCT (%)

FIGURE 17 ASIA-PACIFIC WEARABLE TECHNOLOGY MARKET, BY COMPONENT (%)

FIGURE 18 ASIA-PACIFIC WEARABLE TECHNOLOGY MARKET, BY APPLICATION (%)

FIGURE 19 ROW WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY (%)

FIGURE 20 ROW WEARABLE TECHNOLOGY MARKET, BY PRODUCT (%)

FIGURE 21 ROW WEARABLE TECHNOLOGY MARKET, BY COMPONENT (%)

FIGURE 22 ROW WEARABLE TECHNOLOGY MARKET, BY APPLICATION (%)