Wearable Technology Market Is Expected To Witness A Huge Growth Over The Forecast Period | Key Players: Garmin Ltd., Xiaomi, Huawei Technologies Co.Ltd.

According to a new market research report published by Global Insight Services "Wearable Technology Market is expected to reach US$ XX bn by 2031". Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Incorporating MEMS sensors such as accelerometer, gyroscope, and magnetometer into specialized wearable devices has led to rapid growth of wearable device market. These sensors have aided the fitness tracking wearable in monitoring body activities. Factors such as rising demand for smart devices in the healthcare sector and a surge in demand for IoT devices will propel the market forward.

The increased frequency of chronic diseases and obesity has led to increased adoption of wearable gadgets such as activity trackers and body monitors that provide real-time data on a user's overall health. These wearable gadgets also provide data on daily activities and physiological data like calories expended, heart rate, oxygen level, blood pressure, cholesterol level, and sleep.

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Key Players:

Garmin Ltd.
Xiaomi
Huawei Technologies Co.Ltd.
Motorola Solutions Inc
Sony Corporation
Apple Inc.
Key Trends and Drivers:

Over the projected period, the increased adoption of smartwatches and fitness trackers in the healthcare industry is expected to promote category growth.
Other growth factors for the market include product advancements such as the integration of linked devices with the Internet of Things (IoT), artificial intelligence (AI), and virtual reality (VR). Next-generation screens and tiny sensors are also being developed by manufacturers for use in head-mounted displays for high-end gaming and virtual and mixed reality experiences.
Sensors allow athletes and their coaches to collect data on anything from heart rate to acceleration to sleep, which has revolutionized the way certain athletes train. Athletes can use this information to create more effective training regimens, identify shortcomings, and track progress toward fitness goals.
Some of the key drivers in developing regions are the rise in disposable income and the fast acceptance and popularity of upgraded technologies.
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Segmentation:

By Type:

Wearable Textiles
Wearable Products and Devices (Non-Textiles)
By Product:

Wristwear
Headwear
Footwear
Fashion & Jewelry
Bodywear
By Application:

Consumer Electronics
Healthcare
Enterprise and Industrial Application
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In-depth segmentation which can be customized as per your requirements
Free consultation with lead analyst of the report
Excel data pack included with all report purchases
Robust and transparent research methodology
Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario.

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