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Wearables Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2023-2027

  • Published: Nov 2022
  • Pages: 176
  • SKU: IRTNTR43403
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The wearables market is estimated to grow at a CAGR of 15.09% between 2022 and 2027. The size of the market is forecast to increase by USD 73,631.84 million. The growth of the market depends on serval factors, including the preference for wearable electronic payment devices, the digitalization of the global economy, and sleek and small design which is highly operational and efficient which seems to be the biggest driving factor of growth of the market.

This report extensively covers market segmentation by product (smartwatches, wireless headphones, smart bands, and others), distribution channel (online and offline), and geography (North America, Apac, Europe, South America, and Middle East and Africa).  It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

 What will the Size of the Wearables Market be During the Forecast Period?

Wearables Market Size

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Parent Market Analysis

The reports categorize the wearables market as a part of the electronic equipment & instruments Industry. The parent global technology hardware, storage, and peripherals market covers manufacturers of cellular phones, personal computers, servers, electronic computer components, and peripherals. It also includes data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Wearables Market: Key Drivers, Trends, Challenges, and Customer Landscape

The growing preference for wearable devices for payment is notably driving the market growth, although factors such as the growing market for counterfeit products may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Wearables Market Driver 

The wide selection and usage of wearable devices for payment are contributing to major factors in driving the market growth. The market is witnessing an increased preference for wearable electronic devices for contactless payments. As a result, wearables electronic device manufacturers are integrating NFC technology as a standard into most of their devices. NFC (near-field communication) chips are integrated into wearable electronic devices such as smartwatches, smart bands, smart rings, and others to enable contactless payment using direct tap-and-pay via a POS (point of sale) terminal.

This process reduces the transaction time when compared with making payments using cash or card methods and eliminates the need to carry cash or cards. Even though the use of wearable electronic devices for contactless payment is still in the early stage of development, several vendors in different industries have started accepting payments through wearable devices.

Key Wearables Market Trend

The growing number of partnerships and M&A activities is the primary trend driving the market growth. The market is still in the development phase and the vendors in the market are forming strategic partnerships with market participants and acquiring other vendors that offer wearable technologies. These partnerships and M&A activities enable vendors to develop innovative products by leveraging the technology and technical expertise of the market participants. Such activities also result in the development of a wearable device ecosystem, which will fuel the adoption of wearable devices. For instance, vendors of AR smart glasses form strategic partnerships with AR technology providers and AR hardware manufacturers to remain competitive in the market.

Smartwatch and smart band consumers focus on the compatibility of wearable electronic devices with mobile computing devices, their ease of use, and their visual appeal while making a purchase decision. Therefore, vendors in the market are undertaking strategic collaborations with fashion designers, technology providers, software developers, and other industry participants to ensure that their offerings attract customers. The increasing number of partnerships and M&A activities among the market participants is expected to support the growth of the market in focus during the forecast period.

Key Wearables Market Challenge

The wide range of counterfeit products may impede market growth. One of the prominent factors that are hindering the growth of the market in focus is the growing market for counterfeit wearables electronic devices. The market is filled with fake copies of all the prominent products from major vendors such as Apple, SAMSUNG ELECTRONICS, Fitbit, and Xiaomi. Most of these counterfeit products are manufactured in APAC, owing to the presence of low-cost labor and other counterfeit product markets. Furthermore, these products are available at significantly lower prices than the original ones, which reduces the sale of original devices, leading to a significant fall in the overall market revenue. From the consumers' perspective, the sale of these counterfeit products is a threat to their privacy and security. Many of these products are used by customers as a payment method as well as for monitoring health and vital parameters.

Many times, customers do not realize that these products do not have the same security standard as the original ones, which poses a threat to the data privacy and security of customers. Hence, the growth of the counterfeit wearable electronic devices market reduces sales, as well as the reliability and brand value of the original products, which is expected to limit the growth of the market during the forecast period.

Key Wearables Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Wearables Market Share by Geography

Global Wearables Market Customer Landscape

 

Who are the Major Wearables Market Vendors?                                     

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Gopro.com - The company offers wearables such as hero10 and hero11. Also, the company offers cameras and accessories through a single reporting segment. 

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • Acer Inc.
  • Alphabet Inc.
  • Apple Inc.
  • ASUSTeK Computer Inc.
  • CINOPTICS
  • Citizen Watch Co. Ltd.
  • Fossil Group Inc.
  • Garmin Ltd.
  • GoPro Inc.
  • Huawei Technologies Co. Ltd.
  • Kopin Corp.
  • Lenovo Group Ltd.
  • LG Electronics Inc.
  • Microsoft Corp.
  • Nexxbase Marketing Pvt. Ltd.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What are the Fastest-Growing Segments in the Wearables Market?

The market share growth by the smartwatch segment will be significant during the forecast period. A smartwatch is a computerized watch that offers numerous functionalities, including making calls and messaging and health monitoring by tracking the number of steps taken, calories burned, and heart rate, among others. It also provides wearers with quick access to several apps on their smartphones. The smartwatches segment accounts for a major share of the market in focus. One of the major factors driving the demand for smartwatches is the growing number of partnerships between market vendors and market participants from various industries. Collaborations and partnerships with market participants allow vendors to upgrade their products with innovative features and advanced technologies and leverage their technical expertise to develop innovative products and capture more market share.

Wearables Market Size

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The smartwatches segment showed a gradual increase in market share from USD 15,330.40 million in 2017 and continued to grow by 2021. The strategic partnerships and collaborations among market participants are opening up new areas for the potential use of smartwatches, which is expected to drive the demand for smartwatches during the forecast period. Another major reason for the growth of smartwatches is the proliferation of low-cost smartwatch manufacturers. In recent years, several smartwatch manufacturers have rolled out new or updated versions of their smartwatches and are offering products at a much lower price than Apple and Samsung Electronics.

Which are the Key Regions for the Wearables Market?

Wearables Market Share by Geography

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We have covered key regions such as North America, APAC, Europe, South America, and the Middle East and Africa that will experience significant growth during the forecast period. North America is projected to contribute 41% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The region is witnessing high investments in the deployment of the 5G network infrastructure to support the increasing mobile data traffic. The presence of a well-developed communication network infrastructure in the region is driving the adoption and usage of mobile computing devices in the region. End-users, including consumers and enterprises, are always keen on trying out new technologies. Several projects related to smart glasses and HMDs are lined up, and there is a huge demand for AR technology in the US.

North America is one of the earliest adopters of AR, and there are several apps being developed for iOS and Android. The smartwatch market in the region is primarily driven by the growing ecosystem of connected devices, which increases consumer dependency on such devices. In addition to this, with growing consumer concerns over the increased prevalence of heart disease and obesity issues, the adoption of these wearable devices is rising.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by product, distribution channel, and region.

  • Product Outlook (USD Million, 2017 - 2027)
    • Smartwatches
    • Wireless headphones
    • HMDs
    • Smart bands
    • Others 
  • Distribution Outlook (USD Million, 2017 - 2027)
    • Online
    • Offline
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America 
      • Brazil
      • Argentina
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Wearables Market Scope

Report Coverage

Details

Page number

176

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 15.09%

Market growth 2023-2027

USD 73,631.84 million

Market structure

Fragmented

YoY growth (%)

13.74

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 41%

Key countries

US, Canada, China, Japan, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Acer Inc., Alphabet Inc., Apple Inc., ASUSTeK Computer Inc., CINOPTICS, Citizen Watch Co. Ltd., Fossil Group Inc., Garmin Ltd., GoPro Inc., Huawei Technologies Co. Ltd., Kopin Corp., Lenovo Group Ltd., LG Electronics Inc., Microsoft Corp., Nexxbase Marketing Pvt. Ltd., Omate Inc., Samsung Electronics Co. Ltd., Seiko Epson Corp., and Sony Group Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and 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.

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What are the Key Data Covered in this Wearables Market Report?

  • CAGR of the market during the forecast period.
  • Detailed information on factors that will drive the growth of the market between 2023 and 2027
  • Precise estimation of the size of the market size and its contribution to the market in focus on the parent market.
  • Accurate predictions about upcoming trends and changes in consumer behavior.
  • Growth of the market industry across North America, APAC, Europe, South America, and Middle East and Africa.
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors.
  • Comprehensive analysis of details factors that will challenge the growth of market vendors.

 

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global wearables market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global wearables market 2017 - 2021 ($ million)
    • 4.2 Product Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)
    • 4.3 Distribution Channel Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 30: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
    • 6.2 Comparison by Product
      • Exhibit 32: Chart on Comparison by Product
      • Exhibit 33: Data Table on Comparison by Product
    • 6.3 Smartwatches - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Smartwatches - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Smartwatches - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Smartwatches - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Smartwatches - Year-over-year growth 2022-2027 (%)
    • 6.4 Wireless headphones - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Wireless headphones - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Wireless headphones - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Wireless headphones - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Wireless headphones - Year-over-year growth 2022-2027 (%)
    • 6.5 HMDs - Market size and forecast 2022-2027
      • Exhibit 42: Chart on HMDs - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Data Table on HMDs - Market size and forecast 2022-2027 ($ million)
      • Exhibit 44: Chart on HMDs - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on HMDs - Year-over-year growth 2022-2027 (%)
    • 6.6 Smart bands - Market size and forecast 2022-2027
      • Exhibit 46: Chart on Smart bands - Market size and forecast 2022-2027 ($ million)
      • Exhibit 47: Data Table on Smart bands - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Chart on Smart bands - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on Smart bands - Year-over-year growth 2022-2027 (%)
    • 6.7 Others - Market size and forecast 2022-2027
      • Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 6.8 Market opportunity by Product
      • Exhibit 54: Market opportunity by Product ($ million)

    7 Market Segmentation by Distribution Channel

    • 7.1 Market segments
      • Exhibit 55: Chart on Distribution Channel - Market share 2022-2027 (%)
      • Exhibit 56: Data Table on Distribution Channel - Market share 2022-2027 (%)
    • 7.2 Comparison by Distribution Channel
      • Exhibit 57: Chart on Comparison by Distribution Channel
      • Exhibit 58: Data Table on Comparison by Distribution Channel
    • 7.3 Online - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Online - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Data Table on Online - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Chart on Online - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Online - Year-over-year growth 2022-2027 (%)
    • 7.4 Offline - Market size and forecast 2022-2027
      • Exhibit 63: Chart on Offline - Market size and forecast 2022-2027 ($ million)
      • Exhibit 64: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
      • Exhibit 65: Chart on Offline - Year-over-year growth 2022-2027 (%)
      • Exhibit 66: Data Table on Offline - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Distribution Channel
      • Exhibit 67: Market opportunity by Distribution Channel ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 69: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 71: Chart on Geographic comparison
      • Exhibit 72: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 APAC - Market size and forecast 2022-2027
      • Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.5 Europe - Market size and forecast 2022-2027
      • Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 China - Market size and forecast 2022-2027
      • Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.10 Japan - Market size and forecast 2022-2027
      • Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.11 Canada - Market size and forecast 2022-2027
      • Exhibit 105: Chart on Canada - Market size and forecast 2022-2027 ($ million)
      • Exhibit 106: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
      • Exhibit 107: Chart on Canada - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on Canada - Year-over-year growth 2022-2027 (%)
    • 9.12 Germany - Market size and forecast 2022-2027
      • Exhibit 109: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 110: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 111: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 112: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 113: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 114: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 116: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 117: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 118: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 119: Matrix on vendor position and classification
            • 12.3 Acer Inc.
              • Exhibit 120: Acer Inc. - Overview
              • Exhibit 121: Acer Inc. - Business segments
              • Exhibit 122: Acer Inc. - Key news
              • Exhibit 123: Acer Inc. - Key offerings
              • Exhibit 124: Acer Inc. - Segment focus
            • 12.4 Alphabet Inc.
              • Exhibit 125: Alphabet Inc. - Overview
              • Exhibit 126: Alphabet Inc. - Business segments
              • Exhibit 127: Alphabet Inc. - Key news
              • Exhibit 128: Alphabet Inc. - Key offerings
              • Exhibit 129: Alphabet Inc. - Segment focus
            • 12.5 Apple Inc.
              • Exhibit 130: Apple Inc. - Overview
              • Exhibit 131: Apple Inc. - Business segments
              • Exhibit 132: Apple Inc. - Key news
              • Exhibit 133: Apple Inc. - Key offerings
              • Exhibit 134: Apple Inc. - Segment focus
            • 12.6 ASUSTeK Computer Inc.
              • Exhibit 135: ASUSTeK Computer Inc. - Overview
              • Exhibit 136: ASUSTeK Computer Inc. - Product / Service
              • Exhibit 137: ASUSTeK Computer Inc. - Key news
              • Exhibit 138: ASUSTeK Computer Inc. - Key offerings
            • 12.7 CINOPTICS
              • Exhibit 139: CINOPTICS - Overview
              • Exhibit 140: CINOPTICS - Product / Service
              • Exhibit 141: CINOPTICS - Key offerings
            • 12.8 Citizen Watch Co. Ltd.
              • Exhibit 142: Citizen Watch Co. Ltd. - Overview
              • Exhibit 143: Citizen Watch Co. Ltd. - Business segments
              • Exhibit 144: Citizen Watch Co. Ltd. - Key offerings
              • Exhibit 145: Citizen Watch Co. Ltd. - Segment focus
            • 12.9 Garmin Ltd.
              • Exhibit 146: Garmin Ltd. - Overview
              • Exhibit 147: Garmin Ltd. - Business segments
              • Exhibit 148: Garmin Ltd. - Key offerings
              • Exhibit 149: Garmin Ltd. - Segment focus
            • 12.10 GoPro Inc.
              • Exhibit 150: GoPro Inc. - Overview
              • Exhibit 151: GoPro Inc. - Product / Service
              • Exhibit 152: GoPro Inc. - Key offerings
            • 12.11 Huawei Technologies Co. Ltd.
              • Exhibit 153: Huawei Technologies Co. Ltd. - Overview
              • Exhibit 154: Huawei Technologies Co. Ltd. - Business segments
              • Exhibit 155: Huawei Technologies Co. Ltd. - Key offerings
              • Exhibit 156: Huawei Technologies Co. Ltd. - Segment focus
            • 12.12 Kopin Corp.
              • Exhibit 157: Kopin Corp. - Overview
              • Exhibit 158: Kopin Corp. - Business segments
              • Exhibit 159: Kopin Corp. - Key offerings
              • Exhibit 160: Kopin Corp. - Segment focus
            • 12.13 Lenovo Group Ltd.
              • Exhibit 161: Lenovo Group Ltd. - Overview
              • Exhibit 162: Lenovo Group Ltd. - Business segments
              • Exhibit 163: Lenovo Group Ltd. - Key offerings
              • Exhibit 164: Lenovo Group Ltd. - Segment focus
            • 12.14 LG Electronics Inc.
              • Exhibit 165: LG Electronics Inc. - Overview
              • Exhibit 166: LG Electronics Inc. - Business segments
              • Exhibit 167: LG Electronics Inc. - Key news
              • Exhibit 168: LG Electronics Inc. - Key offerings
              • Exhibit 169: LG Electronics Inc. - Segment focus
            • 12.15 Microsoft Corp.
              • Exhibit 170: Microsoft Corp. - Overview
              • Exhibit 171: Microsoft Corp. - Business segments
              • Exhibit 172: Microsoft Corp. - Key news
              • Exhibit 173: Microsoft Corp. - Key offerings
              • Exhibit 174: Microsoft Corp. - Segment focus
            • 12.16 Omate Inc.
              • Exhibit 175: Omate Inc. - Overview
              • Exhibit 176: Omate Inc. - Product / Service
              • Exhibit 177: Omate Inc. - Key offerings
            • 12.17 Samsung Electronics Co. Ltd.
              • Exhibit 178: Samsung Electronics Co. Ltd. - Overview
              • Exhibit 179: Samsung Electronics Co. Ltd. - Business segments
              • Exhibit 180: Samsung Electronics Co. Ltd. - Key news
              • Exhibit 181: Samsung Electronics Co. Ltd. - Key offerings
              • Exhibit 182: Samsung Electronics Co. Ltd. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 183: Inclusions checklist
                • Exhibit 184: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 185: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 186: Research methodology
                • Exhibit 187: Validation techniques employed for market sizing
                • Exhibit 188: Information sources
              • 13.5 List of abbreviations
                • Exhibit 189: List of abbreviations
              • demand for infrastructure-as-a-service (IaaS): The ongoing migration from on-premise infrastructure to cloud-based services is having an impact on the revenues of original equipment manufacturers (OEMs) of servers, albeit the adverse impact on them is slightly milder than the effect on storage equipment. The emergence of IaaS has had a strong impact on the IT hardware market. The biggest advantage of IaaS is that it allows enterprises to scale operations or introduce innovations in the workflow without the need to make substantial investments in storage and servers for the traditional on-premise hardware environment. At the same time, cloud-focused infrastructure spending is expected to increase in terms of server, disk storage, and networking hardware.

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
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                Wearables market growth will increase by $73631.84 million during 2023-2027.
                The wearables market is expected to grow at a CAGR of 15.09% during 2023-2027.
                Technavio has segmented the wearables market by product (Smartwatches, Wireless headphones, HMDs, Smart bands, and Others) ,distribution channel (Online, Offline, Europe, South America, and MEA) , and geography (North America, APAC, Europe, South America, and Middle East and Africa).
                Acer Inc., Alphabet Inc., Apple Inc., ASUSTeK Computer Inc., CINOPTICS, Citizen Watch Co. Ltd., Fossil Group Inc., Garmin Ltd., GoPro Inc., Huawei Technologies Co. Ltd., Kopin Corp., Lenovo Group Ltd., LG Electronics Inc., Microsoft Corp., Nexxbase Marketing Pvt. Ltd., Omate Inc., Samsung Electronics Co. Ltd., Seiko Epson Corp., Sony Group Corp. are a few of the key vendors in the wearables market.
                North America will register the highest growth rate of 41.1% among the other regions. Therefore, the wearables market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
                • US
                • Canada
                • China
                • Japan
                • Germany
                The key factors driving the wearables market growth are:
                • Growing preference for wearables devices for payment
                • Focus on the development of low-power electronics
                The wearables market vendors should focus on grabbing business opportunities from the smartwatches segment as it accounted for the largest market share in the base year.
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