Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The "Wearable Electronics Industry Analysis and Forecast, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The worldwide market for wearable electronics, valued at approximately $32.5 billion in 2022, is poised for remarkable growth, projected to reach a substantial market size of $173.7 billion by 2030. This significant expansion is underpinned by an impressive Compound Annual Growth Rate (CAGR) of 23.3% over the analysis period from 2022 to 2030. Within this time frame, the Wristwear segment, a key sector of the market, is anticipated to record a 21.6% CAGR, ultimately reaching a market value of $89.2 billion by the conclusion of the analysis period. Simultaneously, the Eyewear segment is expected to experience substantial growth, with an estimated CAGR of 25.8% over the following eight years.
Strong Growth in the U.S. Market with an Estimated Value of $12.4 Billion
The wearable electronics market in the United States has gained significant traction, estimated to be worth $12.4 billion in 2022. This growth signifies a robust demand for wearable electronic devices and related technologies, reinforcing its pivotal role in the global market.
China's Market Projected to Expand Significantly with a 26.2% CAGR
China, as the world's second-largest economy, is set to witness a remarkable surge in its wearable electronics market. The country is forecasted to achieve a market size of approximately $19.7 billion by 2030, driven by an impressive CAGR of 26.2% during the analysis period from 2022 to 2030. China's dynamic growth underscores its central role in shaping global trends and developments within the wearable electronics industry.
Other Noteworthy Markets in Japan, Canada, and Germany
Several other geographic markets exhibit notable potential for contributing to the global expansion of the wearable electronics market. Japan and Canada are projected to experience steady growth, with forecasted CAGRs of 17.2% and 18.3%, respectively, over the period spanning from 2022 to 2030. In Europe, Germany is expected to maintain a significant growth rate, with an approximate 24.1% CAGR during the same analysis period.
Key Players in the Wearable Electronics Market
The wearable electronics market is characterized by intense competition and features numerous prominent players who are driving innovation and development within the industry. Notable competitors in this market, totaling 133 featured companies, include:
- ASUSTeK Computer, Inc.
- Fitbit, Inc.
- Nike, Inc.
- Google, Inc.
- Apple, Inc.
- Samsung Electronics Co. Ltd.
- Garmin Ltd.
- Sensoria Inc.
- LG Electronics
- Scosche Industries
These companies play a pivotal role in shaping the wearable electronics market's growth and evolution.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 628 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $32.5 Billion |
| Forecasted Market Value (USD) by 2030 | $173.7 Billion |
| Compound Annual Growth Rate | 23.3% |
| Regions Covered | Global |
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Wearable Technology: The Transition from Science Fiction to Reality
- Historical Journey of Wearable Technology
- Applications & Solutions of Wearable Electronics
- Wearable Electronics Market: Expanding Applications of Miniaturized, High Performance Wearable Devices Boosts Prospects
- Wrist-Wear Dominates Global Wearable Electronics Market
- Consumer Electronics: The Largest End-Use Market
- Developed Regions Lead, Developing Regions at the Forefront of Future Growth
- Wearable Electronics - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Smartwatch Market Worldwide: Breakdown of Unit Shipments (in %) by Company for 2019
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Expanding Internet Connectivity and Growing Consumer Demand for Advanced Wearable Devices Fuels Market Prospects
- Rapid Increase in Penetration Rate of Internet: 2018 Vs. 2009
- Rising Number of IoT and Connected Devices Drive Growth in Wearable Electronics Market
- World IoT Market: Number of Connected Devices (in Million) for Years 2016, 2018E, 2020P and 2022P
- Market Share Scenario of Connected Devices in Global Internet of Things (IoT) by Geographic Region: 2019 & 2024
- Growing Prominence of Wearable Tech in Healthcare Propels Market Growth
- Global Digital Healthcare Opportunity (in US$ Billion) for the Years 2017, 2019, 2022, 2024 and 2026
- Chronic Diseases Management: A Key Focus Area
- Need for Continuous Monitoring of Elderly Patients as Part of Chronic Disease Management Drives Growth: Number of People Aged 65+ Years in Million by Geographic Region for the Years 2019 and 2030
- Rising Consumer Awareness about Health & Fitness Spells Growth for Wearables
- Potential Role for Wearable Electronics in Patient Monitoring and Tracking Systems
- Smart Clothing Gains Acceptance in Neonatal Monitoring
- Wearables Technology Makes Diabetes Manageable
- Rising Diabetes Prevalence Presents Opportunity for Wearable Electronics Market: Number of Adults (20-79) with Diabetes (in Millions) by Region for 2019 and 2045
- ECG Monitoring Wearables: A Promising Area of Growth
- Increasing Significance of Wearables in Pain Management
- Wearable Sleep Monitoring Technology
- Wearable EEG Monitors
- Smart Medical Textile Garments: An Emerging Area of Interest
- Wrist Wear: A Revolutionary Wearable Phenomenon Fuels Growth
- Hybrid Smartwatch Sales Drive Market Growth
- Smart Glasses for Multiple Industry Applications
- With Wearable Computing Gaining Mainstream Attention, the Time is Ripe for Mobility in the Realm of Augmented Reality
- Growing Technology & Commercialization Activity Surrounding AR to Benefit Development of Smart AR Glasses: Global Market for Augmented Reality Hardware, Software & Applications (in US$ Million) for the Years 2015, 2018 & 2022
- Global % Share Breakdown of Wearable AR Devices in the Market by Form Factor (2019)
- Activity Trackers to Lead Growth in Wearable Sports and Fitness Devices Market
- A Comparative Review of Popular Fitness Trackers
- Increasing Obesity Levels Underpin Market Growth
- Global Obesity Epidemic: Percentage of Overweight, Obese, and Severely Obese Adults for 2014 & 2025
- Smart Clothing Transforming the Wearable Technology Products Market
- Smart Fabrics: The Next Big Wave of Wearables
- Novel Opportunities for Smart Fabrics across Various Sectors
- Healthcare
- Transportation
- Sports & Fitness
- Workwear
- Microencapsulation & Nanotechnologies: Harbingers of Future Growth
- Hearables, the Smart Headphones, Come to the Fore
- Increasing Popularity of Wearables in Infotainment & Gaming Industry
- Enterprise Applications of Wearables Present Growth Potential for Wearable Electronics Market
- Wearable Technology Boosts CRM
- Rising Adoption of Wearable Technology in Industrial Sector Drives Growth
- Cloud Computing Drives the Momentum in Wearable Electronics Market
- Combination of AI and Wearable Technology Transforms the Wearable Electronics Market
- Global Market for Wearable AI in US$ Billion for the Years 2018, 2020, 2022 and 2024
- Development of Low Power Electronics: An Opportunity for Wearable Electronics Market
- Ultra-low Power Microcontrollers Extend Battery Life of High-Performing, New Generation Wearable Devices: Global Ultra-low Power Microcontroller Market (In US$ Billion) for the Years 2018, 2020, 2022 & 2025
- A Peek into Enabling Technologies
- Technical Aspects of Wearable Devices
- Sensor Integration for Advanced Wearable Technology
- Battery Power: An Important Criterion for Success
- Technology Advancements Power Wearable Electronics Market
- Collaboration Vital for Innovations in Wearable Tech
- Key Challenges Confronting Wearable Electronics Market
- Common Issues with Wearable Electronics
- Wearables Attract Venture Capital Funding
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/cy31jd
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