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Wearable Devices Market (COVID-19 Impact Analysis) - Size, Share, Trends, Profitable Segments Breakdown and Detailed Analysis of Current and Future Industry Figures till 2026
Wearable Devices Market
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Market Analysis: Global Wearable Devices Market
Global Wearable Devices Market is expected to rise from its initial estimated value of USD 24.53 billion in 2018 to an estimated value of USD 88.53 billion by 2026, registering a CAGR of 17.4% in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing penetration of smartphones and also improving phone-based healthcare apps compatible with wearable devices.
Key Market Competitors:
Few of the major competitors currently working in the Wearable Devices Market are Fitbit, Inc. (US), Koninklijke Philips N.V. (Netherlands), BioTelemetry, Inc. (Switzerland), Garmin Ltd. (Switzerland), and OMRON Corporation (Japan). Drägerwerk AG & Co. KGaA (Germany), Nokia Technologies (US), Jawbone (US), Polar Electro (Finland), World Global Network (US), Activeinsights (UK), VitalConnect (US), Xiaomi (China), Misfit (US), and Monica Healthcare (UK) Adidas AG, Apple, Inc.(US) , Google, Inc. (US), , LG Electronics Inc. (South Korea), Nike, Inc (US)., Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), and Xiaomi Technology Co., Ltd. (China) among other vernacular players..
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Market Definition: Global Wearable Devices Market
Wearable technology device isthat type of device which can be worn by a consumer and it gives information regarding to health and fitness. These Devices are hands-free gadgets with practical uses, powered by microprocessors and enhanced with the ability to send and receive data.
According to statistics, the number of connected wearable devices worldwide is expected to jump from an estimate of 325 million in 2016 to over 830 million in 2020. This significant number is expected to act as a driver to the market growth.
Segmentation: Global Wearable Devices Market
Wearable Devices Market : By Product Type
Wrist-wear
Eyewear
Footwear
Neckwear
Body wear
Others
Wearable Devices Market : By Industry
Consumer Products
Healthcare
Industrial
Others
Wearable Devices Market : By Type
Smart Textile
Passive
Active
Ultra-Smart
Non-Textile
Wearable Devices Market : By End Users
Personal Users
Enterprises
Wearable Devices Market : By Geography
North America
South America
Europe
Asia-Pacific
Middle East and Africa
Key Developments in the Market:
In April 2019, Fitbit announced that Fitbit and Snap launched first-ever bitmoji clock face integration on fitbit smartwatches, that provide dynamically updates throughout the day based on your personal health and fitness data.
In March 2019, Fitbit announced four new Wearables products for Making Health and Fitness Accessible and Affordable to More Consumers Worldwide.
Wearable Devices Market Drivers :
There is an increase in technological advancements in wearable medical devices which is expected to act as a driver to the market growth
There is rise in preference for wireless connectivity among healthcare providers which is expected to act as a driver to the market growth
Wearable Devices Market Restraints :
There is issue of data security in wearable devices which is expected to act as a restraint to the market growth.
Reasons to Purchase this Report :
Current and future of global wearable devices market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
Regions/Countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
All segmentation provided above in this report is represented at country level
All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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