Persistence Market Research
Global Smart Wearable Devices Market: Overview
Smart wearable devices facilitate constant connection between people, places, and things. The incorporation of technology into wearable devices results in smart devices which could be in the form of watches, eyewear, and wristband. Such smart devices play a crucial role in various sectors such as fitness and sports, lifestyle, and defense. Rising demand for monitoring heartbeat, growing need for checking daily activity, and increasing awareness about health consciousness are expected to drive the global smart wearable devices market. Nowadays, obesity and diabetes appears as a major threat worldwide. Therefore, growing adoption of smart wearable devices for monitoring and regulating fitness related information is expected to fuel the global smart wearable devices market.
Smart wearable technology has also emerged in the entertainment section in the form of AR glasses and VR headsets. These entertainment smart devices use new techniques in order to provide a new experience of digital media to its customers. Furthermore, such technologically advanced products are extensively used in military, health and wellness, fitness and these devices have become an integral part of people’s day-to-day life. Moreover, rising demand for wireless sports and fitness devices, growing adoption of smart devices by athletes, runners, and gym-goers, swimmers and increasing need for controlling notifications, music, and alarms effortlessly are also believed to thrust the global smart wearable devices market. Smart wearable devices are considered as the future of healthcare as they are highly used not only health monitoring, but also in clinical trials. Such devices helps in passively collecting data along with providing representative picture of drug experiments.
Smart Wearable Devices Market: Market Overview
Smart wearable devices are the integration of advanced technologies into wearable objects such as a watch, eyewear, wristband, etc. Smart wearable devices include smartwatches, fitness trackers, VR headsets, smart wristbands, Activity tracker, sports watches, and other smart wearable devices. There is increasing adoption of these devices among consumers as devices facilitate the connection of places, people, and things. The primary factors which are expected to propel the growth of smart wearable devices are the introduction of innovative products used in daily life such as activity monitoring, heartbeat monitoring, etc. Many leading players are creating such smart wearable devices which are expected to lead wearable technologies to another level in future. Smart wearable devices have also entered into entertainment sector by creating new techniques to experience digital media. VR headsets and AR glasses have come to represent the smart wearable devices in entertainment. This smart wearable devices are used for application in various sectors such as defense, lifestyle, fitness and sports, and others. One of the factor is rise in awareness of wearables and technological advancements which is expected to drive the smart wearable devices market. Smart wearable devices allow the user to check health-related information on their smart wearables. Obesity has become a major concern in many parts of the world, and therefore people are selecting wearable technology for monitoring the health and fitness related data.
Smart Wearable Devices Market: Market Dynamics
Rising consumer awareness and higher adoption of smart wearable devices in healthcare are driving the growth of global smart wearable devices market. These factors are projected to spur the demand in the forecast period.
However, higher cost of manufacturing these wearable devices is a major challenge for market players and is expected to hinder the growth of smart wearable devices market.
Global Smart Wearable Devices Market: Market Segmentation
Smart Wearable Devices market segmented by devices, function, application, and region.
Segmentation by devices in Smart Wearable Devices market:
Segmentation by function in Smart Wearable Devices market:
Segmentation by application in Smart Wearable Devices market:
Global Smart Wearable Devices Market: Competition Landscape
Few prominent players in Smart Wearable Devices market include Samsung Electronics Co., Ltd, Apple Inc., Adidas Group, NIKE, Inc., Garmin Ltd., Fitbit Inc., Sony Corporation, LG Electronics Inc., Motorola Corporation, Qualcomm Inc., Pebble Technology Corp., Withings SA and Xiaomi Technology Co. Ltd., etc.
Smart Wearable Devices Market: Regional Outlook
North America is expected to be the major contributor to smart wearable devices market. Europe also shows the highest potential for growth which is followed by Asia Pacific Region. North America Region is estimated to witness higher growth due to various advancement in wearable technologies in smart devices and existence of leading players in U.S. Asia Pacific is also projected to contribute significantly due to the rising usage of smart devices in consumer electronics and healthcare sector. Latin America and MEA are expected to contribute significantly in the upcoming years.
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Regional analysis of Global Smart Wearable Devices Market includes
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