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Global Wearable Technology Market: By Component: Software, Service; By Type: Wrist-Wear, Eye-Wear and Head-Wear, Others; By Technology: Computing Technology, Display Technology, Others; By Application; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments

Global Wearable Technology Market Outlook

The global wearable technology market reached a volume of about 181 million shipments in 2020. The industry is further expected to grow at a CAGR of about 17% in the forecast period of 2021-2026 to reach a value of around 464 million shipments by 2026.

 

North America Leading the Wearable Technology Industry

North America is known to be one of the centres of technological development around the world. With the launch of smart gadgets, the demand for sophisticated and multi-functional devices is growing. Increasing disposable income and a high rate of adoption of the new wearable devices are key drivers for the market growth in the region. The presence of leading players including Garmin, Apple, and Fitbit also adds to the growth of the wearable technology industry. The regional market is witnessing the inflow of capital from various North American sports associations. Investments are expected to fuel the wearable technology industry in the region.

 

Wearable Technology: Industry Definition and Segmentation

Wearable technology is, mainly, an electronic object incorporated with technology. The wearable technology can be easily worn on body to monitor real-time details. Wearable technology includes wristbands that can be worn on the wrist and helps monitor details such as pulse, heart rate, walking steps, sleeping hours, and many others. Wristbands released by Jawbone, Apple, Fitbit, and many others serve as activity trackers. This has built a large customer base across the globe. The significant customer base is due to the improvement in health brought on by wearable technology.

Based on component, the industry can be divided into:

  • Software
  • Service

The type of the product can be divided as follows:

The technology can be segmented as follows:

  • Computing Technology
  • Display Technology
  • Networking Technology
  • Positioning Technology
  • Sensor Technology
  • Others

It finds wide applications in the following:

  • Consumer Electronics
  • Healthcare
  • Enterprise and Industrial Application
  • Others

The regional markets for wearable technology can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Use of Internet Bolstering the Market Growth

The increasing penetration of the Internet of Things (IoT) and connected devices and the increasing technically sound population are expected to drive demand. Growing concerns about obesity and other chronic diseases have led to the adoption of wearable devices, including body monitors and activity trackers, which provide real-time information on overall health. These wearable products can include information such as blood pressure, oxygen levels, sleep quality and quantity, calorie intake, cholesterol levels, pulse monitoring, and other information needed by the body for day-to-day activities. Increased popularity over the benefits of these devices among professional athletes and leisure fitness customers is expected to fuel demand for fitness and wellness products over the forecast period.

 

Key Industry Players in the Global Wearable Technology Market

The report gives a detailed analysis of the following key players in the global wearable technology market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Apple Inc.
  • Samsung Electronics Co., Ltd.
  • Fitbit, Inc.
  • Xiaomi Corp
  • Alphabet Inc.
  • LG Electronics, Inc.
  • Huawei Technologies Co., Ltd.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Wearable Technology Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Wearable Technology Historical Market (2016-2020) 
    8.3    Global Wearable Technology Market Forecast (2021-2026)
    8.4    Global Wearable Technology Market by Component
        8.4.1    Software
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Service
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
    8.5    Global Wearable Technology Market by Type
        8.5.1    Wrist-Wear
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Eye-Wear and Head-Wear
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Foot-Wear
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Neck-Wear
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2016-2020)
            8.5.4.3    Forecast Trend (2021-2026)
        8.5.5    Body-Wear
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2016-2020)
            8.5.5.3    Forecast Trend (2021-2026)
        8.5.6    Others
    8.6    Global Wearable Technology Market by Technology
        8.6.1    Computing Technology
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Display Technology
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    Networking Technology
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2016-2020)
            8.6.3.3    Forecast Trend (2021-2026)
        8.6.4    Positioning Technology
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2016-2020)
            8.6.4.3    Forecast Trend (2021-2026)
        8.6.5    Sensor Technology
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2016-2020)
            8.6.5.3    Forecast Trend (2021-2026)
        8.6.6    Others
    8.7    Global Wearable Technology Market by Application
        8.7.1    Consumer Electronics
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Healthcare
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
        8.7.3    Enterprise and Industrial Application
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2016-2020)
            8.7.3.3    Forecast Trend (2021-2026)
        8.7.4    Others
    8.8    Global Wearable Technology Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Apple Inc.
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Samsung Electronics Co., Ltd.
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Fitbit, Inc.
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Xiaomi Corp
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Alphabet Inc.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    LG Electronics, Inc.
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Huawei Technologies Co., Ltd.
            12.2.7.1    Company Overview
            12.2.7.2    Product Portfolio
            12.2.7.3    Demographic Reach and Achievements
            12.2.7.4    Certifications
        12.2.8    Others
13    Industry Events and Developments


List of Figures and Tables

1.    Global Wearable Technology Market: Key Industry Highlights, 2016 and 2026
2.    Global Wearable Technology Historical Market: Breakup by Component (USD Billion), 2016-2020
3.    Global Wearable Technology Market Forecast: Breakup by Component (USD Billion), 2021-2026
4.    Global Wearable Technology Historical Market: Breakup by Type (USD Billion), 2016-2020
5.    Global Wearable Technology Market Forecast: Breakup by Type (USD Billion), 2021-2026
6.    Global Wearable Technology Historical Market: Breakup by Technology (USD Billion), 2016-2020
7.    Global Wearable Technology Market Forecast: Breakup by Technology (USD Billion), 2021-2026
8.    Global Wearable Technology Historical Market: Breakup by Application (USD Billion), 2016-2020
9.    Global Wearable Technology Market Forecast: Breakup by Application (USD Billion), 2021-2026
10.    Global Wearable Technology Historical Market: Breakup by Region (USD Billion), 2016-2020
11.    Global Wearable Technology Market Forecast: Breakup by Region (USD Billion), 2021-2026
12.    North America Wearable Technology Historical Market: Breakup by Country (USD Billion), 2016-2020
13.    North America Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2021-2026
14.    Europe Wearable Technology Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    Europe Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Asia Pacific Wearable Technology Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Asia Pacific Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Latin America Wearable Technology Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Latin America Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    Middle East and Africa Wearable Technology Historical Market: Breakup by Country (USD Billion), 2016-2020
21.    Middle East and Africa Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2021-2026
22.    Global Wearable Technology Market Structure

Key Questions Answered in the Report

In 2020, the global wearable technology market attained a volume of nearly 181 million shipments.

The market is projected to grow at a CAGR of 17% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about 464 million shipments by 2026.

The growth of the market is driven by factors like rising population, rising disposable incomes, increased penetration of internet and smartphones, and growing technological advancements.

Rising investments in the industry acts as an important industry trend.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest share in the market.

The leading components of wearable technology in the market are software and service.

The major types of wearable technology in the industry are wrist-wear, eye-wear and head-wear, foot-wear, neck-wear, and body-wear, among others.

The significant technologies of wearable technology in the market are computing technology, display technology, networking technology, positioning technology, and sensor technology, among others.

The leading application segments in the industry are consumer electronics, healthcare, and enterprise and industrial application, among others.

The major players in the industry are Apple Inc., Samsung Electronics Co., Ltd., Fitbit, Inc., Xiaomi Corp, Alphabet Inc., LG Electronics, Inc., and Huawei Technologies Co., Ltd., among others.

Analyst Review

The global wearable technology market attained a volume of 181 million shipments in 2020, driven by the rising penetration of internet and smartphones. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 17%. The market is projected to reach 464 million shipments by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By component, the market is bifurcated into software and service. Based on type, the industry is divided into wrist-wear, eye-wear and head-wear, foot-wear, neck-wear, and body-wear, among others. On the basis of technology, the market is segmented into computing technology, display technology, networking technology, positioning technology, and sensor technology, among others. By application, the industry is categorised into consumer electronics, healthcare, and enterprise and industrial application, among others. The major regional markets for wearable technology are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include Apple Inc., Samsung Electronics Co., Ltd., Fitbit, Inc., Xiaomi Corp, Alphabet Inc., LG Electronics, Inc., and Huawei Technologies Co., Ltd., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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