IMARC Group, a leading market research company, has recently releases report titled,“Wearable Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The study provides a detailed analysis of the industry, including the wearable electronics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the wearable electronics market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 9.5 Billion |
| Market Forecast in 2028 | US$ 12.5 Billion |
| Growth rate (2023 to 2028) | CAGR of 4.7% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is the wearable electronics Market?
Wearable electronics are a type of modern technology that can be worn on the body as an accessory or integrated into clothing or other items. These devices include sensors, processors, and communication capabilities, allowing them to collect data, analyze it, and communicate with other devices or the internet. One of the most popular types of wearable electronics is the smartwatch. Smartwatches feature a touchscreen display, sensors for tracking fitness data, and the ability to connect to a smartphone or other device to receive notifications and control music playback. Other popular wearable devices include fitness trackers, smart glasses, and smart clothing.
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What are the growth prospects and trends in the wearable electronics industry?
The global market is primarily driven by continual technological advancements. Coupled with the emergence of the Internet of Things (IoT), machine learning (ML) and artificial intelligence (AI) are creating a positive market outlook. Apart from this, the widespread uptake of wearable electronics in numerous medical applications, such as remote monitoring of patients, tracking medication adherence and monitoring vital signs in real-time is providing a boost to the market on the global level. Furthermore, wearable electronics are also used as fashion accessories, with devices such as smart rings, smart glasses, and smart jewelry gaining popularity is significantly supporting the demand. The market is further driven by rapid urbanization and digitization, inflating disposable income levels of the masses and easy product availability via online and offline organized distribution channels.
What are the segments of wearable electronics market?
The report has segmented the market into the following categories:
Breakup by Product:
- Smart Bands
- Smart Watches
- Smart Clothing
- Smart Glasses
- Head Mounted Displays (HMD)
Breakup by Component:
- Networking and Positioning Components
- Power Supply Components
- Sensing Components
- Optoelectronic and Display Components
- Control Components
- Interface Components
Breakup by Application:
- Healthcare Applications
- Consumer Applications
- Sports and Fitness Applications
- Industrial and Commercial Applications
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Who are the key companies in the Global wearable electronics market?
- NuMetrex Adidas
- Apple Inc.
- BAE Systems plc
- CARRÉ TECHNOLOGIES INC
- Fitbit Service
- Garmin Ltd.
- Google LLC
- Aliph Brands LLC
- Kopin Corporation
- LG Electronics
- OHMATEX A/S
- OMsignal
- Nike Inc.
- Recon Instruments Inc.
- Rockwell Collins
- Samsung Electronics
- Seiko Epson Corporation
- Sony Corporation
- Vuzix Corporation
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