Latin America Wearable Technology Market Size & Outlook
Latin America wearable technology market, 2018-2030 (US$M)
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Latin America wearable technology market highlights
- The Latin America wearable technology market generated a revenue of USD 3,947.1 million in 2023.
- The market is expected to grow at a CAGR of 7.7% from 2024 to 2030.
- In terms of segment, wrist-wear was the largest revenue generating product in 2023.
- Wrist-Wear is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 3,947.1 million |
| Market revenue in 2030 | USD 6,624.0 million |
| Growth rate | 7.7% (CAGR from 2023 to 2030) |
| Largest segment | Wrist-wear |
| Fastest growing segment | Wrist-Wear |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Wrist-Wear, Eyewear & Headwear, Footwear, Neckwear, Body-wear |
| Key market players worldwide | Alphabet Inc Class A, Samsung Electronics Co Ltd, Sony Group Corp, Huawei Technologies, Apple Inc, Xiaomi Corp Class B, Adidas AG, Nike Inc Class B, Fitbit, Garmin Ltd |
Other key industry trends
- In terms of revenue, Latin America region accounted for 5.5% of the global wearable technology market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 63,373.7 million by 2030.
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Wearable Technology Market Scope
Wearable Technology Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America wearable technology market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to wearable technology market will help companies and investors design strategic landscapes.
Wrist-wear was the largest segment with a revenue share of 47.32% in 2023. Horizon Databook has segmented the Latin America wearable technology market based on wrist-wear, eyewear & headwear, footwear, neckwear, body-wear covering the revenue growth of each sub-segment from 2018 to 2030.
Factors such as high urbanization rate, growth in new technological adoption and increasing health awareness among individuals are expected to drive the growth over forecast period. Factors driving industry growth include increasing purchasing power, rising population, knowledge of advanced technologies.
Growing presence of tech-savvy people in Brazil and Mexico is further expected to provide lucrative growth opportunity for wearable technology market in Latin America.
The wearable market countries such as Brazil and Mexico is becoming more structured, with higher adoption of smart devices as compared to basic gadgets such as fitness bands. However, the high prices of gadgets is an issue for the market growth.
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Our clientele includes a mix of wearable technology market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America wearable technology market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America wearable technology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America wearable technology market size, by country, 2018-2030 (US$M)
Latin America Wearable Technology Market Outlook Share, 2023 & 2030 (US$M)
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