Chicago, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Markets N Research has recently released expansive research on Global Smart Wearable Bands Market with 100+ market data Tables, Pie Chart, and Graphs & Figures spread through Pages and easy to understand detailed analysis. The report endows with wide-ranging statistical analysis of the market’s continuous developments, capacity, production, production value, cost/profit, supply/demand and import/export. This market report provides best solutions for strategy development and implementation depending on client’s needs to extract tangible results. Teams of experienced and consummate market research professionals persistently track key industries to spot key developments, unmet needs and possible growth opportunities. A numerous markets, marketing strategies, trends, future products and rising opportunities have been considered while studying market for preparing this Smart Wearable Bands report. This market research report serves the clients by providing data and information on their business scenario with which they can stay ahead of the competition in today's rapidly changing business environment.
The global smart wearable bands market is expected to grow strongly, reaching USD 58.41 million by 2028. As per the report titled "Smart Wearable Bands Market Size, Share & COVID-19 Impact Analysis, By Product Type (With Screen and Without Screen), By Operating System (Android, Windows, iOS and Others), By Distribution Channel (Specialist Retailers, Company Outlets, Online and Others) and Regional Forecasts, 2023-2030" observes that the market size in 2021 stood at USD 45.9 million and USD 58.41 million in 2028. The market is expected to exhibit a CAGR of 4.10% during the forecast period.
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Smart Wearable Bands Market Analysis:
The growing awareness of people for health and fitness is one of the main factors driving the global smart wearable band market growth. As a result, the demand for fitness accessories like smart bands has significantly increased. The need for reminders that promote healthy living, optimal sleep patterns, and connectedness has also been prompted by changing lifestyles and stressful schedules. Additionally, the market is being stimulated by expanding Internet of Things (IoT) and better internet accessibility, which have inspired customers to incorporate smart wearable bands into their daily lives. In addition, smart band prices have fallen in recent years, making them more accessible to the general public.
Report Scope:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023 to 2030 CAGR | 4.10 % |
| 2028 Value Projection | 58.41 million |
| Base Year | 2022 |
| Market Size in 2021 | 45.9 million |
| Historical Data for | 2016 - 2021 |
| Segments covered | By Product Type, By Operating System, By Distribution Channel and By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
List Of Key Companies Profiled:
- Fitbit
- Garmin
- Jawbone
- Samsung Electronics
- Apple
- Xiaomi
- Lenovo
- LG
- Nike
- Razer
- Sony
Fossil Unveiled its Gen 6 Touchscreen Smartwatch, a New Generation of Smart Wearable Band
In August 2021, Gen 6 Touchscreen Smartwatch, a new generation of the smart wearable band from Fossil, was unveiled. A new Qualcomm Snapdragon chip called the Wear 4100+ powers this smartwatch, which offers effective power consumption, quicker application launch times, and extremely responsive user experiences.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the smart wearable bands market plan acquisitions to improve their brand recognition globally. For instance, in July 2021, Garmin unveiled two smartwatches focusing on health in India. AMOLED displays with Gorilla Glass 3 protection, a health snapshot feature, and more than 25 built-in sports applications are among the features of the Venu 2S and Venu 2 smartwatches.
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Driving Factors:
- Growing Interest in Fitness and Health will Increase Demand for Smart Wearable Bands
The market is expected to develop as there is a growing awareness of the need to maintain fitness and health. These bands have advanced significantly from being merely simple pedometers to becoming intelligent gadgets with a colored display that track sleep patterns, measure heart rates, activity monitor, and others. The fitness business in India, which is still in its infancy, anticipates significant growth, particularly among the younger population. In order to reduce the negative impacts of a busy lifestyle, people are now more likely to frequent health clubs and gyms. Additionally, frequent exercise lowers tension, anxiety, and sadness. People are being pushed toward exercise activities as well as a nutritious diet by rising health concerns. They can track their workouts using smart wearable bands, which is driving up demand for fitness-tracking goods. Thus, it is projected that rising health consciousness will propel market expansion.
- Progressive Technological Advances Supporting Market Expansion
The global market for smart wearable bands has been pushed by the rising urbanization rates and the desire for aesthetically pleasing advanced feature items that can better meet consumers' daily needs, such as time schedules. A large portion of the millennial population has also begun to use smart wearable bands due to increased spending on their standard of luxury and frequent work hour tracking. Millennial spending is anticipated to rise across several major nations, according to the International Council of Shopping Centers (ICSC).
Restraining Factors:
- Security and Privacy Issues Could Restrain Market Expansion
Smart wearable bands primarily capture personal data about their users, such as their weight, date of birth, photographs, GPS coordinates, social media accounts, steps, heart rate, and background data that the gadget uses. Data theft is the main worry, in addition to the extremely personal information. Leaving them vulnerable to invasions of their privacy that could hurt them. However, users of smart wearable bands are probably unaware of the privacy implications of how the data may be mishandled if gathered over time or combined with other data. For instance, in 2018, Strava posted a heat map of anonymous user fitness tracking data to its website. Therefore, the market's expansion is anticipated to be hampered by the above security concerns.
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Global Smart Wearable Bands Market Segmentations:
Global Smart Wearable Bands Market By Product Type:
- With Screen
- Without Screen
Global Smart Wearable Bands Market By Operating System:
- Android
- Windows
- iOS
- Others
Global Smart Wearable Bands Market By Distribution Channel:
- Specialist Retailers
- Company Outlets
- Online
- Others
Smart Wearable Bands Market: Key Players
The research study includes profiles of leading companies operating in the global Smart Wearable Bands market. Key players profiled in the report include: #fitbit , #garmin , #samsungelectronics , #apple , #xiaomi , #Lenovo , #LG , #Nike , #Razer , #Sony
The competition among the players is expected to get intense with the next few years with the growing focus of the players on the research and development activities with new launches.
Global Smart Wearable Bands Market Regional Insights:
North America is projected to hold the largest share of the smart wearable bands market over the forecast period, driven by a high adoption rate of the newest smart wearable technology and increased disposable income. North America is regarded as a hub for technological innovation worldwide. The demand for cutting-edge, multi-functional devices has expanded due to the inclusion of unique technologies. Additionally, the presence of well-known firms like Apple, Garmin, and Fitbit is advancing the U.S. market for smart wearable bands. The popularity of Apple, Inc.'s smartwatch series among millennials has significantly increased demand for wearable bands in the U.S. Additionally; it is anticipated that increased sedentary lifestyle-related health issues may increase product demand.
Further Report Findings
- The market in North America is expected to gain a huge portion of the global smart wearable bands market share in the coming years. The increased prevalence of chronic diseases and the growing concern about health issues are responsible for this region's supremacy.
- The demand for smart wearable bands in this area is projected to be driven by rising technology adoption, a rise in the acceptability of smart gadgets, and many advantages of fitness monitoring devices.
- In the Asia Pacific, the growth in this region is primarily driven by the young generation's tendency to acquire tracking equipment. Key market regions Japan, China, and India, are anticipated to see the fastest market expansion.
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Smart Wearable Bands Market Report Answers the Following Questions:
- How much revenue will the Smart Wearable Bands market generate by the end of the forecast period?
- Which market segment is expected to have the maximum market share?
- What are the influencing factors and their impact on the Smart Wearable Bands market?
- Which regions are currently contributing the maximum share of the overall Smart Wearable Bands market?
- What indicators are likely to stimulate the Smart Wearable Bands market?
- What are the main strategies of the major players in the Smart Wearable Bands market to expand their geographic presence?
- What are the main advances in the Smart Wearable Bands market?
- How do regulatory standards affect the Smart Wearable Bands market?
Table of Content
Chapter 1: Preface
Chapter 2: Report Summary
Chapter 3: COVID 19 Impact Analysis
Chapter 4: Global Smart Wearable Bands Market, By Product Type Segment Analysis
Chapter 5: Global Smart Wearable Bands Market, By Operating System Segment Analysis
Chapter 6: Global Smart Wearable Bands Market, By Distribution Channel Segment Analysis
Chapter 7: Smart Wearable Bands Market – Regional Analysis, 2022 – 2030
Chapter 8: Smart Wearable Bands Market – Industry Analysis
Chapter 9: Competitive Landscape
Chapter 10: Company Profiles
Chapter 11: Research Methodology
Chapter 12: Questionnaire
Chapter 13: Related Reports
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