DUBLIN, March 1, 2024 /PRNewswire/ — The “Wearable Electronics – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Wearable Electronics Market to Reach $173.7 Billion by 2030
The global market for Wearable Electronics estimated at US$32.5 Billion in the year 2022, is projected to reach a revised size of US$173.7 Billion by 2030, growing at a CAGR of 23.3% over the analysis period 2022-2030. Wristwear, one of the segments analyzed in the report, is projected to record 21.6% CAGR and reach US$89.2 Billion by the end of the analysis period. Growth in the Eyewear segment is estimated at 25.8% CAGR for the next 8-year period.
Wearable electronics have witnessed a historical journey, expanding their applications and solutions with miniaturized, high-performance devices. Wrist-worn devices dominate the global market, with consumer electronics representing the largest end-use sector. While developed regions lead in adoption, developing regions show potential for future growth.
Competition in the wearable electronics market is intense, with key competitors vying for market share. The competitive market presence of players worldwide varies, categorized as strong, active, niche, or trivial. Recent trends also reflect the impact of COVID-19 and the potential effects of a global recession on this burgeoning industry.
The U.S. Market is Estimated at $12.4 Billion, While China is Forecast to Grow at 26.2% CAGR
The Wearable Electronics market in the U.S. is estimated at US$12.4 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$19.7 Billion by the year 2030 trailing a CAGR of 26.2% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.2% and 18.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 24.1% CAGR.
MARKET OVERVIEW
Influencer Market InsightsWorld Market TrajectoriesWearable Technology: The Transition from Science Fiction to RealityHistorical Journey of Wearable TechnologyApplications & Solutions of Wearable ElectronicsWearable Electronics Market: Expanding Applications of Miniaturized, High Performance Wearable Devices Boosts ProspectsWrist-Wear Dominates Global Wearable Electronics MarketConsumer Electronics: The Largest End-Use MarketDeveloped Regions Lead, Developing Regions at the Forefront of Future GrowthWearable Electronics – Global Key Competitors Percentage Market Share in 2022 (E)Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)Smartwatch Market Worldwide: Breakdown of Unit Shipments (in %) by Company for 2019Impact of Covid-19 and a Looming Global Recession
MARKET TRENDS & DRIVERS
Expanding Internet Connectivity and Growing Consumer Demand for Advanced Wearable Devices Fuels Market ProspectsRapid Increase in Penetration Rate of InternetRising Number of IoT and Connected Devices Drive Growth in Wearable Electronics MarketWorld IoT Market: Number of Connected Devices (in Million) for Years 2016, 2018E, 2020P and 2022PMarket Share Scenario of Connected Devices in Global Internet of Things (IoT) by Geographic RegionGrowing Prominence of Wearable Tech in Healthcare Propels Market GrowthGlobal Digital Healthcare Opportunity (in US$ Billion) for the Years 2017, 2019, 2022, 2024 and 2026Chronic Diseases Management: A Key Focus AreaNeed for Continuous Monitoring of Elderly Patients as Part of Chronic Disease Management Drives GrowthRising Consumer Awareness about Health & Fitness Spells Growth for WearablesPotential Role for Wearable Electronics in Patient Monitoring and Tracking SystemsSmart Clothing Gains Acceptance in Neonatal MonitoringWearables Technology Makes Diabetes ManageableRising Diabetes Prevalence Presents Opportunity for Wearable Electronics Market: Number of Adults (20-79) with Diabetes (in Millions) by Region for 2019 and 2045ECG Monitoring Wearables: A Promising Area of GrowthIncreasing Significance of Wearables in Pain ManagementWearable Sleep Monitoring TechnologyWearable EEG MonitorsSmart Medical Textile Garments: An Emerging Area of InterestWrist Wear: A Revolutionary Wearable Phenomenon Fuels GrowthHybrid Smartwatch Sales Drive Market GrowthSmart Glasses for Multiple Industry ApplicationsWith Wearable Computing Gaining Mainstream Attention, the Time is Ripe for Mobility in the Realm of Augmented RealityGrowing Technology & Commercialization Activity Surrounding AR to Benefit Development of Smart AR GlassesActivity Trackers to Lead Growth in Wearable Sports and Fitness Devices MarketA Comparative Review of Popular Fitness TrackersIncreasing Obesity Levels Underpin Market GrowthSmart Clothing Transforming the Wearable Technology Products MarketSmart Fabrics: The Next Big Wave of WearablesNovel Opportunities for Smart Fabrics across Various SectorsHealthcareTransportationSports & FitnessWorkwearMicroencapsulation & Nanotechnologies: Harbingers of Future GrowthHearables, the Smart Headphones, Come to the ForeIncreasing Popularity of Wearables in Infotainment & Gaming IndustryEnterprise Applications of Wearables Present Growth Potential for Wearable Electronics MarketWearable Technology Boosts CRMRising Adoption of Wearable Technology in Industrial Sector Drives GrowthCloud Computing Drives the Momentum in Wearable Electronics MarketCombination of AI and Wearable Technology Transforms the Wearable Electronics MarketGlobal Market for Wearable AI in US$ Billion for the Years 2018, 2020, 2022 and 2024Development of Low Power Electronics: An Opportunity for Wearable Electronics MarketUltra-low Power Microcontrollers Extend Battery Life of High-Performing, New Generation Wearable Devices: Global Ultra-low Power Microcontroller Market (In US$ Billion) for the Years 2018, 2020, 2022 & 2025A Peek into Enabling TechnologiesTechnical Aspects of Wearable DevicesSensor Integration for Advanced Wearable TechnologyBattery Power: An Important Criterion for SuccessTechnology Advancements Power Wearable Electronics MarketCollaboration Vital for Innovations in Wearable TechKey Challenges Confronting Wearable Electronics MarketCommon Issues with Wearable ElectronicsWearables Attract Venture Capital Funding
FOCUS ON SELECT PLAYERS (Total 133 Featured)
Apple, Inc. (USA)Bose Corporation (USA)Epson America, Inc. (USA)Fitbit, Inc. (USA)Garmin Ltd. (USA)Huawei Technologies Co., Ltd. (China)Infineon Technologies AG (Germany)LG Electronics, Inc. (South Korea)Lifesense Group B.V. (The Netherlands)Lumus Ltd. (Israel)Misfit, Inc. (USA)Qualcomm Technologies, Inc. (USA)ReSound (Denmark)Samsung Electronics Co., Ltd. (South Korea)Shimmer Research, Inc. (Ireland)Sony Corporation (Japan)Texas Instruments, Inc. (USA)Titan Industries Ltd. (India)Vuzix Corporation (USA)Xiaomi Corporation (China)
For more information about this report visit https://www.researchandmarkets.com/r/4lic87
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