Wearable Technologies Market by Product, Material, End User, and Geography - Forecast to 2029

Wearable Technologies Market by Product (Smartwatches, Blood Pressure Monitor Watches, Head-mounted Displays, Smart Headgears, Smart Glasses, Smart Jewellery, Body-worn Cameras), Material, End User, and Geography - Forecast to 2029

The research report titled, ‘Wearable Technologies Market by Product (Smartwatches, Blood Pressure Monitor Watches, Head-mounted Displays, Smart Headgears, Smart Glasses, Smart Jewellery, Body-worn Cameras), Material, End User, and Geography - Forecast to 2029,’ provides an in-depth analysis of the global wearable technologies market and emphasizes on the current market trends, market size, market shares, recent developments, and forecast till 2029.

By value, the global wearable technologies market is expected to reach $415.12 billion by 2029, at a CAGR of 17.1% during the forecast period. By volume, the global wearable technologies market is expected to reach 1,150.71 million units by 2029, at a CAGR of 19.2% during the forecast period.

The growth of the wearable technologies market is driven by factors such as the increasing growth prospects of next-generation displays in wearable devices, incremental technological advancements aiding the market growth, and the rising prevalence of chronic diseases and obesity. The increasing demand for wearables that integrate all computing requirements in one compact device, increasing internet penetration, and high adoption of smart wearables are expected to create growth opportunities for the players operating this market.

This study offers a comprehensive analysis of the wearable technologies market segmented by product (smartwatches, blood pressure monitor watches, head-mounted displays, smart headgears, smart glasses, smart jewelry, body-worn cameras, robotic exoskeletons, smart clothing, smart patches, wearable biosensors (WBS), wearable cardioverter-defibrillators, smart headphones, and smart hearing aids), material (silicones, fluoroelastomers, polyurethanes, polymer dispersed liquid crystal (PDLC), others), end user(consumer, healthcare, military), and geography. The study also evaluates industry competitors and analyzes the market at the country and regional levels.

Based on product, the global wearable technologies market is mainly segmented into smartwatches, blood pressure monitor watches, head-mounted displays, smart headgears, smart glasses, smart jewelry, body-worn cameras, robotic exoskeletons, smart clothing, smart patches, wearable biosensors (WBS), wearable cardioverter-defibrillators, smart headphones, and smart hearing aids. By value and volume, in 2022, the head-mounted displays segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to factors such as the increasing investments by major players in the development of HMDs, increased adoption of AR and VR technologies due to COVID-19, availability of low-cost HMDs, and technological advancements and growing digitalization.

Based on end user, the global wearable technologies market is segmented into consumer, healthcare, and military. In 2022, the healthcare segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is driven by the growing investments, funds, grants, and preference for wireless connectivity among healthcare providers.

Based on geography, the global wearable technologies market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2022, North America is expected to grow at the highest CAGR during the forecast period. The growth in disposable income and the rapid adoption and popularity of enhanced devices are some of the primary drivers of this geographical region. Moreover, the region has a strong foothold on wearable vendors, such as Apple, Fitbit, and Garmin, among others, adding to the market's growth.

Some of the key players operating in the global wearable technologies market are Apple Inc. (U.S.), Fitbit Inc. (U.S.), Samsung Electronics Co., Ltd. (South Korea), Garmin Ltd. (U.S.), LG Electronics, Inc. (South Korea), Huawei Technologies Co. Ltd (China), Sony Corporation (Japan), Xiaomi Corporation (China), adidas AG (Germany), Nike Inc. (U.S.), HTC Corporation (Taiwan), AiQ Smart Clothing Inc. (Taiwan), Razer Inc. (U.S.), RealWear, Inc. (U.S.), and GOQii Technologies Pvt. Ltd.(U.S.).

Key Questions Answered in the Report

• Which are the high-growth market segments in terms of product, material, end user, and geography?
• What is the historical market size for the global wearable technologies market?
• What are the market forecasts and estimates for the period 2022-2029?
• What are the major drivers, restraints, opportunities, and challenges in the global wearable technologies market?
• Which are the major players in the market, and what shares of the market do they hold?
• Which are the major players in various countries, and what market shares do they hold?
• How is the competitive landscape for the global wearable technologies market?
• What are the recent developments in the global wearable technologies market?
• What are the different strategies adopted by the major players operating in the market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the global wearable technologies market, and how do they compete with the other players?