Global wearable technology market is anticipated to reach USD 50 billion by 2027, growing at a CAGR of over 15% during the forecast period, due to the increasing customer preference for sophisticated devices and soaring popularity of IoT and connected devices. Products in the wearable technology market are registering technological advancements with the incorporation of miniature sensors, cloud technology, machine learning, etc., which is positively influencing the market growth over the coming years.
Based on the product, wristwear segment, which include smart watches and wristbands, is anticipated to dominate the market during the forecast period due to elevating demand for fitness and healthcare. In terms of application, the market has been segmented into consumer electronics, enterprise & industrial and healthcare. The healthcare segment is anticipated to grow at the highest rate during the forecast period owing to various offerings of wearable technology such as continuous glucose monitoring, drug delivery monitoring, etc. Moreover, increasing cases of chronic diseases such as diabetes are further escalating the application of wearable technology in healthcare. Regionally, North America is the leading region in the global wearable technology market due to technological advancements coupled with rising demand for connected devices.
The major players operating in the wearable technology market are Xiaomi Technology Co., Ltd, Samsung Electronics Co., Ltd., Alphabet, Inc., Qualcomm Technologies, Inc., Guangdong Bbk Electronics Co., Ltd, Lifesense Group B.V., Huawei Technologies Co., Ltd., Motorola Solutions Inc., Adidas Group, Apple, Inc. and others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions, partnership, agreements in order to expand their geographic reach and to increase their customer basis.
Objective of the Study
- To analyze and estimate the market size of global wearable technology market from 2017 to 2020.
- To estimate and forecast the market size of global wearable technology market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast global wearable technology market based on component, product, technology, application, company and regional distribution.
- To identify dominant region or segment in the global wearable technology market.
- To identify drivers and challenges for global wearable technology market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global wearable technology market.
- To conduct pricing analysis for global wearable technology market.
- To identify and analyze the profile of leading players operating in global wearable technology market.
- To identify key sustainable strategies adopted by market players in global wearable technology market.
Click here to download the sample
Market Insights Research performed both primary as well as exhaustive secondary research for this study. Initially, Market Insights Research sourced a list of manufacturers across the globe. Subsequently, Market Insights Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market Insights Research could include the manufacturers which could not be identified due to the limitations of secondary research. Market Insights Research analyzed the manufacturers and presence of all major players across the globe.
Market Insights Research calculated the market size of
Key Target Audience
- Wearable technology manufacturers
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to Wearable Technology
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as
| Attribute | Details |
| Base Year | 2021 |
| Historical Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million and CAGR for 2017-2021 and 2022E-2027F |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Product · Technology · Component · Application |
| Regional scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
| Country scope | United States, Mexico, Canada, China, India, Japan, South Korea, Australia; Germany, France, United Kingdom, Spain, Italy; South Africa, UAE, Saudi Arabia; Brazil, Argentina, Colombia; |
| Key companies profiled | Xiaomi Technology Co., Ltd, Samsung Electronics Co., Ltd., Alphabet, Inc., Qualcomm Technologies, Inc., Guangdong Bbk Electronics Co., Ltd, Lifesense Group B.V., Huawei Technologies Co., Ltd., Motorola Solutions Inc., Adidas Group, Apple, Inc. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
