The global wearable electronics market size was valued at $81.40 billion in 2020, and is projected to reach $459.58 billion by 2030, growing at a CAGR of 19.96% from 2021 to 2030. Wearable electronics refers to an integrated computing device or product, which helps the person or the user wearing it to enhance day to day activities. The technological advancement in wearable electronics, help the user to avail advanced features and characteristics.
The first form of wearable electronic device was a calculator watch. Wearable devices, such as wrist bands, watches which can record audio, video and process data on the go was seen as something very futuristic, however advancements made in the past decade has made it possible for users to realize the potential of these devices in the current age.
The market is analyzed and estimated in accordance with the impacts of the drivers, restraints, and opportunities. The demand for wearable electronics market share is expected to boost emergence of a large number of manufacturers, rise in awareness among customers for health-related activities and surge in usage among customers of varied age profiles for patient tracking systems. However, increase in number of customers adopting digital devices and presence of internet mobility is expected to hinder the growth of the wearable electronics market. Conversely, increase in investment on building a connected ecosystem is projected to offer remunerative wearable electronics market opportunities. Each of these factors is anticipated to have a definite impact on the market during the forecast period.
The global wearable electronics market is segmented on the basis of product, component, application, and geography. The product type segment namely wrist-wear, eye-wear, body-wear, and other-wear are covered under the scope of this report. Moreover, application segment is divided into healthcare, entertainment, commercial, industrial, and others. Based on geography, the global wearable electronics market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the wearable electronics industry include Adidas AG, Fitbit, Inc., Nike, Inc., Google, Inc., Apple, Inc., Sony Corporation, Samsung Electronics, Garmin Ltd., Sensoria Inc., and LG Electronics.
The first form of wearable electronic device was a calculator watch. Wearable devices, such as wrist bands, watches which can record audio, video and process data on the go was seen as something very futuristic, however advancements made in the past decade has made it possible for users to realize the potential of these devices in the current age.
The market is analyzed and estimated in accordance with the impacts of the drivers, restraints, and opportunities. The demand for wearable electronics market share is expected to boost emergence of a large number of manufacturers, rise in awareness among customers for health-related activities and surge in usage among customers of varied age profiles for patient tracking systems. However, increase in number of customers adopting digital devices and presence of internet mobility is expected to hinder the growth of the wearable electronics market. Conversely, increase in investment on building a connected ecosystem is projected to offer remunerative wearable electronics market opportunities. Each of these factors is anticipated to have a definite impact on the market during the forecast period.
The global wearable electronics market is segmented on the basis of product, component, application, and geography. The product type segment namely wrist-wear, eye-wear, body-wear, and other-wear are covered under the scope of this report. Moreover, application segment is divided into healthcare, entertainment, commercial, industrial, and others. Based on geography, the global wearable electronics market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the wearable electronics industry include Adidas AG, Fitbit, Inc., Nike, Inc., Google, Inc., Apple, Inc., Sony Corporation, Samsung Electronics, Garmin Ltd., Sensoria Inc., and LG Electronics.
Key Market Segments
By Product
- Wrist-Wear
- Eye-Wear
- Body-Wear
- Others
By Application
- Healthcare
- Entertainment
- Industrial
- Others
By Region
- North America
- US
- Mexico
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Taiwan
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- Adidas AG
- Apple, Inc
- Fitbit, Inc
- Google, Inc
- Nike, Inc
- Sony Corporation
- Samsung Electronics
- Garmin Ltd
- Sensoria Inc
- LG Electronics
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Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Wearable Electronics Market, by Product Type
Chapter 5: Wearable Electronics Market, by Application
Chapter 6: Wearable Electronics Market, by Region
Chapter 7: Company Landscape
Chapter 8: Company Profiles
List of Tables
Executive Summary
According to a new report titled, “Wearable Electronics Market by Product, Component, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030, the global wearable electronics market size was valued at $81.40 billion in 2020, and is projected to reach $459.58 billion by 2030, growing at a CAGR of 19.96% from 2021 to 2030.Wearable electronics refers to an integrated computing device or product, which helps the person or the user wearing it to enhance day to day activities. The dawn of mobile wireless systems, smart phones, has sparked a new era for wearable electronics globally. Gadgets which were deemed to be just used in industrial & commercial applications have now found their way into normal consumers enhancing their quality of life through various applications such as healthcare, sports & fitness, and lifestyle among a few.
The prominent factor that drives the wearable electronics market growth include lower device cost due to the emergence of a large number of manufacturers and rise in awareness among customers for health-related activities and increase in usage amongst customers of varied age profiles for patient tracking systems. However, surge in number of customers adopting digital devices and presence of internet mobility is expected to hinder the growth of the wearable electronics market trends. Conversely, rise in investment on building a connected ecosystem is projected to offer remunerative wearable electronics market opportunities.
Wrist wear segment was the largest contributor of revenue in 2020 and is expected to grow at a CAGR of 17.5% from 2021 to 2030. Factor such as advancement and innovations in smart watches by the key players help drive the wearable electronics market. Body wear segment consumes 20.0% market share. Surge in adoption of wearable devices such as smart watches, band, headsets, gloves in manufacturing industry is one of the major factors for this growth.
The global wearable electronics market is segmented into product, application, and region. On the basis of product, the market is fragmented into wrist-wear, eye-wear, body-wear and other-wear. Moreover, application segment is divided into healthcare, entertainment, industrial, and others.
Region wise, the wearable electronics market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). The market share in Asia-Pacific is expected to grow at a faster rate as compared to other regions. Factor such as rapid technological advancements & innovations and transformation from automated devices to autonomous devices due to the integration and advancement of IoT and AI technologies increases the demand for wearable electronics industry.
COVID-19 Impact Analysis
The global wearable electronics market size has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have been stalled which, in turn has declined the market growth. In the present pandemic scenario, health has become an utmost priority for people so demand for wearable products related to health and fitness such as fitness bands and smartwatches is expected to increase significantly.
Key Findings Of The Study
- In terms of revenue and volume, the wrist wear segment contributed the maximum wearable electronics segment in 2020, and is expected to maintain its lead throughout the wearable electronics market forecast period
- In 2020, North America accounted for over a 29% share globally, and is witness significant growth in wearable electronics market share
- The key players profiled in the report include Adidas AG, Fitbit, Inc., Nike, Inc., Google, Inc., Apple, Inc., Sony Corporation, Samsung Electronics, Garmin Ltd., Sensoria Inc., and LG Electronics Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the wearable electronics market
Companies Mentioned
- Adidas AG
- Apple, Inc.
- Fitbit, Inc.
- Google, Inc.
- Nike, Inc.
- Sony Corporation
- Samsung Electronics
- Garmin Ltd.
- Sensoria Inc.
- LG Electronics
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 210 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 74.47 billion |
| Forecasted Market Value ( USD | $ 459.58 billion |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
