According to the latest report by IMARC Group, titled “Wearable Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global wearable technology market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the global wearable technology market to grow at a CAGR of around 16% during the forecast period (2021-2026).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Wearable technology is an advanced technological solution integrated into electronic devices or gadgets worn on the body for tracking real-time biometric information. These devices can also be embedded into clothing or implanted in the user's body. Smartwatches, fitness trackers, head-mounted displays, smart jewelry, etc., are a few commonly used devices that are integrated with wearable technology. They enable the wearer to track heart rate, pulse rate, steps taken, sleep hours, etc., with hands-free operations using microprocessors and sensors as information receptors.
The growing healthcare industry across the globe is one of the key factors driving the wearable technology market. Moreover, increasing consumer preferences towards sleek and compact health and fitness devices are also bolstering the product demand. Furthermore, due to the ongoing COVID-19 pandemic, the requirement for wearable devices is witnessing a significant increase across healthcare centers. They are used to monitor patients under intensive care and as prompt warning systems for viral infection. Additionally, several product innovations, such as the integration of these devices with artificial intelligence (AI), the Internet of Things (IoT), virtual reality (VR), etc., are acting as other growth-inducing factors. Besides this, the rising purchasing power of the consumers and the increasing adoption of wearable devices among professional athletes and recreational fitness enthusiasts are anticipated to further propel the global market over the forecast period.
Wearable Technology Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global wearable technology market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Alphabet Inc
- Apple Inc.
- Garmin Ltd.
- HTC Corporation
- Huawei Technologies Co. Ltd
- Intel Corporation
- Microsoft Corporation
- Qualcomm Incorporated
- Samsung Electronics Co. Ltd.
- Sony Corporation
Key Market Segmentation:
The report has segmented the global wearable technology market on the basis of product, application and region.
Breakup by Product:
- Eye-Wear and Head-Wear
Breakup by Application:
- Consumer Electronics
- Enterprise and Industrial Application
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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