Global Smart Wearables Market Outlook, Opportunities And Strategies – Includes Smart Wearables Market Size
Learn about the global smart wearables market through The Business Research Company, which provides information on smart wearables market size, smart wearables market drivers and restraints, smart wearables market players, the COVID-19 impact on the smart wearables market, and more.
The smart wearables market is expected to grow from $14.93 billion in 2020 to $30.88 billion in 2025 at a rate of 15.6%. The global smart wearables market size is expected to stabilize and reach $62.88 billion in 2030 at a CAGR of 15.3%
The increasing adoption of 5G networks is expected to drive the big smart wearables market in the forecast period.
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The smart wearables market consists of sales of smart wearables by entities (organizations, sole traders and partnerships). Wearable technology is a category of electronic devices that can be worn as accessories, they can be embedded in clothing, or even implanted in the user’s body. These devices are hands-free gadgets with practical uses to enhance lifestyle, improve healthcare, and strengthen defenses, they are powered by microprocessors and enhanced with the ability to send and receive data via the Internet.
Global smart wearables market segments include:
By Devices: Smart Watches, Smart Glasses, Fitness and Wellness Devices, Smart Clothing, Others
By Application: Healthcare, Consumer Applications, Defense, Fitness and Sports, Enterprise and Industrial
By Technology: Memory and Storage Technology, Speech and Pattern Recognition Technology, Communication and Networking Technology, Sensing Technology, Computing Technology, Display Technology
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest market for smart wearables, accounting for 38.4% of the global smart wearables market
The increasing demand for artificial intelligence (AI) in smart wearables today is an emerging trend in the insurance brokers and agents market. AI is the simulation of human intelligence processes by machines, especially computer systems, with the potential to surpass human intelligence levels. With applications in wearable technology being on the rise, artificial intelligence devices are becoming true assistants and thus improving the customer experience. The use of AI Analytics in wearable is fairly evident in the sports world where the gadgets and advanced sensors are embedded in the smart apparel and provide the users with real-time notification of their metrics in addition to actionable advice for improving performance and insights for lowering the injuries risk. A justifiable example of this is an AI smartwatch.
Major Market Players: Apple Inc., Fitbit Inc., Garmin Ltd., Xiaomi, Samsung Electronics Co., Ltd
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Smart Wearables Market Report 2022 is one of a series of new reports from The Business Research Company that provides smart wearables market overviews, analyzes and forecasts market size, share, smart wearables market players, smart wearables market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s smart wearables market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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