Dublin, May 12, 2022 (GLOBE NEWSWIRE) -- The "Wearable Electronics Market by Product and Applications - Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global wearable electronics market size was valued at $81.40 billion in 2020 and is projected to reach $459.58 billion by 2030, growing at a CAGR of 19.96% from 2021 to 2030.
The prominent factor that drives the wearable electronics market growth include lower device cost due to the emergence of a large number of manufacturers and rise in awareness among customers for health-related activities and an increase in usage amongst customers of varied age profiles for patient tracking systems. However, the surge in the number of customers adopting digital devices and the presence of internet mobility is expected to hinder the growth of the wearable electronics market trends. Conversely, a rise in investment in building a connected ecosystem is projected to offer remunerative wearable electronics market opportunities.
Wrist wear segment was the largest contributor of revenue in 2020 and is expected to grow at a CAGR of 17.5% from 2021 to 2030. Factor such as advancement and innovations in smart watches by the key players help drive the wearable electronics market. Body wear segment consumes 20.0% market share. The surge in adoption of wearable devices such as smart watches, band, headsets, gloves in manufacturing industry is one of the major factors for this growth.
The global wearable electronics market is segmented into product, application, and region. On the basis of product, the market is fragmented into wrist-wear, eye-wear, body-wear and other-wear. Moreover, the application segment is divided into healthcare, entertainment, industrial, and others.
Region wise, the wearable electronics market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). The market share in Asia-Pacific is expected to grow at a faster rate as compared to other regions. Factor such as rapid technological advancements & innovations and transformation from automated devices to autonomous devices due to the integration and advancement of IoT and AI technologies increases the demand for the wearable electronics industry.
COVID-19 Impact Analysis
The global wearable electronics market size has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have been stalled which, in turn has declined the market growth. In the present pandemic scenario, health has become an utmost priority for people so the demand for wearable products related to health and fitness such as fitness bands and smartwatches is expected to increase significantly.
Key Findings Of The Study
- In terms of revenue and volume, the wrist wear segment contributed the maximum wearable electronics segment in 2020, and is expected to maintain its lead throughout the wearable electronics market forecast period
- In 2020, North America accounted for over a 29% share globally, and is witnessing significant growth in the wearable electronics market share
Companies Mentioned:
- Adidas AG
- Apple, Inc.
- Fitbit, Inc.
- Google, Inc.
- Nike, Inc.
- Sony Corporation
- Samsung Electronics
- Garmin Ltd.
- Sensoria Inc.
- LG Electronics
Key Topics Covered:
Chapter 1: Introduction
1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits to the Stakeholders
1.4. Research Methodology
Chapter 2: Executive Summary
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Key Findings
3.3. Porter'S Five Forces Analysis
3.4. Top Player Positioning
3.5. Market Dynamics
3.6. Covid-19 Impact Analysis on the Market
Chapter 4: Wearable Electronics Market, by Product Type
4.1 Overview
4.2 Wrist Wear
4.3 Eye Wear
4.4 Body Wear
4.5 Others
Chapter 5: Wearable Electronics Market, by Application
5.1 Overview
5.2 Healthcare
5.3 Entertainment
5.4 Industrial
5.5 Others
Chapter 6: Wearable Electronics Market, by Region
6.1 Overview
6.2 North America
6.3 Europe
6.4 Asia-Pacific
6.5 LAMEA
Chapter 7: Company Landscape
7.1. Top Winning Strategies
7.2. Product Mapping of Top 10 Players
7.3. Competitive Dashboard
7.4. Competitive Heatmap
7.5 Key Development
For more information about this report visit https://www.researchandmarkets.com/r/qgcp9o
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