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Smart Wearable Devices Market Segmented By devices that is Smart Watch, Medical Devices, Smart Glasses, Wrist Bands, Ear Wear, Fitness Trackers, Sport Watches, Activity Monitors, Smart Clothing, and by function that is Sensing, Energy Harvesting, Luminescence and Aesthetics, Thermo-electricity.
Smart wearable devices are the integration of advanced technologies into wearable objects such as a watch, eyewear, wristband, etc. Smart wearable devices include smartwatches, fitness trackers, VR headsets, smart wristbands, Activity tracker, sports watches, and other smart wearable devices.
There is increasing adoption of these devices among consumers as devices facilitate the connection of places, people, and things. The primary factors which are expected to propel the growth of smart wearable devices are the introduction of innovative products used in daily life such as activity monitoring, heartbeat monitoring, etc.
Many leading players are creating such smart wearable devices which are expected to lead wearable technologies to another level in future. Smart wearable devices have also entered into entertainment sector by creating new techniques to experience digital media.
VR headsets and AR glasses have come to represent the smart wearable devices in entertainment. This smart wearable devices are used for application in various sectors such as defense, lifestyle, fitness and sports, and others. One of the factor is rise in awareness of wearables and technological advancements which is expected to drive the smart wearable devices market.
Smart wearable devices allow the user to check health-related information on their smart wearables. Obesity has become a major concern in many parts of the world, and therefore people are selecting wearable technology for monitoring the health and fitness related data.
Rising consumer awareness and higher adoption of smart wearable devices in healthcare are driving the growth of global smart wearable devices market. These factors are projected to spur the demand in the forecast period.
However, higher cost of manufacturing these wearable devices is a major challenge for market players and is expected to hinder the growth of smart wearable devices market.
Few prominent players in Smart Wearable Devices market include Samsung Electronics Co., Ltd, Apple Inc., Adidas Group, NIKE, Inc., Garmin Ltd., Fitbit Inc., Sony Corporation, LG Electronics Inc., Motorola Corporation, Qualcomm Inc., Pebble Technology Corp., Withings SA and Xiaomi Technology Co. Ltd., etc.
North America is expected to be the major contributor to smart wearable devices market. Europe also shows the highest potential for growth which is followed by Asia Pacific Region. North America Region is estimated to witness higher growth due to various advancement in wearable technologies in smart devices and existence of leading players in U.S.
Asia Pacific is also projected to contribute significantly due to the rising usage of smart devices in consumer electronics and healthcare sector. Latin America and MEA are expected to contribute significantly in the upcoming years.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.