Global Wearable devices Market estimated to surge at a CAGR of 21.63% to reach a value of US$80.438 billion by 2025 from US$24.486 billion in 2019
Knowledge Sourcing Intelligence announces the publication of a new report on “Global Wearable devices Market – Forecast from 2020 to 2025” to their offering.
Wearable devices keep a track of real-time information on the activities of the user. There are different types of wearable including smartwatch, fitness tracker, and eye-glass.
According to the report, the Global Wearable devices Market is projected to increase at a CAGR of 21.63% over the forecast period 2019-2025.
Growing adoption of connected devices owing to the rising internet penetration and proliferation of technologies such as IoT is significantly driving the market growth of wearable devices worldwide. The Rise in the use of social media allows people to remain updated with the current trends in advanced gadgets. As such, the demand for innovative wearable devices is increasing with the growing population using social media. Companies are also investing in advertising on social media platforms to gain a larger market share, thus positively impacting the global wearable devices market growth. Growing health awareness and a growing trend to live a healthy lifestyle is further bolstering the market growth of wearable devices. Rising prevalence of obesity and diabetes are encouraging people to keep track of their daily activities and calorie intake which, in turn, is increasing the sales of different wearable devices, especially fitness trackers. This is also propelling the global wearable devices market growth during the forecast period. However, privacy and security concern regarding the use of such devices is currently hindering the market growth of wearable devices.
The global wearable devices market has been segmented by product, end-user, connectivity medium, technology, and geography. Geographically, the global wearable devices market has been classified into North America, South America, Middle East and Africa, and Asia Pacific. North America holds the significant market share throughout the forecast period owing to the early adoption of ne technologies and the presence of major market players in the region. High awareness among population in countries like the U.S. and Canada about the functionalities of these devices and focus on improving health and lifestyle is also contributing to the rising sales of wearable devices in this region. However, APAC is projected to witness the substantial CAGR during the forecast period owing to the rising use of social media. The Booming e-commerce industry in countries like China, India, and South Korea is also contributing to the market growth of wearable devices in the region.
Some of the key players covered as part of the report Apple Inc., Zephyr Technology Corporation, Fitbit, Xiaomi Technology Co. Ltd., Garmin Ltd., and Fossil Group among others.
View a sample of the report or purchase a complete study at https://www.knowledge-sourcing.com/report/wearable-devices-market
This report segmented the Global Wearable Devices market on the basis following terms:
- Fitness Trackers
By End User
- Personal Users
- Computer Technology
- Display Technology
- Networking Technology
- Positioning Technology
- Sensor Technology
- By Geography
- United States
MiddleEast and Africa
- Saudi Arabia
Leave a ReplyWant to join the discussion?
Feel free to contribute!