Market Overview:
The global wearable device market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to factors such as increasing demand for fitness trackers and smart watches, rising awareness about the benefits of wearable devices, and growing adoption of wearables in industrial and military applications. However, high cost of wearable devices is expected to restrain the growth of this market during the forecast period. On the basis of type, fitness trackers & smart watches are expected to account for a major share of the global wearable device market during the forecast period. This can be attributed to their growing popularity among consumers due to their ability to track various health parameters such as heart rate, steps taken, and calories burned. In terms of application, healthcare is expected to account for a major share of the global wearable device market duringthe forecast period owingto its growing adoption by consumers for tracking various health parameters such as heart rate and blood pressure.
Product Definition:
A wearable device is a small electronic device that can be worn on the body. It typically collects data or performs tasks like tracking physical activity, heart rate, or calories burned. Wearable devices are often used to track health and fitness data.
Fitness Trackers & Smart Watches:
Fitness trackers and smartwatches are wearable devices that help in monitoring the user's fitness activities as well as providing information related to the same. The fitness tracker is a device worn on or attached to the body which helps in measuring various physical activities such as steps taken, calories burnt, distance covered etc. whereas, a smartwatch acts like a smartphone accessory and provides all kinds of information including calls and messages from both received as well as sent texts along with stock prices etc.
Wearable Cameras:
Wearable cameras are small-sized video and still picture capturing devices that can be worn on the body. They are also known as smart or intelligent cameras, which have the ability to wirelessly connect with portable media players or computers for downloading images and videos. The major applications of wearable cameras include security surveillance, monitoring activities of employees, children or pets at home or school, fitness & wellness monitoring and recording events such as meetings, seminars etc., among others.
Application Insights:
The textile application segment led the global wearable device market in 2017. The segment is expected to witness significant growth over the forecast period owing to increasing demand for wearable technologies, such as smartwatches and fitness trackers, among others, in various end-use industries. For instance, according to a study published by GSM Arena in 2018, around 40% of textile producers have started using IoT solutions for remote monitoring of production facilities. Furthermore, many companies are focusing on developing new products and services based on these platforms for improving their operations and boosting productivity.
Healthcare was the second largest application segment that year with more than 300 million connected devices globally across 20 countries including Germany China Italy Japan U.K.
Regional Analysis:
North America dominated the global wearables device market in 2017. The region is expected to maintain its position during the forecast period owing to high disposable income, technological advancements, and increasing demand for fitness devices. Asia Pacific is anticipated to witness lucrative growth over the next eight years owing to rising health concerns among people coupled with growing penetration of digital services in this region. Moreover, an increase in spending on healthcare by consumers due to better coverage and affordable pricing of wearable medical devices will drive growth over the forecast period.
The European market consists of major countries such as Germany, France, Italy that are technologically advanced when it comes to wearable medical technology development and manufacturing.
Growth Factors:
- Increasing demand for wearable devices from the healthcare sector as they help in tracking and monitoring patients’ health conditions.
- Growing popularity of fitness trackers and smart watches among consumers due to their features such as calorie counting, heart rate monitoring, etc.
- Proliferation of affordable wearable devices especially in developing countries owing to the increasing disposable income of consumers there.
- Rising demand for smart glasses and augmented reality headsets from businesses for various applications such as training, marketing, etc.
Scope Of The Report
Report Attributes
Report Details
Report Title
Wearable Device Market Research Report
By Type
Fitness Trackers & Smart Watches, Wearable Cameras, Body Sensors, Smart Glasses, Smart Clothing, Smart Headphones, Others
By Application
Healthcare, Textile, Military, Industrial, Others
By Companies
Apple, Fitbit, Xiaomi , Garmin, Huawei, APX Labs, Augmate, DAQRI, Epson, Fitbit, Google, Castlight Health, Microsoft, SAP, SmartCap, Thalmic Labs, Vuzix
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
233
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Wearable Device Market Report Segments:
The global Wearable Device market is segmented on the basis of:
Types
Fitness Trackers & Smart Watches, Wearable Cameras, Body Sensors, Smart Glasses, Smart Clothing, Smart Headphones, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Healthcare, Textile, Military, Industrial, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Apple
- Fitbit
- XiaomiÂ
- Garmin
- Huawei
- APX Labs
- Augmate
- DAQRI
- Epson
- Fitbit
- Google
- Castlight Health
- Microsoft
- SAP
- SmartCap
- Thalmic Labs
- Vuzix
Highlights of The Wearable Device Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Fitness Trackers & Smart Watches
- Wearable Cameras
- Body Sensors
- Smart Glasses
- Smart Clothing
- Smart Headphones
- Others
- By Application:
- Healthcare
- Textile
- Military
- Industrial
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Wearable Device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A wearable device is a small electronic or mechanical device that is worn on the body, typically on the wrist or ankle.
Some of the major companies in the wearable device market are Apple, Fitbit, Xiaomi‚Â , Garmin, Huawei, APX Labs, Augmate, DAQRI, Epson, Fitbit, Google, Castlight Health, Microsoft, SAP, SmartCap, Thalmic Labs, Vuzix.
The wearable device market is expected to grow at a compound annual growth rate of 16.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Wearable Device Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Wearable Device Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Wearable Device Market - Supply Chain
4.5. Global Wearable Device Market Forecast
4.5.1. Wearable Device Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Wearable Device Market Size (000 Units) and Y-o-Y Growth
4.5.3. Wearable Device Market Absolute $ Opportunity
5. Global Wearable Device Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Wearable Device Market Size and Volume Forecast by Type
5.3.1. Fitness Trackers & Smart Watches
5.3.2. Wearable Cameras
5.3.3. Body Sensors
5.3.4. Smart Glasses
5.3.5. Smart Clothing
5.3.6. Smart Headphones
5.3.7. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Wearable Device Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Wearable Device Market Size and Volume Forecast by Application
6.3.1. Healthcare
6.3.2. Textile
6.3.3. Military
6.3.4. Industrial
6.3.5. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Wearable Device Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Wearable Device Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Wearable Device Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Wearable Device Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Wearable Device Demand Share Forecast, 2019-2026
9. North America Wearable Device Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Wearable Device Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Wearable Device Market Size and Volume Forecast by Application
9.4.1. Healthcare
9.4.2. Textile
9.4.3. Military
9.4.4. Industrial
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Wearable Device Market Size and Volume Forecast by Type
9.7.1. Fitness Trackers & Smart Watches
9.7.2. Wearable Cameras
9.7.3. Body Sensors
9.7.4. Smart Glasses
9.7.5. Smart Clothing
9.7.6. Smart Headphones
9.7.7. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Wearable Device Demand Share Forecast, 2019-2026
10. Latin America Wearable Device Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Wearable Device Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Wearable Device Market Size and Volume Forecast by Application
10.4.1. Healthcare
10.4.2. Textile
10.4.3. Military
10.4.4. Industrial
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Wearable Device Market Size and Volume Forecast by Type
10.7.1. Fitness Trackers & Smart Watches
10.7.2. Wearable Cameras
10.7.3. Body Sensors
10.7.4. Smart Glasses
10.7.5. Smart Clothing
10.7.6. Smart Headphones
10.7.7. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Wearable Device Demand Share Forecast, 2019-2026
11. Europe Wearable Device Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Wearable Device Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Wearable Device Market Size and Volume Forecast by Application
11.4.1. Healthcare
11.4.2. Textile
11.4.3. Military
11.4.4. Industrial
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Wearable Device Market Size and Volume Forecast by Type
11.7.1. Fitness Trackers & Smart Watches
11.7.2. Wearable Cameras
11.7.3. Body Sensors
11.7.4. Smart Glasses
11.7.5. Smart Clothing
11.7.6. Smart Headphones
11.7.7. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Wearable Device Demand Share, 2019-2026
12. Asia Pacific Wearable Device Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Wearable Device Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Wearable Device Market Size and Volume Forecast by Application
12.4.1. Healthcare
12.4.2. Textile
12.4.3. Military
12.4.4. Industrial
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Wearable Device Market Size and Volume Forecast by Type
12.7.1. Fitness Trackers & Smart Watches
12.7.2. Wearable Cameras
12.7.3. Body Sensors
12.7.4. Smart Glasses
12.7.5. Smart Clothing
12.7.6. Smart Headphones
12.7.7. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Wearable Device Demand Share, 2019-2026
13. Middle East & Africa Wearable Device Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Wearable Device Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Wearable Device Market Size and Volume Forecast by Application
13.4.1. Healthcare
13.4.2. Textile
13.4.3. Military
13.4.4. Industrial
13.4.5. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Wearable Device Market Size and Volume Forecast by Type
13.7.1. Fitness Trackers & Smart Watches
13.7.2. Wearable Cameras
13.7.3. Body Sensors
13.7.4. Smart Glasses
13.7.5. Smart Clothing
13.7.6. Smart Headphones
13.7.7. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Wearable Device Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Wearable Device Market: Market Share Analysis
14.2. Wearable Device Distributors and Customers
14.3. Wearable Device Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Apple
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Fitbit
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Xiaomi
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Garmin
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Huawei
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. APX Labs
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Augmate
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. DAQRI
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Epson
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Fitbit
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Google
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Castlight Health
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Microsoft
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. SAP
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. SmartCap
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Thalmic Labs
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Vuzix
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
