PUNE,
India, July 11, 2024 /PRNewswire/ -- The research
methodology utilized in analysing the Wearable Electronics Market
encompasses a thorough approach that combines primary research
through interviews with industry stakeholders and secondary
research utilizing reports from government sources, industry
publications, and financial statements. Market sizing and
forecasting techniques are employed alongside competitive analysis
to provide valuable insights into the market landscape. The report
encompasses conducting material, technology, and application
segments and their analysis, which elucidates their influence on
the market. The estimation methodology often adopts a bottom-up
approach to accurately determine market sizes.
Reports on competitive analyses encompass company overviews,
financial performances, product portfolios, and strategies of key
players in the Wearable Electronics Market. To assess strengths and
weaknesses, a comprehensive SWOT analysis was conducted, while a
PESTLE analysis was carried out to understand the impact of
macroeconomic factors on the market. Also, the report includes
detailed analyses of investments made by market players to enhance
their global presence.
The Wearable Electronics Market was valued at USD 77.55 Billion in 2023 and is expected to grow
at a CAGR of 13.8% reaching USD 191.69
Billion by 2030. As per the Stellar Market Research report,
the global wearable electronics market is expected to be dominated
by North America to grow at a
significant growth rate over the forecast period.
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Wearable Electronics Market Scope
Market Size in
2023
|
USD 77.55
Billion
|
Market Size in
2030
|
USD 191.69
Billion
|
CAGR
|
13.8 Percent
|
Forecast
Period
|
2024-2030
|
Base
Year
|
2023
|
Number of
Pages
|
229
|
No. of
Tables
|
138
|
No. of Charts and
Figures
|
193
|
Segment
Covered
|
By Conducting
Material, Technology, and Application
|
Regional
Scope
|
North America, Europe,
Asia Pacific, Middle East and Africa, South America
|
Report
Coverage
|
Market Share, Size, and
Forecast by Revenue | 2024−2030, Market Dynamics, Growth Drivers,
Restraints, Investment Opportunities, and Key Trends, Competitive
Landscape, Key Players Benchmarking, Competitive Analysis, MMR
Competition Matrix, Competitive Leadership Mapping, Global Key
Players' Market Ranking Analysis.
|
What's New: Recent Additions and Updates
- Biometric authentication features like fingerprint, iris, and
facial recognition are being integrated into wearables for enhanced
security and personalization
- Wearable devices are incorporating more sophisticated sensors
to track a wider range of health and fitness metrics, such as blood
oxygen levels, skin temperature, and even electrocardiogram (ECG)
data.
- Wearable manufacturers are exploring the use of recycled
materials and incorporating energy-efficient technologies to reduce
the environmental impact.
Key Player Offerings
- Highlighting environmental sustainability, Apple Inc. has
introduced the Apple Watch Series 8 and a redesigned Apple Watch SE
with 100% recycled materials. The Series 8 adds new health features
like temperature sensing for women's health, as well as Crash
Detection.
- Fitbit Charge 6 with its appealing health tracking features
like heart rate tracking and the ability to connect to the gym
equipment is an affordable choice for health-conscious consumers.
It also offers features like GPS and contactless payments with
Google Wallet.
Wearable Electronics Market Regional Analysis
North America, particularly the
U.S. held the dominant position in the wearable electronics market
as the region boasts a tech-savvy population driving the demand for
advanced wearable devices. The inclination of the consumers in the
region toward advanced technologies has been leading to high
penetration rates and an increase in sales volume. Additionally,
the leading key players like Apple headquartered in North America generated a revenue of
approximately USD 39 Million in 2023
from the wearables segment indicating the growth of the wearable
electronics market fueling innovation and the introduction of
cutting-edge products. The region supports favorable trade policies
and a well-established supply chain ensuring effective
import-export of the components and finished products. For
instance, North America imports
premium-quality sensors and semiconductor components from
China. Comparatively, Europe is also a significant player in the
wearable electronics market with the UK and Germany focusing on high-quality
health-oriented wearables.
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Wearable Electronics Market Segment Analysis
Based on technology the Wearable Electronics Market is segmented
into Wristbands, Smartwatches, Hearables, and AR Glasses. The
Smartwatch segment dominated the wearable electronics market in
2023 and is expected to grow continuously during the forecast
period. Smartwatches have integrated several features like health
monitoring, communication, and entertainment functions driving
their widespread adoption ranging from fitness enthusiasts to
tech-savvy professionals. The Indian smartwatch market in 2023
observed a 50% YoY growth in smartwatch shipments, with regional
manufacturers like Noise and Fire-Boltt using cutting-edge features
and competitive rates to capture a major share of the market from
global giants like Apple and Samsung. Additionally,
cost-effectiveness plays an important role in making smartwatches
more accessible to larger consumers given the advances in the
semiconductor industry and the reduction in manufacturing costs. A
decrease in the average selling price of smartwatches has led to a
decrease in the cost of premium models without sacrificing
performance, which has increased sales volume. The scope of the
smartwatch segment is being increased through ongoing innovation in
AI, IoT integration, and health analytics, which is anticipated to
maintain customer interest and drive wearable electronics market
development.
By Conducting Material
- Consumer Electronics
- Healthcare
- Enterprise and Industrial
By Application
- Infotainment
- Fitness and Wellness
- Fashion and Lifestyle
- Safety and Security
- Healthcare and Medical
Wearable Electronics Market Key Players
- Apple
- Xiaomi
- Huawei
- Samsung
- Fossil
- Others
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Key questions answered in the Wearable Electronics
Market are:
- What are wearable electronics?
- What is the current growth rate of the Wearable Electronics
Market?
- Who are the key players in the Wearable Electronics
Market?
- What are the factors affecting growth in the Wearable
Electronics Market?
- Who held the largest market share in the Wearable Electronics
Market?
- What is the demand pattern for the Wearable Electronics
Market?
- What are the key trends in the Wearable Electronics
Market?
- What are the strategies used by competitors in the Wearable
Electronics Market?
- What are the growth prospects in developing countries for the
Wearable Electronics Market?
- Which segment is expected to witness the fastest growth and why
in the Wearable Electronics Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment |
2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities,
and Key Trends by Region
- Market Segmentation – A detailed analysis by Conducting
Material, Technology, Application, and Region
- Competitive Landscape – Profiles of selected key players by
region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers,
Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER's analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Stellar Market Research is leading Machinery & Equipment
research firm, has also published the following reports:
Smart Wearables market: The Market was valued at
US$ 130.93 Billion in 2030, growing
from US$ 52.32 Billion in 2023. It is
estimated that the Global Market is to grow at a CAGR of 14% over
the forecast period.
Military Wearables Market: The Market size was
valued at USD 4.67 Bn. in 2023 and
the Military Wearables revenue is expected to grow at a CAGR of 3%
from 2024 to 2030, reaching nearly USD 5.6
Bn. by 2030.
US Pet Wearable Market: The Market size was valued
at USD 912 Mn. in 2023 and the total
US Pet Wearable revenue is expected to grow at a CAGR of 13.6% from
2024 to 2030, reaching nearly USD 2226
Mn.
Wearable Smart Device Market: The Market is
expected to reach US$ 524.89 Bn. in
2030 from US$ 162.44 Bn. in 2023 at a
CAGR of 18.24%.
Global Smartwatch Chips Market: The Market size
was valued at USD 1.62 Billion in
2023 the market is expected to reach USD
3.22 billion by 2030 with a CAGR of 10.3% from 2024 to
2030.
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and
consulting company with professionals from several industries. Some
of the industries we cover include medical devices, pharmaceutical
manufacturers, science and engineering, electronic components,
industrial equipment, technology and communication, cars and
automobiles, chemical products and substances, general merchandise,
beverages, personal care, and automated systems.
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SOURCE Stellar Market Research