Wearable Technology Market Size, Share & Trends Analysis Report By Product (Head & Eyewear, Wristwear), By Application (Consumer Electronics, Healthcare), By Region (Asia Pacific, Europe), And Segment Forecasts, 2023 - 2030

Market Segmentation

• Wearable Technology Product Outlook (Revenue, USD Million, 2018 - 2030)
  • Wrist-Wear
  • Eyewear & Headwear
  • Footwear
  • Neckwear
  • Body-wear
  • Others
• Wearable Technology Application Outlook (Revenue, USD Million, 2018 - 2030)
  • Consumer Electronics
  • Healthcare
  • Enterprise & Industrial Applications
  • Others
• Wearable Technology Regional Outlook (Revenue, USD Million, 2018 - 2030)
  • North America
    • North America Wearable Technology Market, By Product
      • Wrist-Wear
      • Eyewear & Headwear
      • Footwear
      • Neckwear
      • Body-wear
      • Others
    • North America Wearable Technology Market, By Application
      • Consumer Electronics
      • Healthcare
      • Enterprise & Industrial Application
      • Others
    • U.S.
      • U.S. Wearable Technology Market, By Product
        • Wrist-Wear
        • Eyewear & Headwear
        • Footwear
        • Neckwear
        • Body-wear
        • Others
      • U.S. Wearable Technology Market, By Application
        • Consumer Electronics
        • Healthcare
        • Enterprise & Industrial Application
        • Others
    • Canada
      • Canada Wearable Technology Market, By Product
        • Wrist-Wear
        • Eyewear & Headwear
        • Footwear
        • Neckwear
        • Body-wear
        • Others
      • Canada Wearable Technology Market, By Application
        • Consumer Electronics
        • Healthcare
        • Enterprise & Industrial Application
        • Others
  • Europe
    • Europe Wearable Technology Market, By Product
      • Wrist-Wear
      • Eyewear & Headwear
      • Footwear
      • Neckwear
      • Body-wear
      • Others
    • Europe Wearable Technology Market, By Application
      • Consumer Electronics
      • Healthcare
      • Enterprise & Industrial Application
      • Others
    • U.K.
      • U.K. Wearable Technology Market, By Product
        • Wrist-Wear
        • Eyewear & Headwear
        • Footwear
        • Neckwear
        • Body-wear
        • Others
      • U.K. Wearable Technology Market, By Application
        • Consumer Electronics
        • Healthcare
        • Enterprise & Industrial Application
        • Others
    • Germany
      • Germany Wearable Technology Market, By Product
        • Wrist-Wear
        • Eyewear & Headwear
        • Footwear
        • Neckwear
        • Body-wear
        • Others
      • Germany Wearable Technology Market, By Application
        • Consumer Electronics
        • Healthcare
        • Enterprise & Industrial Application
        • Others
    • France
      • France Wearable Technology Market, By Product
        • Wrist-Wear
        • Eyewear & Headwear
        • Footwear
        • Neckwear
        • Body-wear
        • Others
      • France Wearable Technology Market, By Application
        • Consumer Electronics
        • Healthcare
        • Enterprise & Industrial Application
        • Others
    • Rest of Europe
      • Rest of Europe Wearable Technology Market, By Product
        • Wrist-Wear
        • Eyewear & Headwear
        • Footwear
        • Neckwear
        • Body-wear
        • Others
      • Rest of Europe Wearable Technology Market, By Application
        • Consumer Electronics
        • Healthcare
        • Enterprise & Industrial Application
        • Others
  • Asia Pacific
    • Asia Pacific Wearable Technology Market, By Product
      • Wrist-Wear
      • Eyewear & Headwear
      • Footwear
      • Neckwear
      • Body-wear
      • Others
    • Asia Pacific Wearable Technology Market, By Application
      • Consumer Electronics
      • Healthcare
      • Enterprise & Industrial Application
      • Others
    • India
      • India Wearable Technology Market, By Product
        • Wrist-Wear
        • Eyewear & Headwear
        • Footwear
        • Neckwear
        • Body-wear
        • Others
      • India Wearable Technology Market, By Application
        • Consumer Electronics
        • Healthcare
        • Enterprise & Industrial Application
        • Others
    • China
      • China Wearable Technology Market, By Product
        • Wrist-Wear
        • Eyewear & Headwear
        • Footwear
        • Neckwear
        • Body-wear
        • Others
      • China Wearable Technology Market, By Application
        • Consumer Electronics
        • Healthcare
        • Enterprise & Industrial Application
        • Others
    • Japan
      • Japan Wearable Technology Market, By Product
        • Wrist-Wear
        • Eyewear & Headwear
        • Footwear
        • Neckwear
        • Body-wear
        • Others
      • Japan Wearable Technology Market, By Application
        • Consumer Electronics
        • Healthcare
        • Enterprise & Industrial Application
        • Others
    • Rest of Asia Pacific
      • Rest of Asia Pacific Wearable Technology Market, By Product
        • Wrist-Wear
        • Eyewear & Headwear
        • Footwear
        • Neckwear
        • Body-wear
        • Others
      • Rest of Asia Pacific Wearable Technology Market, By Application
        • Consumer Electronics
        • Healthcare
        • Enterprise & Industrial Application
        • Other
  • Latin America
    • Latin America Wearable Technology Market, By Product
      • Wrist-Wear
      • Eyewear & Headwear
      • Footwear
      • Neckwear
      • Body-wear
      • Others
    • Latin America Wearable Technology Market, By Application
      • Consumer Electronics
      • Healthcare
      • Enterprise & Industrial Application
      • Others
    • Brazil
      • Brazil Wearable Technology Market, By Product
        • Wrist-Wear
        • Eyewear & Headwear
        • Footwear
        • Neckwear
        • Body-wear
        • Others
      • Brazil Wearable Technology Market, By Application
        • Consumer Electronics
        • Healthcare
        • Enterprise & Industrial Application
        • Others
    • Mexico
      • Mexico Wearable Technology Market, By Product
        • Wrist-Wear
        • Eyewear & Headwear
        • Footwear
        • Neckwear
        • Body-wear
        • Others
      • Mexico Wearable Technology Market, By Application
        • Consumer Electronics
        • Healthcare
        • Enterprise & Industrial Application
        • Others
    • Rest of Latin America
      • Rest of Latin America Wearable Technology Market, By Product
        • Wrist-Wear
        • Eyewear & Headwear
        • Footwear
        • Neckwear
        • Body-wear
        • Others
      • Rest of Latin America Wearable Technology Market, By Application
        • Consumer Electronics
        • Healthcare
        • Enterprise & Industrial Application
        • Others
  • Middle East & Africa
    • Middle East & Africa Wearable Technology Market, By Product
      • Wrist-Wear
      • Eyewear & Headwear
      • Footwear
      • Neckwear
      • Body-wear
      • Others
    • Middle East & Africa Wearable Technology Market, By Application
      • Consumer Electronics
      • Healthcare
      • Enterprise & Industrial Application
      • Others

Wearable Technology Market Dynamics

Driver: Use of Wearable Devices for Fitness Tracking/Health Monitoring in Case of Chronic Diseases

Chronic disease and conditions are increasing globally, advancing across every region and pervading all socioeconomic classes. According to the World Health Organization (WHO), chronic disease incidence was expected to rise by 73% by 2020. Hypertension, diabetes, and cardiac disorder are a few major chronic diseases. Fitness tackers and smartwatches are equipped with heart rate monitors, oxygen level trackers which assists in tracking health parameters that can lead to these chronic diseases. For instance, Oneplus smartwatch is equipped with technology that helps in monitoring heart rate, provides medication reminders. Furthermore, with the advent of technology, the adoption of wearable devices is increasingly helping people monitor their health status. Nowadays, wearable technology has become an innovative solution for healthcare-related problems. Wearable technology is designed to prevent diseases and maintain health, such as physical activity monitoring and weight control. It helps in both activity/fitness tracking, and at a medical level, it provides data to doctors with potential for early diagnostic & guidance of treatment.

Driver: High Consumer Spending Power

With the popularization of smartphone use, wearable technology applications have converged with IoT, Artificial Intelligence, and smart sensing technologies. Wearable devices are widely used in various industries, including healthcare, gaming, and industrial operation. It is observed that consumer spending power has been increased over the years globally. According to the gross domestic product estimates, consumer spending, also known as personal consumption expenditure, increased by 2.3 % in the fourth quarter of 2020. Furthermore, industry players such as Xiaomi Corporation, Noise, Boat, among others also focus on offering smartwatches prices at a much affordable price which allows individuals to opt for it. The average selling price for Xiaomi’s smartwatches ranges in between USD 100-200. Similarly, Noise smartwatches ranges from USD 40 to USD 70. Affordable prices offered by these industrial players for wearable devices is anticipated to propel the adoption of wrist-wear, thereby supporting wearable technology market growth.

Restraint: High Cost of Manufacturing the Product

The high cost of manufacturing wearable technology products is one of the major factors hampering the growth of the wearable technology market. The initial cost of manufacturing wearable devices is very high as it involves the integration of technology, and hardware components. This is due to wearable technology being made up of various components such as sensors, light detectors, fingerprinting, and others that cost high. These wearable technologies require all these components to connect to smartphones and receive & send information to the end-users. Moreover, the producers spend a lot of money on research, software, shipping, licensing, marketing & promotion, apart from the development of wearable technology. The cost incurred is extensively high. The high manufacturing cost and fluctuations in raw materials prices also disrupt the wearable technology market growth rate.

What Does This Report Include?

This section will provide insights into the contents included in this wearable technology market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Wearable technology market qualitative analysis

• Industry overview

• Industry trends

• Market drivers and restraints

• Market size

• Growth prospects

• Porter’s analysis

• PESTEL analysis

• Key market opportunities prioritized

• Competitive landscape

  • Company overview

  • Financial performance

  • Product benchmarking

  • Latest strategic developments

Wearable technology market quantitative analysis

• Market size, estimates, and forecast from 2018 to 2030

• Market estimates and forecast for product segments up to 2030

• Regional market size and forecast for product segments up to 2030

• Market estimates and forecast for application segments up to 2030

• Regional market size and forecast for application segments up to 2030

• Company financial performance