Industry Background:
Wearable Devices comes in the category of technology devices that can be worn by a consumer and can include tracking information related to health and fitness. These devices are having small motion sensors which can synchronize with mobile devices. The revolution of technology with the utilization in daily lives and social interactions. The wearable devices are following the neuroscientific approach. Health and fitness wearable devices to offer biometric measurements such as heart rate, perspiration levels. Technology advancements in devices allow detecting to allow alcohol levels.This growth is primarily driven by Growth Prospects of Wearable Component Technology
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | Million Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Electronic Equipment & Instruments sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Apple, Inc. (United States), Alphabet, Inc. (United States), Fitbit, Inc. (United States), Sony Corporation (Japan), Garmin Ltd. (United States), Lenovo Group Ltd. (Hong Kong), Samsung Electronics Co, Ltd (South Korea), Qualcomm Technologies Inc. (United States), Nike Inc. (United States) and Huawei (China), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In Mar 2019, Fitbit announced four new products including Fitbit Versa Lite Edition, Fitbit Inspire HR, Fitbit Inspire, and Fitbit Ace 2, designed for health and fitness accessible to more consumers across the globe. This platform offers users engaging software features, access to their holistic data, and connection to one of the largest global health and fitness social networks which help to drive positive behavior change.The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies
Influencing Trend:
Addition of Smart Elements in Traditional Watches, Miniaturization of Electronic Devices and The rise in Popularity of Smart Watches among Younger Population
Market Growth Drivers:
Growth Prospects of Wearable Component Technology and Increasing Healthcare and Enterprise Adoption
Challenges:
Designing Technologically Advanced Product
Restraints:
Rapidly Evolving Technology and Lack of Durability of Electronic Components
Opportunities:
Growing Demand for Wearable as a Service and Potential Growth in Emerging Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Wearable Devices Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Wearable Devices Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Wearable Devices players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Wearable Devices Study Sheds Light on
The Wearable Devices Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Wearable Devices industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Wearable Devices industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.