Wearable Technology Market is Surpassing the demand of Stationary Goods

Posted by Manoj Pandey on December 23rd, 2020

Wearable Technology Market Research Report

Wearable technology is a classification of electronic devices that can be embedded in clothing, worn as accessories, or implanted in the user’s body. The wearables use the sensors to connect with the person and help the users to achieve goals such as staying fit, tracking physical & mental health, and other activities. Several wearable technologies have expanded the access of the users to the information, both in terms of convenience & speed of access and the kind of information which can be accessed. The wearable technology, when operated in a body-centric network system, requires EMC testing to confirm that it can be used for vital signal and transmission without failing or making the other devices to fail.

To have an edge over the competition by knowing the market dynamics and current trends of “Wearable Technology Market,” request for Sample Report here

The major factors responsible for the growth of the global wearable technology market include the accelerating adoption of wearables across several application areas, including consumer applications, defense, and fitness, followed by the increasing number of mobile networks that are enabling the development of wearable technology. The rising technological advancement in the wearables, such as the implementation of the internet of things (IoT) and inclination towards the connected devices will create numerous growth opportunities in the market at the global level. In addition to this, the increasing incidences of chronic diseases and obesity is leading to a rising health concerns, thereby encouraging the adoption of wearable devices to track the physical activities and monitor the body. Moreover, increasing penetration of internet & smartphones, strong demand for next-generation displays in wearable devices, and several research & development activities are bringing innovations in the wearable technology market in the coming years. On the other end of the spectrum, the limited battery life of these wearable devices and the high initial cost of the technology are the two factors that will have a negative impact on the growing demand of the market.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Based on the product, the Headwear & Eyewear segment is anticipated to grow at a higher CAGR over the forecast period owing to the high adoption of the headwear & eyewear wearables among the consumers. In addition to this, the increasing penetration of virtual reality & augmented reality in various application areas is further fuelling the growth of this segment.

Based on the application, the Consumer Electronics segment is expected to increase at a higher compound annual growth rate during the forecast period owing to the rising implementation of wearable technology in consumer electronics. Moreover, the increasing adoption of technologically advanced products such as wearable scanners to enhance efficiency and speed is also a factor driving the market growth of this segment.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Customization here

Based on the region, North America is anticipated to increase at a higher compound annual growth rate during the forecast period owing to the high adoption of wearable devices and the rising demand of the consumers for wearable technology. In addition to this, the large presence of several key players and increasing technological advancements are some other factors propelling the growth of the wearable technology market in this region.

Various notable players operating in the market include Apple Inc., Fitbit, Inc., Garmin Ltd., Xiaomi, Alphabet Inc., Samsung, Qualcomm Technologies, Inc., LG Electronics, Adidas AG, and Sony Corporation, among others.

Key Developments:

    • In 2019, Apple Inc. launched the second generation of its wireless earbuds, Airpods. The latest version of the AirPods comprises the wireless charging case, hand-free access to the digital assistant of iPhone, Siri, and extended battery life.
    • In 2019, Qualcomm Technologies, Inc. entered into a collaboration with Skyhook Wireless, Inc. to develop wi-fi positioning and location-assistance services that are based on the Qualcomm Snapdragon Wear platforms.

The global wearable technology market has been segmented on the basis of type, product, technology, component, offering, application, and region. Based on the type, the market is segmented into wearable products & devices and wearable smart textile. The wearable smart textile is further categorized by type and function. The type segment is further categorized into active smart textiles, passive smart textiles, and ultra-smart textiles. The function segment is categorized into energy harvesting, sensing, thermoelectricity, luminescence & aesthetics, and others. Based on the product, the market is segmented into headwear & eyewear, wristwear, neckwear, footwear, bodywear, and other wearable technologies. The headwear & eyewear segment is further categorized into virtual reality headsets, augmented reality headsets, and others. The wristwear segment is further categorized into smartwatches and wristbands. The neckwear segment is further categorized into ties & collars and fashion & jewellery. The footwear segment is categorized into casual footwear and special-purpose footwear. The bodywear segment is further categorized into fashion & apparel, inner wear, and armwear & legwear. The other wearable technologies segment is further categorized into bodyworn cameras, ring scanners, and internables/implantable. Based on the technology, the market is segmented into display technology, computing technology, positioning technology, networking technology, and sensor technology. Based on the component, the market is segmented into positioning & networking components, power supply components, control components, sensing components, memory components, display & optoelectronic components, and interface components. Based on the offering, the market is segmented into software and services. Based on the application, the market is segmented into healthcare, consumer electronics, enterprise & industrial application, and other applications. The healthcare segment is further categorized into clinical applications and nonclinical applications. The consumer electronics segment is further categorized into infotainment & multimedia, fitness & sports, garments & fashion, and multifunction. The enterprise & industrial application segment is further categorized into logistics, packaging, & warehouse, and other industrial applications.

For detailed scope of the “Wearable Technology Market” report request a Sample Copy of the report

Key questions answered in this research report:

    • At what pace is the global wearable technology market growing? What will be the growth trend in the future?
    • What are the key drivers and restraints in the global wearable technology market? What will be the impact of drivers and restraints in the future?
    • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global wearable technology market?
    • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
    • What are the various application areas of the wearable technology market, and how they are poised to grow?
    • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
    • Market Segmentation

Global Wearable Technology Market by Type

    • Wearable Products & Devices
    • Wearable Smart Textile
      • Type
        • Active Smart Textiles
        • Passive Smart Textiles
        • Ultra-Smart Textiles
      • Function
        • Energy Harvesting
        • Sensing
        • Thermoelectricity
        • Luminescence & Aesthetics
        • Others

Global Wearable Technology Market by Product

    • Headwear & Eyewear
      • Virtual Reality Headsets
      • Augmented Reality Headsets
      • Others
    • Wristwear
      • Smartwatches
      • Wristbands
    • Neckwear
      • Ties & Collars
      • Fashion & Jewelry
    • Footwear
      • Casual Footwear
      • Special-Purpose Footwear
    • Bodywear
      • Fashion & Apparel
      • Inner Wear
      • Armwear & Legwear
    • Other Wearable Technologies
      • Bodyworn Cameras
      • Ring Scanners
      • Internables/Implantables

Global Wearable Technology Market by Technology

    • Display Technology
    • Computing Technology
    • Positioning Technology
    • Networking Technology
    • Sensor Technology

Global Wearable Technology Market by Component

    • Positioning & Networking Components
    • Power Supply Components
    • Control Components
    • Sensing Components
    • Memory Components
    • Display & Optoelectronic Components
    • Interface Components

Global Wearable Technology Market by Offering

    • Software
    • Services

Global Wearable Technology Market by Application

    • Healthcare
      • Clinical Applications
      • Nonclinical Applications
    • Consumer Electronics
      • Infotainment & Multimedia
      • Fitness & Sports
      • Garments & Fashion
      • Multifunction
    • Enterprise & Industrial Application
      • Logistics, Packaging, & Warehouse
      • Other Industrial Applications
    • Other Applications

Global Wearable Technology Market by Region

    • North America Wearable Technology Market (Option 1: As a part of the free 25% customization)
      • North America Wearable Technology Market by Type
      • North America Wearable Technology Market by Product
      • North America Wearable Technology Market by Technology
      • North America Wearable Technology Market by Component
      • North America Wearable Technology Market by Offering
      • North America Wearable Technology Market by Application
      • US Wearable Technology Market All-Up
      • Canada Wearable Technology Market All-Up
    • Europe Wearable Technology Market (Option 2: As a part of the free 25% Customization)
      • Europe Wearable Technology Market by Type
      • Europe Wearable Technology Market by Product
      • Europe Wearable Technology Market by Technology
      • Europe Wearable Technology Market by Component
      • Europe Wearable Technology Market by Offering
      • Europe Wearable Technology Market by Application
      • UK Wearable Technology Market All-Up
      • Germany All-Up Wearable Technology Market All-Up
      • France Wearable Technology Market All-Up
      • Spain Wearable Technology Market All-Up
      • Rest of Europe Wearable Technology Market All-Up
    • Asia-Pacific Wearable Technology Market (Option 3: As a part of the free 25% Customization)
      • Asia-Pacific Wearable Technology Market by Type
      • Asia-Pacific Wearable Technology Market by Product
      • Asia-Pacific Wearable Technology Market by Technology
      • Asia-Pacific Wearable Technology Market by Component
      • Asia-Pacific Wearable Technology Market by Offering
      • Asia-Pacific Wearable Technology Market by Application
      • China Wearable Technology Market All-Up
      • India Wearable Technology Market All-Up
      • Japan Wearable Technology Market All-Up
      • Rest of APAC Wearable Technology Market All-Up
    • RoW Wearable Technology Market (Option 4: As a part of the free 25% Customization)
      • RoW Wearable Technology Market by Type
      • RoW Wearable Technology Market by Product
      • RoW Wearable Technology Market by Technology
      • RoW Wearable Technology Market by Component
      • RoW Wearable Technology Market by Offering
      • RoW Wearable Technology Market by Application
      • Brazil Wearable Technology Market All-Up
      • South Africa Wearable Technology Market All-Up
      • Saudi Arabia Wearable Technology Market All-Up
      • UAE Wearable Technology Market All-Up
      • Rest of world (remaining countries of the LAMEA region) Wearable Technology Market All-Up

Major Players Operating the Global Wearable Technology (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

    • Apple Inc.
    • Fitbit, Inc.
    • Garmin Ltd.
    • Xiaomi
    • Alphabet Inc.
    • Samsung
    • Qualcomm Technologies, Inc.
    • LG Electronics
    • Adidas AG
    • Sony Corporation

Like it? Share it!


Manoj Pandey

About the Author

Manoj Pandey
Joined: May 6th, 2019
Articles Posted: 1

More by this author