Reports

Global Wearable Technology Market to Reach 464 Million Shipments by 2026, Aided by the Rising Technology

Wearable Technology Market

Global Wearable Technology Market Size, Report: By Component: Software, Service; By Type: Wrist-Wear, Eye-Wear and Head-Wear, Others; By Technology: Computing Technology, Display Technology, Others; By Application: Consumer Electronics, Healthcare, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

Global Wearable Technology Market Outlook

The global wearable technology market reached a volume of about 247.77 million shipments in 2023. The industry is further expected to grow at a CAGR of about 17% in the forecast period of 2024-2032 to reach a value of around 635.17 million shipments by 2032.   

 

Global Wearable Technology Market

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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: Market 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.

 

Global Wearable Technology Market By Type

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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.

 

Global Wearable Technology Market By Region

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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 market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Type, Technology, Application, Region
Breakup by Component Software, Service
Breakup by Type Wrist-Wear, Eye-Wear and Head-Wear, Foot-Wear, Neck-Wear, Body-Wear, Others
Breakup by Technology Computing Technology, Display Technology, Networking Technology, Positioning Technology, Sensor Technology, Others
Breakup by Application Consumer Electronics, Healthcare, Enterprise and Industrial Application, Others
Breakup by Region North America, Latin America, Europe, Middle East and Africa, Asia Pacific
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Apple Inc., Samsung Electronics Co., Ltd., Fitbit, Inc., Xiaomi Corp, Alphabet Inc., LG Electronics, Inc., Huawei Technologies Co., Ltd., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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    Opportunities and Challenges in the Market
8    Global Wearable Technology Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Wearable Technology Historical Market (2018-2023) 
    8.3    Global Wearable Technology Market Forecast (2024-2032)
    8.4    Global Wearable Technology Market by Component
        8.4.1    Software
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Service
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Wearable Technology Market by Type
        8.5.1    Wrist-Wear
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Eye-Wear and Head-Wear
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Foot-Wear
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Neck-Wear
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Body-Wear
            8.5.5.1    Historical Trend (2018-2023)
            8.5.5.2    Forecast Trend (2024-2032)
        8.5.6    Others
    8.6    Global Wearable Technology Market by Technology
        8.6.1    Computing Technology
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Display Technology
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Networking Technology
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Positioning Technology
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Sensor Technology
            8.6.5.1    Historical Trend (2018-2023)
            8.6.5.2    Forecast Trend (2024-2032)
        8.6.6    Others
    8.7    Global Wearable Technology Market by Application
        8.7.1    Consumer Electronics
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Healthcare
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Enterprise and Industrial Application
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Others
    8.8    Global Wearable Technology Market by Region       
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032) 
9    North America Wearable Technology Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Wearable Technology Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Wearable Technology Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Wearable Technology Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Wearable Technology Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Apple Inc.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Samsung Electronics Co., Ltd.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Fitbit, Inc.
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Xiaomi Corp
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Alphabet Inc.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    LG Electronics, Inc.
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Huawei Technologies Co., Ltd.
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    Others
17    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Wearable Technology Market: Key Industry Highlights, 2018 and 2032
2.    Global Wearable Technology Historical Market: Breakup by Component (USD Billion), 2018-2023
3.    Global Wearable Technology Market Forecast: Breakup by Component (USD Billion), 2024-2032
4.    Global Wearable Technology Historical Market: Breakup by Type (USD Billion), 2018-2023
5.    Global Wearable Technology Market Forecast: Breakup by Type (USD Billion), 2024-2032
6.    Global Wearable Technology Historical Market: Breakup by Technology (USD Billion), 2018-2023
7.    Global Wearable Technology Market Forecast: Breakup by Technology (USD Billion), 2024-2032
8.    Global Wearable Technology Historical Market: Breakup by Application (USD Billion), 2018-2023
9.    Global Wearable Technology Market Forecast: Breakup by Application (USD Billion), 2024-2032
10.    Global Wearable Technology Historical Market: Breakup by Region (USD Billion), 2018-2023
11.    Global Wearable Technology Market Forecast: Breakup by Region (USD Billion), 2024-2032
12.    North America Wearable Technology Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    North America Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Europe Wearable Technology Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Europe Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Asia Pacific Wearable Technology Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Asia Pacific Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Latin America Wearable Technology Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Latin America Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Middle East and Africa Wearable Technology Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Middle East and Africa Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Global Wearable Technology Market Structure

Key Questions Answered in the Report

What was the global wearable technology market size in 2023?

In 2023, the market attained a volume of nearly 247.77 million shipments.

What is the growth rate of the global wearable technology market?

The market is projected to grow at a CAGR of 17% between 2024 and 2032.

What is the forecast outlook of the global wearable technology market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about 635.17 million shipments by 2032.   

What are the major market drivers?

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

What are the key trends of the market?

Rising investments and growing demand for real-time health monitoring gadgets are the key trends of the market.

What are the major regional markets of wearable technology, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the leading components of wearable technology in the market?

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

What are the major types of wearable technology in the market?

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

What are the significant technologies in the market?

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

What are the leading applications in the market?

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

Who are the key market players, according to the report?

The key players in the global wearable technology market 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 247.77 million shipments in 2023, 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 2024-2032, growing at a CAGR of 17%. The market is projected to reach 635.17 million shipments by 2032.   

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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