Wearable Technology Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Wearable Technology Market
The wearable technology market size was valued at USD 120.54 billion in 2023, and the market is now projected to grow from USD 157.94 billion in 2024 to USD 1,415.26 billion by 2032, exhibiting a CAGR of 31.5% during the forecast period of 2024-2032.
The COVID-19 pandemic created significant opportunities on the wearable technology market growth as curbing coronavirus outbreak was prioritized. Interest for wearable technology dropped during the Coronavirus pandemic prompting a decrease in deals. A review directed in the main seven day stretch of April 2021 got reactions from a sum of 3,312 people traversing across 15 nations investigating buying expectations. In any case, wearable innovation devices were the most un-leaned toward by respondents because of seen overt repetitiveness during Coronavirus lockdowns. Besides, worldwide interest for wearable technology stayed drowsy as people focused on necessities over want. Wearable technology, for example, smartwatches, wristbands, and trackers saw pitiful extension in the midst of the disavowal of grants for outside wellness exercises, subsequently bringing about diminished deals of these devices.
The wearable technology market share globally has been contributed due to the Rising Reception of Smart Attire. Smart attire is supposed to observe expanded standard shopper reception. The move is frequently powered by joint efforts among design and tech brands, for example, the Levi Suburbanite x Jacquard Jacket, which permits clients to control their cell phone to get to research administrations or use signals to control the telephone and track clients' Uber area. As per an examination review in 2023, the smart clothing area holds 9% offer in the improvement of wearable trends, where individuals are becoming mindful about wellness and activity patterns.
Furthermore, there’s been a notable trend of AR Wearable. Today, most wearable technology has various items available to suit each financial plan. Wearables will probably be coordinated toward the way of life as opposed to the business or innovation market. For example, Snapchat's Exhibitions is firmly incorporated with Snapchat's social sharing and informing administration. It permits clients to transfer pictures and recordings straightforwardly on the application from the client's gadget and is loaded with fun AR innovation that has earned prevalence. Expanding coordination of Augmented Reality (AR) and Virtual Reality (VR) advancements with advanced and actual scenes assists people with interfacing with the inexorably canny world around them.
Comprehensive Wearable Technology Market
Wearable technology is a type of gadget or electronic gadget that can be worn on the body (for example watch, coat, belt), embedded in the body (for example tracker pulse screen, anti-conception medication chip) or now and again body tattoo (for example shining or stained tattoo). In the extension, we have considered wearable innovation given by central participants like Samsung Gathering, Apple, Inc., Sony Organization, Microsoft Enterprise, Fossil Gathering, and Huawei Advancements, among others. Wearable innovation is an aggregate term for a gathering of devices intended to be worn the entire day, for example, smartwatches and wellness trackers. These devices are oftentimes called wearables for short.
North America held the biggest wearable technology market share in 2022. The locale is a center point for mechanical developments and headways. The locale's solid exploration and improvement capacities have prompted state of the art wearable technology consolidating progressed sensors, processors, and availability highlights. The developing spotlight on wellbeing and wellness in North America has filled the interest for wearable technology that track and screen different wellbeing measurements, for example, pulse, rest design, and actual work. Purchasers in the locale are excited about taking on advances that can assist them with driving better ways of life.
The top players in the market play a crucial role in the wearable technology market assuring industrial prospectus growth and setting market standards. These players include, list players these market players provide a level-playing competitive landscape.
In July 2023, Samsung Gadgets and the Public Rest Establishment have moved forward their association to battle the ascent in rest problems utilizing new advancements. The tech organization will utilize NSF data to work on its wearable technology.
Segmentation Table
Wearable Technology Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Growth Rate CAGR of 31.5% from 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion)
Segmentation By Type, End-User, and Region
By Type Smart Glasses
VR Headsets
Smart Jackets and Smart Rings
Smart Watches
Fit Bands
By End-User
Health and Fitness
BFSI
Gaming and Entertainment
Fashion
Travel
Education
Logistics & Warehouse
By Region North America (By Type, End-User, and Country)
- U.S. (By Type and End-User)
- Canada (By Type and End-User)
Europe (By Type, End-User, and Country/Sub-region)
- U.K. (By Type and End-User)
- Germany (By Type and End-User)
- France (By Type and End-User)
- Italy (By Type and End-User)
- Spain (By Type and End-User)
- Rest of Europe (By Type and End-User)
Asia Pacific (By Type, End-User, and Country/Sub-region)
- China (By Type and End-User)
- Japan (By Type and End-User)
- India (By Type and End-User)
- Australia (By Type and End-User)
- Rest of Asia Pacific (By Type and End-User)
Latin America (By Type, End-User, and Country/Sub-region)
- Brazil (By Type and End-User)
- Mexico (By Type and End-User)
- Rest of Latin America (By Type and End-User)
Middle East & Africa (By Type, End-User, and Country/ Sub-region)
- GCC (By Type and End-User)
- South Africa (By Type and End-User)
- Rest of Middle East & Africa (By Type and End-User)
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Wearable Technology Key Players Market Share/Ranking, 2023
- 5. Global Wearable Technology Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Type (USD)
- 5.2.1. Smart Glasses
- 5.2.2. VR Headsets
- 5.2.3. Smart Jackets and Smart Rings
- 5.2.4. Smart Watches
- 5.2.5. Fit Bands
- 5.3. By Technology (USD)
- 5.3.1. IoT Based
- 5.3.2. AR and VR
- 5.3.3. Others
- 5.4. By End Use (USD)
- 5.4.1. Health and Fitness
- 5.4.2. BFSI
- 5.4.3. Gaming and Entertainment
- 5.4.4. Fashion
- 5.4.5. Travel
- 5.4.6. Education
- 5.4.7. Logistics & Warehouse
- 5.5. By Region (USD)
- 5.5.1. North America
- 5.5.2. South America
- 5.5.3. Europe
- 5.5.4. Asia Pacific
- 5.5.5. Middle East & Africa
- 6. North America Wearable Technology Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Type (USD)
- 6.2.1. Smart Glasses
- 6.2.2. VR Headsets
- 6.2.3. Smart Jackets and Smart Rings
- 6.2.4. Smart Watches
- 6.2.5. Fit Bands
- 6.3. By Technology (USD)
- 6.3.1. IoT Based
- 6.3.2. AR and VR
- 6.3.3. Others
- 6.4. By End Use (USD)
- 6.4.1. Health and Fitness
- 6.4.2. BFSI
- 6.4.3. Gaming and Entertainment
- 6.4.4. Fashion
- 6.4.5. Travel
- 6.4.6. Education
- 6.4.7. Logistics & Warehouse
- 6.4.8. Others
- 6.5. By Country (USD)
- 6.5.1. U.S.
- 6.5.1.1. By End Use
- 6.5.2. Canada
- 6.5.2.1. By End Use
- 6.5.3. Mexico
- 6.5.3.1. By End Use
- 7. South America Wearable Technology Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Type (USD)
- 7.2.1. Smart Glasses
- 7.2.2. VR Headsets
- 7.2.3. Smart Jackets and Smart Rings
- 7.2.4. Smart Watches
- 7.2.5. Fit Bands
- 7.3. By Technology (USD)
- 7.3.1. IoT Based
- 7.3.2. AR and VR
- 7.3.3. Others
- 7.4. By End Use (USD)
- 7.4.1. Health and Fitness
- 7.4.2. BFSI
- 7.4.3. Gaming and Entertainment
- 7.4.4. Fashion
- 7.4.5. Travel
- 7.4.6. Education
- 7.4.7. Logistics & Warehouse
- 7.5. By Country (USD)
- 7.5.1. Brazil
- 7.5.1.1. By End Use
- 7.5.2. Argentina
- 7.5.2.1. By End Use
- 7.5.3. Rest of South America
- 8. Europe Wearable Technology Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Type (USD)
- 8.2.1. Smart Glasses
- 8.2.2. VR Headsets
- 8.2.3. Smart Jackets and Smart Rings
- 8.2.4. Smart Watches
- 8.2.5. Fit Bands
- 8.3. By Technology (USD)
- 8.3.1. IoT Based
- 8.3.2. AR and VR
- 8.3.3. Others
- 8.4. By End Use (USD)
- 8.4.1. Health and Fitness
- 8.4.2. BFSI
- 8.4.3. Gaming and Entertainment
- 8.4.4. Fashion
- 8.4.5. Travel
- 8.4.6. Education
- 8.4.7. Logistics & Warehouse
- 8.5. By Country (USD)
- 8.5.1. U.K.
- 8.5.1.1. By End Use
- 8.5.2. Germany
- 8.5.2.1. By End Use
- 8.5.3. France
- 8.5.3.1. By End Use
- 8.5.4. Italy
- 8.5.4.1. By End Use
- 8.5.5. Spain
- 8.5.5.1. By End Use
- 8.5.6. Russia
- 8.5.6.1. By End Use
- 8.5.7. Benelux
- 8.5.7.1. By End Use
- 8.5.8. Nordics
- 8.5.8.1. By End Use
- 8.5.9. Rest of Europe
- 9. Middle East & Africa Wearable Technology Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Type (USD)
- 9.2.1. Smart Glasses
- 9.2.2. VR Headsets
- 9.2.3. Smart Jackets and Smart Rings
- 9.2.4. Smart Watches
- 9.2.5. Fit Bands
- 9.3. By Technology (USD)
- 9.3.1. IoT Based
- 9.3.2. AR and VR
- 9.3.3. Others
- 9.4. By End Use (USD)
- 9.4.1. Health and Fitness
- 9.4.2. BFSI
- 9.4.3. Gaming and Entertainment
- 9.4.4. Fashion
- 9.4.5. Travel
- 9.4.6. Education
- 9.4.7. Logistics & Warehouse
- 9.5. By Country (USD)
- 9.5.1. Turkey
- 9.5.1.1. By End Use
- 9.5.2. Israel
- 9.5.2.1. By End Use
- 9.5.3. GCC
- 9.5.3.1. By End Use
- 9.5.4. North Africa
- 9.5.4.1. By End Use
- 9.5.5. South Africa
- 9.5.5.1. By End Use
- 9.5.6. Rest of MEA
- 10. Asia Pacific Wearable Technology Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Type (USD)
- 10.2.1. Smart Glasses
- 10.2.2. VR Headsets
- 10.2.3. Smart Jackets and Smart Rings
- 10.2.4. Smart Watches
- 10.2.5. Fit Bands
- 10.3. By Technology (USD)
- 10.3.1. IoT Based
- 10.3.2. AR and VR
- 10.3.3. Others
- 10.4. By End Use (USD)
- 10.4.1. Health and Fitness
- 10.4.2. BFSI
- 10.4.3. Gaming and Entertainment
- 10.4.4. Fashion
- 10.4.5. Travel
- 10.4.6. Education
- 10.4.7. Logistics & Warehouse
- 10.5. By Country (USD)
- 10.5.1. China
- 10.5.1.1. By End Use
- 10.5.2. India
- 10.5.2.1. By End Use
- 10.5.3. Japan
- 10.5.3.1. By End Use
- 10.5.4. South Korea
- 10.5.4.1. By End Use
- 10.5.5. ASEAN
- 10.5.5.1. By End Use
- 10.5.6. Oceania
- 10.5.6.1. By End Use
- 10.5.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Samsung Group
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Apple, Inc.
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Fitbit, Inc.
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Sony Corporation
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Xiaomi
- 11.5.1.
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. LG Electronics
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Huawei
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Microsoft Corporation
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Garmin Ltd
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Fossil Group
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
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