Wearable Technology Market

Wearable Technology Market by Product (Wristwear, Headwear, Footwear, Fashion & Jewelry, Bodywear), Type (Smart Textile, Non-Textile), Application (Consumer Electronics, Healthcare, Enterprise & Industrial), and Geography (2021-2026)

Report Code: SE 2763 Apr, 2021, by marketsandmarkets.com

[241 Pages Report] The Wearable Technology Market size is projected to grow from USD 116.2 billion in 2021 to USD 265.4 billion by 2026; it is expected to grow at a CAGR of 18.0% from 2021 to 2026. Factors such as growing demand for smart devices in the healthcare sector and surge in demand for IoT devices are driving the growth of the market during the forecast period.

Wearable Technology Market

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APAC held the largest market for the wearable technology market in 2026

APAC accounted for the largest share in the market in 2026. APAC has the presence of prominent market players. Manufacturers in China and India offer wearable devices at a low price, making them affordable for customers. Many international players get their wearable devices manufactured and assembled by local manufacturers based in the region and then brand their names. The region has many highly populated countries, which account for the high adoption rate of consumer electronics. Wearable device manufacturers are continuously innovating their wearable devices to attain a competitive advantage. Several manufacturers have integrated NFC technology into their wearable devices to enable payment functionalities. Also, increasing per capita income in developing countries in the region as well as improving the standard of living have led to the growing demand for wearable devices. Besides, the wearable technology market in APAC is moderately impacted by the COVID-19 pandemic. The consumer electronics industry in China witnessed a decline in production owing to the outbreak of COVID-19. The global prices of consumer electronics witnessed a rise initially owing to the partial clamp down on manufacturing facilities in China. Also, critical components such as NFC chips and RFID tags which are manufactured in China faced a slowdown in their supply chain. The pandemic has also positively impacted the market by accelerating the rise of the digital economy, particularly wearable devices such as smartwatches. APAC also includes countries such as China, Japan, Singapore, and Australia, which are proving to be digitally mature markets where demand for consumer electronics has already been on the rise. These factors are fueling the market growth of wearable technology in APAC.

Wearable Technology Market by Region

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The wearable technology market is dominated by a few globally established players such as Apple Inc. (US), Fitbit Inc. (US), Google LLC (US), Samsung Electronics Co., Ltd.(South Korea), Garmin Ltd.(Switzerland), LG(South Korea), Huawei(China), Sony Corporation(Japan), Xiaomi Corporation(China), and Microsoft (US)

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Scope of the Report

Report Metric

Details

Market size available for years

2017–2026

Base year considered

2020

Forecast period

2021–2026

CAGR

18.0%

Segments covered

By Product, By Type, By Application

Geographies covered

Asia Pacific, Europe, the Americas (North America, South America), and Rest of World

Companies covered

The major market players include Apple Inc., Fitbit Inc., Google LLC, Samsung Electronics Co., Ltd., Garmin Ltd., LG, Huawei, Sony Corporation, Xiaomi Corporation, and Microsoft.

The study categorizes the wearable technology market based on product, type, application at the regional and global levels.

By Type:

  • Wearable Smart Textiles
  • Wearable Products and Devices (Non-Textiles)

By Product:

  • Wristwear
  • Headwear
  • Footwear
  • Fashion & Jewelry
  • Bodywear
  • Other Wearable Technology

By Application:

  • Consumer Electronics
  • Healthcare
  • Enterprise and Industrial Applications
  • Other Applications

By Region

  • Americas
  • Europe
  • Asia Pacific
  • Rest of World

COVID-19 Impact on the Global Wearable technology market

COVID-19 is expected to adversely impact the supply chain of the market as a few prominent players are based in China, which is the epicenter of the pandemic. Moreover, in light of the current situation, the key wearable technology is presently focusing on maintaining and generating operating revenue, which led to fewer developments within the market in 2020. The impact of COVID-19 is expected to reduce during the forecast period as many scheduled product launches and related developments which were postponed will be realized.

Wearable technology Market Dynamics

Driver: Increasing growth prospects of next-generation displays in wearable devices

As a result of more than 3 decades of R&D, technologists have realized the dream of bringing displays into wearable devices such as smart glasses and smartwatches. Recently, it has been possible to develop flexible and affordable electronic displays; however, the major challenges that companies face are the high requirement of luminance, high power consumption, and brightness issues. However, recent product launches by various industry players suggest improvements in the display technology in wearable devices. In February 2019, Nubia Alpha launched a one-of-a-kind smartwatch that comes with an OLED flexible display, a camera, and an eSIM support at MWC 2019. The Nubia Alpha smartwatch specifications include a Snapdragon Wear 2100 SoC, 1 GB RAM, and 8 GB internal storage. The Nubia Alpha runs on a custom OS and packs a 500-mAh battery. Additionally, advancements in backplane materials is the current trend. Instead of silicon in the backplane, engineers use a metal oxide composed of indium, gallium, and zinc in equal parts, giving the material its name—IGZO or indium gallium zinc oxide—which is used in advanced wearable display technology. It is expected that the industry outlook toward integrating the next-generation display technology in wearable devices would further improve the marketability of wearable products.

Restraint: Limited battery life

The major limiting factor to the growth of the wearable technology market is the absence of a reliable and efficient battery system that could be easily worn without compromising on the compactness and ease of use of the device. As wearable computing moves toward convergence of all the computing devices into one wearable device, the biggest challenge is to address the power requirement and manage power consumption and recharging of batteries. With the growing demand for wearable devices, it is not only essential to meet the power efficiency need in a cost-effective manner but also to manage power consumption. This factor is expected to have a high restraining impact on the market.

Opportunity: Demand for wearables that integrate all computing requirements in one compact device

Consumers prefer to have a single compact device that could integrate all the computing and monitoring requirements. This preference presents an opportunity for the development of multi-function and hybrid wearable devices that provide convenience to users as well as integrates the functionality of many devices into a single compact wearable device. The number of such devices is expected to increase in the coming years. With a steady transformation from the Plain Old Telephone System (POTS) to cellular gateways and mobile phones, cellular technologies have become a leading medium for data transmission and communication. This factor is expected to present a good opportunity for companies to launch wearables connected with mobile devices such as smartphones and tablets.

Challenge: Demand for continuous developments in devices

The consumer electronics sector is a rapidly evolving marketplace. However, market players face high price erosion as products with old technology lose their significance when a new technology is developed. Technology advances at an incredible speed, and keeping up with these advancements is quite difficult as by the time engineers come up with a prototype, the technology changes. New technologies are being developed at a rapid pace and integrated with various products as an additional function. Consumers also prefer products that have more features and are technologically advanced.LCDs were the most extensively used technologies in the global  market

Recent Developments

  • In September 2020, Apple Inc. launched Apple Watch Series 6 and Apple Watch SE, two iPad models, the first fitness experience built for Apple Watch that brings significant developments in health and wellness features to iPhone, iPad, and Apple TV. Apple Watch Series 6 expanded the health capabilities of previous Apple Watch models with a new feature that measures the oxygen saturation of blood for a better understanding of fitness and wellness.
  • In September 2020, Samsung Electronics Co., Ltd. launched the first-ever titanium model of Galaxy Watch3, built with premium materials and a stunning signature rotating bezel. The watch features military-grade durability and water resistance. The watch also features Samsung Pay to enable contactless payments
  • In August 2019, Fitbit Inc. launched Versa 2, a premium, voice-enabled lifestyle smartwatch packed with even more advanced health, fitness, payment features. The watch enables users to pay through the FitPay application and convenience features powered by 5+ days of battery life.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 27)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE
           1.3.1 MARKETS COVERED
                    FIGURE 1 MARKETS COVERED UNDER WEARABLE TECHNOLOGY
           1.3.2 YEARS CONSIDERED
    1.4 CURRENCY AND PRICING
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES DONE

2 RESEARCH METHODOLOGY (Page No. - 32)
    2.1 RESEARCH DATA
           FIGURE 2 RESEARCH DESIGN
           2.1.1 SECONDARY AND PRIMARY RESEARCH
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Key industry insights
                    2.1.2.3 Breakdown of primaries
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach for arriving at market share by bottom-up analysis (demand side)
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for arriving at market share by top-down analysis (supply side)
                               FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY FOR WEARABLE TECHNOLOGY MARKET THROUGH SUPPLY-SIDE ANALYSIS
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 4 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS
    2.5 RISK ASSESSMENT

3 EXECUTIVE SUMMARY (Page No. - 41)
    FIGURE 5 MARKET (2021–2026) (USD BILLION)
    FIGURE 6 HEADWEAR IN MARKET TO GROW AT HIGHEST RATE BETWEEN 2021 VS 2026
    3.1 COVID-19 IMPACT ON MARKET
          FIGURE 7 COVID-19 IMPACT ON MARKET
           3.1.1 REALISTIC SCENARIO (POST-COVID-19)
           3.1.2 OPTIMISTIC SCENARIO (POST-COVID-19)
           3.1.3 PESSIMISTIC SCENARIO (POST-COVID-19)
                    FIGURE 8 CONSUMER ELECTRONICS TO BE LARGEST MARKET FOR WEARABLE TECHNOLOGY BETWEEN 2021 AND 2026
                    FIGURE 9 APAC TO ACCOUNT FOR LARGEST SHARE OF MARKET DURING FORECAST PERIOD

4 PREMIUM INSIGHTS (Page No. - 46)
    4.1 WEARABLE TECHNOLOGY MARKET OPPORTUNITIES
          FIGURE 10 MARKET TO DISPLAY LUCRATIVE GROWTH OPPORTUNITIES OWING TO INCREASING DEMAND FOR FITNESS AND HEALTH TRACKING DEVICES DURING FORECAST PERIOD
    4.2 MARKET, BY APPLICATION, 2021–2026 (USD BILLION)
          FIGURE 11 MARKET FOR ENTERPRISE & INDUSTRIAL SEGMENT TO WITNESS HIGHEST GROWTH RATE BETWEEN 2021 AND 2026
    4.3 MARKET FOR WRISTWEAR, BY PRODUCT, 2021 VS. 2026 (USD BILLION)
          FIGURE 12 MARKET FOR SMARTWATCH TO GROW RAPIDLY BETWEEN 2021 AND 2026
    4.4 MARKET, BY APPLICATION AND REGION
          FIGURE 13 MARKET FOR CONSUMER ELECTRONICS ACCOUNTED FOR LARGEST MARKET SHARE IN 2020
    4.5 GEOGRAPHICAL SNAPSHOT OF THE MARKET
          FIGURE 14 MARKET IN APAC TO GROW AT HIGHEST RATE BETWEEN 2021 AND 2026

5 MARKET OVERVIEW (Page No. - 50)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
          FIGURE 15 WEARABLE TECHNOLOGY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Increasing growth prospects of next-generation displays in wearable devices
                    5.2.1.2 Growing consumer preference for sleek and compact devices in fitness and healthcare applications
                    5.2.1.3 Rising popularity of IoT and connected devices
                                TABLE 1 DRIVER IMPACT ANALYSIS
           5.2.2 RESTRAINTS
                    5.2.2.1 Limited battery life
                                TABLE 2 RESTRAINT IMPACT ANALYSIS
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Demand for wearables that integrate all computing requirements in one compact device
                    5.2.3.2 Adoption of wearables in multiple applications
                                TABLE 3 OPPORTUNITY IMPACT ANALYSIS
           5.2.4 CHALLENGES
                    5.2.4.1 Demand for continuous developments in devices
                    5.2.4.2 Unaddressed regulatory issues and vulnerability of healthcare information
                                TABLE 4 IMPACT ANALYSIS
    5.3 SUPPLY CHAIN ANALYSIS
           5.3.1 CORE INDUSTRY SEGMENT
           5.3.2 SUPPORTING INDUSTRY SEGMENT
                    FIGURE 16 WEARABLE TECHNOLOGY MARKET: SUPPLY CHAIN FLOW
    5.4 VALUE CHAIN ANALYSIS
          FIGURE 17 VALUE CHAIN ANALYSIS OF MARKET
    5.5 ECOSYSTEM ANALYSIS
          TABLE 5 ECOSYSTEM: WEARABLE TECHNOLOGY
          FIGURE 18 YC-YCC SHIFT: WEARABLE TECHNOLOGY
    5.6 PORTER’S FIVE FORCES ANALYSIS
           5.6.1 BARGAINING POWER OF SUPPLIERS
           5.6.2 BARGAINING POWER OF BUYERS
           5.6.3 THREAT OF NEW ENTRANTS
           5.6.4 THREAT OF SUBSTITUTES
           5.6.5 INTENSITY OF COMPETITIVE RIVALRY
                    TABLE 6 IMPACT OF EACH FORCE ON MARKET
    5.7 TECHNOLOGY ANALYSIS
           5.7.1 GROWING POPULARITY OF IOT AND CONNECTED DEVICES
           5.7.2 AI-BASED VIRTUAL ASSISTANCE IN WEARABLES
    5.8 PRICING ANALYSIS
          TABLE 7 AVERAGE SELLING PRICE FOR WEARABLE DEVICES, BY TYPE, 2020
          FIGURE 19 AVERAGE SELLING PRICE FOR WEARABLE DEVICES, 2020 -2026
    5.9 TRADE ANALYSIS
          TABLE 8 IMPORT DATA, BY COUNTRY, 2015–2019 (USD MILLION)
          TABLE 9 EXPORT DATA, 2015–2019 (USD MILLION)
    5.10 USE CASES AND CASE STUDY OF WEARABLE DEVICES
           TABLE 10 USE CASES AND CASE STUDY OF WEARABLE DEVICES
           TABLE 11 MARKET ASSESSMENT OF TELEMATICS-RELATED WEARABLE DEVICES
           TABLE 12 MARKET ASSESSMENT OF TINY TOOTH-MOUNTED SENSOR WEARABLE TECHNOLOGY
           TABLE 13 MARKET ASSESSMENT OF TAPPY TECH’S WEARABLE PAYMENTS TECHNOLOGY
           TABLE 14 MARKET ASSESSMENT OF COLLABORATION BETWEEN BANK OF AMERICA AND FITPAY TO SPEED UP WEARABLE PAYMENTS
    5.11 COVID-19 IMPACT ON WEARABLE TECHNOLOGY MARKET
    5.12 PATENT ANALYSIS OF MEDICAL WEARABLE DEVICES
           TABLE 15 PATENT ANALYSIS
           TABLE 16 PATENTS IN WEARABLE PAYMENT DEVICE MARKET
    5.13 REGULATIONS
    5.14 TRAFFIC LANDSCAPE
           5.14.1 TRAFFIC LANDSCAPE
                     TABLE 17 TARIFF DATA FOR WRIST WATCHES FOR CHINA, BY COUNTRY, 2020
                     TABLE 18 TARIFF DATA FOR WRIST WATCHES FOR US, BY COUNTRY, 2020
                     TABLE 19 TARIFF DATA FOR WRIST WATCHES FOR GERMANY, BY COUNTRY, 2020

6 SOFTWARE AND SERVICES USED IN WEARABLE TECHNOLOGY (Page No. - 78)
    6.1 INTRODUCTION
          FIGURE 20 SOFTWARE AND SERVICE USED IN WEARABLE TECHNOLOGY
    6.2 SOFTWARE
           6.2.1 SOFTWARE DEVELOPMENT KITS
           6.2.2 OPERATING SYSTEM (0S)
                    6.2.2.1 watchOS
                    6.2.2.2 Android
                    6.2.2.3 Android Wear OS
                    6.2.2.4 Real-time Operating System (RTOS)
                    6.2.2.5 Tizen
                    6.2.2.6 Linux
                    6.2.2.7 Others
           6.2.3 SECURITY SOLUTIONS
                    6.2.3.1 By security type
                               6.2.3.1.1 Network security
                               6.2.3.1.2 Cloud security
                               6.2.3.1.3 Wireless security
                               6.2.3.1.4 Application security
                    6.2.3.2 By solution type
                               6.2.3.2.1 Role-based access control (RBAC)
                               6.2.3.2.2 Risk & vulnerability management
                               6.2.3.2.3 Distributed Denial of Service (DDoS) mitigation
                               6.2.3.2.4 Intrusion detection and prevention system
           6.2.4 APPS (APPLICATIONS)
    6.3 IMPACT OF COVID-19 ON SOFTWARE AND SERVICES
    6.4 SERVICES
           6.4.1 CLOUD & DATA ANALYTICS

7 WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY (Page No. - 87)
    7.1 INTRODUCTION
          FIGURE 21 MARKET, BY TECHNOLOGY
    7.2 COMPUTING TECHNOLOGY
    7.3 DISPLAY TECHNOLOGY
    7.4 NETWORKING TECHNOLOGY
    7.5 POSITIONING TECHNOLOGY
    7.6 SENSOR TECHNOLOGY
           7.6.1 ACCELEROMETER
           7.6.2 GYROSCOPE
           7.6.3 MAGNETOMETER
           7.6.4 PROXIMITY SENSOR
    7.7 COVID-19 IMPACT ON WEARABLE DEVICES AND TECHNOLOGY

8 WEARABLE TECHNOLOGY MARKET, BY COMPONENT (Page No. - 93)
    8.1 INTRODUCTION
          FIGURE 22 MARKET, BY COMPONENT
    8.2 POWER SUPPLY COMPONENTS
    8.3 POSITIONING AND NETWORKING COMPONENTS
    8.4 SENSING COMPONENTS
    8.5 CONTROL COMPONENTS
    8.6 DISPLAY AND OPTOELECTRONIC COMPONENTS
    8.7 MEMORY COMPONENTS
    8.8 INTERFACE COMPONENTS

9 WEARABLE TECHNOLOGY MARKET, BY PRODUCT (Page No. - 98)
    9.1 INTRODUCTION
          FIGURE 23 MARKET, BY PRODUCT
          FIGURE 24 HEADWEAR TO WITNESS HIGHEST GROWTH RATE DURING FORECAST PERIOD
          TABLE 20 MARKET, BY PRODUCT, 2017–2020 (USD MILLION)
          TABLE 21 MARKET, BY PRODUCT, 2021–2026 (USD MILLION)
          TABLE 22 MARKET, BY PRODUCT, 2017–2020 (MILLION UNITS)
          TABLE 23 MARKET, BY PRODUCT, 2021–2026 (MILLION UNITS)
    9.2 WRISTWEAR
           9.2.1 SMARTWATCHES
           9.2.2 WRISTBANDS
                    TABLE 24 WEARABLE TECHNOLOGY MARKET FOR WRISTWEAR, BY PRODUCT, 2017–2020 (USD MILLION)
                    TABLE 25 MARKET FOR WRISTWEAR, BY PRODUCT, 2021–2026 (USD MILLION)
                    TABLE 26 MARKET FOR WRISTWEAR, BY PRODUCT, 2017–2020 (MILLION UNITS)
                    TABLE 27 MARKET FOR WRISTWEAR, BY PRODUCT, 2021–2026 (MILLION UNITS)
    9.3 HEADWEAR
           9.3.1 AUGMENTED REALITY HEADSETS
           9.3.2 VIRTUAL REALITY HEADSETS
           9.3.3 OTHERS
                    TABLE 28 MARKET FOR HEADWEAR, BY PRODUCT, 2017–2020 (USD MILLION)
                    TABLE 29 MARKET FOR HEADWEAR, BY PRODUCT, 2021–2026 (USD MILLION)
                    TABLE 30 MARKET FOR HEADWEAR, BY PRODUCT, 2017–2020 (MILLION UNITS)
                    TABLE 31 MARKET FOR HEADWEAR, BY PRODUCT, 2021–2026 (MILLION UNITS)
    9.4 FOOTWEAR
             TABLE 32 WEARABLE TECHNOLOGY MARKET FOR FOOTWEAR, 2017–2020 (USD MILLION)
             TABLE 33 MARKET FOR FOOTWEAR, 2021–2026 (USD MILLION)
             TABLE 34 MARKET FOR FOOTWEAR, 2017–2020 (MILLION UNITS)
             TABLE 35 MARKET FOR FOOTWEAR, 2021–2026 (MILLION UNITS)
    9.5 FASHION AND JEWELRY
             TABLE 36 MARKET FOR FASHION & JEWELRY, 2017–2020 (USD MILLION)
             TABLE 37 MARKET FOR FASHION & JEWELRY, 2021–2026 (USD MILLION)
             TABLE 38 MARKET FOR FASHION & JEWELRY, 2017–2020 (MILLION UNITS)
             TABLE 39 MARKET FOR FASHION & JEWELRY, 2021–2026 (MILLION UNITS)
    9.6 BODYWEAR
           9.6.1 INNERWEAR
           9.6.2 OUTERWEAR
                    TABLE 40 MARKET FOR BODYWEAR, BY PRODUCT,  2017–2020 (USD MILLION)
                    TABLE 41 MARKET FOR BODYWEAR, BY PRODUCT, 2021–2026 (USD MILLION)
                    TABLE 42 MARKET FOR BODYWEAR, BY PRODUCT, 2017–2020 (MILLION UNITS)
                    TABLE 43 MARKET FOR BODYWEAR, BY PRODUCT, 2021–2026 (MILLION UNITS)
    9.7 OTHERS
           9.7.1 RING SCANNERS
           9.7.2 BODY-WORN CAMERAS
           9.7.3 INTERNABLES/IMPLANTABLES
                    TABLE 44 MARKET FOR OTHERS, BY PRODUCT, 2017–2020 (USD MILLION)
                    TABLE 45 MARKET FOR OTHERS, BY PRODUCT, 2021–2026 (USD MILLION)
                    TABLE 46 MARKET FOR OTHERS, BY PRODUCT, 2017–2020 (MILLION UNITS)
                    TABLE 47 MARKET FOR OTHERS, BY PRODUCT, 2021–2026 (MILLION UNITS)

10 WEARABLE TECHNOLOGY MARKET, BY TYPE (Page No. - 115)
     10.1 INTRODUCTION
             FIGURE 25 MARKET, BY TYPE
             FIGURE 26 NON-TEXTILE TYPE WEARABLE PRODUCTS TO GROW AT HIGHEST CAGR IN MARKET BETWEEN 2021 AND 2026
             TABLE 48 MARKET, BY TYPE, 2017–2020 (USD MILLION)
             TABLE 49 MARKET, BY TYPE, 2021–2026 (USD MILLION)
             TABLE 50 MARKET, BY TYPE, 2017–2020 (MILLION UNITS)
             TABLE 51MARKET, BY TYPE, 2021–2026 (MILLION UNITS)
     10.2 WEARABLE SMART TEXTILE
             10.2.1 WEARABLE SMART TEXTILE MARKET, BY TYPE
                        TABLE 52 WEARABLE SMART TEXTILES MARKET, BY TYPE, 2017–2020 (USD MILLION)
                        TABLE 53 WEARABLE SMART TEXTILES MARKET, BY TYPE, 2021–2026 (USD MILLION)
                        10.2.1.1 Active smart textiles
                        10.2.1.2 Passive smart textiles
                        10.2.1.3 Ultra-smart textiles
             10.2.2 RELATED ARTICLES
                        TABLE 54 ACTIVE SMART TEXTILES MARKET, BY FUNCTION, 2017–2020 (USD MILLION)
                        TABLE 55 ACTIVE SMART TEXTILES MARKET, BY FUNCTION, 2021–2026 (USD MILLION)
                        TABLE 56 PASSIVE SMART TEXTILE MARKET, BY FUNCTION, 2017–2020 (USD MILLION)
                        TABLE 57 PASSIVE SMART TEXTILE MARKET, BY FUNCTION, 2021–2026 (USD MILLION)
                        TABLE 58 ULTRA-SMART TEXTILES MARKET, BY FUNCTION, 2017–2020 (USD MILLION)
                        TABLE 59 ULTRA-SMART TEXTILES MARKET, BY FUNCTION, 2021–2026 (USD MILLION)
             10.2.3 WEARABLE SMART TEXTILES MARKET, BY FUNCTION
                        TABLE 60 WEARABLE SMART TEXTILES MARKET, BY FUNCTION, 2017–2020 (USD MILLION)
                        TABLE 61 WEARABLE SMART TEXTILES MARKET, BY FUNCTION, 2021–2026 (USD MILLION)
                        10.2.3.1 Sensing
                                      TABLE 62 SMART TEXTILES MARKET FOR SENSING, BY TYPE, 2017–2020 (USD MILLION)
                                      TABLE 63 SMART TEXTILES MARKET FOR SENSING, BY TYPE, 2021–2026 (USD MILLION)
                        10.2.3.2 Energy harvesting
                                      TABLE 64 SMART TEXTILES MARKET FOR ENERGY HARVESTING, BY TYPE, 2017–2020 (USD MILLION)
                                      TABLE 65 SMART TEXTILES MARKET FOR ENERGY HARVESTING, BY TYPE, 2021–2026 (USD MILLION)
                        10.2.3.3 Luminescence & aesthetics
                                      TABLE 66 SMART TEXTILES MARKET FOR LUMINESCENCE & AESTHETICS, BY TYPE, 2017–2020 (USD MILLION)
                                      TABLE 67 SMART TEXTILES MARKET FOR LUMINESCENCE & AESTHETICS, BY TYPE, 2021–2026 (USD MILLION)
                        10.2.3.4 Thermoelectricity
                                      TABLE 68 SMART TEXTILES MARKET FOR THERMOELECTRICITY, BY TYPE, 2017–2020 (USD MILLION)
                                      TABLE 69 SMART TEXTILES MARKET FOR THERMOELECTRICITY, BY TYPE, 2021–2026 (USD MILLION)
                        10.2.3.5 Others
                                      TABLE 70 SMART TEXTILES MARKET FOR OTHERS, BY TYPE, 2017–2020 (USD MILLION)
                                      TABLE 71 SMART TEXTILES MARKET FOR OTHERS, BY TYPE, 2021–2026 (USD MILLION)
     10.3 WEARABLE PRODUCTS & DEVICES (NON-TEXTILES)

11 WEARABLE TECHNOLOGY MARKET, BY APPLICATION (Page No. - 129)
     11.1 INTRODUCTION
             FIGURE 27 MARKET, BY APPLICATION
             FIGURE 28 CONSUMER ELECTRONICS APPLICATION TO DOMINATE MARKET BETWEEN 2021 AND 2026
             TABLE 72 MARKET, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 73 MARKET, BY APPLICATION, 2021–2026 (USD MILLION)
             TABLE 74 MARKET, BY APPLICATION, 2017–2020 (MILLION UNITS)
             TABLE 75 MARKET, BY APPLICATION, 2021–2026 (MILLION UNITS)
     11.2 CONSUMER ELECTRONICS
             11.2.1 FITNESS & SPORTS
             11.2.2 INFOTAINMENT & MULTIMEDIA
             11.2.3 GARMENTS & FASHION
             11.2.4 MULTIFUNCTION
                        TABLE 76 WEARABLE TECHNOLOGY MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY TYPE, 2017–2020 (USD MILLION)
                        TABLE 77 MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 78 MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY TYPE, 2017–2020 (MILLION UNITS)
                        TABLE 79 MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY TYPE, 2021–2026 (MILLION UNITS)
                        TABLE 80 MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY REGION, 2017–2020 (USD MILLION)
                        TABLE 81 MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY REGION, 2021–2026 (USD MILLION)
                        TABLE 82 MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2017–2020 (THOUSAND UNITS)
                        TABLE 83 MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2021–2026 (THOUSAND UNITS)
     11.3 HEALTHCARE
             TABLE 84 WEARABLE TECHNOLOGY MARKET FOR HEALTHCARE APPLICATION, BY TYPE, 2017–2020 (USD MILLION)
             TABLE 85 MARKET FOR HEALTHCARE APPLICATION, BY TYPE, 2021–2026 (USD MILLION)
             TABLE 86 MARKET FOR HEALTHCARE APPLICATION, BY TYPE, 2017–2020 (MILLION UNITS)
             TABLE 87 MARKET FOR HEALTHCARE APPLICATION, BY TYPE, 2021–2026 (MILLION UNITS)
             11.3.1 CLINICAL APPLICATIONS
             11.3.2 NON-CLINICAL APPLICATIONS
                        TABLE 88 MARKET FOR HEALTHCARE, BY REGION, 2017–2020 (USD MILLION)
                        TABLE 89 MARKET FOR HEALTHCARE, BY REGION, 2021–2026 (USD MILLION)
                        TABLE 90 MARKET FOR HEALTHCARE APPLICATION, BY REGION, 2017–2020 (THOUSAND UNITS)
                        TABLE 91 MARKET FOR HEALTHCARE APPLICATION, BY REGION, 2021–2026 (THOUSAND UNITS)
     11.4 ENTERPRISE & INDUSTRIAL APPLICATION
             11.4.1 LOGISTICS, PACKAGING, & WAREHOUSE
             11.4.2 OTHER INDUSTRIAL APPLICATIONS
                        TABLE 92 WEARABLE TECHNOLOGY MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY TYPE, 2017–2020 (USD MILLION)
                        TABLE 93 MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY TYPE, 2021–2026 (USD MILLION)
                        TABLE 94 MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY TYPE, 2017–2020 (THOUSAND UNITS)
                        TABLE 95 MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY TYPE, 2021–2026 (THOUSAND UNITS)
                        TABLE 96 MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY REGION, 2017–2020 (USD MILLION)
                        TABLE 97 MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY REGION, 2021–2026 (USD MILLION)
                        TABLE 98 MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY REGION, 2017–2020 (THOUSAND UNITS)
                        TABLE 99 MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY REGION, 2021–2026 (THOUSAND UNITS)
     11.5 OTHER APPLICATIONS
             TABLE 100 WEARABLE TECHNOLOGY MARKET FOR OTHER APPLICATIONS (USD MILLION) (MILLION UNITS), 2017–2020
             TABLE 101 MARKET FOR OTHER APPLICATIONS (USD MILLION) (MILLION UNITS), 2021–2026
             TABLE 102 MARKET FOR OTHER APPLICATIONS, BY REGION, 2017–2020 (USD MILLION)
             TABLE 103 MARKET FOR OTHER APPLICATIONS, BY REGION, 2021–2026 (USD MILLION)
             TABLE 104 MARKET FOR OTHER APPLICATIONS, BY REGION, 2017–2020 (THOUSAND UNITS)
             TABLE 105 MARKET FOR OTHER APPLICATIONS, BY REGION, 2021–2026 (THOUSAND UNITS)

12 GEOGRAPHIC ANALYSIS (Page No. - 148)
     12.1 INTRODUCTION
             FIGURE 29 COUNTRY-WISE SNAPSHOT OF MARKET (2021–2026)
             FIGURE 30 MARKET IN APAC TO GROW AT HIGHEST RATE DURING FORECAST PERIOD
             TABLE 106 MARKET, BY REGION, 2017–2020 (USD MILLION)
             TABLE 107 MARKET, BY REGION, 2021–2026 (USD MILLION)
             TABLE 108 MARKET, BY REGION, 2017–2020 (THOUSAND UNITS)
             TABLE 109 MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
     12.2 AMERICAS
             FIGURE 31 AMERICAS: WEARABLE TECHNOLOGY MARKET SNAPSHOT
             12.2.1 US
             12.2.2 CANADA
             12.2.3 MEXICO
             12.2.4 OTHERS
                        TABLE 110 MARKET IN AMERICAS, BY COUNTRY, 2017–2020 (USD MILLION)
                        TABLE 111 MARKET IN AMERICAS, BY COUNTRY, 2021–2026 (USD MILLION)
                        TABLE 112 MARKET IN AMERICAS, BY COUNTRY, 2017–2020 (THOUSAND UNITS)
                        TABLE 113 MARKET IN AMERICAS, BY COUNTRY, 2021–2026 (THOUSAND UNITS)
                        TABLE 114 MARKET IN AMERICAS, BY APPLICATION,  2017–2020 (USD MILLION)
                        TABLE 115 MARKET IN AMERICAS, BY APPLICATION, 2021–2026 (USD MILLION)
                        TABLE 116 MARKET IN AMERICAS, BY APPLICATION,  2017–2020 (THOUSAND UNITS)
                        TABLE 117 MARKET IN AMERICAS, BY APPLICATION, 2021–2026 (THOUSAND UNITS)
     12.3 EUROPE
             FIGURE 32 EUROPE: WEARABLE TECHNOLOGY MARKET SNAPSHOT
             12.3.1 GERMANY
             12.3.2 UK
             12.3.3 FRANCE
             12.3.4 OTHERS
                        TABLE 118 MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD MILLION)
                        TABLE 119 MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD MILLION)
                        TABLE 120 MARKET IN EUROPE, BY COUNTRY,  2017–2020 (THOUSAND UNITS)
                        TABLE 121 MARKET IN EUROPE, BY COUNTRY, 2021–2026 (THOUSAND UNITS)
                        TABLE 122 MARKET IN EUROPE, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 123 MARKET IN EUROPE, BY APPLICATION, 2021–2026 (USD MILLION)
                        TABLE 124 MARKET IN EUROPE, BY APPLICATION, 2017–2020 (THOUSAND UNITS)
                        TABLE 125 MARKET IN EUROPE, BY APPLICATION, 2021–2026 (THOUSAND UNITS)
     12.4 ASIA PACIFIC (APAC)
             FIGURE 33 ASIA-PACIFIC: WEARABLE TECHNOLOGY MARKET SNAPSHOT
             12.4.1 CHINA
             12.4.2 JAPAN
             12.4.3 SOUTH KOREA
             12.4.4 INDIA
             12.4.5 OTHERS
                        TABLE 126 MARKET IN APAC, BY COUNTRY, 2017–2020 (USD MILLION)
                        TABLE 127 MARKET IN APAC, BY COUNTRY, 2021–2026 (USD MILLION)
                        TABLE 128 MARKET IN APAC, BY COUNTRY, 2017–2020 (THOUSAND UNITS)
                        TABLE 129 MARKET IN APAC, BY COUNTRY, 2021–2026 (THOUSAND UNITS)
                        TABLE 130 MARKET IN APAC, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 131 MARKET IN APAC, BY APPLICATION, 2021–2026 (USD MILLION)
                        TABLE 132 MARKET IN APAC, BY APPLICATION, 2017–2020 (THOUSAND UNITS)
                        TABLE 133 MARKET IN APAC, BY APPLICATION, 2021–2026 (THOUSAND UNITS)
     12.5 REST OF THE WORLD
             FIGURE 34 REST OF THE WORLD: WEARABLE TECHNOLOGY MARKET SNAPSHOT
             12.5.1 MIDDLE EAST
             12.5.2 AFRICA
                        TABLE 134 ROW WEARABLE TECHNOLOGY, BY REGION, 2017–2020 (USD MILLION)
                        TABLE 135 ROW WEARABLE TECHNOLOGY, BY REGION, 2021–2026 (USD MILLION)
                        TABLE 136 MARKET IN ROW, BY REGION, 2017–2020 (THOUSAND UNITS)
                        TABLE 137 MARKET IN ROW, BY REGION, 2021–2026 (THOUSAND UNITS)
                        TABLE 138 MARKET IN ROW, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 139 MARKET IN ROW, BY APPLICATION, 2021–2026 (USD MILLION)
                        TABLE 140 MARKET IN ROW, BY APPLICATION, 2017–2020 (THOUSAND UNITS)
                        TABLE 141 MARKET IN ROW, BY APPLICATION, 2021–2026 (THOUSAND UNITS)

13 COMPETITIVE LANDSCAPE (Page No. - 176)
     13.1 INTRODUCTION
     13.2 TOP 3 COMPANY REVENUE ANALYSIS
             FIGURE 35 MARKET: REVENUE ANALYSIS (2019)
     13.3 MARKET SHARE ANALYSIS, 2020
             TABLE 142 MARKET: MARKET SHARE ANALYSIS (2020)
     13.4 COMPETITIVE LEADERSHIP MAPPING
             13.4.1 STAR
             13.4.2 EMERGING LEADER
             13.4.3 PERVASIVE
             13.4.4 PARTICIPANT
                        FIGURE 36 MARKET: COMPETITIVE LEADERSHIP MAPPING, 2020
             13.4.5 MARKET: PRODUCT FOOTPRINT
                        TABLE 143 COMPANY FOOTPRINT
                        TABLE 144 APPLICATION FOOTPRINT OF COMPANIES
     13.5 SMALL AND MEDIUM ENTERPRISES (SME) EVALUATION QUADRANT, 2020
             13.5.1 PROGRESSIVE COMPANIES
             13.5.2 RESPONSIVE COMPANIES
             13.5.3 DYNAMIC COMPANIES
             13.5.4 STARTING BLOCKS
                        FIGURE 37 MARKET (GLOBAL), SME EVALUATION QUADRANT, 2020
     13.6 COMPETITIVE SITUATIONS AND TRENDS
             13.6.1 PRODUCT LAUNCHES
                        TABLE 146 MARKET: PRODUCT LAUNCHES, JANUARY 2018–FEBRUARY 2021
             13.6.2 DEALS
                        TABLE 147 MARKET: DEALS, JANUARY 2018– FEBRUARY 2021

14 COMPANY PROFILES (Page No. - 187)
     14.1 INTRODUCTION
     14.2 IMPACT OF COVID-19 ON PLAYERS OF WEARABLE TECHNOLOGY MARKET
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
     14.3 KEY PLAYERS
             14.3.1 APPLE INC.
                        FIGURE 38 APPLE INC.: COMPANY SNAPSHOT
             14.3.2 XIAOMI CORPORATION
                        FIGURE 39 XIAOMI: COMPANY SNAPSHOT
             14.3.3 SAMSUNG ELECTRONICS CO., LTD.
                        FIGURE 40 SAMSUNG ELECTRONICS CO., LTD.: COMPANY SNAPSHOT
             14.3.4 FITBIT, INC.
                        FIGURE 41 FITBIT, INC.: COMPANY SNAPSHOT
             14.3.5 GARMIN LTD.
                        FIGURE 42 GARMIN: COMPANY SNAPSHOT
             14.3.6 GOOGLE LLC
                        FIGURE 43 GOOGLE LLC: COMPANY SNAPSHOT
             14.3.7 MICROSOFT
                        FIGURE 44 MICROSOFT: COMPANY SNAPSHOT
             14.3.8 SONY
                        FIGURE 45 SONY: COMPANY SNAPSHOT
             14.3.9 LG
                        FIGURE 46 LG: COMPANY SNAPSHOT
             14.3.10 HUAWEI TECHNOLOGIES
     14.4 OTHER KEY PLAYERS
             14.4.1 INTELLITIX
             14.4.2 NYMI
             14.4.3 MCLEAR LTD.
             14.4.4 JAKCOM TECHNOLOGY CO.
             14.4.5 TOKEN
             14.4.6 INFINEON TECHNOLOGIES AG
             14.4.7 QUALCOMM TECHNOLOGIES, INC.
             14.4.8 ADIDAS GROUP
             14.4.9 MISFIT, INC.
             14.4.10 GUANGDONG BBK ELECTRONICS CO., LTD
             14.4.11 LIFESENSE GROUP B.V.
             14.4.12 DYNABOOK AMERICAS, INC.
             14.4.13 OPTINVENT
             14.4.14 SEIKO EPSON
             14.4.15 VUZIX

15 APPENDIX (Page No. - 234)
     15.1 INSIGHTS OF INDUSTRY EXPERTS
     15.2 DISCUSSION GUIDE
     15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     15.4 AVAILABLE CUSTOMIZATIONS
     15.5 RELATED REPORTS
     15.6 AUTHOR DETAILS

The study involved four major activities in estimating the size of the wearable technology market. Exhaustive secondary research has been done to collect information on the market, peer market, and parent market. Validation of these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the global market size. After that, market breakdown and data triangulation have been used to estimate the market sizes of segments and subsegments.

Secondary Research

The secondary sources referred to for this research study includes TechCrunch News, OLED Wearable technology, Fraunhofer Data, and Photonics Articles. In the wearable technology market report, both top-down and bottom-up approaches have been used to estimate and validate the size of the wearable technology market, along with other dependent submarkets. The key players in the wearable technology market have been identified through secondary research, and their market presence has been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Primary Research

Extensive primary research has been conducted after acquiring an understanding of the wearable technology market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand- (consumers, industries, healthcare) and supply-side (wearable technology product manufacturers) players across four major regions, namely, Americas, Europe, Asia Pacific, and Rest of the World (the Middle East & Africa). Approximately 70% and 30% of primary interviews have been conducted from the supply and demand side, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.

Wearable Technology Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the wearable technology market. These methods have also been extensively used to estimate the sizes of various market subsegments. The research methodology used to estimate the market sizes includes the following:

  • Identifying market for wearable technology-based products (Wristwear, Fashion & Jewelry, Headwear, Footwear, Bodywear) in each country
  • Identifying the major applications of wearable technology-related products
  • Estimating the size of the market in each region by adding the sizes of country-wise markets
  • Tracking the ongoing and upcoming implementation of wearable technology projects by various companies in each region and forecasting the size of the wearable technology market based on these developments and other critical parameters, including COVID-19 related impacts
  • Arriving at the size of the global market by adding the sizes of region-wise markets

Wearable Technology Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size—using the market size estimation processes explained above—the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides.

The main objectives of this study are as follows:

  • To define, describe, and forecast the wearable technology market, in terms of value and volume, by product, application, type, and region
  • To forecast the market, for various segments with respect to four main regions—the Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW), in terms of value and volume
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contribution to the overall wearable technology market
  • To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the wearable technology market growth
  • To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the wearable technology market
  • To study the complete value chain and allied industry segments, and perform a value chain analysis of the wearable technology market landscape
  • To map competitive intelligence based on company profiles, key player strategies, and key developments
  • To strategically profile key players and comprehensively analyze their market ranking and core competencies2
  • To track and analyze competitive developments such as joint ventures, mergers and acquisitions, product developments, and research and development (R&D) in the wearable technology market

Available Customizations:

MarketsandMarkets offers the following customizations for this market report:

  • Additional country-level analysis of wearable technology market
  • Profiling of additional market players (up to 5)
  • Country-level analysis of component, and system type Segment
Report Code
SE 2763
Published ON
Apr, 2021
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