The global wearable technology market size is expected to be worth around US$ 125.16 billion by 2030, according to a new report by Vision Research Reports.
The global wearable technology market size was valued at US$ 42.5 billion in 2020 and is anticipated to grow at a CAGR of 15.8% during forecast period 2021 to 2030.
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Report Coverage
| Report Scope | Details |
| Market Size | USD 125.16 billion by 2030 |
| Growth Rate | CAGR of 15.8% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Alphabet Inc.; Xiaomi Corporation; Samsung Electronics Co. Ltd.; Garmin Ltd.; Apple Inc. |
Growth Factors
The rapid increase in demand for multimedia devices and smartphones, coupled with the surge in the adoption of fitness trackers and health-based wearables, is anticipated to propel the market for wearable technology. Furthermore, increasing health awareness among consumers is leading to increased interest in fitness activities such as cycling, running, and walking. Fitness and activity tracking devices provide a way of monitoring progress and analyzing the physiological data gathered, thereby contributing to market growth.
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Key Players
Market Segmentation
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In this study, the years considered to estimate the market size of Wearable Technology are as follows:
Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
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