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Global Wearable Electronics Market to reach USD 502.34 billion by the end of 2030

Global Wearable Electronics Market Size study & Forecast, by Product (Wrist-Wear, Eye-Wear, Body-Wear, Others), by Application (Healthcare, Entertainment, Industrial, Others) and Regional Analysis, 2023-2030

Product Code: ECE-40539584
Publish Date: 5-12-2023
Page: 200

Global Wearable Electronics Market is valued at approximately USD 117.14 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 19.96% over the forecast period 2023-2030. Wearable electronics refer to electronic devices or technologies that can be worn on the body, typically in the form of accessories or clothing. These devices are designed to provide various functionalities such as tracking fitness metrics, monitoring health parameters, delivering notifications, and enhancing communication. Examples of wearable electronics include smartwatches, fitness trackers, virtual reality headsets, and smart glasses. By integrating technology into wearable form factors, these devices offer convenience, portability, and seamless integration into everyday life, enabling users to stay connected and engaged while on the move. Moreover, the growing electronics industry and increasing use of IoT devices are anticipated as the market drivers. Furthermore, emerging global markets and growing concern towards fitness and sports tracking fuel the market space during the forecast period 2023-2030.

Wearable devices often incorporate a variety of sensors, such as accelerometers, gyroscopes, heart rate monitors, and GPS modules. These sensors are essential for functions like fitness tracking, health monitoring, and navigation. The demand for such sensors has driven innovation and cost reduction, making wearable electronics more feasible. According to the Press Information Bureau in 2022, Wearable electronics as part of the global electronics industry, contribute to its estimated worth of USD 2.9 trillion. The value of the global electronics industry is roughly equivalent to USD 2.9 trillion. This highlights the significant role and economic impact of wearable electronics within the larger electronics market. The Wearable Electronics Market is closely connected to the rapid growth of Internet of Things (IoT) devices worldwide. According to Statista, the number of IoT devices is predicted to nearly triple by 2022, rising from 9.7 billion in 2020 to more than 29 billion by 2030. In terms of pure numbers, China is expected to have the most IoT devices by 2030, with around 5 billion consumer devices. These IoT devices are used in a variety of businesses and consumer markets, with the consumer segment accounting for over 60% of all IoT linked devices in 2020. This proportion is expected to remain consistent over the next decade, highlighting the significant impact on wearable electronics within the IoT ecosystem’s consumer market segment. However, data security & privacy concern and limited battery life is going to hamper the growth of the market during the forecasted period 2030-2030.

The key regions considered for the Global Wearable Electronics Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increase in the internet users and several companies associated with technological innovations in the region. The growing number of internet users provides a broader user base for wearable electronics as they often rely on internet connectivity to sync data, receive updates, and offer cloud-based services. The region’s dominant performance is anticipated to propel the overall demand of wearable electronics. Furthermore, Asia Pacific is expected to grow fastest during the forecast period, owing to factors such as increasing purchasing power of consumers in the region. Wearable electronics often integrate with other devices and services and consumers with higher purchasing power invest in a wider range of smart devices, leading to increased demand for wearables that seamlessly integrate into these ecosystems.

Major market player included in this report are:
Adidas AG
Apple Inc
Fitbit Inc
Google LLC
Nike Inc.
Sony Corporation
Samsung Electronics Co Ltd
Garmin Ltd
Sensoria Inc
LG Corporation
Recent Developments in the Market:
Ø In December 2020, Huawei introduced the health Lab, an initiative aimed at driving sports and health innovation through smart wearables. This innovative facility serves as a collaborative space for Huawei researchers, engineers, and developers to exchange ideas and explore emerging technologies in sports and health. Through their smart wearables, Huawei aims to provide consumers with a holistic and scientifically backed exercise experience, promoting healthier living.
Ø In July 2020, Sony introduced the Reon Pocket, a wearable air conditioner compatible with Android and iOS devices. Currently limited to the Japanese market, this innovative device offers both cooling and heating capabilities. Designed to be worn around the neck, Sony has also created an undershirt with a pocket positioned at the back of the neck to accommodate the Reon Pocket.

Global Wearable Electronics Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü 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 offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:

By Application:

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Wearable Electronics Market, by Region, 2020-2030 (USD Billion)
1.2.2. Wearable Electronics Market, by Product, 2020-2030 (USD Billion)
1.2.3. Wearable Electronics Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Wearable Electronics Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Wearable Electronics Market Dynamics
3.1. Wearable Electronics Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Growing Electronics Industry Increasing Use of IoT Devices
3.1.2. Market Challenges Data Security & Privacy Concern Limited Battery Life
3.1.3. Market Opportunities Emerging Global Markets Growing Concern Towards Fitness and Sports Tracking
Chapter 4. Global Wearable Electronics 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. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Wearable Electronics Market, by Product
5.1. Market Snapshot
5.2. Global Wearable Electronics Market by Product, Performance – Potential Analysis
5.3. Global Wearable Electronics Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
5.4. Wearable Electronics Market, Sub Segment Analysis
5.4.1. Wrist-Wear
5.4.2. Eye-Wear
5.4.3. Body-Wear
5.4.4. Others
Chapter 6. Global Wearable Electronics Market, by Application
6.1. Market Snapshot
6.2. Global Wearable Electronics Market by Application, Performance – Potential Analysis
6.3. Global Wearable Electronics Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Wearable Electronics Market, Sub Segment Analysis
6.4.1. Healthcare
6.4.2. Entertainment
6.4.3. Industrial
6.4.4. Others
Chapter 7. Global Wearable Electronics Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Wearable Electronics Market, Regional Market Snapshot
7.4. North America Wearable Electronics Market
7.4.1. U.S. Wearable Electronics Market Product breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Wearable Electronics Market
7.5. Europe Wearable Electronics Market Snapshot
7.5.1. U.K. Wearable Electronics Market
7.5.2. Germany Wearable Electronics Market
7.5.3. France Wearable Electronics Market
7.5.4. Spain Wearable Electronics Market
7.5.5. Italy Wearable Electronics Market
7.5.6. Rest of Europe Wearable Electronics Market
7.6. Asia-Pacific Wearable Electronics Market Snapshot
7.6.1. China Wearable Electronics Market
7.6.2. India Wearable Electronics Market
7.6.3. Japan Wearable Electronics Market
7.6.4. Australia Wearable Electronics Market
7.6.5. South Korea Wearable Electronics Market
7.6.6. Rest of Asia Pacific Wearable Electronics Market
7.7. Latin America Wearable Electronics Market Snapshot
7.7.1. Brazil Wearable Electronics Market
7.7.2. Mexico Wearable Electronics Market
7.8. Middle East & Africa Wearable Electronics Market
7.8.1. Saudi Arabia Wearable Electronics Market
7.8.2. South Africa Wearable Electronics Market
7.8.3. Rest of Middle East & Africa Wearable Electronics Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Adidas AG Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. Apple Inc
8.3.3. Fitbit Inc.
8.3.4. Google LLC.
8.3.5. Nike Inc.
8.3.6. Sony Corporation
8.3.7. Samsung Electronics Co Ltd
8.3.8. Garmin Ltd.
8.3.9. Sensoria Inc.
8.3.10. LG Corporation
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. 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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