The report “Wearable Technology Market by Product (Wristwear, Headwear, Footwear, Fashion & Jewelry, Bodywear), Type (Smart Textile, Non-Textile), Application (Consumer Electronics, Healthcare, Enterprise & Industrial), and Geography – Global Forecast to 2026″, size is projected to grow from USD 116.2 billion in 2021 to USD 265.4 billion by 2026; it is expected to grow at a CAGR of 18.0% from 2021 to 2026. The key factors contributing to the growth of the wearable technology market include consumer preference for sophisticated gadgets, increasing growth prospects of next-generation displays in wearable devices, and the growing popularity of IoT and connected devices. However, the shorter life cycle of the electronics market is the key restraint for the growth of the wearable technology market. Conversely, the adoption of wearables in multiple application areas and multi-featured and hybrid application mobile devices provide new opportunities for the growth of the wearable technology market. New application areas, such as medical surgery, are being found in wearable technology. Wearable devices are also used as internables/implantables. Internables or implantables are the advanced wearable technology used in medical applications. Internables or implantables are in the form of sensors that can be fitted into the human body to observe various health parameters.
• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=983
Apple Inc. (US), Fitbit Inc. (US), Google LLC (US), Samsung Electronics Co., Ltd.(South Korea), Garmin Ltd.(Switzerland), LG(South Korea), Huawei(China), Sony Corporation(Japan), Xiaomi Corporation(China), and Microsoft (US) are the key players in the wearable technology market.
Browse 144 market data Tables and 46 Figures spread through 242 Pages and in-depth TOC on “Wearable Technology Market by Product and Geography – Global Forecast to 2026”
Wristwear to hold the largest market share during the forecast period
Wearable technology market is broadly segmented into products such as wristwear, headwear and eyewear, footwear, fashion & jewelry, bodywear, and others. The wearable technology market for wristwear is expected to be valued at USD 77.9 billion in 2021, while headwear is expected to grow at the highest CAGR of 30.0% between 2021 and 2026. Wristwear gained importance because of its multi-functional applications. With the integration of advanced technologies, the wristwear segment currently provides opportunities for the wearable technology market and would continue to do so in the coming years as well. Moreover, wristwear, headwear & eyewear, and bodywear would be the best segments to invest in the next few years. Headwear & eyewear includes products such as AR and product and technology used in various high-class applications such as the industrial segment, video gaming, and entertainment.
APAC exhibit the highest CAGR during the forecast period
The wearable technology market in APAC is expected to grow significantly in the next few years, at a CAGR of 21.8% because of the increased demand for wearable products in the region. Moreover, APAC is considered as the manufacturing hub of the consumer electronics industry and is expected to provide ample growth opportunities for the wearable technology market. The key players in the market are Fitbit, Inc. (US), Apple, Inc. (US), Xiaomi Technology Co., Ltd. (China), Garmin Ltd. (US), and Samsung Electronics Co., Ltd. (South Korea).
Enterprise & industrial segment is expected to grow with high CAGR
The wearable technology market for the enterprise & industrial segment is expected to grow with the highest CAGR of 22.5% between 2021 and 2026. This growth is mainly attributed to the increasing demand for wearable scanners and computing devices in warehouses, logistics, and other operations where high speed and efficiency is essential.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/wearable-electronics-market-983.html