Dublin, March 01, 2024 (GLOBE NEWSWIRE) — The “Wearable Electronics – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Wearable Electronics Market to Reach $173.7 Billion by 2030
The global market for Wearable Electronics estimated at US$32.5 Billion in the year 2022, is projected to reach a revised size of US$173.7 Billion by 2030, growing at a CAGR of 23.3% over the analysis period 2022-2030. Wristwear, one of the segments analyzed in the report, is projected to record 21.6% CAGR and reach US$89.2 Billion by the end of the analysis period. Growth in the Eyewear segment is estimated at 25.8% CAGR for the next 8-year period.
Wearable electronics have witnessed a historical journey, expanding their applications and solutions with miniaturized, high-performance devices. Wrist-worn devices dominate the global market, with consumer electronics representing the largest end-use sector. While developed regions lead in adoption, developing regions show potential for future growth.
Competition in the wearable electronics market is intense, with key competitors vying for market share. The competitive market presence of players worldwide varies, categorized as strong, active, niche, or trivial. Recent trends also reflect the impact of COVID-19 and the potential effects of a global recession on this burgeoning industry.
The U.S. Market is Estimated at $12.4 Billion, While China is Forecast to Grow at 26.2% CAGR
The Wearable Electronics market in the U.S. is estimated at US$12.4 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$19.7 Billion by the year 2030 trailing a CAGR of 26.2% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.2% and 18.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 24.1% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 628 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $32.5 Billion |
| Forecasted Market Value (USD) by 2030 | $173.7 Billion |
| Compound Annual Growth Rate | 23.3% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Wearable Technology: The Transition from Science Fiction to Reality
- Historical Journey of Wearable Technology
- Applications & Solutions of Wearable Electronics
- Wearable Electronics Market: Expanding Applications of Miniaturized, High Performance Wearable Devices Boosts Prospects
- Wrist-Wear Dominates Global Wearable Electronics Market
- Consumer Electronics: The Largest End-Use Market
- Developed Regions Lead, Developing Regions at the Forefront of Future Growth
- Wearable Electronics – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Smartwatch Market Worldwide: Breakdown of Unit Shipments (in %) by Company for 2019
- Impact of Covid-19 and a Looming Global Recession
MARKET TRENDS & DRIVERS
- Expanding Internet Connectivity and Growing Consumer Demand for Advanced Wearable Devices Fuels Market Prospects
- Rapid Increase in Penetration Rate of Internet
- Rising Number of IoT and Connected Devices Drive Growth in Wearable Electronics Market
- World IoT Market: Number of Connected Devices (in Million) for Years 2016, 2018E, 2020P and 2022P
- Market Share Scenario of Connected Devices in Global Internet of Things (IoT) by Geographic Region
- Growing Prominence of Wearable Tech in Healthcare Propels Market Growth
- Global Digital Healthcare Opportunity (in US$ Billion) for the Years 2017, 2019, 2022, 2024 and 2026
- Chronic Diseases Management: A Key Focus Area
- Need for Continuous Monitoring of Elderly Patients as Part of Chronic Disease Management Drives Growth
- Rising Consumer Awareness about Health & Fitness Spells Growth for Wearables
- Potential Role for Wearable Electronics in Patient Monitoring and Tracking Systems
- Smart Clothing Gains Acceptance in Neonatal Monitoring
- Wearables Technology Makes Diabetes Manageable
- Rising Diabetes Prevalence Presents Opportunity for Wearable Electronics Market: Number of Adults (20-79) with Diabetes (in Millions) by Region for 2019 and 2045
- ECG Monitoring Wearables: A Promising Area of Growth
- Increasing Significance of Wearables in Pain Management
- Wearable Sleep Monitoring Technology
- Wearable EEG Monitors
- Smart Medical Textile Garments: An Emerging Area of Interest
- Wrist Wear: A Revolutionary Wearable Phenomenon Fuels Growth
- Hybrid Smartwatch Sales Drive Market Growth
- Smart Glasses for Multiple Industry Applications
- With Wearable Computing Gaining Mainstream Attention, the Time is Ripe for Mobility in the Realm of Augmented Reality
- Growing Technology & Commercialization Activity Surrounding AR to Benefit Development of Smart AR Glasses
- Activity Trackers to Lead Growth in Wearable Sports and Fitness Devices Market
- A Comparative Review of Popular Fitness Trackers
- Increasing Obesity Levels Underpin Market Growth
- Smart Clothing Transforming the Wearable Technology Products Market
- Smart Fabrics: The Next Big Wave of Wearables
- Novel Opportunities for Smart Fabrics across Various Sectors
- Healthcare
- Transportation
- Sports & Fitness
- Workwear
- Microencapsulation & Nanotechnologies: Harbingers of Future Growth
- Hearables, the Smart Headphones, Come to the Fore
- Increasing Popularity of Wearables in Infotainment & Gaming Industry
- Enterprise Applications of Wearables Present Growth Potential for Wearable Electronics Market
- Wearable Technology Boosts CRM
- Rising Adoption of Wearable Technology in Industrial Sector Drives Growth
- Cloud Computing Drives the Momentum in Wearable Electronics Market
- Combination of AI and Wearable Technology Transforms the Wearable Electronics Market
- Global Market for Wearable AI in US$ Billion for the Years 2018, 2020, 2022 and 2024
- Development of Low Power Electronics: An Opportunity for Wearable Electronics Market
- Ultra-low Power Microcontrollers Extend Battery Life of High-Performing, New Generation Wearable Devices: Global Ultra-low Power Microcontroller Market (In US$ Billion) for the Years 2018, 2020, 2022 & 2025
- A Peek into Enabling Technologies
- Technical Aspects of Wearable Devices
- Sensor Integration for Advanced Wearable Technology
- Battery Power: An Important Criterion for Success
- Technology Advancements Power Wearable Electronics Market
- Collaboration Vital for Innovations in Wearable Tech
- Key Challenges Confronting Wearable Electronics Market
- Common Issues with Wearable Electronics
- Wearables Attract Venture Capital Funding
FOCUS ON SELECT PLAYERS(Total 133 Featured)
- Apple, Inc. (USA)
- Bose Corporation (USA)
- Epson America, Inc. (USA)
- Fitbit, Inc. (USA)
- Garmin Ltd. (USA)
- Huawei Technologies Co., Ltd. (China)
- Infineon Technologies AG (Germany)
- LG Electronics, Inc. (South Korea)
- Lifesense Group B.V. (The Netherlands)
- Lumus Ltd. (Israel)
- Misfit, Inc. (USA)
- Qualcomm Technologies, Inc. (USA)
- ReSound (Denmark)
- Samsung Electronics Co., Ltd. (South Korea)
- Shimmer Research, Inc. (Ireland)
- Sony Corporation (Japan)
- Texas Instruments, Inc. (USA)
- Titan Industries Ltd. (India)
- Vuzix Corporation (USA)
- Xiaomi Corporation (China)
For more information about this report visit https://www.researchandmarkets.com/r/n5gjo2
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- Wearable Electronics Market
