Wearable Technology Market worth $265.4 billion by 2026, at a CAGR of 18.0% - Press Release



"Wearable Technology Market"

[199 Pages] The Wearable Technologies Market report categorizes the global market by product (Wrists, Headgear / Eyeglasses, Shoes, Ties, Body Wear), application, type and geography. Impact of COVID-19 on the wearable technology industry.

The report "Wearable Technology Market by Product (Wrists, Headgear, Shoes, Fashion & Jewelry, Bodywear), Type (Smart Textile, Non-Textile), Application (Consumer Electronics, Healthcare, Enterprise and Industrial), and Geography - Global Forecast to 2026"The size is expected to increase from $ 116.2 billion in 2021 to $ 265.4 billion in 2026. It is expected to grow at a CAGR of 18.0% from 2021 to 2026. Key factors contributing to the growth of the wearable technology market include consumer preference for sophisticated devices, the increasing growth prospects of next generation displays for wearable devices, and the growth in popularity of IoT and connected devices. However, the shorter lifecycle of the electronics market is the main constraint on the growth of the wearable technology market. Conversely, the introduction of multi-application wearables, as well as multi-function mobile devices and hybrid applications, offers new opportunities for the wearable technology market to grow. New areas of application such as medical surgery can be found in wearable technology. Portable devices are also used as internables / implantables. Internable or implantable material is the advanced wearable technology used in medical applications. Internable or implantable material consists of sensors that can be built into the human body to monitor various health parameters.

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Apple Inc. (USA), Fitbit Inc. (USA), Google LLC (USA), Samsung Electronics Co., Ltd. (South Korea), Garmin Ltd. (Switzerland), LG (South Korea), Huawei (China), Sony Corporation (Japan), Xiaomi Corporation (China) and Microsoft (USA) are the major players in the wearable technology market.

Search through 144 market data, tables and 46 figures, spread over 242 pages and a detailed table of contents "Wearable Technology Market by Product and Geography - Global Forecast to 2026"

Wearable Technology Market

Bracelets should hold the largest market share in the forecast period

The wearable technology market is largely divided into products such as bracelets, headwear and glasses, shoes, fashion and jewelry, body wear, and others. The wearable technology market for bracelets is expected to be valued at $ 77.9 billion in 2021, while headwear is expected to grow with the highest CAGR of 30.0% between 2021 and 2026. Bracelets gained importance due to their multifunctional uses. With the integration of advanced technologies, the Wristwear segment currently offers opportunities for the wearable technology market and will continue to do so for years to come. Additionally, bracelets, headgear, glasses and bodywear would be the best segments to invest in over the next few years. Headgear and eyewear include products such as AR, as well as products and technologies used in various high value applications such as the industrial segment, video games and entertainment.

APAC have the highest CAGR in the forecast period

Due to the increased demand for wearable products in the region, the wearable technology market in APAC is expected to grow significantly over the next few years at a CAGR of 21.8%. In addition, APAC is recognized as the manufacturing hub of the consumer electronics industry and is expected to offer numerous growth opportunities for the wearable technology market. The main players in the market are Fitbit, Inc. (USA), Apple, Inc. (USA), Xiaomi Technology Co., Ltd. (China), Garmin Ltd. (USA) and Samsung Electronics Co., Ltd. (UNITED STATES). South Korea).

The corporate and industrial segment is expected to grow at a high CAGR

The wearable technology market for the enterprise and industrial segment is expected to grow with the highest CAGR of 22.5% between 2021 and 2026. This growth is mainly due to the increasing demand for portable scanners and computing devices in warehouses, logistics and other operations where high speed and efficiency are essential.

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