Pune, India, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The wearable technology market is a rapidly growing industry with a lot of potential for future growth. Technological developments are helping to shape the future of wearable technology and driving growth in the market. Rising awareness and focus towards health is driving the global demand in the market. As technology continues to advance, the market share will increase rapidly during the forecast years. Fortune Business Insights covers the detailed forecast in a report titled, “Wearable Technology Market Forecast, 2023-2030”
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Wearable technology is commonly known as wearables. They are electronic products or devices which are hand free and can be worn as an accessory. The advanced device is microprocessor powered, and it can send and receive data via the internet. Additionally, it has practical uses on a real-time basis. The global wearable technology market size is set to expand due to the rising popularity of the internet of things (loT) and the increasing occurrence of obesity & chronic diseases.
Notable Industry Development:
Shimmer Research has released Verisense Pulse+. It is a new sensor for the Verisense platform. Photoplethysmogram (PPG), inertial measurement unit, and galvanic skin response (GSR) are all included in Verisense Pulse+ (IMU).
List of Key Players Mentioned in the Report:
- Rockwell Automation
- STMicroelectronics
- ON Semiconductor
- Micron Optics
Factors affecting the growth of wearable technology market (2023-2030):
- Growing Awareness of Health and Fitness: With increasing focus on health and wellness, people are becoming more interested in wearable technology devices that can help them track their fitness and wellness metrics.
- Technological Advances: Advances in technology are making wearable devices more sophisticated and more user-friendly, which is driving their popularity.
- Growing Affordability: As the wearable technology market continues to mature, devices are becoming more affordable, making them accessible to a wider range of consumers.
- Increased Convenience: Wearable technology devices offer a high level of convenience, allowing people to stay connected and track their fitness goals without having to carry around multiple devices.
- Integration with Smart Homes: Many wearable devices can now be integrated with smart home devices, further increasing their appeal.
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Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Market Segments:
| Segmentation | By Type
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By Product
| |
By Application
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By Geography
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Regional Insights:
Increasing Health Concerns in North America to Drive Market Share
Wearable technology market share is expected to grow in North America during the forecast period (2022-2029). The factors responsible for driving the market growth are increasing health concerns and growing technological advancement.
Asia Pacific is expected to grow at the highest CAGR during the projected timeframe. The increasing demand for wearable medical devices and growing health concerns among the population will drive the regional market share.
South America and European countries are expected to show steady growth due to the increasing health awareness and growing tech-savvy population. In addition, the growing adoption of technology in the healthcare industry drives the market in these regions.
Competitive Landscape
Market Players Focus on New Product Launches to Strengthen Market Position
Leading players in the market are adopting various strategies to expand their presence. These include the launch of new, technologically-advanced products and R&D investments. Some companies are also adopting partnerships, mergers, collaboration and acquisitions to strengthen their market position.
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Major Table of Contents
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Global Statistics — Key Countries
4.2 New Product Launches
4.3 Pipeline Analysis
4.4 Regulatory Scenario — Key Countries
4.5 Recent Industry Developments — Partnerships, Mergers & Acquisitions
5. Global Wearable Technology Market Analysis, Insights and Forecast
5.1. Key Findings/ Summary
5.2. Market Analysis — By Product Type
5.3. Market Analysis — By Distribution Channel
5.4. Market Analysis — By Countries/Sub-regions
……………
11. Competitive Analysis
11.1. Key Industry Developments
11.2. Global Market Share Analysis
11.3. Competition Dashboard
11.4. Comparative Analysis — Major Players
12. Company Profiles
12.1 Overview
12.2 Products & Services
12.3 SWOT Analysis
12.4 Recent developments
12.5 Major Investments
12.6 Regional Market Size and Demand
13. Strategic Recommendations
TOC Continued……………….
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