Category

Wearable Devices Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Products (Watches, Fabric, Glasses, Fitness Trackers, Sensors, Others), By End Users (Personal Users, Enterprises), By Connectivity Medium (ANT+, Bluetooth, Wi-Fi, Cellular, NFC), By Technology (Computer, Display, Networking, Positioning, Sensor) And By Geography (North America, South America, Europe, Middle East, And Africa, Asia-Pacific)- Forecasts From 2020 To 2025

Published: Jun 2021 | Report Code:  KSI061610015 | Pages:  130

The wearable devices market is projected to grow at a CAGR of 21.63% to reach US$80.438 billion by 2025, from US$24.486 billion in 2019. Wearable devices keep a track of real-time information on the activities of its user and can be worn on the body with ease and comfort.

They include inter-alia, analog-watches, smartwatches, glasses, and fitness trackers. With technological advancements, wearable devices are becoming a target for innovation and development. For instance, synchronization of watches with smartphones is an evolving technology with a slew of novel features being incorporated into the devices; the Internet of Things (IoT) is being integrated into devices to bring sophistication to them; Smart Shirts make tracking health-related metrics seamlessly. Eye-wear or glasses have been embedded with a calling feature to expedite and ease the task of receiving the phone.

Wearable Devices Market, By End-Users, 2019 and 2025

The rise of social media usage and the underlying tendency towards remaining updated with its posts is driving the demand for this market. Increasing Convenience in the handling of devices is a reason why people use wearable devices. The Global Wearable Device Market is growing due to its increasing adoption of diverse applications. The number of functions performed by smartwatches is on a rising spree with heavy investments by companies in their Research and Development projects. The development of smartwatches has brought a radical transformation in the watch industry and made wearing smartwatches a status symbol.

The growing health awareness at the global level is contributing to the market growth in the forecast period. A plethora of obesity and diabetes cases are getting added every day which requires people to keep track of their activities, calorie intake, cholesterol levels, heartbeat rate, blood pressure, sleeping patterns, etc. Wearable devices serve this purpose. Personal grooming is also a booming industry that indirectly impacts the growth of this market, for instance- people doing gym can maintain their calorie intake through such devices. On the flip side, there is also a privacy or security concern that gets attached to the use of such devices. Information of the user that gets populated in the devices is vulnerable to be misused. Battery life and a shorter life span are some of the constraints that deter people from buying such products. Companies have to incur a lot of expenditure towards Research & Development to remain competitive in the industry.

Wearable Devices Market, By Geography, 2025

The Asia Pacific region is expected to show higher growth prospects in the forecast period with the rising demand, adoption rate, and varied applications for wearable devices. A rising tech-friendly population and increasing disposable incomes in this region are escalating the growth prospects of the Asia-Pacific region. North America is expected to hold a large share of the market due to increasing investments and innovations in the Wearable Device market in that region. Under-developed regions across the globe are expected to face challenges with regard to infrastructure facilities and internet services.

Wearable Devices Market Scope:

Report Metric Details
 Market size value in 2019  US$24.486 billion
 Market size value in 2025  US$80.438 billion
 Growth Rate  CAGR of 21.63% from 2019 to 2025
 Base year  2019
 Forecast period  2020–2025
 Forecast Unit (Value)  USD Billion
 Segments covered  Products, End Users, Connectivity Medium, Technology, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  Apple, Inc., Zephyr Technology Corporation, AiQ Smart Clothing, Fitbit, Xiaomi   Technology Co. Ltd., LG Electronics, Garmin Ltd., Luxottica, Huawei Technologies   Co.,  Ltd, Fossil Group
 Customization scope  Free report customization with purchase

 

Segmentation:

  • By Products
    • Watches
    • Fabric
    • Glasses
    • Fitness Trackers
    • Others
  • By End Users
    • Personal Users
    • Enterprises
  • By Connectivity Medium
    • ANT+
    • Bluetooth
    • Wi-Fi
    • Cellular
    • NFC
  • By Technology
    • Computer Technology
    • Display Technology
    • Networking Technology
    • Positioning Technology
    • Sensor Technology
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Others
    • The Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of wearable devices market?
A1. The wearable devices market was valued at US$24.486 billion in 2019.
 
Q2. What will be the wearable devices market size by 2025?
A2. Wearable Devices Market is projected to reach US$80.438 billion by 2025.
 
Q3. What are the key factors behind the wearable devices market growth?
A3. The growing health awareness at the global level is contributing to the market growth in the forecast period. 
 
Q4. Which region holds the maximum market share in the wearable devices market?
A4. The Asia Pacific region is expected to show higher growth prospects in the forecast period with the rising demand, adoption rate and varied applications for wearable devices. 
 
Q5. What are the growth prospects for the wearable devices market?
A5. The wearable devices market is projected to grow at a CAGR of 21.63% over the forecast period.

Explore custom options available with this study:

  • Request customization

  • Buy sections of the study

  • Buy country specific report

  • Request excel, Historical data

  • Subscription inquiry

  • Request special pricing

Our Value Proposition

Analyst Support

All our studies come with 2 months of analyst support.

Confidentiality

We are in compliance with the global privacy laws.

OUR CLIENTS