Press release
Wearable Computing Devices Market Size to Hit US$ 162.6 Billion at a CAGR of 17.3% by 2028
Wearable Computing Devices Market
The global wearable computing devices market size reached US$ 54.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 162.6 Billion by 2028, exhibiting a growth rate (CAGR) of 17.3% during 2023-2028.
What are Wearable Computing Devices?
Wearable computing devices are compact electronic devices that are worn on the body, generally as accessories or clothing, and are designed to provide various functionalities while seamlessly integrating into daily life. They are equipped with sensors, processors, and communication capabilities that enable them to collect data, perform tasks, and interact with the user or other devices. They are designed to enhance convenience, accessibility, and connectivity, which allow users to access information, track activities, monitor health metrics, and communicate without the need for holding or interacting with traditional devices like smartphones or computers.
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What Are the Growth Prospects and Trends in The Wearable Computing Devices Industry?
The increasing interest in personal health and fitness represents one of the primary factors driving the demand for wearable computing devices that track metrics, including heart rate, steps taken, and sleep patterns around the world. Moreover, the rising adoption of wearable computing devices by various companies in their employee wellness programs to encourage healthy lifestyles is favoring the growth of the market. In addition, the growing integration of wearables computing devices within the internet of things (IoT) ecosystem, which allows for seamless communication between devices, is contributing to the market growth. Apart from this, the increasing use of wearable computing devices in medical monitoring and diagnostic applications is bolstering the market growth.
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What Is Included in Market Segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
• Smart Watches
• Head Mounted Displays
• Smart Clothing
• Ear Worn
• Fitness Trackers
• Body Worn Camera
• Exoskeleton
• Others
Breakup by Connectivity Type:
• Bluetooth
• Wi-Fi
• 4G/5G
• Others
Breakup by Application:
• Fitness and Wellness
• Medical and Healthcare
• Infotainment
• Industrial and Defense
• Others
Breakup by Region:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including: Apple Inc., Ekso Bionics Holdings Inc., Fossil Group Inc., Garmin Ltd., GoPro Inc., Huawei Technologies Co. Ltd., LG Electronics Inc., OMRON Corporation, Samsung Electronics Co. Ltd., Sony Corporation and Transcend Information Inc.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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