Wearable Computing Devices Market Increasing Demand with Leading Player, Comprehensive Analysis, Forecast 2025

The Global Wearable Computing Devices Market Report Forecast 2021 – 2025 offers a clear understanding of the subject matter. The report has been gathered using principal and subordinate research methodologies. Both these methods are directed towards cooperating accurate and meticulous data concerning the market dynamics, historical events, and the current market landscape. Additionally, the report also includes a SWOT analysis that concludes the strengths, weaknesses, opportunities, and threats impacting the segments of the overall market. The report also takes into account the impact of the COVID-19 and also forecasts its recovery post-COVID-19.

The global wearable computing devices market accounted for 181.5 million units in 2019, and it is expected to reach 520.1 million units by 2025, registering a CAGR of 19.9% over the forecast period (2020-2025). 

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Top Key Players in the Global Wearable Computing Devices Market: Apple Inc., Samsung Electronics Co. Ltd, Garmin Ltd, Fitbit, Inc, Fossil Group Inc., Huawei Technologies Co. Ltd, Sony Corporation, Microsoft Corporation, Nuheara Limited, Omron Healthcare Inc., Huami Corporation, Withings, Medtronic PLC, AIQ Smart Clothing Inc., Sensoria Inc., GoPro Inc., Transcend Information Inc., Ekso Bionics Holdings Inc., Cyberdyne Inc.

Market Overview:

Wearable technology is one of the emerging trends that integrate electronics into daily activities. According to Cisco, 500 billion devices are anticipated to be connected to the internet by 2030. The Internet of Things is the network of these connected devices. Xiaomi launched its next-generation fitness tracker called the Mi Band 4 in 2019. It features nearly 40% more prominent display than its predecessor, where the gadget supports Xiao AI voice assistant that can be used to control Xiaomi’s IoT or the internet of things products.

– Increasing technological advancements in the wearables market are driving the market. The wearable technology is quickly evolving into a significant technology segment, owing to the growing number of technological innovations by various major vendors. The hearable segment is witnessing a significant boost via innovations. For example, in January 2020, Nuheara announced its advanced hearing buds, the IQbuds MAX, which feature hybrid active noise cancellation and unique features for personalizing and enhancing the wearers soundscape.

– In addition, a survey by hospital executives from HIMSS and AT&T found that 47% of hospitals are providing wearables to patients with chronic diseases, and 47% are conducting remote monitoring via in-home medical devices and smartphone apps. The healthcare organizations see the telehealth potential and are convinced of its cost savings.
– However, with the recent outbreak of COVID-19, the global demand for electronics has slumped significantly during the first quarter of 2020. According to IPC’s survey of electronics manufacturers and suppliers in February 2020, nearly 69% of the respondents have reported that they were told by their suppliers that there would be delays in the shipments due to COVID-19. However, some other types of wearable computing devices are seeing significant growth in terms of demand, which is supported by online sales. For example, the global demand for smartwatches increased significantly during the first quarter of 2020, with Apple continuing to hold a prominent share of the market. The added benefits of health tracking have enabled demand growth.

Industry News and Updates:

– May 2020 – Garmin announced the quatix 6X Solar, the latest addition to its new marine GPS smartwatch series featuring a transparent solar charging display that uses the suns energy for extending the battery life. As the first Garmin marine-centric GPS smartwatch offering solar charging, the quatix 6X Solar combines all of the features of Garmins f_nix 6X Pro Solar with specialization in boating, fishing, cruising and sailing capabilities, so that users can spend more time on the water.
– January 2020 – Nuheara, the smart-hearing company, launched its IQbuds2 MAX earbuds. This product has a hybrid Active Noise Cancellation feature and unique features for personalizing and enhancing the wearers soundscape. Moreover, this product will allow users to fine-tune their sound environment.

Regional Analysis:

The report offers an in-depth assessment of the growth and other aspects of the Wearable Computing Devices market in important countries (regions), including:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Market Size Estimation:

The Total Addressable Market (TAM) for estimating the market size two approaches are used: Bottom-up and Top-down approach. In the Bottom-up approach, the consumption of in the various segments is taken into account. The regional, segment-wise, and end-user uptake/consumption is taken into account for this approach. This is then totaled to arrive at the TAM for this approach. In the Top-down approach, the company-wise production in terms of both value and volume is taken into account and totaled for arriving at the TAM. This data is then bifurcated based on the consumption in the various market segments.

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This Wearable Computing Devices Market report addresses:

– The Market size from 2015-2020

– Expected market growth until 2025

– Forecast of how market drivers, restraints, and future opportunities will affect

– Segment and regions that will drive or lead market growth and why

– Comprehensive mapping of the competitive landscape

– In-depth analysis of key sustainability strategies adopted by market place

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– The market estimate (ME) sheet in Excel format
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Covid-19 Impact Analysis:

All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain have been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.

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