The global wearable computing devices market size reached US$ 63.5 Billion in 2023. Looking forward, the market is projected to reach US$ 233.6 Billion by 2032, exhibiting a growth rate (CAGR) of 15.57% during 2023-2032.
Wearable computing devices comprise watches, strips, hats, exoskeletons, vests, shirts, bags, and head-up displays (HUDs) that are worn on the body to monitor calories burnt, sleeping pattern and heart rate of the user. These devices have microchips, wireless communication capabilities, and various sensors for collecting data and enhancing the overall user experience. They also enable the wearer to take calls, browse different internet applications, and read emails and text messages. Besides this, as they offer flexibility, portability, and hands-free use, the demand for wearable computing devices is escalating across the globe.
They offer a convenient and noninvasive alternative to medical care in clinical settings and enable remote health monitoring of patients. This, coupled with the increasing geriatric population, is positively influencing the market. Apart from this, there is a significant rise in the use of wearable smart glasses in the education sector, which aid in telemonitoring, documentation of lectures, preparing an on-site report, capturing essential points as images, and evaluating student concentration. Furthermore, the rapid expansion of information and communications technology (ICT) is projected to stimulate the growth of the market in the coming years.
2. What is the expected growth rate of the global wearable computing devices market during 2024-2032?
3. What are the key factors driving the global wearable computing devices market?
4. What has been the impact of COVID-19 on the global wearable computing devices market?
5. What is the breakup of the global wearable computing devices market based on the product type?
6. What is the breakup of the global wearable computing devices market based on the connectivity type?
7. What is the breakup of the global wearable computing devices market based on the application?
8. What are the key regions in the global wearable computing devices market?
9. Who are the key players/companies in the global wearable computing devices market?
Wearable computing devices comprise watches, strips, hats, exoskeletons, vests, shirts, bags, and head-up displays (HUDs) that are worn on the body to monitor calories burnt, sleeping pattern and heart rate of the user. These devices have microchips, wireless communication capabilities, and various sensors for collecting data and enhancing the overall user experience. They also enable the wearer to take calls, browse different internet applications, and read emails and text messages. Besides this, as they offer flexibility, portability, and hands-free use, the demand for wearable computing devices is escalating across the globe.
Wearable Computing Devices Market Trends
Rising digitalization across the globe represents one of the key factors propelling the growth of the market. Moreover, wearable computing devices can provide remote assistance and expertise to field workers through digital data, audio, and image. These devices are utilized by sports personnel for activity tracking, goal monitoring, direction, data and location sharing, and optimum performance management. Besides this, wearable computing devices, such as biosensors, fitness trackers, smart health watches, electrocardiography (ECG) and blood pressure monitors, find extensive application in the healthcare industry.They offer a convenient and noninvasive alternative to medical care in clinical settings and enable remote health monitoring of patients. This, coupled with the increasing geriatric population, is positively influencing the market. Apart from this, there is a significant rise in the use of wearable smart glasses in the education sector, which aid in telemonitoring, documentation of lectures, preparing an on-site report, capturing essential points as images, and evaluating student concentration. Furthermore, the rapid expansion of information and communications technology (ICT) is projected to stimulate the growth of the market in the coming years.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global wearable computing devices market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on product type, connectivity type and application.Breakup by Product Type:
- Smart Watches
- Head Mounted Displays
- Smart Clothing
- Ear Worn
- Fitness Trackers
- Body Worn Camera
- Exoskeleton
- Others
Breakup by Connectivity Type:
- Bluetooth
- Wi-Fi
- 4G/5G
- Others
Breakup by Application:
- Fitness and Wellness
- Medical and Healthcare
- Infotainment
- Industrial and Defense
- Others
Breakup by Region:
- 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
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Apple Inc., Ekso Bionics Holdings Inc., Fossil Group Inc., Garmin Ltd., GoPro Inc., Huawei Technologies Co. Ltd., LG Electronics Inc., OMRON Corporation, Samsung Electronics Co. Ltd., Sony Corporation and Transcend Information Inc.Key Questions Answered in This Report
1. What was the size of the global wearable computing devices market in 2023?2. What is the expected growth rate of the global wearable computing devices market during 2024-2032?
3. What are the key factors driving the global wearable computing devices market?
4. What has been the impact of COVID-19 on the global wearable computing devices market?
5. What is the breakup of the global wearable computing devices market based on the product type?
6. What is the breakup of the global wearable computing devices market based on the connectivity type?
7. What is the breakup of the global wearable computing devices market based on the application?
8. What are the key regions in the global wearable computing devices market?
9. Who are the key players/companies in the global wearable computing devices market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Wearable Computing Devices Market
6 Market Breakup by Product Type
7 Market Breakup by Connectivity Type
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Apple Inc.
- Ekso Bionics Holdings Inc.
- Fossil Group Inc.
- Garmin Ltd.
- GoPro Inc.
- Huawei Technologies Co. Ltd.
- LG Electronics Inc.
- OMRON Corporation
- Samsung Electronics Co. Ltd.
- Sony Corporation
- Transcend Information Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 63.5 Billion |
| Forecasted Market Value ( USD | $ 233.6 Billion |
| Compound Annual Growth Rate | 15.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
