World Market for Wearable Devices, Set to Reach $62.82 Billion by 2025 - Increasing Penetration of IoT & Related Devices Drives Market Growth

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Dec 13, 2019, 11:15 ET

DUBLIN, Dec. 13, 2019 /PRNewswire/ -- The "Wearable Devices Market by Product Type (Smartwatch, Earwear, Eyewear, and others), End-Use Industry (Consumer Electronics, Healthcare, Enterprise and Industrial, Media and Entertainment), Connectivity Medium, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global wearable devices market is expected to grow at a CAGR of 11.3% from 2019 to 2025 to reach $62.82 billion by 2025.

The growth in the wearable devices market is fuelled by several factors such as growing consumer preference for connected devices and the increasing population of IoT and related devices. Technological growth of the consumer electronics industry is further complementing the overall growth of wearable devices market. However, concerns of data privacy and security and lack of sufficient internet and associated infrastructure in developing and underdeveloped countries are the major restraining factors hindering the market growth.

Based on product type, the overall wearable devices market is segmented into smartwatch, ear wear, eyewear, and others. Smartwatches segment is estimated to command the largest share of the overall wearable devices market and expected to witness high growth during the forecast period. Large share of this product segment is primarily attributed to the rapid technological upgradation in smartwatches by key players, growing consumer awareness pertaining to personal fitness and health, and increasing demand for wireless health monitoring devices.

On the basis of end-use industry, healthcare segment is estimated to command the largest share of the overall wearable devices market. The large share of this end use industry is mainly due to high penetration of fitness trackers among consumers and the use of activity monitors by medical industry to acquire physiological, behavioral, and contextual data for the diagnosis, treatment, and management of chronic diseases. With surge in availability of advanced devices for health and fitness monitoring and their growing adoption, the healthcare industry is expected to fuel the growth of the overall wearable devices market throughout the forecast period.

Based on connectivity medium, the overall wearable devices market is segmented into cellular, NFC, Bluetooth, Wi-Fi, and ANT+. Among these, Bluetooth technology is expected to witness the fastest growth rate during the next few years. The large share of this market is mainly attributed to the fact that Bluetooth connectivity is widely used in wearable devices as this technology is known as an easy to implement and low-cost option that requires very little power from wearable devices. From common everyday household items to health and wellness devices that are changing the face of healthcare, Bluetooth is the common thread across the most innovative wireless startups and solutions offered by them.

An in-depth analysis of the geographical scenario of the market provides detailed qualitative and quantitative insights about the five regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2019, North America region is estimated to command the largest share of the global wearable devices market followed by Europe and Asia Pacific. The large share in this region is mainly attributed to high consumer awareness and greater adoption of advanced wearable technologies in this region as compared to other geographic markets. Availability of developed internet infrastructure and presence of majority of established wearable devices market players and start-ups also supports the greater proliferation of wearable devices in North America.

The major players operating in the global wearable devices market are Apple Inc. (U.S.), Google LLC (U.S.), Microsoft Corporation (U.S.), Sony Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), Garmin Ltd. (U.S.), Huawei Technologies Co., Ltd (U.S.), Fitbit, Inc. (U.S.), LG Electronics (South Korea), among others.

Key Topics Covered

1. Introduction

2. Research Methodology

3. Executive Summary
3.1. Key Opportunities

4. Market Insights
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.1.1. Growing Adoption of Wearables across Multiple Application Areas
4.2.1.2. Growing Consumer Preference for Connected Devices
4.2.1.3. Increasing Penetration of IoT and Related Devices
4.2.2. Restraints
4.2.2.1. Lack of Data Privacy and Security
4.2.2.2. Lack of Internet and Associated Infrastructure in Underdeveloped Countries
4.2.3. Opportunities
4.2.3.1. Increasing Demand of Wearable Devices in Remote Patient Monitoring
4.2.4. Challenges
4.2.4.1. Initial High Cost and Limited Battery Life
4.2.5. Trends
4.2.5.1. Smart Textile and Electronic Clothing

5. Wearable Devices Market, by Product Type
5.1. Introduction
5.2. Smartwatch
5.3. Earwear
5.4. Clothing
5.5. Wristband
5.6. Other

6. Wearable Devices Market, by End-Use Industry
6.1. Consumer Electronics
6.2. Healthcare
6.3. Enterprise & Industrial
6.4. Media & Entertainment
6.5. Others

7. Wearable Devices Market, by Connectivity Medium
7.1. Introduction
7.2. Cellular
7.3. NFC
7.4. Bluetooth
7.5. Wi-Fi
7.6. Ant+

8. Global Wearables Device Market, by Geography
8.1. Introduction
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.3. Europe
8.3.1. Germany
8.3.2. U.K.
8.3.3. France
8.3.4. Italy
8.3.5. Spain
8.3.6. Rest of Europe
8.4. Asia-Pacific
8.4.1. Japan
8.4.2. India
8.4.3. China
8.4.4. Rest of APAC (Rest of APAC)
8.5. Latin America
8.6. Middle East & Africa

9. Competitive Landscape
9.1. New Product Launches
9.2. Mergers and Acquisitions
9.3. Partnerships, Agreements, and Collaborations

10. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
10.1. Garmin Ltd.
10.2. Fitbit Inc.
10.3. Huawei Technologies
10.4. Microsoft Corporation
10.5. Sony Corporation
10.6. Apple Inc.
10.7. Samsung
10.8. LG Electronics
10.9. Google LLC
10.10. Misfit Inc.

For more information about this report visit https://www.researchandmarkets.com/r/xf2w6w

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