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Global Wearable Market is Set to Accrue $192.14 Billion by 2030, Exhibiting a Strong 15.8% CAGR, Propelled by Increased Demand for Smart Devices, Says Kings ResearchDUBAI, UAE, Feb. 5, 2024 /PRNewswire/ -- As per the recent report published by Kings Research, the global Wearable Market size was recorded at USD 68.77 billion in 2022 and is estimated to grow to USD 192.14 billion by 2030, exhibiting a CAGR of 15.8% through the projection period of 2023-2030. The industry is witnessing substantial expansion due to the availability of an innovative and advanced product range. This progress can be attributed to several factors, such as advancements in sensor technology, increased focus on well-being, and the growing demand for smart devices among consumers. Prevalent trends in the market demonstrate a noticeable transition towards an increasingly technology-driven way of life, wherein wearables are significantly contributing to activities such as monitoring fitness, communication, and entertainment. Wearable technology encompasses electronic gadgets specifically created to be worn on the human body, typically as accessories or clothing. These devices serve users with a multitude of functions and advantages, due to the incorporation of sensors and advanced technologies. They can collect data, monitor activities, and carry out tasks, gaining popularity across various sectors and in daily life. Additionally, wearable technology has expanded its scope beyond personal well-being to find applications in industries such as manufacturing and logistics, where it enhances workplace safety and productivity. Get a Sample PDF of the Report: https://www.kingsresearch.com/request-sample/wearable-market-181 Competitive Landscape Prominent companies in the global wearable market are placing great importance on product innovation as a primary approach to broadening their range of offerings. For instance, Samsung introduced the Galaxy Watch6 and Galaxy Watch6 Classic in July 2023, with the goal of promoting better daily and nighttime health routines for users. These watches come with a sleek and refined design that includes a thinner bezel, an upgraded and engaging screen, and a user-friendly interface. The Galaxy Watch6 series offers a wide range of health features and performs exceptionally well. Prominent players in the global wearable market include:
Have an Inquiry? Get in Touch with us @ https://www.kingsresearch.com/enquiry/wearable-market-181 Trending Now: Samsung Announces Reentry into Wearable Market with Samsung Glasses November 27, 2023: Consumer electronics behemoth Samsung is poised to revolutionize the landscape of wearable technology with its latest breakthrough, the XR "Samsung Glasses". Having recently secured a UK patent, the company has strengthened its position in the extended reality (XR) market, directly challenging Apple's Vision Pro. This signifies Samsung's strategic reentry into the wearable tech arena, marking a return after its initial venture with Gear VR. As reported by Android Central, the release of Samsung Glasses is expected in late 2024. This places them in direct competition with Apple's eagerly anticipated mixed-reality headset, also slated for release in the same year. Samsung's initial production plans involve approximately 30,000 units of its glasses, with the scale of future production contingent on the initial market response and early sales performance. The global Wearable Market is segmented as: By Product
Rising Demand for Wrist Wearables to Track Activities to Aid Market Expansion On the basis of product, the wrist-wear segment accounted for the highest market share in 2022 due to the increasing number of individuals who prioritize their fitness. Fitness wearables consist of various gadgets such as smartwatches and activity trackers. These gadgets provide functions such as counting steps, monitoring heart rates, and tracking workouts, which attract individuals aiming to enhance their overall physical health. The expanding wearable market is driven by the incorporation of GPS and social connectivity, which improve user engagement and promote active living. Ask for Customization: https://www.kingsresearch.com/customization/wearable-market-181 By Application
In terms of application, the consumer electronics segment held the largest market share in 2022. The growth of the segment is mainly driven by the widespread usage of wearable devices, which include AR/VR headsets and fitness bands. It is worth mentioning that several companies such as Garmin Ltd., Apple Inc., and Nemaura have dedicated their efforts to creating gadgets that offer extensive data covering both medical and non-medical aspects. Booming Health and Wellness Monitoring Industry to Drive Wearable Market Growth The health and wellness monitoring industry has established itself as a major factor driving the advancement of wearable technology. By utilizing state-of-the-art biometric sensors, these devices offer users the ability to constantly monitor vital signs, physical activity, and sleep patterns. This significant development is transforming the healthcare landscape as an increasing number of individuals embrace the chance to take an active role in managing their overall health and well-being. The increasing demand for wearable devices that effortlessly combine fashionable designs and advanced functionality has created a significant shift in consumer behavior. People now want to integrate technological innovations with their personal style choices. In light of this trend, businesses in the wearable industry have a golden chance to meet the growing demand for stylish and feature-packed wearables that enable users to enhance their health and fitness objectives. By aligning their product offerings with this changing consumer mindset, companies have the opportunity to thrive in the flourishing wearable market. Purchase This Comprehensive Research Report for Valuable Market Insights: https://www.kingsresearch.com/buy-now/181 Early Technology Adoption Set to Propel Sales in North America North America led the market in 2022 due to its population's technological proficiency and widespread acceptance of fitness and health tracking devices. With its advanced infrastructure and a strong inclination towards early technology adoption, the region has established itself as a prime center for wearable technology innovation and market growth. The technological landscape in North America is highly advanced and provides a favorable environment for businesses in the wearable device industry to flourish. Additionally, increasing consumer awareness and demand for wearable devices further contribute to the region's potential for success. Moreover, the active engagement and enthusiasm of consumers in the region play a significant role in the continuous development and widespread acceptance of wearable technologies. For more information on the report, visit: https://www.kingsresearch.com/wearable-market-181 Key Points from TOC: 1 Introduction of The Global Wearable Market 2 Executive Summary 3 Research Methodology 4 Global Wearable Market Outlook 5 Impact of Russia-Ukraine War 6 Global Wearable Market, By Product 14 Global Wearable Market Competitive Landscape 15 Company Profiles 15.2 Huawei Device Co., Ltd. 15.3 Apple Inc. 15.4 Xiaomi 15.5 Nike, Inc. Continued………… Browse Complete TOC: https://www.kingsresearch.com/toc/wearable-market-181 Browse More Related Reports: Professional Hair Care Market: Global Industry Analysis and Forecast 2023-2030 Mineralized Water Machine Market: Global Industry Analysis and Forecast 2023-2030 Air Bubble Film Machine Market: Global Industry Analysis and Forecast 2023-2030 Technical Textiles Market: Global Industry Analysis and Forecast 2023-2030 Outdoor Kitchen Appliances Market: Global Industry Analysis and Forecast 2023-2030 Sanitary Napkin Market: Global Industry Analysis and Forecast 2023-2030 Bath Bomb Market: Global Industry Analysis and Forecast 2023-2030 About Us: Kings Research stands as a renowned global market research firm. With a collaborative approach, we work closely with industry leaders, conducting thorough assessments of trends and developments. Our primary objective is to provide decision-makers with tailored research reports that align with their unique business objectives. Through our comprehensive research studies, we strive to empower leaders to make informed decisions. Our team comprises individuals with diverse backgrounds and a wealth of knowledge in various industries. At Kings Research, we offer a comprehensive range of services aimed at assisting you in formulating efficient strategies to achieve your desired outcomes. Our objective is to significantly enhance your long-term progress through these tailored solutions. Contact Us Kings Research SOURCE Kings Research 
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