The global wearable technology market size is expected to reach USD 186.14 billion by 2030, expanding at a CAGR of 14.6% from 2023 to 2030. Due to its numerous functions in the healthcare, consumer electronics, and industrial sector wearable technology is becoming more and more popular among consumers. The rapid advancement of technologies, including GPS and RFID for location monitoring and health tracking, is predicted to boost industry growth during the forecast years. Consumers are becoming more aware of wearable technology as a result of its many uses in fields like consumer electronics, healthcare, and e-commerce. The industry is expected to gain traction as a result of the quick development of technologies like Radio Frequency Identification (RFID) and GPS for position monitoring and health tracking.
Users can answer calls and check messages on wearable gadgets without having to take out their phones. In addition, factors that are expected to attract customers and increase the demand for smart wearables include in-store merchandising and the simplicity of making payments using wearables. An increase in public awareness about health and fitness also supports the industry's expansion. Moreover, many firms are focusing on launching new smartwatches with innovative capabilities that assist users to manage their health and exchanging data with doctors in real-time. This would positively impact the industry's growth. For instance, in May 2022, Huawei Technologies Group Co. Ltd. unveiled Watch GT 3 Pro, a wearable device with a heart rate monitor, GPS, and a health monitoring system integrated with it. This launch is anticipated to boost the company’s market position and enable it to attract new clients.
Rising health concerns due to COVID-19 are anticipated to spur the demand for smartwatches as these devices have features like pulse oximeters, heart rate & skin temperature monitors, and others that can assist users to identify coronavirus symptoms. Studies from medical and academic institutions, including Mount Sinai Health System in New York and Stanford University in California, have shown that smartwatches by companies like Garmin Ltd., Fitbit, and Apple Inc. can identify COVID-19 infection even before symptoms appear. The majority of wearable technology devices store data about a person’s health, lifestyle, and daily activities on a connectivity carrier’s network or that of a third-party vendor, opening the door for security breaches, which is a significant issue that may restrain the growth of the overall market.
Users can answer calls and check messages on wearable gadgets without having to take out their phones. In addition, factors that are expected to attract customers and increase the demand for smart wearables include in-store merchandising and the simplicity of making payments using wearables. An increase in public awareness about health and fitness also supports the industry's expansion. Moreover, many firms are focusing on launching new smartwatches with innovative capabilities that assist users to manage their health and exchanging data with doctors in real-time. This would positively impact the industry's growth. For instance, in May 2022, Huawei Technologies Group Co. Ltd. unveiled Watch GT 3 Pro, a wearable device with a heart rate monitor, GPS, and a health monitoring system integrated with it. This launch is anticipated to boost the company’s market position and enable it to attract new clients.
Rising health concerns due to COVID-19 are anticipated to spur the demand for smartwatches as these devices have features like pulse oximeters, heart rate & skin temperature monitors, and others that can assist users to identify coronavirus symptoms. Studies from medical and academic institutions, including Mount Sinai Health System in New York and Stanford University in California, have shown that smartwatches by companies like Garmin Ltd., Fitbit, and Apple Inc. can identify COVID-19 infection even before symptoms appear. The majority of wearable technology devices store data about a person’s health, lifestyle, and daily activities on a connectivity carrier’s network or that of a third-party vendor, opening the door for security breaches, which is a significant issue that may restrain the growth of the overall market.
Wearable Technology Market Report Highlights
- The eyewear & headwear segment is anticipated to register the second-fastest growth rate. The segment’s expansion is aided by the rising use of smart headwear and VR/AR headsets in the entertainment and healthcare sectors
- Increased attention on fitness and health due to the pandemic and easy access to technology are driving the North America regional market
- Consumers who purchase smart wearables, such as smart apparel, smart footwear and smartwatches do so primarily to use the products to track their health and fitness. By 2020, the WHO predicted that the incidence of chronic diseases would increase by 73%
- In 2022, the consumer electronics sector led the industry. Consumer electronics have a wide range of uses, such as for communication and entertainment. Devices that track a person’s working hours are being developed by industry participants due to high demand. In addition, the growth of connected devices and machine-to-machine communication is expected to support the market growth
- Several businesses are concentrating on releasing the newest wearable technology goods, including smart glass, smart helmets, smart rings, and more. In addition, they are undertaking activities, such as mergers and acquisitions
Table of Contents
Chapter 1. Methodology and Scope1.1. Research Methodology
1.2. Research Scope and Assumptions
1.3. List of Data Sources
Chapter 2. Executive Summary
2.1. Wearable Technology - Industry Snapshot & Key Buying Criteria, 2018 - 2030
Chapter 3. Wearable Technology Industry Outlook
3.1. Market Segmentation
3.2. Market Size and Growth Prospects, 2018 - 2030
3.3. Value Chain Analysis
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.2. Market restraint/challenge analysis
3.4.3. Market opportunity analysis
3.5. Key Opportunities Prioritized
3.6. Industry Analysis - Porter's Five Forces
3.6.1. Supplier Power
3.6.2. Buyer Power
3.6.3. Threat of Substitutes
3.6.4. Threat of New Entrants
3.6.5. Competitive Rivalry
3.7. PEST Analysis
3.7.1. Political Landscape
3.7.2. Environmental Landscape
3.7.3. Social Landscape
3.7.4. Technology Landscape
3.8. Wearable Technology Market - COVID-19 Impact
3.9. Wearable Technology Market - Consumer Behavior Analysis, By Region.
Chapter 4. Wearable Technology Market: Price Band Outlook
4.1. Wearable Technology Market Share by Price Band, 2022 & 2030 (USD Million)
4.2. Wrist-Wear
4.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
4.2.2. Market estimates and forecast by region, 2018 - 2030 (USD Million)
4.3. Eyewear & Headwear
4.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
4.3.2. Market estimates and forecast by region, 2018 - 2030 (USD Million)
4.4. Footwear
4.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
4.4.2. Market estimates and forecast by region, 2018 - 2030 (USD Million)
4.5. Neckwear
4.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
4.5.2. Market estimates and forecast by region, 2018 - 2030 (USD Million)
4.6. Body-wear
4.6.1. Market estimates and forecast, 2018 - 2030 (USD Million)
4.6.2. Market estimates and forecast by region, 2018 - 2030 (USD Million)
4.7. Others
4.7.1. Market estimates and forecast, 2018 - 2030 (USD Million)
4.7.2. Market estimates and forecast by region, 2018 - 2030 (USD Million)
Chapter 5. Wearable Technology Market: Application Outlook
5.1. Wearable Technology Market Share by Application, 2022 & 2030 (USD Million)
5.2. Consumer Electronics
5.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
5.2.2. Market estimates and forecast by region, 2018 - 2030 (USD Million)
5.3. Healthcare
5.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
5.3.2. Market estimates and forecast by region, 2018 - 2030 (USD Million)
5.4. Enterprise & Industrial Application
5.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
5.4.2. Market estimates and forecast by region, 2018 - 2030 (USD Million)
5.5. Others
5.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
5.5.2. Market estimates and forecast by region, 2018 - 2030 (USD Million)
Chapter 6. Wearable Technology Market: Regional Outlook
6.1. Wearable Technology Market Share by Region, 2022 & 2030 (USD Million & Million Units)
6.2. North America
6.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.2.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.2.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.2.4. U.S.
6.2.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.2.4.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.2.4.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.2.5. Canada
6.2.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.2.5.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.2.5.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.3. Europe
6.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.3.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.3.4. U.K.
6.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.4.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.3.4.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.3.5. Germany
6.3.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.5.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.3.5.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.3.6. France
6.3.6.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.6.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.3.6.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.3.7. Rest of Europe
6.3.7.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.3.7.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.3.7.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.4. Asia Pacific
6.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.4.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.4.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.4.4. China
6.4.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.4.4.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.4.4.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.4.5. India
6.4.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.4.5.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.4.5.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.4.6. Japan
6.4.6.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.4.6.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.4.6.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.4.7. Rest of Asia Pacific
6.4.7.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.4.7.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.4.7.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.5. Latin America
6.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.5.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.5.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.5.4. Brazil
6.5.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.5.4.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.5.4.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.5.5. Mexico
6.5.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.5.5.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.5.5.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.5.6. Rest of Latin America
6.5.6.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.5.6.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.5.6.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
6.6. Middle East & Africa
6.6.1. Market estimates and forecast, 2018 - 2030 (USD Million)
6.6.2. Market estimates and forecast by product, 2018 - 2030 (USD Million)
6.6.3. Market estimates and forecast by application, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
7.1. Alphabet, Inc
7.1.1. Company overview
7.1.2. Financial performance
7.1.3. Product benchmarking
7.1.4. Strategic initiatives
7.2. SAMSUNG ELECTRONICS CO., LTD.
7.2.1. Company overview
7.2.2. Financial performance
7.2.3. Product benchmarking
7.2.4. Strategic initiatives
7.3. Sony Corporation
7.3.1. Company overview
7.3.2. Financial performance
7.3.3. Product benchmarking
7.3.4. Strategic initiativesDaiichi J
7.4. Huawei Technologies Group Co., Ltd.
7.4.1. Company overview
7.4.2. Financial performance
7.4.3. Product benchmarking
7.4.4. Strategic initiativesDaiichi
7.5. Apple Inc
7.5.1. Company overview
7.5.2. Financial performance
7.5.3. Product benchmarking
7.5.4. Strategic initiatives
7.6. Xiaomi Corporation
7.6.1. Company overview
7.6.2. Financial performance
7.6.3. Product benchmarking
7.7. Adidas AG
7.7.1. Company overview
7.7.2. Financial performance
7.7.3. Product benchmarking
7.8. Nike, Inc.
7.8.1. Company overview
7.8.2. Financial performance
7.8.3. Product benchmarking
7.8.4. Strategic initiatives
7.9. Fitbit, Inc
7.9.1. Company overview
7.9.2. Financial performance
7.9.3. Product benchmarking
7.9.4. Strategic initiatives
7.10. Garmin Ltd.
7.10.1. Company overview
7.10.2. Financial performance
7.10.3. Product benchmarking
7.10.4. Strategic initiatives
List of Tables
Table 1 Wearable Technology market, 2018 - 2030 (USD Million)
Table 2 Global Wearable Technology market, by region, 2018 - 2030 (USD Million)
Table 3 Global Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 4 Global Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 5 Wrist-Wear, 2018 - 2030 (USD Million)
Table 6 Wrist-Wear, by region, 2018 - 2030 (USD Million)
Table 7 Eyewear & Headwear market, 2018 - 2030 (USD Million)
Table 8 Eyewear & Headwear market, by region, 2018 - 2030 (USD Million)
Table 9 Footwear market, 2018 - 2030 (USD Million)
Table 10 Footwear market, by region, 2018 - 2030 (USD Million)
Table 11 Neckwear market, 2018 - 2030 (USD Million)
Table 12 Neckwear market, by region, 2018 - 2030 (USD Million)
Table 13 Body-Wear market, 2018 - 2030 (USD Million)
Table 14 Body-Wear market, by region, 2018 - 2030 (USD Million)
Table 15 Others market, 2018 - 2030 (USD Million)
Table 16 Others market, by region, 2018 - 2030 (USD Million)
Table 17 Consumer Electronics market, 2018 - 2030 (USD Million)
Table 18 Consumer Electronics market, by region, 2018 - 2030 (USD Million)
Table 19 Healthcare market, 2018 - 2030 (USD Million)
Table 20 Healthcare market, by region, 2018 - 2030 (USD Million)
Table 21 Enterprise & Industrial Application market, 2018 - 2030 (USD Million)
Table 22 Enterprise & Industrial Application market, by region, 2018 - 2030 (USD Million)
Table 23 Others market, 2018 - 2030 (USD Million)
Table 24 Others market, by region, 2018 - 2030 (USD Million)
Table 25 North America Wearable Technology market, 2018 - 2030 (USD Million)
Table 26 North America Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 27 North America Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 28 U.S. Wearable Technology market, 2018 - 2030 (USD Million)
Table 29 U.S. Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 30 U.S. Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 31 Canada Wearable Technology market, 2018 - 2030 (USD Million)
Table 32 Canada Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 33 Canada Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 34 Europe Wearable Technology market, 2018 - 2030 (USD Million)
Table 35 Europe Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 36 Europe Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 37 U.K. Wearable Technology market, 2018 - 2030 (USD Million)
Table 38 U.K. Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 39 U.K. Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 40 Germany Wearable Technology market, 2018 - 2030 (USD Million)
Table 41 Germany Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 42 Germany Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 43 France Wearable Technology market, 2018 - 2030 (USD Million)
Table 44 France Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 45 France Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 46 Rest of Europe Wearable Technology market, 2018 - 2030 (USD Million)
Table 47 Rest of Europe Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 48 Rest of Europe Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 49 Asia Pacific Wearable Technology market, 2018 - 2030 (USD Million)
Table 50 Asia Pacific Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 51 Asia Pacific Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 52 China Wearable Technology market, 2018 - 2030 (USD Million)
Table 53 China Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 54 China Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 55 China Wearable Technology market, by application, 2018 - 2030 (Million Units)
Table 56 India Wearable Technology market, 2018 - 2030 (USD Million)
Table 57 India Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 58 India Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 59 Japan Wearable Technology market, 2018 - 2030 (USD Million)
Table 60 Japan Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 61 Japan Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 62 Rest of Asia Pacific Wearable Technology market, 2018 - 2030 (USD Million)
Table 63 Rest of Asia Pacific Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 64 Rest of Asia Pacific Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 65 Latin America Wearable Technology market, 2018 - 2030 (USD Million)
Table 66 Latin America Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 67 Latin America Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 68 Brazil Wearable Technology market, 2018 - 2030 (USD Million)
Table 69 Brazil Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 70 Brazil Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 71 Mexico Wearable Technology market, 2018 - 2030 (USD Million)
Table 72 Mexico Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 73 Mexico Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 74 Rest of Latin America Wearable Technology market, 2018 - 2030 (USD Million)
Table 75 Rest of Latin America Wearable Technology market, by product, 2018 - 2030 (USD Million
Table 76 Rest of Latin America Wearable Technology market, by application, 2018 - 2030 (USD Million)
Table 77 Middle East & Africa Wearable Technology market, 2018 - 2030 (USD Million)
Table 78 Middle East & Africa Wearable Technology market, by product, 2018 - 2030 (USD Million)
Table 79 Middle East & Africa Wearable Technology market, by application, 2018 - 2030 (USD Million)
List of Figures
Fig. 1 Wearable Technology market, by 2022 (USD Million)
Fig. 2 Wearable Technology market segmentation
Fig. 3 Value chain analysis
Fig. 4 Wearable Technology market dynamics
Fig. 5 Wearable Technology market driver impact
Fig. 6 Wearable Technology market restraint impact
Fig. 7 Wearable Technology market opportunity impact
Fig. 8 Wearable Technology penetration & growth prospects mapping
Fig. 9 Wearable Technology market - Porter’s five forces
Fig. 10 Wearable Technology market - PEST analysis
Fig. 11 Wearable Technology market, by region, 2022 & 2030 (USD Million)
Fig. 12 Wearable Technology market, by product, 2022 & 2030 (USD Million)
Fig. 13 Wearable Technology market, by application, 2022 & 2030 (USD Million)
Companies Mentioned
- Alphabet, Inc
- SAMSUNG ELECTRONICS CO., LTD.
- Sony Corporation
- Huawei Technologies Group Co., Ltd.
- Apple Inc
- Xiaomi Corporation
- Adidas AG
- Nike, Inc.
- Fitbit, Inc
- Garmin Ltd.
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 142 |
| Published | January 2023 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 71.91 Billion |
| Forecasted Market Value ( USD | $ 186.14 Billion |
| Compound Annual Growth Rate | 14.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
