Wearable Electronics Market 2020-2024: Drivers and Challenges
The rising digitization of the global economy will be one of the crucial drivers impacting the market positively during the forecast period. In addition, growing preference for wearable electronic devices for payment and surging development of miniaturized electronic components are some other drivers likely to influence the market growth during the forecast period. However, the growing market for counterfeit products, increasing concerns over data security and privacy, unappealing designs are some of the key factors likely to impede the market growth during the forecast period.
Wearable Electronics Market 2020-2024: Scope
The report also covers the following areas:
Wearable Electronics Market 2020-2024: Segmentation
- Product
- Smartwatches
- Wireless Headphones
- HMDs
- Smart Bands
- Others
- Geography
- North America
- APAC
- Europe
- South America
- MEA
The smartwatches product segment led the market share in 2019 and will continue to maintain its dominance during the forecast period. In terms of geography, 56% of the growth will originate from North America with the US and Canada emerging as the key revenue-generating economies in the region. The growth in this region can be attributed to the growing focus on the development of low-powered electronics during the forecast period.
Learn more about the factors assisting the growth of each market segment, Download a FREE sample
Wearable Electronics Market 2020-2024: Vendor Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Acer Inc., Apple Inc., ASUSTeK Computer Inc., Huawei Investment & Holding Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Sony Corp., and Xiaomi Group are some of the major market participants. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the wearable electronics market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
Get lifetime access to our Technavio Insights. Subscribe now to our most popular "Lite Plan" billed annually at USD 3000. View 3 reports monthly and Download 3 Reports Annually!
Wearable Electronics Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist wearable electronics market growth during the next five years
- Estimation of the wearable electronics market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the wearable electronics market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of wearable electronics market vendors
Related Reports:
Wireless Headphones Market by Type and Geography - Forecast and Analysis 2020-2024
Smartwatch Market by Type, Operating System, and Geography - Forecast and Analysis 2020-2024
Wearable Electronics Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15% |
Market growth 2020-2024 |
USD 41.24 billion |
Market structure |
Fragmented |
YoY growth (%) |
14.99 |
Regional analysis |
North America, APAC, Europe, South America, and MEA |
Performing market contribution |
North America at 56% |
Key consumer countries |
US, Japan, Canada, China, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Acer Inc., Apple Inc., ASUSTeK Computer Inc., Huawei Investment & Holding Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Sony Corp., and Xiaomi Group |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
Share this article