Consumer Electronics and Wearables Market : Rising Trends and New Technologies Research Report Till 2025
Wearable technology is being highly recognized among customers due to its unique and versatile nature compared to other electronic devices. With increasing usage of digital smart gadgets, the consumer electronics and wearables market is also expanding.
These smart gadgets are being used in a wide variety of applications such as gaming, sports and fitness, media, healthcare and much more. For instance, the Fitbit charge 2, a fitness tracker, offers features such as auto sleep tracking and sleep stages, long battery life, multi sports tracking and connected GPS, cardio fitness level and more.
The technological enhancements in wearable technologies such as smart watches, smart glasses, smart garments and more are influencing market growth. The rising demand for such user-friendly smart gadgets among consumers is also fuelling market growth. On the other hand, factors such as lack of data privacy and high cost may hamper growth of market.
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The global consumer electronics and wearables market is bifurcated into segments such as product type and application.
On the basis of product type, the market is segmented into eye wear, wrist wear, neck wear, head wear, foot wear and body wear. In terms of application the market is divided into sports, media and entertainment, fashion, medical and healthcare and others.
The market is analysed across regions North America, Europe, Asia Pacific (APAC) and Latin America, Middle East and Africa (LAMEA).Factors such as rapid adoption of digital technologies and increasing advancements in smart gadgets are influencing market growth in North America. Asia Pacific is also coming up in this market due to increasing use of smartphones and other such technologies among users.
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The key companies operating in this market are Fitbit Inc., Apple Inc., Xiaomi Technology Co. Ltd., Samsung Electronics, LG Electronics, Adidas Group, Sony Corporation, Google, Epson America, Nike, Misfit Inc. and Jawbone Inc. Google offers Google glass which is a wearable computer in the form of eyeglasses. It functions as a hands free smartphone and works on voice commands.
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