DUBLIN--(BUSINESS WIRE)--The "Wearable Computing Market by Product Type, Connectivity and End Use: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global wearable computing market size is expected to reach $213.55 billion by 2030 from $38.21 billion in 2020, growing at a CAGR of 19.40% from 2021 to 2030.
Wearable computing is a term that refers to computer-powered devices or equipment that can be worn by a user, including clothing, watches, glasses, shoes and similar items. Wearable computing devices can range from providing very specific, limited features like heart rate monitoring and pedometer capabilities to advanced smart functions and features similar to those a smartphone or smartwatch offers.
These more advanced wearable computing devices can typically enable the wearer to take and view pictures or video, read text messages and emails, respond to voice commands, browse the web and more. While wearable computing market devices are only just now starting to emerge from the realm of science fiction into reality, rumored devices like Google Glasses and the Apple iWatch, may soon bring advanced wearable computing devices into the mainstream.
The prominent factors that impact the wearable computing market growth are technological advancements in the wearable devices, increasing adoption of smart watches and fitness bands, and growing popularity of wearable medical and health device. However, high cost of wearable devices and privacy concerns restricts the market growth. On the contrary, rising investment in wearable technologies is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect global wearable computing industry during the forecast period.
The global wearable computing market share is segmented on the basis of product type, connectivity, end use, and region. By product type, the market is classified into smartwatches, smart jewelry, fitness trackers, head mounted display, body worn cameras, and others. The smartwatch segment further sub segmented into extension smartwatch, classic smartwatch, and standalone smartwatch. By connectivity, it is divided into Bluetooth, Wi-Fi, 4G/5G, and others. On the basis of end use, it is segregated into fitness & wellness, healthcare, entertainment, defense, gaming, and others.
Region-wise, the wearable computing market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is dominating the market, due to an increase in adoption of advance technologies in wearable devices and increased awareness among people towards these devices.
Market Dynamics
Drivers
- Growing popularity of wearable medical and health device
- Increasing adoption of smart watches and fitness bands
- Technological advancements in the wearable devices
Restraint
- High cost of wearable devices and privacy concerns
Opportunity
- Rising investment in wearable technologies
Key Market Players
- Apple
- Google LLC
- Garmin
- Huawei Technologies Co., Ltd.
- Samsung Electronics
- Sony Corporation
- Xiaomi Corporation
- Nike
- Fossil Group, Inc.
- Sensoria Inc.
For more information about this report visit https://www.researchandmarkets.com/r/98ntet
