Smart Wearable Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

A smart wearable is an electronic instrument used by the integration of advanced technologies into wearable products such as eyewear, footwear, neckwear, wrist wear, others. The boosting concern and demand for continuous monitoring of heartbeat, growing requirement for daily activity monitoring, as well as increasing awareness related to health awareness, are driving the smart wearable market in the forecast period.

MARKET SCOPE

The "Global Smart Wearable Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the smart wearable market with detailed market segmentation by product, technology, application, and geography. The report provides key statistics on the market status of the leading smart wearable market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on product, the global smart wearable market is segmented into smartwatch head-mounted display, ear worn, smart clothing, fitness tracker, and others.
  
•   On the basis of technology, the market is segmented into computing technology, display technology, and sensing technology.
  
•   Based on application, the market is segmented into fitness, gaming and recreational, industrial, military, and others.
  

MARKET DYNAMICS

Drivers:

•   The significant drivers of the smart wearable market are mounting popularity of internet of things and connected devices.
  
•   The rising adoption of wearables in multiple application areas is creating opportunities which will increase the demand for the smart wearable market in the forecast period. The market is likely to showcase opportunities for the untapped markets and growing awareness among the users.
  

Restraints:

•   High cost may hinder the growth of the smart wearable market.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart wearable market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart wearable market in these regions.

IMPACT OF COVID-19 ON SMART WEARABLE MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the smart wearable market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from smart wearable market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smart wearable market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Apple Inc.
  
•   Fitbit LLC.
  
•   Garmin Ltd.
  
•   Google
  
•   Huawei Technologies Co. Ltd.
  
•   NIKE, INC.
  
•   Sony Corporation
  
•   Samsung
  
•   Vuzix Corporation
  
•   Xiaomi.
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Smart Wearable Report Scope