Wearable Computing Devices Market Analysis 2023-2028: Industry Size, Share, Trends and Forecast

IMARC Group’s report titled “Wearable Computing Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global wearable computing devices market size reached US$ 54.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 162.6 Billion by 2028, exhibiting a growth rate (CAGR) of 17.3% during 2023-2028.

Wearable computing devices are specialized digital devices that are strapped to the body of the users. They comprise sensors and connectivity technology, which assists in monitoring various parameters, such as temperature, movement, and pulse. They also consist of a display that enables the users to read the data recorded by the sensors. They are equipped with speech recognition features to identify the words or phrases spoken by the user and function accordingly. They are available in numerous forms, including smartwatches, which are worn to monitor health and keep track of various attributes, such as sleep cycles and burnt calories.

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Wearable Computing Devices Market Trends and Drivers:

At present, the increasing demand for wearable computing devices to experience constant, convenient, portable, and hands-free access to information and solutions is propelling the growth of the market. Besides this, the rising adoption of smartwatches by fitness enthusiasts, athletes, swimmers, runners, and gym goers to maintain a thorough workout routine, monitor heart rate, and track the number of daily steps is impelling the growth of the market. In addition, the growing emergence of smart contact lenses, smart fabrics, and smart glasses possessing enhanced functionalities is offering a favorable market outlook. Apart from this, the increasing utilization of wearable computing devices in the healthcare industry to establish communication between healthcare service providers, monitor patients, and maintain patient data is supporting the growth of the market.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Product Type:

• Smart Watches
• Head Mounted Displays
• Smart Clothing
• Ear Worn
• Fitness Trackers
• Body Worn Camera
• Exoskeleton
• Others

Breakup by Connectivity Type:

• Bluetooth
• Wi-Fi
• 4G/5G
• Others

Breakup by Application:

• Fitness and Wellness
• Medical and Healthcare
• Infotainment
• Industrial and Defense
• Others

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Competitive Landscape with Key Player:

• Apple Inc.
• Ekso Bionics Holdings Inc.
• Fossil Group Inc.
• Garmin Ltd.
• GoPro Inc.
• Huawei Technologies Co. Ltd.
• LG Electronics Inc.
• OMRON Corporation
• Samsung Electronics Co. Ltd.
• Sony Corporation and Transcend Information Inc.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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