Wearable Computing Market: Global Opportunity Analysis and Industry Forecast, 2021–2030
— Allied Market Research
PORTLAND, OREGON, UNITED STATES, September 20, 2023/EINPresswire.com/ — Allied Market Research published a report on the Wearable Computing Market by Product Type (Smart Watches, Smart Jewelry, Fitness Trackers, Head Mounted Display, Body Worn Cameras, and Others), Connectivity (Bluetooth, WI-FI, 4G/5G, and Others), and End Use (Fitness & Wellness, Healthcare, Entertainment, Defense, Gaming, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.
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.
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A wearable computing is a small computing device designed to be worn as an accessory on a user’s body. Wearable computing has specific uses, such as fitness trackers, or have a wide array of features, such as a smartwatch with many “smart” functions similar to those found on a smartphone. More advanced wearable computing devices allow users to read and respond to emails, send text messages, browse the web, view photos or video, and view social media notifications. Wearables are typically worn on the wrist like smartwatches, strapped to the arm, on the head, or hung from the neck.
The high development of wearable devices such as fitness trackers, smart watch phones, smart health watches, and smart clothing is highly driving wearable computing in the healthcare industry. As the wearable computing is equipped with advanced features that monitor health-related problems and make the diagnostic process more convenient for medical practitioners is highly leading to the need for advanced wearable technology. Moreover, the rise in trend of health consciousness among the populous, medical features, such as ECG, heart rate fluctuation monitoring, and pulse rate tracking, and penetration of smart clothing with increased funding further influence the wearable computing market growth.
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The research report presents a complete judgment of the wearable computing market trends, growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. Also, these research report provides accurate economic, global, and country-level predictions and analysis, size and share analysis, market dynamics, segmental analysis, top investment pockets, competition landscape, market drivers, restraints, and opportunities
The wearable computing industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market’s strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the global wearable computing market include,
Google LLC (U.S.)
Huawei Technologies Co., Ltd. (China)
Fossil Group, Inc. (U.S.)
Samsung Electronics (South Korea)
Sony Corporation (Japan)
Xiaomi Corporation (China)
Sensoria Inc., (U.S.)
Top Impacting Factors
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 wearable computing 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 the global wearable computing industry during the forecast period.
The research uses both primary and secondary research to assemble data on the various facets of the international wearable computing market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on.
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Key Benefits for Stakeholders:
1) The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
2) This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.
3) Major countries in each region are mapped according to their revenue contribution to the global market.
4) Porter’s five forces analysis illustrates the potency of the buyers and the wearable computing market share of key vendors.
5) The report includes major wearable computing suppliers along with the company overview, business segments, product portfolio, and key strategic moves and development in the market.
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.