Wearable Computing Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Wearable Computing Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global wearable computing devices market size reached US$ 54.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 162.6 Billion by 2028, exhibiting a growth rate (CAGR) of 17.3% during 2023-2028.

Wearable computing devices comprise watches, strips, hats, exoskeletons, vests, shirts, bags, and head-up displays (HUDs) that are worn on the body to monitor calories burnt, sleeping pattern and heart rate of the user. These devices have microchips, wireless communication capabilities, and various sensors for collecting data and enhancing the overall user experience. They also enable the wearer to take calls, browse different internet applications, and read emails and text messages. Besides this, as they offer flexibility, portability, and hands-free use, the demand for wearable computing devices is escalating across the globe.

Wearable Computing Devices Market Trends:
Rising digitalization across the globe represents one of the key factors propelling the growth of the market. Moreover, wearable computing devices can provide remote assistance and expertise to field workers through digital data, audio, and image. These devices are utilized by sports personnel for activity tracking, goal monitoring, direction, data and location sharing, and optimum performance management. Besides this, wearable computing devices, such as biosensors, fitness trackers, smart health watches, electrocardiography (ECG) and blood pressure monitors, find extensive application in the healthcare industry. They offer a convenient and noninvasive alternative to medical care in clinical settings and enable remote health monitoring of patients. This, coupled with the increasing geriatric population, is positively influencing the market. Apart from this, there is a significant rise in the use of wearable smart glasses in the education sector, which aid in telemonitoring, documentation of lectures, preparing an on-site report, capturing essential points as images, and evaluating student concentration. Furthermore, the rapid expansion of information and communications technology (ICT) is projected to stimulate the growth of the market in the coming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global wearable computing devices market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, connectivity type and application.

Breakup by Product Type:

Smart Watches
Head Mounted Displays
Smart Clothing
Ear Worn
Fitness Trackers
Body Worn Camera
Exoskeleton
Others

Breakup by Connectivity Type:

Bluetooth
Wi-Fi
4G/5G
Others

Breakup by Application:

Fitness and Wellness
Medical and Healthcare
Infotainment
Industrial and Defense
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Apple Inc., Ekso Bionics Holdings Inc., Fossil Group Inc., Garmin Ltd., GoPro Inc., Huawei Technologies Co. Ltd., LG Electronics Inc., OMRON Corporation, Samsung Electronics Co. Ltd., Sony Corporation and Transcend Information Inc.

Key Questions Answered in This Report:
How has the global wearable computing devices market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global wearable computing devices market?
What are the key regional markets?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the connectivity type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global wearable computing devices market and who are the key players?
What is the degree of competition in the industry?