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Meticulous Research®– leading global market research company published a research report titled “Wearable Devices Market by Product Type (Smartwatch, Earwear, Eyewear, and others), End-Use Industry (Consumer Electronics, Healthcare, Enterprise & Industrial, Media & Entertainment), Connectivity Medium, and Region - Global Forecast to 2025”. According to this latest publication from Meticulous Research®, the global wearable devices market is expected to grow at a CAGR of 11.3% from 2019 to reach $62.82 billion by 2025. The growth in the global wearable devices market is mainly attributed to the growing adoption of wearable devices across multiple application areas such as manufacturing, retail, and healthcare, among others. Moreover, consumer preference for connected devices and the increasing population of IoT and associated devices further supports the overall growth of the wearable devices market. However, lack of data privacy & security and lack of internet & associated infrastructure in underdeveloped countries is expected to restrict the growth of this market to some extent.
Global wearable devices market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025, by product type (smartwatch, ear wear, clothing, wristband, and others), end-use industry (consumer electronics, healthcare, enterprise & industrial, media & entertainment, and others), and connectivity medium (cellular, NFC, Bluetooth, WI-FI, and ANT+). The study also evaluates industry competitors and analyzes the market country level.
Based on product type, smart watches segment is expected to command the largest share of the overall wearable devices market in 2019. The large share of this market is mainly attributed to growing technological upgradation in smartwatches by key players, rising awareness pertaining to personal fitness and health among citizens, and increasing demand for wireless health monitoring devices.
Based on end-use industry, healthcare is estimated to account for the largest share of the overall market in 2019. The large share of this market is mainly attributed to huge demand for wearable devices, such as fitness trackers, by medical professionals to acquire physiological, behavioral, and contextual data for the diagnosis, treatment, and management of chronic diseases.
Geographically, North America is estimated to command the largest share of the overall wearable devices market in 2019, due to presence of large number of established wearable device players & start-ups, easy availability of variety of smart devices, and high internet penetration. However, Asia Pacific region is expected to witness rapid growth during the forecast period in wearable devices market. The rapid growth of this market is mainly attributed to rising population, increasing disposable income, growing penetration of internet, huge base of techno savvy consumers, and growing investments from key players in the region.
The major players operating inthe global wearable devices market are Apple Inc. (U.S.), Google LLC (U.S.), Microsoft Corporation (U.S.), Sony Corporation (Japan), Samsung Electronics Cp., Ltd. (South Korea), Garmin Ltd. (U.S.), Huawei Technologies Co., Ltd (U.S.), Fitbit, Inc. (U.S.), LG Electronics (South Korea), and Misfit (U.S.), among others.
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Key questions answered in the report-
- Which are the high growth market segments in terms of product, end-use industry, connectivity medium, and countries?
- What was the historical market for wearable devices across the globe?
- What are the market forecasts and estimates for the period of 2019-2025?
- What are the major drivers, restraints, opportunities, and challenges in the global wearable devices market?
- Who are the major players in the global wearable devices market?
- How is the competitive landscape in the global wearable devices market?
- What are the recent developments in the global wearable devices market?
- What are the different strategies adopted by the major players in the global wearable devices market?
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