Middle East & Africa Wearable Technology Market Size & Outlook
Middle East & Africa wearable technology market, 2018-2030 (US$M)
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MEA wearable technology market highlights
- The MEA wearable technology market generated a revenue of USD 4,634.4 million in 2023.
- The market is expected to grow at a CAGR of 14% 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.
MEA data book summary
| Market revenue in 2023 | USD 4,634.4 million |
| Market revenue in 2030 | USD 11,567.5 million |
| Growth rate | 14% (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, MEA region accounted for 6.4% 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 |
|---|
Middle East & Africa 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 50.19% in 2023. Horizon Databook has segmented the Middle East & Africa 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.
Increasing internet penetration in the Middle East and Africa region coupled with significant presence of tech-savvy individuals in the region is projected to provide growth opportunities for the manufacturers to enter the regional market. The adoption of wearable technology in South African houses is comparatively low than other countries.
However, with the technological advancements, the adoption of wearable devices in the country is expected to increase. According to the figures by UN, it is expected that the MENA population would increase to 654 million by 2050.
It is estimated that around 18 million people above age of 60 would live in GCC by 2050. The aged population then would require frequent health monitoring, thereby driving the need for wearable devices, supporting the market growth in the region.
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Our clientele includes a mix of wearable technology market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa wearable technology market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa wearable technology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa wearable technology market
Middle East & Africa Wearable Technology Market Outlook Share, 2023 & 2030 (US$M)
Middle East & Africa wearable technology market
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