Wearable Technology Market to see Huge Growth by 2029

The global wearable technology market is anticipated to grow at an exponential CAGR of 12.8% during the forecast period. The rising technological advancement in wearable devices is driving the growth of the global wearable technology market. The increasing usage of smart wearables among young generation is also a major factor driving the growth of wearable technology market across the globe. Many companies are entering in wearable technology market due to high demand and introducing smart wearable technologies to attract customers. For instance, in January 2020, Nuheara launched advanced hearing buds, the IQbuds2 MAX. Built on Nuheara’s innovative new smart-hearing platform, the IQbuds2 MAX feature hybrid active noise cancellation and unique features for personalizing and enhancing the wearer’s soundscape. Additionally, due to increased awareness regarding physical fitness people go to walk and on jogging wearing hearables due to which many companies are introducing smart hearable devices with fitness tracker so that consumers can enjoy the music and at the same time they can track their steps, distance, calories burnt, etc.

For instance, in October 2020, Myntra and Jabong launched smart hearable fitness device Blink Play. It is a 2-in-1 device that can be worn like earphones and also support advanced fitness tracking features such as steps, distance, calories burnt, etc. It features seamless audio streaming with well-balanced sound quality for music & calls and also allows access to Siri and Google Assistant with just a tap. As a personal fitness coach, the device lets the user access a range of guided audio sessions on the App while tracking key activity metrics through an on-going training session. It has a dedicated app called Blink Fit which is compatible with both Android & iOS devices.

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Market Coverage

  • The market number available for – 2022-2030
  • Base year- 2022
  • Forecast period- 2023-2030

Segment Covered- 

  • By Product
  • By Type
  • By Application

Regions Covered-

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

Competitive Landscape – Apple Inc., Fitbit International Ltd., Fossil Group, Inc., Google LLC., Huawei Technologies Co. Ltd., Xiaomi Group, and others.

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Wearable Technology Market Report Segment

By Product 

  • Fitness
  • Smart Watches
  • Smart Glasses
  • Smart Clothing
  • Others

By Type

  • Wrist Wear
  • Eyewear
  • Hearables
  • Bodywear
  • Others

By Application

  • Lifestyle
  • Consumer Application
  • Healthcare
  • Fitness & Sports
  • Defense

Wearable Technology Market Report Segment by Region

North America

  • United States
  • Canada

Europe

  • UK
  • Germany
  • Spain
  • France
  • Italy
  • Rest of Europe

Asia-Pacific

  • India
  • China
  • Japan
  • South Korea
  • Rest of APAC

Rest of the World

  • Latin America
  • Middle East and Africa

Company Profiles 

  • Adidas AG.
  • Apple Inc.
  • Fitbit International Ltd.
  • Fossil Group, Inc.
  • Garmin Ltd.
  • Google LLC
  • Huawei Technologies Co. Ltd.
  • LG Electronics
  • Motorola Solutions, Inc.
  • Nike, Inc.
  • Samsung Electronics Co., Ltd.
  • Shimmer Research Ltd.
  • Sony Corp.
  • Xiaomi Group

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