Wearable technology market is anticipated to grow at a significant CAGR of 12.8% during the forecast period. Wearable technologies are smart electronic devices that can be worn on consumer’s body. Wearable devices include smart watches, smart clothing, smart glasses, and fitness band. The changing lifestyle and consumer preference is driving the growth of the wearable technology market across the globe. People are upgrading their lifestyle towards modernization which increases the usage of smart wearable devices and led to the market growth. For instance, in June 2022, Noise launched its first smart eyewear i1 in India. The smart glasses deliver a unique audio experience to its users priced at Rs 5999. Noise i1 supports Bluetooth version 5.1 and claims to deliver up to 9 hours of battery backup on a single charge. The smart eyewear also supports fast charging and with 15 minutes of charge users can enjoy 120 minutes of music playback.
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The global wearable technology market is segmented based on product, type, and application. Based on the product, the market is segmented into fitness, smart watches, smart glasses, smart clothing, and others. Based on the type, the market is segmented into wrist wear, eyewear, hearables, bodywear, and others. Based on the application, the market is sub-segmented into lifestyle, consumer application, healthcare, fitness & sports, and defense. Among the product segment, smart watch sub-segment is expected to hold a prominent share in the growth of the global wearable technology market. Further, the fitness & sports sub-segment is expected to be the fastest-growing segment in the global wearable technology market during the forecast period.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , 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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