The wrist apparel segment will grow at a CAGR of 17.5% from 2021 to 2030

The wrist apparel segment will grow at a CAGR of 17.5% from 2021 to 2030

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Global wearable electronics market

Global wearable electronics market

Global wearable electronics market

Dublin, 12 May 2022 (GLOBE NEWSWIRE) – The report “Wearable Electronics Market by Product and Applications – Global Opportunity Analysis and Industry Forecast, 2021-2030” has been added to by ResearchAndMarkets.com offering.

The global size of the wearable electronics market was valued at $ 81.40 billion in 2020 and is projected to reach $ 459.58 billion by 2030, growing at a CAGR of 19.96% from 2021 to 2030.

The main factor driving the growth of the wearable electronics market includes the lower cost of the devices due to the emergence of a large number of manufacturers and the increased awareness among customers for health-related activities and an increase in usage. among customers of various age profiles for patient tracking systems. However, the increase in the number of customers adopting digital devices and the presence of mobility on the Internet should hamper the growth of trends in the wearable electronics market. Conversely, increased investment in building a connected ecosystem is expected to offer profitable opportunities in the wearable electronics market.

The wrist apparel segment was the largest contributor to revenue in 2020 and is expected to grow at a CAGR of 17.5% from 2021 to 2030. Factors such as progress and innovations in smart watches by major players help drive the wearable electronics market. The bodywear segment consumes a market share of 20.0%. The surge in the adoption of wearable devices such as smart watches, straps, headphones and gloves in the manufacturing industry is one of the main drivers of this growth.

The global wearable electronics market is segmented into product, application and region. By product, the market is fragmented into wrist wear, eyewear, bodysuits and other garments. In addition, the applications segment is divided into healthcare, entertainment, industry and others.

At the regional level, the wearable electronics market is analyzed in North America (United States, Canada and Mexico), Europe (Germany, United Kingdom, France, Italy and rest of Europe), Asia-Pacific (China, Japan, Korea South, India, and the rest of Asia-Pacific) and LAMEA (Latin America, Middle East and Africa). Market share in Asia-Pacific is expected to grow at a faster rate than in other regions. Factors such as rapid technological advances and innovations and the transformation from automated devices to autonomous devices thanks to the integration and advancement of IoT and AI technologies are increasing the demand for the wearable electronics industry.

Analysis of the impact of COVID-19
The size of the global wearable electronics market has been significantly impacted by the COVID-19 outbreak. New projects around the world have been stalled, which, in turn, has reduced market growth. In the current pandemic scenario, health has become a top priority for people, so the demand for health and fitness related wearable products such as fitness bands and smartwatches is expected to increase significantly.

Main findings of the study

  • In terms of revenue and volume, the wrist apparel segment contributed to the top wearable electronics segment in 2020 and is expected to maintain its lead throughout the forecast period of the wearable electronics market.

  • In 2020, North America accounted for a share of over 29% globally and is seeing significant growth in the wearable electronics market share

Companies mentioned:

  • Adidas AG

  • The Apple company.

  • Fitbit, Inc.

  • Google inc.

  • Nike, Inc.

  • Sony Corporation

  • Samsung electronics

  • Garmin srl

  • Sensoria Inc.

  • LG Electronics

Key topics covered:

Chapter 1 introduction
1.1. Description of the report
1.2. Key market segments
1.3. Key benefits for stakeholders
1.4. Research methodology

Chapter 2: Executive Summary

Chapter 3: Market Overview
3.1. Market definition and scope
3.2. Key findings
3.3. Porter’s five forces analysis
3.4. Positioning of the best players
3.5. Market dynamics
3.6. Analysis of the impact of Covid-19 on the market

Chapter 4: Wearable Electronics Market, by Product Type
4.1 Overview
4.2 Wear of the wrist
4.3 Eye wear
4.4 Body wear
4.5 Others

Chapter 5: Wearable Electronics Market, By Application
5.1 Overview
5.2 Health
5.3 Entertainment
5.4 Industrial
5.5 Others

Chapter 6: Wearable Electronics Market, By Region
6.1 Overview
6.2 North America
6.3 Europe
6.4 Asia-Pacific
6.5 LAMEA

Chapter 7: Business landscape
7.1. The best winning strategies
7.2. Product mapping of the top 10 players
7.3. Competitive dashboard
7.4. Competitive heatmap
7.5 Key development

For more information on this report, please visit https://www.researchandmarkets.com/r/qgcp9o

Attached

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