Global Wearable Technology Market Size, Share, Growth Analysis, By Type(Smart Textile, Non-Textile), By Product(Wristwear, Headwear), By Application(Wristwear, Headwear)

Description

Global Wearable Technology Market size was valued at USD 121.7 billion in 2021 and is poised to grow from USD 138.7 billion in 2022 to USD 392.4 billion by 2030, growing at a CAGR of 13.89% in the forecast period (2023-2030).

The global wearable technology market is experiencing significant growth due to increasing consumer adoption and technological advancements. Wearable devices, such as smartwatches, fitness trackers, and augmented reality glasses, offer various functionalities and are increasingly integrated into daily life. The market is driven by factors like the growing popularity of fitness and health tracking, advancements in sensor technologies, and rising disposable incomes. Additionally, the expanding application areas of wearables in industries like healthcare, sports, and fashion are further propelling market growth.

Top-down and bottom-up approaches were used to estimate and validate the size of Wearable Technology and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

The global Wearable Technology market is segmented based on type, product, application, and region. By type, the market is segmented into Smart Textile, Non-Textile. By product, the market is segmented into Wristwear, Headwear, Footwear, Fashion & Jewellery, Bodywear. By application, the market is segmented into Consumer Electronics, Healthcare, Enterprise & Industrial. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Driver

Wearable electronic devices are poised to become mainstream in personal computing. The consumer preference for sleek and compact wearables is expected to be the primary driver for the wearable technology market. Smartwatches and wristbands, in particular, are gaining popularity among consumers worldwide, especially in the fields of fitness and healthcare.

Restrain

A significant limitation in the wearable technology market is the lack of efficient and reliable battery systems that do not compromise the usability and compactness of the devices. Managing power consumption, power requirements, and battery recharging is a major challenge that needs to be addressed. The ability to efficiently manage power consumption while maintaining cost-effectiveness is expected to have a restraining impact on the market.

Trend

North America has established itself as a hub for technological advancements, and the demand for powerful and sophisticated wearable technologies is growing with the rise of smart gadgets. Factors such as increased disposable income, rapid adoption of enhanced devices, and the presence of prominent wearable vendors like Apple, Fitbit, and Garmin contribute to the growth of the market in this region.

Product Code: SQMIG25E2035

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Wearable Technology Market by Type

Market Overview
Smart Textile
Non-Textile

Global Wearable Technology Market by Product

Market Overview
Wristwear
Headwear
Footwear
Fashion & Jewellery
Bodywear

Global Wearable Technology Market by Application

Market Overview
Wristwear
Headwear
Footwear
Fashion & Jewellery
Bodywear

Global Wearable Technology Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Apple Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Samsung Electronics Co. Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Fitbit Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Xiaomi Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Garmin Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Huawei Technologies Co. Ltd.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Fossil Group, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Alphabet Inc. (Google)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sony Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Misfit, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Jawbone Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Polar Electro Oy
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Lenovo Group Limited
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
LG Electronics Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
TomTom N.V.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Microsoft Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Withings
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
ASUSTeK Computer Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Adidas AG
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Nike, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
In January 2022, Oura launched 3rd generation ring. This new hardware is a technological wonder, containing several functionalities that most wrist-worn gadgets take for granted. However, to keep the income flowing, Oura, like Fitbit, Apple, Wahoo, and others, has shifted to a recurring-revenue model. According to Oura, this is critical in shifting from the concept of purchasing a gadget that never changes to supporting its larger ambitions of developing a growing fitness ecosystem.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Wearable Technology Market Size, Share, Growth Analysis, By Type(Smart Textile, Non-Textile), By Product(Wristwear, Headwear), By Application(Wristwear, Headwear) - Industry Forecast 2023-2030