The global wearable computing market size is expected to reach USD 2,31,452.5 Million in 2032. The wearable computing market is growing rapidly. As per FMI Analysts, the global Wearable computing market is estimated to be valued at USD 46,267.9 Million in 2022 and is projected to increase at a CAGR of 17.5% in the forecast period from 2022 to 2032.
| Report Attribute | Details |
|---|---|
| Wearable Computing Market Estimated Base Year Value (2021) | USD 39,376.94 Million |
| Wearable Computing Market Expected Market Value (2022) | USD 46,267.9 Million |
| Wearable Computing Market Anticipated Forecast Value (2032) | USD 2,31,452.5 Million |
| Wearable Computing Market Projected Growth Rate (2022 to 2032) | 17.5% CAGR |
The term wearable computing refers to the technology embedded in wearable accessories like watches and wristbands to function as electronic devices that make access to technology easier. Wearable computing is widely used for media and healthcare applications. These devices all possess smart and advanced features such as easy synchronization and high portability, which make them extremely popular, creating demand for wearable accessories.
Consumers have increasingly attracted to wearable computing devices thanks to their features, such as gyroscopes and accelerometers, which provide various computational support. Furthermore, advances such as data monitoring, compact design, and enhanced portability are also driving the wearable computing market in future years.
It is also important to note that consumers are increasingly attracted to smart gadgets than to wearable gadgets, which in turn are driving the sales of wearable computing. However, the long battery life and high costs of wearable computing will hinder the wearable computing market growth over the forecasted period.
Despite the rise in awareness about wearable computing technology, the inclination towards smart gadgets and an increased inclination to wearable computing drive the demand for this market in North America, which occupies 37.7% of the market, and Europe, with 23.6%. As well the US and Canada are projected to see enormous growth opportunities in the wearable computing market in the near future in terms of wearable computing technology.
An optical sensor will be integrated into the body of a smartwatch, which will be able to read the wearer's fingers, wrists, and arms, and the Pixel Watch was slated to debut in 2020. In 2019, Google invested USD 40 million in Fossil's property rights. As announced on Weibo, Xiaomi's Huami subsidiary will release the Mi Band 5 in April 2020. The Amazfit 4 range will also get a new addition called the Amazfit Ares, which will feature 70 different sports modes and a rough "urban outdoor" look.
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Wearable computing is widely used for media and healthcare applications. These devices all possess smart and advanced features such as easy synchronization and high portability, which make them extremely popular, generating demand for wearable accessories.
In addition to providing computational support via gyroscopes and accelerometers, wearable computing devices have many other services that are fueling the demand for wearable devices. Technological advancements such as data monitoring, lightweight, and enhanced portability are also driving the growth of the wearable computing market in years to come.
Wearable gadgets are becoming increasingly popular thanks to the increasing consumer demand for smart gadgets. So, considering the same, increased demand for material sciences combined with technology is driving growth in the wearable computing market. However, less battery life coupled with the cost of wearable devices is restricting the market growth.
North America holds a market share value of 37.7% for wearable computing, and Europe holds a market share value of 23.6% for wearable computing. As a result of increasing awareness about wearable computing technology and growing inclination toward smart gadgets, they are combined to spur demand for wearable computing in North America.
As for the future of wearable computing technology, countries such as the United States and Canada are expected to see a lot of opportunistic growth in the wearable computing market in the future.
In the near future, the Asia-Pacific region is projected to have the fastest growth rate in the wearable computing market due to constant innovation and improvement in technology. Countries such as India and China are expected to demonstrate positive growth during the period.
Some of the leading companies operating in the global membrane filter cartridge market include Adidas AG, Zephyr Technology Corporation, Casio Computer Company Ltd., Jawbone, Fitbit, Inc., Samsung Electronics Co., Ltd. Apple, Inc., Sony Corporation, Motorola Mobility Holdings, Inc, Pebble Technology Corporation, LG Electronics Inc, Garmin Ltd., Contour, Ascension Technology Corporation, GoPro, Siemens Healthcare, NanoSonic, Weartech, Smart Life Technology Co., Ltd.,GE Healthcare, Textronics, Himax Technology, Medtronic Inc., Carl Zeiss Inc, Invensense Inc., AiQ Smart Clothing Inc., Silicon Micro Display and CSR plc.
Earlier this week, Xiaomi's Huami subsidiary announced the release date of the Mi Band 5 to the Chinese social media platform Weibo. Huami also announced the Amazfit range will get a new addition called the Amazfit Ares, declaring 70 sports modes and a rough "urban outdoor" design.
The Pixel Watch was slated to debut in 2020, and Google parent Alphabet purchased Fitbit for USD 2.2 billion in November. Optical sensors will be integrated into a smartwatch's body, capable of reading the wrists, fingers, and arms of the wearer.
Some of the leading companies operating in the global wearable computing market include Adidas AG, Zephyr Technology Corporation, Casio Computer Company Ltd., Jawbone, Fitbit, Inc., Samsung Electronics Co., Ltd. Apple, Inc., Sony Corporation, Motorola Mobility Holdings, Inc, Pebble Technology Corporation, LG Electronics Inc, Garmin Ltd., Contour, Ascension Technology Corporation, GoPro, Siemens Healthcare, NanoSonic, Weartech, Smart Life Technology Co., Ltd., GE Healthcare, Textronics, Himax Technology, Medtronic Inc., Carl Zeiss Inc, Invensense Inc., AiQ Smart Clothing Inc., Silicon Micro Display and CSR plc.
April 2020: Google invested USD 40 million in property rights from Fossil in 2019, and Alphabet announced in November that it would purchase Fitbit for USD 2.2 billion. The Pixel Watch would feature optical sensors, and the sensor would be able to read wrists, fingers, and arms.
On the Chinese social media platform Weibo, Xiaomi's Huami subsidiary announced that the Mi Band 5's release date would be April 2020. According to the company, the Amazfit range will also get a new member named the Amazfit Ares, the device will have 70 sports modes and a rough "urban outdoor" design.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 17.5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product Type, Application, Region |
| Regions Covered | North America; Latin America; Europe; Asia-Pacific; Middle East and Africa |
| Key Countries Profiled | The USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, Russia, Poland, Australia, New Zealand, China, India, Japan, GCC, South Africa, North Africa |
| Key Companies Profiled | Adidas AG; Zephyr Technology Corporation; Casio Computer Company Ltd.; Jawbone; Fitbit, Inc.; Samsung Electronics Co., Ltd.; Apple, Inc.; Sony Corporation; Motorola Mobility Holdings, Inc; Pebble Technology Corporation; LG Electronics Inc; Garmin Ltd.; Contour, Ascension Technology ; Corporation; GoPro; Siemens Healthcare; NanoSonic; Weartech; Smart Life Technology Co.Ltd.; GE Healthcare; Textronics; Himax Technology; Medtronic Inc.; Carl Zeiss Inc; Invensense Inc.; AiQ Smart Clothing Inc.; Silicon Micro Display; CSR plc. |
| Customization | Available Upon Request |
The global wearable computing market is set to exceed USD 2,31,452.5 Million in 2032.
The US is projected to lead the wearable computing market in the forecast period.
The wearable computing market is likely to secure a CAGR of 17.5% through 2032.
Wearable Computing Market
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