North America Wearable Technology Market Size, Share & Industry Trends Analysis Report By Device (Fitness, Smart Watches, Smart Glasses, Smart Clothing, and Others), By Product Type, By Application, By Country and Growth Forecast, 2023 - 2030
The North America Wearable Technology Market would witness market growth of 14.7% CAGR during the forecast period (2023-2030).
The wearable technology market witnessed increased adoption due to ease of use, flexibility, and convenience. Moreover, it provides real-time data monitoring, operational efficiency, and fitness tracking, further supporting market growth. The deployment of miniature sensors into fabrics, smart watches compatibility to interact with social media, in-store merchandising, and ease of payment with wearable are some classic examples of advancement in wearable technology. The adoption of smartwatches has revolutionized watches to possess the characteristic of being multifunctional. Soon, users are expected to prefer smartwatches to their analog counterparts due to technological advancements. Growth in technical features and advancements is expected to drive the market during the forecast period.
Factors affecting the market include the entry of major players, portable and convenient usage, increased healthcare awareness, and technological advancements. These significant factors have boosted the adoption of wearable devices across various industries, such as healthcare, defense, entertainment, industries and enterprises, and others. Wearable devices, like smartwatches, activity trackers, and smart clothing, are preferred among consumers owing to their various benefits, including portable usage and the latest technological advancements.
Many Canadian companies are integrating the technology into their employee wellness initiatives. By utilizing fitness trackers and smartwatches to encourage physical workouts and a healthy lifestyle, these programs seek to enhance the well-being and health of their employees. The presence of startups and entrepreneurial ventures in Canada contributes to the innovation and diversification of this technology. Startups often bring fresh ideas and solutions to the market. The above aspects will expand the market growth across the region in the upcoming years.
The US market dominated the North America Wearable Technology Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $49,560.4 million by 2030. The Canada market is experiencing a CAGR of 17.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 16.3% during (2023 - 2030).
Based on Device, the market is segmented into Fitness, Smart Watches, Smart Glasses, Smart Clothing, and Others. Based on Product Type, the market is segmented into Wrist Wear, Eyewear, Hearables, Neckwear, Bodywear, and Others. Based on Application, the market is segmented into Fitness & Sports, Consumer Applications, Entertainment, Healthcare, Lifestyle, Defense, and Enterprise. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Garmin Ltd., Motorola Solutions, Inc., Fitbit, Inc. (Google LLC), Nike, Inc., Adidas AG, LG Electronics, Inc. (LG Corporation), Sony Corporation and Huawei Technologies Co., Ltd. (Huawei investment & Holding Co., Ltd.)
Scope of the Study
Market Segments covered in the Report:
By Device
- Fitness
- Smart Watches
- Smart Glasses
- Smart Clothing
- Others
- Wrist Wear
- Eyewear
- Hearables
- Neckwear
- Bodywear
- Others
- Fitness & Sports
- Consumer Applications
- Entertainment
- Healthcare
- Lifestyle
- Defense
- Enterprise
- US
- Canada
- Mexico
- Rest of North America
- Apple, Inc.
- Samsung Electronics Co., Ltd. (Samsung Group)
- Garmin Ltd.
- Motorola Solutions, Inc.
- Fitbit, Inc. (Google LLC)
- Nike, Inc.
- Adidas AG
- LG Electronics, Inc. (LG Corporation)
- Sony Corporation
- Huawei Technologies Co., Ltd. (Huawei investment & Holding Co., Ltd.)
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- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Wearable Technology Market, by Device
- 1.4.2 North America Wearable Technology Market, by Product Type
- 1.4.3 North America Wearable Technology Market, by Application
- 1.4.4 North America Wearable Technology Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.3 Top Winning Strategies
- 4.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
- 4.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2022, Aug– 2023, Sep) Leading Players
- 4.4 Porter’s Five Forces Analysis
- Chapter 5. North America Wearable Technology Market by Device
- 5.1 North America Fitness Market by Country
- 5.2 North America Smart Watches Market by Country
- 5.3 North America Smart Glasses Market by Country
- 5.4 North America Smart Clothing Market by Country
- 5.5 North America Others Market by Country
- Chapter 6. North America Wearable Technology Market by Product Type
- 6.1 North America Wrist Wear Market by Country
- 6.2 North America Eyewear Market by Country
- 6.3 North America Hearables Market by Country
- 6.4 North America Neckwear Market by Country
- 6.5 North America Bodywear Market by Country
- 6.6 North America Others Market by Country
- Chapter 7. North America Wearable Technology Market by Application
- 7.1 North America Fitness & Sports Market by Country
- 7.2 North America Consumer Applications Market by Country
- 7.3 North America Entertainment Market by Country
- 7.4 North America Healthcare Market by Country
- 7.5 North America Lifestyle Market by Country
- 7.6 North America Defense Market by Country
- 7.7 North America Enterprise Market by Country
- Chapter 8. North America Wearable Technology Market by Country
- 8.1 US Wearable Technology Market
- 8.1.1 US Wearable Technology Market by Device
- 8.1.2 US Wearable Technology Market by Product Type
- 8.1.3 US Wearable Technology Market by Application
- 8.2 Canada Wearable Technology Market
- 8.2.1 Canada Wearable Technology Market by Device
- 8.2.2 Canada Wearable Technology Market by Product Type
- 8.2.3 Canada Wearable Technology Market by Application
- 8.3 Mexico Wearable Technology Market
- 8.3.1 Mexico Wearable Technology Market by Device
- 8.3.2 Mexico Wearable Technology Market by Product Type
- 8.3.3 Mexico Wearable Technology Market by Application
- 8.4 Rest of North America Wearable Technology Market
- 8.4.1 Rest of North America Wearable Technology Market by Device
- 8.4.2 Rest of North America Wearable Technology Market by Product Type
- 8.4.3 Rest of North America Wearable Technology Market by Application
- Chapter 9. Company Profiles
- 9.1 Apple, Inc.
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Regional Analysis
- 9.1.4 Research & Development Expense
- 9.1.5 Recent strategies and developments:
- 9.1.5.1 Product Launches and Product Expansions:
- 9.1.6 SWOT Analysis
- 9.2 Samsung Electronics Co., Ltd. (Samsung Group)
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 Recent strategies and developments:
- 9.2.4.1 Product Launches and Product Expansions:
- 9.2.5 SWOT Analysis
- 9.3 Sony Corporation
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expenses
- 9.3.5 Recent strategies and developments:
- 9.3.5.1 Partnerships, Collaborations, and Agreements:
- 9.3.5.2 Product Launches and Product Expansions:
- 9.3.6 SWOT Analysis
- 9.4 Garmin Ltd.
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental and Regional Analysis
- 9.4.4 Research & Development Expenses
- 9.4.5 Recent strategies and developments:
- 9.4.5.1 Product Launches and Product Expansions:
- 9.4.6 SWOT Analysis
- 9.5 Motorola Solutions, Inc.
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Regional & Segmental Analysis
- 9.5.4 Research & Development Expenses
- 9.5.5 Recent strategies and developments:
- 9.5.5.1 Product Launches and Product Expansions:
- 9.6 Fitbit, Inc (Google LLC)
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expense
- 9.6.5 Recent strategies and developments:
- 9.6.5.1 Partnerships, Collaborations, and Agreements:
- 9.6.5.2 Product Launches and Product Expansions:
- 9.6.6 SWOT Analysis
- 9.7 Nike, Inc.
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental Analysis
- 9.7.4 Recent strategies and developments:
- 9.7.4.1 Product Launches and Product Expansions:
- 9.7.4.2 Acquisition and Mergers:
- 9.7.5 SWOT Analysis
- 9.8 Adidas AG
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Regional Analysis
- 9.8.4 Research & Development Expense
- 9.8.5 SWOT Analysis
- 9.9 LG Electronics, Inc. (LG Corporation)
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Regional & Segmental Analysis
- 9.9.4 Research & Development Expenses
- 9.9.5 Recent strategies and developments:
- 9.9.5.1 Product Launches and Product Expansions:
- 9.9.6 SWOT Analysis
- 9.10. Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Segmental and Regional Analysis
- 9.10.4 Research & Development Expense
- 9.10.5 Recent strategies and developments:
- 9.10.5.1 Product Launches and Product Expansions:
- 9.10.6 SWOT Analysis
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