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Wearable Technology Market Size, Share & Trends Analysis Report By Product (Wrist-Wear, Eye-Wear & Head-Wear, Foot-Wear, Neck-Wear, Body-wear), By Application, By Region, and Segment Forecasts, 2021-2028

  • ID: 5124989
  • Report
  • October 2021
  • Region: Global
  • 70 Pages
  • Grand View Research

FEATURED COMPANIES

  • Adidas AG
  • Alphabet Inc.
  • Apple Inc.
  • FitBit Inc.
  • Garmin Ltd.
  • Nike Inc.
The global wearable technology market size is expected to reach USD 118.16 billion by 2028, registering a CAGR of 13.8% from 2021 to 2028. The rapid increase in demand for multimedia devices and smartphones, coupled with the surge in the adoption of fitness trackers and health-based wearables, is anticipated to propel the market for wearable technology. Furthermore, increasing health awareness among consumers is leading to increased interest in fitness activities such as cycling, running, and walking. Fitness and activity tracking devices provide a way of monitoring progress and analyzing the physiological data gathered, thereby contributing to market growth.





Rising incomes, changing lifestyles, improved standards of living, and increased consumer awareness about the need to adopt energy-efficient products are encouraging consumers to spend more on utilities, thereby supporting the market growth. Furthermore, technological innovations and advancements and the larger availability of affordable and efficient products create growth opportunities for the market.

Increasing internet penetration in several countries across the globe is likely to help create lucrative growth opportunities for the market. For instance, according to the World Bank, the number of internet users in the U.S. has increased from 87.27% of the total population in 2017 to 88.49% in 2018. In China, 54.3% of the country’s population used the internet in 2017.

However, the COVID-19 pandemic impacted the supply chain of the market during the first two quarters of 2020 as shipments of these devices declined. The supply and demand gap has increased due to the limited availability of raw materials and labor shortage in manufacturing units. Nevertheless, the rising focus of governments on economic revival and leniency in lockdown restrictions are expected to witness drive market growth during the forecast period. Furthermore, rising health concerns among individuals are also expected to contribute to market growth.

The North America regional market, valued at USD 14.11 billion in 2020 and dominated the global market owing to the increasing demand for wearable devices in the U.S and Canada. Furthermore, the presence of several prominent players such as Alphabet Inc.; Garmin Ltd.; and Apple, Inc. in the region is also expected to favor market growth through the forecast period. These players majorly focus on strategic partnerships and mergers and acquisitions to enhance their business operations. For instance, in November 2019, Alphabet Inc. announced the acquisition of Fitbit Inc.

Wearable Technology Market Report Highlights

  • In terms of product, the wrist-wear product segment is expected to dominate the market for wearable technology over the forecast period due to the increased adoption of smartwatches among millennials. The segment is expected to reach USD 62.16 billion by 2028.
  • In terms of application, the consumer electronics segment is expected to dominate over the forecast period. The segment is anticipated to reach USD 59.55 billion by 2028.
  • North America is projected to account for the majority share of the global market over the forecast period. The regional market is anticipated to reach USD 36.67 billion by 2028. The growth in disposable incomes and the rapid adoption and popularity of connected devices are some of the major drivers of the regional market.
  • The prominent industry participants include Apple Inc.; Fitbit, Inc.; SAMSUNG; Xiaomi Global Community; and Huawei Device Co., Ltd..


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Frequently Asked Questions about the Global Wearable Technology Market

What is the estimated value of the Global Wearable Technology Market?

The Global Wearable Technology Market was estimated to be valued at $47.9 billion in 2021.

What is the growth rate of the Global Wearable Technology Market?

The growth rate of the Global Wearable Technology Market is 13.8%, with an estimated value of $118.2 billion by 2028.

What is the forecasted size of the Global Wearable Technology Market?

The Global Wearable Technology Market is estimated to be worth $118.2 billion by 2028.

Who are the key companies in the Global Wearable Technology Market?

Key companies in the Global Wearable Technology Market include Alphabet Inc., Samsung Electronics Co. Ltd., Sony Group Corporation, Huawei Technologies Group Co. Ltd., Apple Inc., Xiaomi Corporation, Adidas AG, Nike Inc. and Garmin Ltd..
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Adidas AG
  • Alphabet Inc.
  • Apple Inc.
  • FitBit Inc.
  • Garmin Ltd.
  • Nike Inc.

Chapter 1. Methodology and Scope
1.1. Market segmentation & scope
1.2. Information procurement
1.2.1. Purchased database
1.2.2. internal database
1.2.3. Secondary sources & third-party perspectives
1.2.4. Primary research
1.3. Information analysis
1.3.1. Data analysis models
1.4. Market formulation & data visualization
1.5. Data validation & publishing
Chapter 2. Executive Summary
Chapter 3. Wearable Technology Market Variables, Trends & Scope
3.1. Penetration & Growth Prospect Mapping
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.4. Business Environment Analysis Tools
3.4.1. Industry Analysis – Porter’s
3.4.2. PEST Analysis
3.5. Impact of COVID-19 on Wearable Technology Market
3.6. Key Company Analysis, 2020
Chapter 4. Wearable Technology Market: Type Outlook
4.1. Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2028 (Revenue, USD Million)
4.2. Wrist-Wear
4.2.1. Market estimates and forecasts by region, 2018 - 2028 (Revenue, USD Million)
4.3. Eye-Wear & Head-Wear
4.3.1. Market estimates and forecasts by region, 2018 - 2028 (Revenue, USD Million)
4.4. Foot-Wear
4.4.1. Market estimates and forecasts by region, 2018 - 2028 (Revenue, USD Million)
4.5. Neck-Wear
4.5.1. Market estimates and forecasts by region, 2018 - 2028 (Revenue, USD Million)
4.6. Body-Wear
4.6.1. Market estimates and forecasts by region, 2018 - 2028 (Revenue, USD Million)
Chapter 5. Wearable Technology Market: Application Outlook
5.1. Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2028 (Revenue, USD Million)
5.2. Consumer Electronics
5.2.1. Market estimates and forecasts by region, 2018 - 2028 (Revenue, USD Million)
5.3. Healthcare
5.3.1. Market estimates and forecasts by region, 2018 - 2028 (Revenue, USD Million)
5.4. Enterprise & Industrial Application
5.4.1. Market estimates and forecasts by region, 2018 - 2028 (Revenue, USD Million)
5.5. Others
5.5.1. Market estimates and forecasts by region, 2018 - 2028 (Revenue, USD Million)
Chapter 6. Wearable Technology Market: Regional Outlook
6.1. Wearable Technology Market, By Region, 2020 & 2028
6.2. North America
6.2.1. Market estimates and forecasts by product, 2018 - 2028 (Revenue, USD Million)
6.2.2. Market estimates and forecasts by application, 2018 - 2028 (Revenue, USD Million)
6.2.3. U.S.
6.2.3.1. Market estimates and forecasts by product, 2018 - 2028 (Revenue, USD Million)
6.2.3.2. Market estimates and forecasts by application, 2018 - 2028 (Revenue, USD Million)
6.2.4. Canada
6.2.4.1. Market estimates and forecasts by product, 2018 - 2028 (Revenue, USD Million)
6.2.4.2. Market estimates and forecasts by application, 2018 - 2028 (Revenue, USD Million)
6.3. Europe
6.3.1. Market estimates and forecasts by product, 2018 - 2028 (Revenue, USD Million)
6.3.2. Market estimates and forecasts by application, 2018 - 2028 (Revenue, USD Million)
6.3.3. Germany
6.3.3.1. Market estimates and forecasts by product, 2018 - 2028 (Revenue, USD Million)
6.3.3.2. Market estimates and forecasts by application, 2018 - 2028 (Revenue, USD Million)
6.3.4. U.K.
6.3.4.1. Market estimates and forecasts by product, 2018 - 2028 (Revenue, USD Million)
6.3.4.2. Market estimates and forecasts by application, 2018 - 2028 (Revenue, USD Million)
6.3.5. France
6.3.5.1. Market estimates and forecasts by product, 2018 - 2028 (Revenue, USD Million)
6.3.5.2. Market estimates and forecasts by application, 2018 - 2028 (Revenue, USD Million)
6.4. Asia Pacific
6.4.1. Market estimates and forecasts by product, 2018 - 2028 (Revenue, USD Million)
6.4.2. Market estimates and forecasts by application, 2018 - 2028 (Revenue, USD Million)
6.4.3. China
6.4.3.1. Market estimates and forecasts by product, 2018 - 2028 (Revenue, USD Million)
6.4.3.2. Market estimates and forecasts by application, 2018 - 2028 (Revenue, USD Million)
6.4.4. India
6.4.4.1. Market estimates and forecasts by product, 2018 - 2028 (Revenue, USD Million)
6.4.4.2. Market estimates and forecasts by application, 2018 - 2028 (Revenue, USD Million)
6.4.5. Japan
6.4.5.1. Market estimates and forecasts by product, 2018 - 2028 (Revenue, USD Million)
6.4.5.2. Market estimates and forecasts by application, 2018 - 2028 (Revenue, USD Million)
6.5. Latin America
6.5.1. Market estimates and forecasts by product, 2018 - 2028 (Revenue, USD Million)
6.5.2. Market estimates and forecasts by application, 2018 - 2028 (Revenue, USD Million)
6.5.3. Brazil
6.5.3.1. Market estimates and forecasts by product, 2018 - 2028 (Revenue, USD Million)
6.5.3.2. Market estimates and forecasts by application, 2018 - 2028 (Revenue, USD Million)
6.5.4. Mexico
6.5.4.1. Market estimates and forecasts by product, 2018 - 2028 (Revenue, USD Million)
6.5.4.2. Market estimates and forecasts by application, 2018 - 2028 (Revenue, USD Million)
6.6. Middle East & Africa
6.6.1. Market estimates and forecasts by product, 2018 - 2028 (Revenue, USD Million)
6.6.2. Market estimates and forecasts by application, 2018 - 2028 (Revenue, USD Million)
Chapter 7. Competitive Landscape
7.1. Alphabet Inc.
7.1.1. Company overview
7.1.2. Financial performance
7.1.3. Product benchmarking
7.1.4. Recent developments
7.2. Samsung Electronics Co. Ltd.
7.2.1. Company overview
7.2.2. Financial performance
7.2.3. Product benchmarking
7.2.4. Recent developments
7.3. Sony Group Corporation
7.3.1. Company overview
7.3.2. Financial performance
7.3.3. Product benchmarking
7.3.4. Recent developments
7.4. Huawei Technologies Group Co. Ltd.
7.4.1. Company overview
7.4.2. Financial performance
7.4.3. Product benchmarking
7.4.4. Recent developments
7.5. Apple Inc.
7.5.1. Company overview
7.5.2. Product benchmarking
7.5.3. Product benchmarking
7.5.4. Recent developments
7.6. Xiaomi Corporation
7.6.1. Company overview
7.6.2. Financial performance
7.6.3. Product benchmarking
7.6.4. Recent developments
7.7. Adidas AG
7.7.1. Company overview
7.7.2. Financial performance
7.7.3. Product benchmarking
7.7.4. Recent developments
7.8. Nike Inc.
7.8.1. Company overview
7.8.2. Financial performance
7.8.3. Product benchmarking
7.8.4. Recent developments
7.9. FitBit Inc.
7.9.1. Company overview
7.9.2. Financial performance
7.9.3. Product benchmarking
7.9.4. Recent developments
7.10. Garmin Ltd.
7.10.1. Company overview
7.10.2. Financial performance
7.10.3. Product benchmarking
7.10.4. Recent developments
List of Tables
Table 1 Global wearable technology market, 2018-2028 (USD Million)
Table 2 Global wearable technology market estimates and forecasts by region, 2018-2028 (USD Million)
Table 3 Global wearable technology market estimates and forecasts by product, 2018-2028 (USD Million)
Table 4 Global wearable technology market estimates and forecasts by application, 2018-2028 (USD Million)
Table 5 Global wrist-wear market by region, 2018-2028 (USD Million)
Table 6 Global eye-wear & head-wear market by region, 2018-2028 (USD Million)
Table 7 Global foot-wear market by region, 2018-2028 (USD Million)
Table 8 Global neck-wear market by region, 2018-2028 (USD Million)
Table 9 Global body-wear market by region, 2018-2028 (USD Million)
Table 10 Global others market by region, 2018-2028 (USD Million)
Table 11 Global consumer electronics market by region, 2018-2028 (USD Million)
Table 12 Global healthcare market by region, 2018-2028 (USD Million)
Table 13 Global enterprise and industrial application market by region, 2018-2028 (USD Million)
Table 14 Global others market by region, 2018-2028 (USD Million)
Table 15 North America wearable technology market by product, 2018-2028 (USD Million)
Table 16 North America wearable technology market by application, 2018-2028 (USD Million)
Table 17 U.S. wearable technology market by product, 2018-2028 (USD Million)
Table 18 U.S. wearable technology market by application, 2018-2028 (USD Million)
Table 19 Canada wearable technology market by product, 2018-2028 (USD Million)
Table 20 Canada wearable technology market by application, 2018-2028 (USD Million)
Table 21 Europe wearable technology market by product, 2018-2028 (USD Million)
Table 22 Europe wearable technology market by application, 2018-2028 (USD Million)
Table 23 Germany wearable technology market by product, 2018-2028 (USD Million)
Table 24 Germany wearable technology market by application, 2018-2028 (USD Million)
Table 25 France wearable technology market by product, 2018-2028 (USD Million)
Table 26 France wearable technology market by application, 2018-2028 (USD Million)
Table 27 U.K. wearable technology market by product, 2018-2028 (USD Million)
Table 28 U.K. wearable technology market by application, 2018-2028 (USD Million)
Table 29 Asia Pacific wearable technology market by product, 2018-2028 (USD Million)
Table 30 Asia Pacific wearable technology market by application, 2018-2028 (USD Million)
Table 31 China wearable technology market by product, 2018-2028 (USD Million)
Table 32 China wearable technology market by application, 2018-2028 (USD Million)
Table 33 India wearable technology market by product, 2018-2028 (USD Million)
Table 34 India wearable technology market by application, 2018-2028 (USD Million)
Table 35 Japan wearable technology market by product, 2018-2028 (USD Million)
Table 36 Japan wearable technology market by application, 2018-2028 (USD Million)
Table 37 Latin America wearable technology market by product, 2018-2028 (USD Million)
Table 38 Latin America wearable technology market by application, 2018-2028 (USD Million)
Table 39 Brazil wearable technology market by product, 2018-2028 (USD Million)
Table 40 Brazil wearable technology market by application, 2018-2028 (USD Million)
Table 41 Mexico wearable technology market by product, 2018-2028 (USD Million)
Table 42 Mexico wearable technology market by application, 2018-2028 (USD Million)
Table 43 Middle East & Africa wearable technology market by product, 2018-2028 (USD Million)
Table 44 Middle East & Africa wearable technology market by application, 2018-2028 (USD Million)
List of Figures
FIG. 1 Market segmentation
FIG. 2 Wearable Technology-Market size and growth prospects
FIG. 3 Wearable Technology Market-Value chain analysis
FIG. 4 Market dynamics
FIG. 5 Porter’s Five Forces Analysis
FIG. 6 Penetration & growth prospect mapping
FIG. 7 Wearable Technology Market-PESTEL analysis
FIG. 8 Wearable Technology market share by product, 2020 & 2028
FIG. 9 Wearable Technology market share by application, 2020 & 2028
FIG. 10 Wearable Technology market share by region, 2020 & 2028
Note: Product cover images may vary from those shown
  • Alphabet Inc.
  • Samsung Electronics Co. Ltd.
  • Sony Group Corporation
  • Huawei Technologies Group Co. Ltd.
  • Apple Inc.
  • Xiaomi Corporation
  • Adidas AG
  • Nike Inc.
  • FitBit Inc.
  • Garmin Ltd.
Note: Product cover images may vary from those shown

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