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Global Wearable Computing Market to reach USD 22.59 billion by the end of 2029

Global Wearable Computing Market Size study & Forecast, by Product Type (Smart Watches, Head Mounted Displays, Smart Clothing, Ear Worn, Fitness Trackers, Body Worn Camera, and Exoskeleton) by End User (Fitness and Wellness, Medical and Healthcare, Infotainment, Industrial, and Defense) and Regional Analysis, 2022-2029

Product Code: ECE-29036346
Publish Date: 25-01-2023
Page: 200

Global Wearable Computing Market is valued approximately USD 20.35 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 1.5% over the forecast period 2022-2029. The wearable computing market is expanding as a result of consumers’ increasing adoption of wearable gadgets like smartwatches and augmented reality gadgets. Along with this, major driving factors for the market are rising health awareness, growing adoption of IoT technology and rising funding by the key market players is driving the growth for the market. Moreover, rising innovation by the key market players is creating lucrative growth opportunity for the market over the forecast period.

Over 80% of consumers, according to Infopulse, are willing to wear fitness wearables, indicating their concern about keeping tabs on their health. By 2030, 500 billion gadgets are expected to be connected to the internet, according to Cisco. These interconnected devices form the Internet of Things. The Mi Band 4 is Xiaomi’s newest fitness tracker, which was released in 2019. Compared to its predecessors, it has a display that is about 40% more prominent. Moreover, for instance, Nuheara unveiled its cutting-edge hearing aids, the IQbuds MAX, in January 2020. They have hybrid active noise cancellation and special capabilities to customize and improve the wearer’s soundscape. However, the high cost of raw material is stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Wearable Computing Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. One of the biggest markets for smart wearables is in North America, with the United States leading the way, followed by Canada. Some of the primary market drivers include the rise in disposable income and the accelerated adoption and demand for new technological gadgets. As China’s strong economic growth and government plans to upgrade its economic infrastructure, the APAC region is anticipated to expand at the greatest CAGR.

Major market player included in this report are:
Adidas AG (Germany)
Apple, Inc. (U.S.)
Fitbit, Inc. (U.S.)
Pebble Technology Corporation (U.S.)
Garmin Ltd. (U.S.)
Jawbone (U.S.)
LG Electronics Inc. (South Korea)
Motorola Mobility Holdings, Inc. (U.S.)
Sony Corporation (Japan)
Samsung Electronics Co., Ltd. (South Korea)

Recent Developments in the Market:
 In May 2020, the release of Garmin’s latest maritime GPS smartwatch, the quatix 6X Solar, which has a clear solar charging display that draws power from the sun to prolong the battery life. The quatix 6X Solar from Garmin combines all of the characteristics of the fnix 6X Pro Solar with a focus on boating, fishing, cruising, and sailing capabilities so that customers can spend more time on the water. It is the first marine-focused GPS smartwatch from Garmin to support solar charging.
 The smart-hearing firm Nuheara debuted its IQbuds2 MAX earbuds in January 2020. With this device, the wearer’s soundscape can be customised and improved thanks to hybrid active noise cancellation technology. Additionally, this product gives users the option to customise their soundscape.
Global Wearable Computing Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product Type, End User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Product Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Smart Watches
Head Mounted Displays
Smart Clothing
Ear Worn
Fitness Trackers
Body Worn Camera

By End User:
Fitness and Wellness
Medical and Healthcare

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Wearable Computing Market, by Region, 2019-2029 (USD Billion)
1.2.2. Wearable Computing Market, by Product Type, 2019-2029 (USD Billion)
1.2.3. Wearable Computing Market, by End User, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Wearable Computing Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Wearable Computing Market Dynamics
3.1. Wearable Computing Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing health awareness Growing adoption of IoT technology
3.1.2. Market Challenges High cost of raw material
3.1.3. Market Opportunities Rising innovation by the key market player
Chapter 4. Global Wearable Computing Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Wearable Computing Market, by Product Type
6.1. Market Snapshot
6.2. Global Wearable Computing Market by Product Type, Performance – Potential Analysis
6.3. Global Wearable Computing Market Estimates & Forecasts by Product Type 2019-2029 (USD Billion)
6.4. Wearable Computing Market, Sub Segment Analysis
6.4.1. Smart Watches
6.4.2. Head Mounted Displays
6.4.3. Smart Clothing
6.4.4. Ear Worn
6.4.5. Fitness Trackers
6.4.6. Body Worn Camera
6.4.7. Exoskeleton
Chapter 7. Global Wearable Computing Market, by End User
7.1. Market Snapshot
7.2. Global Wearable Computing Market by End User, Performance – Potential Analysis
7.3. Global Wearable Computing Market Estimates & Forecasts by End User 2019-2029 (USD Billion)
7.4. Wearable Computing Market, Sub Segment Analysis
7.4.1. Fitness and Wellness
7.4.2. Medical and Healthcare
7.4.3. Infotainment
7.4.4. Industrial
7.4.5. Defense
Chapter 8. Global Wearable Computing Market, Regional Analysis
8.1. Wearable Computing Market, Regional Market Snapshot
8.2. North America Wearable Computing Market
8.2.1. U.S. Wearable Computing Market Product Type breakdown estimates & forecasts, 2019-2029 End User breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Wearable Computing Market
8.3. Europe Wearable Computing Market Snapshot
8.3.1. U.K. Wearable Computing Market
8.3.2. Germany Wearable Computing Market
8.3.3. France Wearable Computing Market
8.3.4. Spain Wearable Computing Market
8.3.5. Italy Wearable Computing Market
8.3.6. Rest of Europe Wearable Computing Market
8.4. Asia-Pacific Wearable Computing Market Snapshot
8.4.1. China Wearable Computing Market
8.4.2. India Wearable Computing Market
8.4.3. Japan Wearable Computing Market
8.4.4. Australia Wearable Computing Market
8.4.5. South Korea Wearable Computing Market
8.4.6. Rest of Asia Pacific Wearable Computing Market
8.5. Latin America Wearable Computing Market Snapshot
8.5.1. Brazil Wearable Computing Market
8.5.2. Mexico Wearable Computing Market
8.6. Rest of The World Wearable Computing Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Adidas AG (Germany) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Apple, Inc. (U.S.)
9.2.3. Fitbit, Inc. (U.S.)
9.2.4. Pebble Technology Corporation (U.S.)
9.2.5. Garmin Ltd. (U.S.)
9.2.6. Jawbone (U.S.)
9.2.7. LG Electronics Inc. (South Korea)
9.2.8. Motorola Mobility Holdings, Inc. (U.S.)
9.2.9. Sony Corporation (Japan)
9.2.10. Samsung Electronics Co., Ltd. (South Korea)
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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