Australia Wearables Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The wearable market in Australia is expected to register a CAGR of 14.5% during the forecast period from 2021 - 2026. Smart wearables offer a multitude of features, which include fitness tracking, managing daily tasks, checking emails and making contactless payments, etc. Hence the change of consumer lifestyle and rising awareness of advanced technology will influence the growth of this market.
Key HighlightsThe major vendors in this market are holding 60 to 70% of the market share. Hence the market concentration for this market is high. Moreover, market players are moving towards providing technologically integrated products through the massive investment in their research and development section, which have enabled them to gain a competitive advantage over the other competitors in this market.
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