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.
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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
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global 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
Global Wearable Technology Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global wearable technology market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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