In 2032, the market for wearable computing is projected to be worth US$2,31,452.5 million. The market for wearable computing is expanding quickly. According to FMI Analysts, the global market for wearable computing is anticipated to reach US$ 46,267.9 million in 2022 and is expected to grow at a CAGR of 17.5% from 2022 to 2032.
The term “wearable computing” refers to the technology built into accessories that can be worn on the body, such as watches and wristbands, to serve as electronic devices that facilitate access to technology. Applications for media and healthcare use wearable computing extensively. The ease of synchronization and high portability shared by all of these devices make them incredibly popular and drive up demand for wearable accessories.
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Wearable Computing Market: Drivers and Restraints
Wearable computing devices provide various computational support such as gyroscopes and accelerometers, which are becoming the key attraction for the consumer to fuel the demand for wearable devices. Further, the advance features of wearable gadgets such as data monitoring, light weight, and enhanced portability are the other drivers piloting the growth of the wearable computing market in forthcoming years.
Apart from serving technological benefits, wearable gadgets are trending these days, due to increasing consumer inclination towards smart gadgets. So consider the same, augmented demand for clubbing material sciences with technology are spurring the demand for the wearable computing market. However, less battery back-up and costly wearable device are coupled together to hinder the growth of the wearable computing market over the forecasted period.
What is the Competition Landscape in the Wearable Computing Market?
Some of the leading companies operating in the global wearable computing market include
- Adidas AG,
- Zephyr Technology Corporation,
- Casio Computer Company Ltd.,
- Jawbone, Fitbit, Inc.,
- Samsung Electronics Co., Ltd.
- Apple, Inc.,
- Sony Corporation,
- Motorola Mobility Holdings, Inc,
- Pebble Technology Corporation,
- LG Electronics Inc,
- Garmin Ltd., Contour,
- Ascension Technology Corporation,
- GoPro, Siemens Healthcare,
- NanoSonic, Weartech,
Smart Life Technology Co., Ltd., GE Healthcare, Textronics, Himax Technology, Medtronic Inc., Carl Zeiss Inc, Invensense Inc., AiQ Smart Clothing Inc., Silicon Micro Display and CSR plc.
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Global Wearable Computing Market: Regional Trend
Increasing awareness about the wearable computing technology and growing inclination towards smart gadgets are coupled together to spur the demand of wearable computing market in North America region. Also, countries such as U.S. followed by Canada are estimated to witness huge opportunistic growth regarding wearable computing technology in the near future.
Asia-Pacific region is projected to witness fastest growth rate regarding wearable computing market, owing to continuous innovation and improvement in technology. Countries such as India and China are expected to exhibit positive growth rate during the forecast period.
Key Segments Profiled in the Wearable Computing Market
By Product Type:
- Smart watches
- Essential Round Up
- Head-Mounted Displays
- Smart Jewellery
- Implantable
By Application:
- Consumer
- Smart Glasses
- Wearable Cameras
- Smart Clothing
- Gaming Devices
- Non-Consumer
- Fitness And Wellness
- Medical And Healthcare
- Enterprise And Industrial
- Infotainment
- Others
By Region:
- North America
- Latin America
- Europe
- Asia-Pacific
- Middle East and Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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