Wearable Solar Devices Market Scope
A wearable solar device is powered by electricity generated by solar energy. This device can charge portable electronics as well as wearable devices such as mobile phones and fitness bands. The global wearable solar device market is expanding rapidly, owing to increased awareness of these devices and the growing influence of social media. The popularity of portable electronic devices has skyrocketed. Wearable solar devices can charge these devices while they are in use. Solar energy can be used in remote areas where the traditional power grid system does not exist.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | SPACELIS ( United States), Voltaicsystems ( United States), Tommy Hilfiger (Netherland), CASIO COMPUTER CO., LTD ( Japan), Fraunhofer-Gesellschaft ( Germany), EMMVEE ( Germany), ECEEN ( China), Misfit ( United States), SolarGoPack ( United States), BirkSun ( China), LuisVanita ( United States), Lumos ( United Kingdom), Fossil ( United States), Garmin ( United States) and Waaree Solar Pvt. Ltd. ( India) |
CAGR | % |
The global solar wearable device market is dominated by a major key player with a large market share. With new product launches and innovations, the market is rapidly expanding. The major corporations are concentrating their efforts to maintain their dominant position through mergers and acquisitions. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Wearable Solar Devices market throughout the predicted period.
SPACELIS ( United States), Voltaicsystems ( United States), Tommy Hilfiger (Netherland), CASIO COMPUTER CO., LTD ( Japan), Fraunhofer-Gesellschaft ( Germany), EMMVEE ( Germany), ECEEN ( China), Misfit ( United States), SolarGoPack ( United States), BirkSun ( China), LuisVanita ( United States), Lumos ( United Kingdom), Fossil ( United States), Garmin ( United States) and Waaree Solar Pvt. Ltd. ( India) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are EMMVEE, Loom Solar Pvt. Ltd., Icomm Tele Ltd. and Waaree Solar Pvt. Ltd..
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Wearable Solar Devices market by Type and Region with country level break-up.
On the basis of geography, the market of Wearable Solar Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2021.
Market Leaders and their expansionary development strategies
On December 14, 2021, Shell acquires solar and energy storage developer Savion expanding its global renewable power business. Shell New Energies US LLC, a subsidiary of Royal Dutch Shell plc (Shell), has acquired 100% of Savion LLC (Savion), a large utility-scale solar and energy storage developer in the United States, from Macquarie's Green Investment Group. Shell expects to significantly expand its global solar portfolio with this acquisition.
In April 2022, fossil introduced its new product, the solar watch FB-01. The team launched this solar watch to commemorate Earth Day. The watch is made of recycled ocean plastic., and In April 2018, a group of Japanese researchers created a super-thin organic solar cell that can be heat-printed onto clothing in the same way that a T-shirt design can.
Wearable Solar Devices Market Dynamics:
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Trends Influencing Market | - Increasing Research activity in the wearable solar device
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Key Restraints | - Toxic materials associated with some PV materials may endanger public health, limiting market growth.
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- The wearable solar device's instability is impeding market growth.
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Challenges | - High cost associated with the wearable solar device stymie the market growth
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- Availability of the cheap alternative in the market.
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Market Opportunities | - Miniaturization, in conjunction with the increased flexibility of solar cells, is opening up new opportunities for wearable solar technology.
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Key Target Audience
New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others