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Wearable Technology Market by Product and Geography - Forecast and Analysis 2022-2026

  • Published: Jun 2022
  • Pages: 120
  • SKU: IRTNTR40925
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The wearable technology market share is expected to increase to USD 61.32 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 14.31%.

This wearable technology market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers wearable technology market segmentation by product (smartwatches, wireless headphones, HMDs, smart bands, and others) and geography (North America, APAC, Europe, South America, and Middle East and Africa). The wearable technology market report also offers information on several market vendors, including AiQ Smart Clothing Inc., Alphabet Inc., Apple Inc., ASUSTeK Computer Inc., BAE Systems Plc, CINOPTICS, Citizen Watch Co. Ltd., Fossil Group Inc., Garmin Ltd., Huawei Technologies Co. Ltd., K Wearables Ltd., Kopin Corp., Lenovo Group Ltd., LG Electronics Inc., Magic Leap Inc., Polar Electro Oy, Samsung Electronics Co. Ltd., Vuzix Corp., Xiaomi Inc., and Elbit Systems Ltd. among others.

What will the Wearable Technology Market Size be During the Forecast Period?

Wearable Technology Market Size

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Wearable Technology Market: Key Drivers, Trends, and Challenges

The popularity of wearable devices as a payment method is notably driving the wearable technology market growth, although factors such as rising penetration of counterfeit products may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the wearable technology industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Wearable Technology Market Driver

  • One of the key factors driving the global wearable technology industry growth is the popularity of wearable devices as a payment method.
  • Wearable device manufacturers are integrating NFC technology as a standard into most devices to enable contactless payment by a direct tap and pay via a POS terminal.
  • In January 2018, Mastercard announced an initiative in which it would try to achieve payment consistency by making tap-and-go standards in the next five years.
  • The growing adoption of contactless payment is increasing the number of partnerships among market participants to facilitate the use of wearable devices for payment.
  • In January 2019, Target Brands, Inc., which is one of the largest retailers in the US, announced that approximately 1,850 stores of the company in the country would start accepting contactless payment, including Apple Pay, Google Pay, and Samsung Pay, and contactless cards from Visa and Mastercard.
  • The growing preference for contactless payment through wearables devices will drive the growth of the market during the forecast period.

Key Wearable Technology Market Trend

  • Development of low-power electronics is one of the key wearable technology market trends that is expected to impact the industry positively in the forecast period.
  • The popularity and adoption of wearable devices, such as HMDs, are necessitating the need for high-performance and low-power-consumption electronics.
  • The addition of innovative features in upgraded products increases the use of these devices, which necessitates the requirement for high-performance and low-power-consumption electronic components, such as sensors, which are embedded in wearable electronics.
  • Vendors are adopting low-power-consumption components, from processors to new IMUs, which is helping them enhance the performance of their wearable electronics.
  • The optimization of the processors increases their battery life, making them reliable, which will further support the market growth in the coming years.

Key Wearable Technology Market Challenge

  • One of the key challenges to the global wearable technology industry growth is the rising penetration of counterfeit products.
  • The market is filled with counterfeits of all prominent products from major vendors, such as Apple, Samsung, Fitbit, and Xiaomi. The presence of low-cost labor and other counterfeit product markets support the manufacturing of these products in countries of APAC.
  • Smartwatches and smart bands are the most counterfeited products available in the market due to their appeal to local consumers compared with other wearable electronic devices.
  • The presence of these products in multiple distribution channels, such as retail stores, online stores, and social media platforms is making it difficult to control the sales of counterfeits.
  • The counterfeits are available at significantly lower prices than the original ones, which decreases the sale of original devices, leading to a significant fall in the overall market revenue.
  • The growth of the counterfeit market decreases the sales, reliability, and brand value of original products, which may hamper market growth during the forecast period.

This wearable technology market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global wearable technology market as a part of the global consumer electronics market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the wearable technology market during the forecast period.

Who are the Major Wearable Technology Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • AiQ Smart Clothing Inc.
  • Alphabet Inc.
  • Apple Inc.
  • ASUSTeK Computer Inc.
  • BAE Systems Plc
  • CINOPTICS
  • Citizen Watch Co. Ltd.
  • Fossil Group Inc.
  • Garmin Ltd.
  • Huawei Technologies Co. Ltd.
  • K Wearables Ltd.
  • Kopin Corp.
  • Lenovo Group Ltd.
  • LG Electronics Inc.
  • Magic Leap Inc.
  • Polar Electro Oy
  • Samsung Electronics Co. Ltd.
  • Vuzix Corp.
  • Xiaomi Inc.
  • Elbit Systems Ltd.

 

This statistical study of the wearable technology market encompasses successful business strategies deployed by the key vendors. The wearable technology market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market.

Product Insights and News

  • AiQ Smart Clothing Inc. - Through the BioMan plus segment, the company offers a variety of textile-based cables capable of carrying both analog and digital signals to support both intra-device and inter-device connectivity needs for use in Smart Clothing, Defense and First responder wear, Industrial, Medical and Consumer applications.
  • Alphabet Inc. - The company wearable technology devices such as offers Fitbit sense, Fitbit Versa 3, Fitbit charge 5, Fitbit Luxe, and Fitbit inspire 2.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The wearable technology market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Wearable Technology Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the wearable technology market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Wearable Technology Market?

Wearable Technology Market Market segmentation by region

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40% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for wearable technology in North America. However, market growth in this region will be slower than the growth of the market in other regions.

The increasing adoption of new technologies by consumers and the presence of some largest crowdfunding platforms, such as Kickstarter and Indiegogo, which help start-ups raise funds for the development of innovative wearable products, will facilitate the wearable technology market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Wearable Technology Market?

Wearable Technology Market Segmentation

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The wearable technology market share growth by the smart watches segment will be significant during the forecast period. The increasing number of applications, such as contactless payment and access control, is leading to the high adoption of smartwatches. Strategic partnerships and collaborations among market participants are opening up new avenues for the potential use of smartwatches, which is expected to increase the demand for smartwatches in the forecast years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the wearable technology market size and actionable market insights on post COVID-19 impact on each segment.

 

Wearable Technology Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 14.31%

Market growth 2022-2026

$ 61.32 billion

Market structure

Fragmented

YoY growth (%)

12.11

Regional analysis

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

Performing market contribution

North America at 40%

Key consumer countries

US, Canada, China, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AiQ Smart Clothing Inc., Alphabet Inc., Apple Inc., ASUSTeK Computer Inc., BAE Systems Plc, CINOPTICS, Citizen Watch Co. Ltd., Fossil Group Inc., Garmin Ltd., Huawei Technologies Co. Ltd., K Wearables Ltd., Kopin Corp., Lenovo Group Ltd., LG Electronics Inc., Magic Leap Inc., Polar Electro Oy, Samsung Electronics Co. Ltd., Vuzix Corp., Xiaomi Inc., and Elbit Systems Ltd.

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, Market condition analysis for forecast period

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What are the Key Data Covered in this Wearable Technology Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive wearable technology market growth during the next five years
  • Precise estimation of the wearable technology market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the wearable technology 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 on vendors
  • Comprehensive details of factors that will challenge the growth of wearable technology 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 Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 24: Chart on Product - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
    • 5.2 Comparison by Product
      • Exhibit 26: Chart on Comparison by Product
      • Exhibit 27: Data Table on Comparison by Product
    • 5.3 Smart watches - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Smart watches - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Smart watches - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Smart watches - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Smart watches - Year-over-year growth 2021-2026 (%)
    • 5.4 Wireless headphones - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Wireless headphones - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Wireless headphones - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Wireless headphones - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Wireless headphones - Year-over-year growth 2021-2026 (%)
    • 5.5 HMDs - Market size and forecast 2021-2026
      • Exhibit 36: Chart on HMDs - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on HMDs - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on HMDs - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on HMDs - Year-over-year growth 2021-2026 (%)
    • 5.6 Smart bands - Market size and forecast 2021-2026
      • Exhibit 40: Chart on Smart bands - Market size and forecast 2021-2026 ($ million)
      • Exhibit 41: Data Table on Smart bands - Market size and forecast 2021-2026 ($ million)
      • Exhibit 42: Chart on Smart bands - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on Smart bands - Year-over-year growth 2021-2026 (%)
    • 5.7 Others - Market size and forecast 2021-2026
      • Exhibit 44: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 45: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 46: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 47: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.8 Market opportunity by Product
      • Exhibit 48: Market opportunity by Product ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 50: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 52: Chart on Geographic comparison
      • Exhibit 53: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 APAC - Market size and forecast 2021-2026
      • Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 Japan - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.11 Canada - Market size and forecast 2021-2026
      • Exhibit 86: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 87: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 88: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.12 Germany - Market size and forecast 2021-2026
      • Exhibit 90: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 91: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 92: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 93: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 94: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 95: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 96: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 97: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 98: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 99: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 100: Matrix on vendor position and classification
            • 10.3 Alphabet Inc.
              • Exhibit 101: Alphabet Inc. - Overview
              • Exhibit 102: Alphabet Inc. - Business segments
              • Exhibit 103: Alphabet Inc. - Key news
              • Exhibit 104: Alphabet Inc. - Key offerings
              • Exhibit 105: Alphabet Inc. - Segment focus
            • 10.4 Apple Inc.
              • Exhibit 106: Apple Inc. - Overview
              • Exhibit 107: Apple Inc. - Business segments
              • Exhibit 108: Apple Inc. - Key news
              • Exhibit 109: Apple Inc. - Key offerings
              • Exhibit 110: Apple Inc. - Segment focus
            • 10.5 Fossil Group Inc.
              • Exhibit 111: Fossil Group Inc. - Overview
              • Exhibit 112: Fossil Group Inc. - Business segments
              • Exhibit 113: Fossil Group Inc. - Key offerings
              • Exhibit 114: Fossil Group Inc. - Segment focus
            • 10.6 Garmin Ltd.
              • Exhibit 115: Garmin Ltd. - Overview
              • Exhibit 116: Garmin Ltd. - Business segments
              • Exhibit 117: Garmin Ltd. - Key offerings
              • Exhibit 118: Garmin Ltd. - Segment focus
            • 10.7 Huawei Technologies Co. Ltd.
              • Exhibit 119: Huawei Technologies Co. Ltd. - Overview
              • Exhibit 120: Huawei Technologies Co. Ltd. - Business segments
              • Exhibit 121: Huawei Technologies Co. Ltd. - Key offerings
              • Exhibit 122: Huawei Technologies Co. Ltd. - Segment focus
            • 10.8 LG Electronics Inc.
              • Exhibit 123: LG Electronics Inc. - Overview
              • Exhibit 124: LG Electronics Inc. - Business segments
              • Exhibit 125: LG Electronics Inc. - Key news
              • Exhibit 126: LG Electronics Inc. - Key offerings
              • Exhibit 127: LG Electronics Inc. - Segment focus
            • 10.9 Polar Electro Oy
              • Exhibit 128: Polar Electro Oy - Overview
              • Exhibit 129: Polar Electro Oy - Product / Service
              • Exhibit 130: Polar Electro Oy - Key offerings
            • 10.10 Samsung Electronics Co. Ltd.
              • Exhibit 131: Samsung Electronics Co. Ltd. - Overview
              • Exhibit 132: Samsung Electronics Co. Ltd. - Business segments
              • Exhibit 133: Samsung Electronics Co. Ltd. - Key news
              • Exhibit 134: Samsung Electronics Co. Ltd. - Key offerings
              • Exhibit 135: Samsung Electronics Co. Ltd. - Segment focus
            • 10.11 Vuzix Corp.
              • Exhibit 136: Vuzix Corp. - Overview
              • Exhibit 137: Vuzix Corp. - Product / Service
              • Exhibit 138: Vuzix Corp. - Key offerings
            • 10.12 Xiaomi Inc.
              • Exhibit 139: Xiaomi Inc. - Overview
              • Exhibit 140: Xiaomi Inc. - Business segments
              • Exhibit 141: Xiaomi Inc. - Key news
              • Exhibit 142: Xiaomi Inc. - Key offerings
              • Exhibit 143: Xiaomi Inc. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 144: Inclusions checklist
                • Exhibit 145: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 146: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 147: Research methodology
                • Exhibit 148: Validation techniques employed for market sizing
                • Exhibit 149: Information sources
              • 11.5 List of abbreviations
                • Exhibit 150: List of abbreviations

              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
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Wearable Technology Market market growth will increase by $61.32 billion during 2022-2026.
              The wearable technology market market is expected to grow at a CAGR of 14.31% during 2022-2026.
              Technavio has segmented the wearable technology market market by product (Smart watches, Wireless headphones, HMDs, Smart bands, and Others) and geography (North America, APAC, Europe, South America, and Middle East and Africa).
              AiQ Smart Clothing Inc., Alphabet Inc., Apple Inc., ASUSTeK Computer Inc., BAE Systems Plc, CINOPTICS, Citizen Watch Co. Ltd., Fossil Group Inc., Garmin Ltd., Huawei Technologies Co. Ltd., K Wearables Ltd., Kopin Corp., Lenovo Group Ltd., LG Electronics Inc., Magic Leap Inc., Polar Electro Oy, Samsung Electronics Co. Ltd., Vuzix Corp., Xiaomi Inc., Elbit Systems Ltd. are a few of the key vendors in the wearable technology market market.
              North America will register the highest growth rate of 40% among the other regions. Therefore, the wearable technology market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the wearable technology market market growth are:
              • Popularity of wearable devices as a payment method
              • Development of low-power electronics
              The wearable technology market market vendors should focus on grabbing business opportunities from the smart watches segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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