Market Analysis & Forecasts

2021-03-04

Outlook on the Wearable Electronics Global Market to 2027 - featuring Apple, Bose and Epson America among others

The global market for Wearable Electronics is projected to reach US$61.4 billion by 2025, driven by the availability of inexpensive sensors, miniaturized yet powerful microchips and processors, low-power lighter electronic components, evolving app ecosystem and the resulting expansion of applications addressed by wearable products and services.

The global market for Wearable Electronics is projected to reach US$61.4 billion by 2025, driven by the availability of inexpensive sensors, miniaturized yet powerful microchips and processors, low-power lighter electronic components, evolving app ecosystem and the resulting expansion of applications addressed by wearable products and services.

After smartphones and tablets, smart wearables is the new innovation taking the technology to a fevered pitch in the consumer electronics industry. These tiny devices hold the potential to replace smartphones, make the many benefits of digital health real and achievable, enable the rise of hyper-connected interactive enterprises, and make clothing smart, fashionable, functional and comfortable. Benefits of wearables devices include lightweight, extreme portability, durable, easily transportable, convenience, ease-of-use and comfort. Smartwatch is the most popular form and dominant factor for wearables. Other evolving new designs include smart glasses, goggles, bracelets, armbands, necklaces, lanyards, pins, clips, headbands, headsets, belts, shoes, shirts, Jackets and pants, among others.

The biggest area of impact in electronic wearables is in the healthcare industry. Medical grade wearables are poised to create a revolution in personalized digital healthcare. Wearables will enable telehealth via remote patient monitoring (RPM) capabilities making healthcare services more efficient, self-determined and cost efficient. Opportunities in this space are immense as the current healthcare system seeks to utilize telehealth to advance value based care goals. A key benefit of telehealth is its ability to drive positive patient experience and eliminate access barriers to offer patient-centric and convenient care. Wearables will also play a key role in precision medicine by providing physicians better knowledge of patients' health. Integration of sensors such as physiological sensors and biochemical sensors will provide continuous monitoring of a patient's vital signs and timely clinical decisions can be taken such as therapy modifications based on subtle changes observed in health patterns.

From simple biophysical/ biochemical monitoring (BP & diabetes), continuous innovation will expand applications to more advanced continuous arrhythmia detection and monitoring blood pulse signals from human femoral, carotid and radial arteries. Another exciting area of innovation is the integration of artificial intelligence (AI) enabled "Healthbot" applications in smartwatches designed to help patients with disease/therapy management and counselling. Healthbots have the potential to expand the outreach of healthcare services especially in countries and regions where doctor to patient ratio is low thus creating a bottleneck in accessing primary care services.



Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Wearable Technology: The Transition from Science Fiction to Reality

• Historical Journey of Wearable Technology

• Applications & Solutions of Wearable Electronics

• Wearable Electronics Market: Expanding Applications of Miniaturized, High Performance Wearable Devices Boosts Prospects

• Wrist-Wear Dominates Global Wearable Electronics Market

• Consumer Electronics: The Largest End-Use Market

• Developed Regions Lead, Developing Regions at the Forefront of Future Growth

• Global Competitor Market Shares

• Wearable Electronics Competitor Market Share Scenario Worldwide (in %): 2019

• Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

• Apple, Inc. (USA)

• Bose Corporation (USA)

• Epson America, Inc. (USA)

• Fitbit, Inc. (USA)

• Garmin Ltd. (USA)

• Huawei Technologies Co., Ltd. (China)

• Infineon Technologies AG (Germany)

• LG Electronics, Inc. (South Korea)

• Lifesense Group B.V. (The Netherlands)

• Lumus Ltd. (Israel)

• Misfit, Inc. (USA)

• Qualcomm Technologies, Inc. (USA)

• ReSound (Denmark)

• Samsung Electronics Co., Ltd. (South Korea)

• Shimmer Research, Inc. (Ireland)

• Sony Corporation (Japan)

• Texas Instruments, Inc. (USA)

• Titan Industries Ltd. (India)

• Vuzix Corporation (USA)

• Xiaomi Corporation (China)

3. MARKET TRENDS & DRIVERS

• Expanding Internet Connectivity and Growing Consumer Demand for Advanced Wearable Devices Fuels Market Prospects

• Rapid Increase in Penetration Rate of Internet: 2018 Vs. 2009

• Rising Number of IoT and Connected Devices Drive Growth in Wearable Electronics Market

• World IoT Market: Number of Connected Devices (in Million) for Years 2016, 2018E, 2020P and 2022P

• Market Share Scenario of Connected Devices in Global Internet of Things (IoT) by Geographic Region: 2019 & 2024

• Growing Prominence of Wearable Tech in Healthcare Propels Market Growth

• Global Digital Healthcare Opportunity (in US$ Billion) for the Years 2017, 2019, 2022, 2024 and 2026

• Chronic Diseases Management: A Key Focus Area

• Need for Continuous Monitoring of Elderly Patients as Part of Chronic Disease Management Drives Growth: Number of People Aged 65+ Years in Million by Geographic Region for the Years 2019 and 2030

• Rising Consumer Awareness about Health & Fitness Spells Growth for Wearables

• Potential Role for Wearable Electronics in Patient Monitoring and Tracking Systems

• Smart Clothing Gains Acceptance in Neonatal Monitoring

• Wearables Technology Makes Diabetes Manageable

• Rising Diabetes Prevalence Presents Opportunity for Wearable Electronics Market: Number of Adults (20-79) with Diabetes (in Millions) by Region for 2019 and 2045

• ECG Monitoring Wearables: A Promising Area of Growth

• Increasing Significance of Wearables in Pain Management

• Wearable Sleep Monitoring Technology

• Wearable EEG Monitors

• Smart Medical Textile Garments: An Emerging Area of Interest

• Wrist Wear: A Revolutionary Wearable Phenomenon Fuels Growth

• Hybrid Smartwatch Sales Drive Market Growth

• Smart Glasses for Multiple Industry Applications

• With Wearable Computing Gaining Mainstream Attention, the Time is Ripe for Mobility in the Realm of Augmented Reality

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

• Total Companies Profiled: 125

For more information about this report visit:

https://www.researchandmarkets.com/r/v94djy


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