The Wearable Computing market was valued at US$69.889 billion in the year 2019 and is expected to reach US$219.163 billion by 2026, growing at a CAGR of 17.74%. Wearable Computers are portable networks that are installed in a wearable device to connect them with other devices. Technological innovation in the electronics industry and the rise in adoption of wearable device is expected to drive market growth during the forecast period. A surge in disposable income has encouraged a tech-savvy comfortable lifestyle which has promoted the usage of wearable devices, hence creating robust demand for wearable computers as a raw material. Furthermore, growing healthcare technology and increasing healthcare wearable devices also fuel the market demand. However, significant cost and battery constraints have the potential to hamper the market growth notably.
Based on geography, the wearable computing industry is divided into North America, South America, Europe, the Middle East, and Africa, and the Asia Pacific region. The North America and Europe regions are expected to dominate the wearable computing market with high disposable income and tech-savvy lifestyle along with early adoption of new product launches. The Asia Pacific region is expected to emerge as a prime supplier of wearable computers with robust and lucrative growth in the manufacturing industries. India, South Korea, China, and Vietnam have emerged as electronic manufacturing hubs due to the availability of cheap but skillful labor accompanied by favorable government laws and regulations which promote manufacturing units.
Impact of COVID – 19
A surge in the market for smart wearable devices was witnessed during the outbreak of the covid-19 virus, with increased healthcare concerns. A report published by IDC states in Q3 2020, the global wearable device market surged by 35.1%, with shipment reaching a mark of 125 million units. The rise in the smart wearable device industry is expected to be the prime reason which supported the market for wearable computing during the pandemic.
|Market size value in 2019||US$69.889 billion|
|Market size value in 2026||US$219.163 billion|
|Growth Rate||CAGR of 17.74% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||End-User Industry, Technology, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Zephyr Technology Corporation, Samsung Electronics, FitBit, LG Electronics, Garmin, Boston Scientific Corporation, Nuheara, Apple, Fossil, Jawbone|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the wearable computing market?
A1. The wearable computing market is expected to grow at a CAGR of 17.74% during the forecast period.
Q2. What is the size of global wearable computing market?
A2. Wearable Computing Market was valued at US$69.889 billion in 2019.
Q3. Who are the major players in the wearable computing market?
A3. Prominent/major market players in the wearable computing market include Zephyr Technology Corporation, Samsung Electronics, Fitbit, LG Electronics, and Garmin among others.
Q4. What will be the wearable computing market size by 2026?
A4. The global wearable computing market is expected to reach a total market size of US$219.163 billion by 2026.
Q5. What factors are anticipated to drive the wearable computing market growth?
A5. With wide applications across multiple industries and constant innovation happening in the field of smart wearables, the wearable computing market is set to grow exponentially during the forecast period.
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. WEARABLE COMPUTING MARKET, BY END-USER INDUSTRY
5.3. Entertainment and Media
6. WEARABLE COMPUTING MARKET, BY TECHNOLOGY
6.2. Display Technology
6.3. Computing Technology
6.4. Networking Technology
7. WEARABLE COMPUTING MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. North America Wearable Computing Market, By End User Industry, 2019 to 2026
7.2.2. North America Wearable Computing Market, By Technology, 2019 to 2026
7.2.3. By Country
184.108.40.206. United States
7.3. South America
7.3.1. South America Wearable Computing Market, By End User Industry, 2019 to 2026
7.3.2. South America Wearable Computing Market, By Technology, 2019 to 2026
7.3.3. By Country
7.4.1. Europe Wearable Computing Market, By End User Industry, 2019 to 2026
7.4.2. Europe Wearable Computing Market, By Technology, 2019 to 2026
7.4.3. By Country
220.127.116.11. United Kingdom
7.5. The Middle East and Africa
7.5.1. Middle East and Africa Wearable Computing Market, By End User Industry, 2019 to 2026
7.5.2. Middle East and Africa Wearable Computing Market, By Technology, 2019 to 2026
7.5.3. By Country
18.104.22.168. Saudi Arabia
22.214.171.124. South Africa
7.6. Asia Pacific
7.6.1. Asia Pacific Wearable Computing Market, By End User Industry, 2019 to 2026
7.6.2. Asia Pacific Wearable Computing Market, By Technology, 2019 to 2026
7.6.3. By Country
126.96.36.199. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.3. LG Electronics
9.5. Boston Scientific Corporation
Boston Scientific Corporation
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