Wearable Device Market Will Reach USD62.82 Billion by 2025: Meticulous Research®
Wearable Devices Market by Product Type (Smartwatch, Earwear, Eyewear, and others), End-Use Industry (Consumer Electronics, Healthcare, Enterprise and Industrial, Media and Entertainment), Connectivity Medium, and Region – Global Forecast to 2025
Pune, India – January 15, 2020 /MarketersMedia/ —
Wearable devices, also termed as smart wearables are electronic technology or devices incorporated into items that can be comfortably worn every day on the body. These devices are used for tracking user information on a real-time basis. Meticulous Research® in its latest publication on wearable device market states that the global wearable device market will grow at a CAGR of 11.3% from 2019 to 2025 to reach USD 62.82 billion by 2025.
The growth of the global wearable device market is mainly attributed to adoption of wearable across multiple application areas. Growing consumer preference for connected devices and the increasing proliferation of IoT and associated devices are perfectly complimenting the overall growth of the wearable devices market. However, concerns with data privacy and security and lack of internet and associated infrastructure in some developing and underdeveloped countries are limiting the adoption of wearable devices, thereby restraining the market growth to a certain extent. Consequently, emerging economies such as Latin America, South East Asia, and Africa are yet to catch pace with the global implementation of wearable devices market.
To provide efficient analysis, Meticulous Research has segmented this market on the basis by product type (smartwatch, ear wear, clothing, wristband and others), end-use industry (consumer electronics, healthcare, enterprise & industrial, media & entertainment and others), connectivity medium (cellular, NFC, Bluetooth, Wi-Fi and ANT+) and region – global forecast to 2025.
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Geography Review:
Geographically, North America commanded the largest share of the wearable devices market followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa regions. The major share of North America is mainly attributed to the high acceptance of new technology by consumers, presence of majority of established wearable device players and start-ups in the region, and availability of a variety of smart devices. However, the rising consumer acceptance of wearable devices, economic growth, increasing disposable incomes, presence of large share of young populations, is driving the fastest growth in the Asia-Pacific market.
In 2018, smartwatches commanded the largest share of the global wearable devices market. Growing awareness pertaining to personal fitness and health among consumers and increasing demand for wireless health monitoring devices are the key factors that have led to majority share of the smartwatches in the overall wearable devices market. However, novel technologies in wearable devices, such as clothing and earwear are expected to grow at a fastest CAGR during the forecast period. Consumer preference towards adopting advanced technologies is driving the fast growth in these segments.
In terms of end-use industry, the healthcare segment accounted for the largest share of the global wearable devices market in 2018. Several wearable devices, such as fitness trackers and smartwatches are used by medical professionals to acquire physiological, behavioral, and contextual data for diagnosis, treatment, and management of chronic diseases. Besides, these devices are also generating a sense of healthy lifestyle among young as well as old population. These are some of the key factors that contribute to the large share of healthcare industry in the overall wearable devices market.
Key Players:
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market including Apple, Inc. (U.S.), Google LLC (U.S.), Microsoft Corporation (U.S.), Sony Corporation (Japan), Samsung Electronics Cp., Ltd. (South Korea), Garmin Ltd. (U.S.), Huawei Technologies Co., Ltd (U.S.), Fitbit, Inc. (U.S.), LG Electronics (South Korea), Misfit (U.S.).
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Key Topics Covered in This Report:
1. Introduction
1.1. Market Ecosystem
1.2. Currency and Limitations
1.2.1. Currency
1.2.2. Limitations
1.2.3. Key Stakeholders
2. Research Methodology
2.1 Research Approach
2.2 Data Collection
2.2.1 Secondary Research
2.2.2 Primary Research
2.3 Market Assessment
2.3.1 Market Size Estimation
2.3.1.1 Bottom-Up Approach
2.3.1.2 Top-Down Approach
2.3.1.3 Growth forecast
2.3.1.4 Market Share Analysis
2.4 Assumptions for the Study
2.5 Limitations for Study
3. Executive Summary
3.1. Key Opportunities
4. Market Insights
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.1.1. Growing Adoption of Wearables across Multiple Application Areas
4.2.1.2. Growing Consumer Preference for Connected Devices
4.2.1.3. Increasing Penetration of IoT and Related Devices
4.2.2. Restraints
4.2.2.1. Lack of Data Privacy and Security
4.2.2.2. Lack of Internet and Associated Infrastructure in Underdeveloped Countries
4.2.3. Opportunities
4.2.3.1. Increasing Demand of Wearable Devices in Remote Patient Monitoring
4.2.4. Challenges
4.2.4.1. Initial High Cost and Limited Battery Life
4.2.5. Trends
4.2.5.1. Smart Textile and Electronic Clothing
5. Wearable Devices Market, by Product Type
5.1. Introduction
5.2. Smartwatch
5.3. Earwear
5.4. Clothing
5.5. Wristband
5.6. Other
6. Wearable Devices Market, by End-Use Industry
6.1. Consumer Electronics
6.2. Healthcare
6.3. Enterprise & Industrial
6.4. Media & Entertainment
6.5. Others
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7. Wearable Devices Market, by Connectivity Medium
7.1. Introduction
7.2. Cellular
7.3. NFC
7.4. Bluetooth
7.5. Wi-Fi
7.6. Ant+
8. Global Wearables Device Market, by Geography
8.1. Introduction
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.3. Europe
8.3.1. Germany
8.3.2. U.K.
8.3.3. France
8.3.4. Italy
8.3.5. Spain
8.3.6. Rest of Europe
8.4. Asia-Pacific
8.4.1. Japan
8.4.2. India
8.4.3. China
8.4.4. Rest of APAC (Rest of APAC)
8.5. Latin America
8.6. Middle East & Africa
9. Competitive Landscape
9.1. New Product Launches
9.2. Mergers and Acquisitions
9.3. Partnerships, Agreements, and Collaborations
10. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
10.1. Garmin Ltd
10.2. Fitbit Inc.
10.3. Huawei Technologies
10.4. Microsoft Corporation
10.5. Sony Corporation
10.6. Apple Inc.
10.7. Samsung
10.8. LG Electronics
10.9. Google LLC
10.10. Misfit, Inc.
11. Appendix
11.1. Questionnaire
Look insights of Global Wearable Devices Market industry research report at:https://www.meticulousresearch.com/product/wearable-devices-market-5050/
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