Wearable Electronics Market Analysis, Business Structure, Trends, Growth, Share, and Top Key Players

Wearable Electronics Market Research Report and Outlook By 2023

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Report Description and Highlights

Report Description

Wearable Electronics Market Report By Product Type (Smart Bands, Smart Watches, Smart Clothing, Smart Glasses and Head Mounted Displays), Component (Networking and Positioning Components, Power Supply Components, Sensing Components and Others), Application, Region In recent years, the global wearable electronics market has witnessed a robust growth. This can be accredited to the rising demand for smartphones, advent of mobile wireless systems and increasing adoption of wearable electronics in industries like healthcare and sports and fitness.

Market Overview: According to the latest report by IMARC Group, titled “Wearable Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global wearable electronics market reached a volume of around 116 Million Units in 2017. Wearable electronics refer to integrated computing devices that can be worn as an accessory or incorporated into clothing. They assist in managing time, reducing costs, handling emergency cases and improving the overall quality of life. In recent years, consumers have started to prefer wearable electronic gadgets like smartwatches and fitness bands to track their day-to-day physical activities. Moreover, progress in technology has led to the introduction of innovative wearable electronics which are gaining traction due to the inflating income levels of the consumers.

Report Description and Highlights

Report Description Market Trends:

In the early 2000s, the wearable electronics market was at a nascent stage. However, with the emergence of mobile wireless systems and growing demand for smartphones, particularly in the developing regions, the market witnessed a healthy growth. Wearable electronics now find applications in diverse industries such as sports, fitness, medical, healthcare, entertainment and aerospace. In the healthcare industry, these devices are employed to efficiently monitor the health, quality of sleep and step count of the user accurately and effortlessly. Moreover, these devices record the physiological data of patients who suffer from chronic conditions and enable timely medical interventions for them. The market is also being driven by a number of other forces such as the convergence of technologies, growing awareness about the benefits of IoT devices and increasing adoption of digital services.

Looking forward, the market volume is projected to reach nearly 290 Million Units by 2023, expanding at a CAGR of more than 16% during 2018-2023.

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Market Forecast

Sample Figure: Global: Wearable Electronics Market Forecast: Volumes (in Million Units), 2018-2023

184.3

191.7

199.3

207.3

2018

2019

2020

2021

215.6

224.2

2022

2023

Market Segmentation

Report Description

Wearable Electronics Market Segmentation: Market Segmentation by Product Type o o o o o

Smart Bands Smart Watches Smart Clothing Smart Glasses Head Mounted Displays (HMD),

On the basis of products, the market has been segmented as smart bands, smart watches, smart clothing, smart glasses and head mounted displays (HMD). Currently, smart bands represent the most popular type of wearable electronics due to the rising health and fitness awareness among the global population.

Market Segmentation by Component • •

Networking and Positioning Components Power Supply Components

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Market Segmentation

Report Description • • • •

Sensing Components Optoelectronic and Display Components Control Components Interface Components

Based on components, the market has been segregated as networking and positioning components, power supply components, sensing components, optoelectronic and display components, control components, and interface components. Amongst these, power supply holds the majority of the market share.

Market Segmentation by Region • • • • •

North America Europe Asia Pacific Latin America Middle East and Africa

Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Presently, North America is the leading market, holding the majority of the global wearable electronics market share.

Regional Segmentation

North America

Europ e

Asia- Pacific

Latin America

Middle East and Africa

Market Segmentation

Report Description

Market Segmentation by Application • • • • •

Healthcare Applications Consumer Applications Sports and Fitness Applications Industrial and Commercial Applications Others

On the basis of applications, consumer applications account for the largest market share. Other application segments include healthcare, sports and fitness, and industrial and commercial.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

• •

Sony Apple

Market Segmentation

Report Description • • • • • • • • • • • •

Adidas (NuMetrex) BAE Systems, Fitbit Garmin, Carre Technologies Google Jawbone Kopin LG Electronics Ohmatex OMsignal Nike Recon Instruments Rockwell Collins

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institutions

Report Description and Highlights

Report Description

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