On the basis of device, the fitness segment held the highest market share in 2020, accounting for more than two-fifths of the global wearable technology market.

WILMINGTON, DELAWARE , UNITED STATES, August 27, 2024 /EINPresswire.com/ -- The growth of the global wearable technology market is driven by the entry of large players, portable and convenient usage, surge in healthcare awareness, and technological advancements. According to the report, the global wearable technology industry was valued at $54.8 billion in 2020, and is registered to reach $184.4 billion by 2031, growing at a CAGR of 12.8% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐓𝐡𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐎𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/355

𝐓𝐡𝐞 𝐟𝐢𝐭𝐧𝐞𝐬𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝
On the basis of device, the fitness segment held the highest market share in 2020, accounting for more than two-fifths of the global wearable technology market, and is estimated to maintain its leadership status throughout the forecast period, owing to its wide usage for monitoring the overall health and fitness. However, the smart watches segment is projected to portray the highest CAGR of 14.1% from 2022 to 2031, due to various benefits over traditional watches which enables the user to place calls and text messages.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 2030
Region-wise, North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global wearable technology market. This is attributed to rise in applications of wearable technology in medical & healthcare areas, lifestyle and defense sector in the North American region. However, the Asia-Pacific region is projected to grow with the fastest CAGR of 14.1% from 2022 to 2031. This is owing to various wearable technologies and rise in the demand for electronic devices for fitness & health improvement.

𝐓𝐡𝐞 𝐰𝐫𝐢𝐬𝐭 𝐰𝐞𝐚𝐫 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝
On the basis of product type, the wrist wear segment accounted for the largest share in 2020, contributing to nearly three-fourths of the global wearable technology market, and is expected to maintain its lead position during the forecast period. Various industry giants such as Apple, Pebble, and Motorola are launching products with the latest features and advancement in user interface (UI), which drives the market. Moreover, the body wear segment is anticipated to manifest the largest CAGR of 14.4% from 2022 to 2031, due to an array of advantages and convenient usage of smart clothing.

𝐃𝐨 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 https://www.alliedmarketresearch.com/purchase-enquiry/355

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -
Nike Inc.
Garmin Ltd.
Adidas AG.
LG Electronics Inc.
Motorola Solutions Inc
Apple Inc.
Fitbit, Inc.
Samsung Electronics Co., Ltd.
Sony Corporation
Huawei Technologies Co., Ltd.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐆𝐨𝐨𝐝𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
𝐁𝐁 𝐂𝐫𝐞𝐚𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/bb-cream-market-A06774
𝐖𝐫𝐢𝐭𝐢𝐧𝐠 𝐢𝐧𝐬𝐭𝐫𝐮𝐦𝐞𝐧𝐭𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/writting-instruments-market-A10846

David Correa
Allied Market Research
+1 800-792-5285
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