Global Consumer Smart Wearable Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The shipment volume of consumer smart wearables globally stood at 293.9 million units sold in 2021 alone, registering a CAGR of 19.58% during the period of 2022-2027. Wearable technology, an emerging trend, integrates electronics into daily activities and addresses the changing lifestyles with the ability to be worn on any part of the body. Factors such as the ability to connect to the internet and provide data exchange options between a network and a device are leading to the trend of wearable technology.
Key HighlightsThe Global Consumer Smart Wearable Market is highly competitive. The market has gained a competitive edge in recent years. Additionally, the players are being taken to gain a competitive edge in this fast-growing market, mainly catering to the demand from the millennial generation population. The companies are introducing new offerings and continuously investing in making partnerships and acquisitions along with product development to increase the market share.
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