Wearable computing is the technology ingrained in wearable accessories such as a wristband, watch to work as miniature electronic gadgets and facilitate ease in accessing technology. It is widely used for healthcare and media purpose. More than fashionable accessories, these devices are gaining popularity owing to smart and advanced features such as easy high portability and easy synchronization.
MARKET SCOPE
The "Global Wearable Computing Market Analysis to 2028" 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 wearable computing market with detailed market segmentation by technology, product, industry vertical, and geography. The report provides key statistics on the market status of the leading wearable computing market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on technology, the global wearable computing market is segmented into technology computing technologies, display technologies, networking technologies, and other.
- On the basis of product, the market is segmented into smart clothing, smart watches and bands, smart glasses, and others.
- Based on industry vertical, the market is segmented into defense and security, home automation, medical and healthcare, enterprise and industrial, fitness and wellness, media and entertainment, and other.
MARKET DYNAMICS
Drivers:
- Increasing adoption of wearable gadgets such as smart watch, smart clothing, wearable camera, and activity monitoring device with advanced features such as lightweight, data monitoring, and enhanced portability are the factors driving the growth for the global wearable computing market.
- Increasing inclination towards smart wearable gadgets provides ample of lucrative opportunity for the global wearable computing market.
Restraints
- High cost and less battery backup is curbing the extension for the wearable computing 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 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The wearable computing 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 wearable computing market in these regions.
IMPACT OF COVID-19 ON WEARABLE COMPUTING 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 wearable computing 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 payers from wearable computing 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 wearable computing 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.
- Adidas AG
- Apple Inc.
- Boston Scientific Corporation
- Fitbit Inc.
- Garmin Ltd.
- LG Electronics Inc. (LG Corporation)
- Nike Inc.
- Samsung
- Sony Corporation
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.