The wearable devices market is anticipated to grow at a CAGR of 15.94% from US$87.6 billion in 2022 to US$246.736 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, March 12, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the wearable devices market is projected to grow at a CAGR of 15.94% between 2022 and 2029 to reach US$246.736 billion by 2029.

One of the key growth drivers to propel the wearable devices market during the forecasted period is the growing health awareness among the general public around the globe. Diseases like obesity and diabetes are increasing every day which requires people to keep track of their activities, calorie intake, cholesterol levels, heartbeat rate, blood pressure, sleeping patterns, etc. Wearable devices serve this purpose.

Another factor that boosts the sales of wearable devices in the market is the rising popularity of social media and people need to stay up to date with every new update that comes. Also, the increase in the convenience of handling these wearable devices and the increase in functionalities provided by these wearable devices are contributing to market growth. The global wearable device market is growing rapidly with its increasing adoption of multiple applications.

Access sample report or view details: https://www.knowledge-sourcing.com/report/wearable-devices-market

The wearable devices market, by product, is divided into four types- Watches, Fabric, Glasses, and Fitness Trackers. Smartwatches are a very popular wearable device that is growing rapidly it is visually appealing for the aesthetic needs of the user and comes with various useful features. Also, there is the fitness tracker that helps give users regular health-related data updates and users can make changes to their daily routine to lead to a healthier lifestyle. These different types of products available for users in the wearable devices category will help the market grow over the years.

The wearable devices market, by end-user, is divided into two types- Personal Users, and Enterprises. There are different use cases for different end-users. For instance, personal users use it to keep track of their daily health updates like calorie intake or burned, steps taken in a day, and heart rate. Also, enterprises use these wearables to make daily operations and communication easy. So, these various use cases for different end users will help in the growth of the market.

The wearable devices market, by connectivity medium, is divided into five types- ANT+, Bluetooth, Wi-Fi, Cellular, and NFC. Wi-fi and Bluetooth technology are easily available on smartphones, tablets, and laptops we use in daily life, and the integration of this technology in wearable devices makes it easy to connect smartphones to these wearable devices. This easy-to-use connectivity medium further contributes to market growth.

The wearable devices market, by technology, is divided into five types- Computer Technology, Display Technology, Networking Technology, Positioning Technology, and Sensor Technology. The advantage of a wearable device is that data is gathered by wireless sensors on the wearable device and then transmitted to an information gateway such as a mobile phone or tablet. For instance, health-related data can be used to implement interventions as needed according to the data provided. This useful technology integrated into wearable devices is anticipated to propel the market in the forecast period.

The North American and European regions are expected to witness significant growth in the wearable devices market during the forecasted period. These regions have served as the global center for all notable technological advancements. Also, innovation and advancement in wearable technologies are increasing in demand as smart devices become more commonplace and will be major market drivers in the region. Factors that contribute to the region's market growth include a rise in disposable income as well as the rapid uptake and appeal of improved devices coupled with the growth of the market is also aided by the strong presence of wearable vendors in the area, including Apple, Fitbit, and Garmin which in turn will propel the growth of the wearable devices market in the region.

The research includes several key players from the wearable devices market, such as Apple, Inc., Covidien (Medtronic Zephyr), Tex-Ray (Aiq Smart Clothing), Fitbit, Xiaomi, LG Electronics, Garmin Ltd., Essilor (Luxottica Group), Huawei Device Co., Ltd, and Fossil Group.

The market analytics report segments the wearable devices market using the following criteria:

• By Product:

o Watches
o Fabric
o Glasses
o Fitness Trackers
o Others

• By End User:

o Personal Users
o Enterprises

• By Connectivity Medium:

o ANT+
o Bluetooth
o Wi-Fi
o Cellular
o NFC

• By Technology:

o Computer Technology
o Display Technology
o Networking Technology
o Positioning Technology
o Sensor Technology

• By Geography:

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• UK
• Germany
• France
• Italy
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Companies Mentioned:

• Apple, Inc.
• Covidien (Medtronic Zephyr)
• Tex-Ray (Aiq Smart Clothing)
• Fitbit
• Xiaomi
• LG Electronics
• Garmin Ltd.
• Essilor (Luxottica Group)
• Huawei Device Co., Ltd
• Fossil Group

Explore More Reports:

• Wearable Sensors Market: https://www.knowledge-sourcing.com/report/wearable-sensors-market
• Wearable Camera Market: https://www.knowledge-sourcing.com/report/wearable-camera-market
• Wearable Display Market: https://www.knowledge-sourcing.com/report/wearable-display-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
email us here
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