Wearables: Discover Key Drivers that will Boost Growth

Market Insights to Drive Recovery from COVID-19

The Global Wearables Market is projected to grow by $ 23.03 bn, accelerating at a CAGR of over 6.70% till 2025. This research report delineates the growth drivers that will boost market growth along with a detailed analysis of the market segments, trends and challenges that are likely to impact market growth.


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Wearables Market: Key Market Drivers

One of the key factors that will drive growth is Growing preference for wearables devices for payment. This research report provides a comprehensive analysis of this and all the other factors that will boost growth during the forecast period. In addition to market drivers, our research report also studies the latest trends and challenges that are likely to influence growth in the current market scenario. Our analysis is designed to empower clients with actionable insights that will help them leverage growth opportunities and formulate winning strategies to drive their business further.

Top Drivers for Wearables Market Size to Grow by $ 23.03 bn During 2021-2025

Wearables Market: Segment List

This report provides a detailed analysis of the market by Product (smartwatches, wireless headphones, HMDs, smart bands, and others) and Geography (North America, APAC, Europe, South America, and MEA). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges on each market segment along with insights into the way forward. These insights will equip clients with information that will help them design a growth strategy for their business and area of operation. Request our Free Sample Report 

Wearables Market: Vendor Landscape

The market is fragmented, and the growth of the players depends on several factors such as market conditions, government support, and industry development. Marke players must distinguish their product and service offerings through a clear and unique value proposition to prosper in this competitive market.  Acer Inc., Apple Inc., ASUSTeK Computer Inc., Huawei Investment and Holding Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Sony Corp., and Xiaomi Corp. are some of the major market participants. The report offers a detailed analysis of each of the above-listed vendors and their product portfolio.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

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The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerate at a CAGR of over 6.70%.
     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 23.03 bn through 2021-2025.
     
  3. What is a key factor driving this market?
    Growing preference for wearables devices for payment will drive market growth over the forecast period.
     
  4. What are the key regions covered in this market research report?
    North America, APAC, Europe, South America, and MEA are the key regions featured in this research report.
     
  5. Which is the leading geographic region for this market:
    31% growth will originate from North America
     
  6. Who are the leading market vendors?
    The leading vendors in this market are Acer Inc., Apple Inc., ASUSTeK Computer Inc., Huawei Investment and Holding Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Sony Corp., and Xiaomi Corp.
     
  7. What are the market segments covered in this report?
    The market is segmented by Product (smartwatches, wireless headphones, HMDs, smart bands, and others) and Geography (North America, APAC, Europe, South America, and MEA)

Wearable Electronics Market Size to Grow by $ 41.24 bn through 2020-2024  

Technavio research projects the wearable electronics market to grow by $ 41.24 bn, accelerating at a CAGR of over 15% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking


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Wearable Electronics Market: Key Market Driver

One of the primary factors that will trigger the growth of the wearable electronics market size is the Rising digitization of global economy. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

Top Drivers for Wearables Market Size to Grow by $ 23.03 bn During 2021-2025

Wearable Electronics Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Acer Inc., Apple Inc., ASUSTeK Computer Inc., Huawei Investment & Holding Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Sony Corp., and Xiaomi Group are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

Wearable Electronics Market Size to Grow by $ 41.24 bn During 2020-2024

Technavio has been monitoring the wearable electronics market and it is expected to grow by $ 41.24 bn, accelerating at a CAGR of almost 15% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Wearable Electronics Market: North America to lead market growth during the forecast period

  • 56% of the market growth will originate from North America during the forecast period.
  • Growing focus on the development of low-powered electronics will be a key trend that will influence market growth significantly.
  • The The rising digitization of global economy will be a significant factor in driving the growth of the wearable electronics market.

Top Drivers for Wearables Market Size to Grow by $ 23.03 bn During 2021-2025

Wearable Electronics Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Acer Inc., Apple Inc., ASUSTeK Computer Inc., Huawei Investment & Holding Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Sony Corp., and Xiaomi Group are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

For more insights on this market: Download a Free Sample Report

Wearable Electronics Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive wearable electronics market growth during the next five years
  • Precise estimation of the wearable electronics market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the wearable electronics market industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of wearable electronics market vendors

Technavio has been monitoring the Global Wearable Electronics Market and it is expected to grow by USD 41.24 billion accelerating at a CAGR of over 15% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report

Top Drivers for Wearables Market Size to Grow by $ 23.03 bn During 2021-2025

Wearable Electronics Market: Rising Digitization of Global Economy to Drive Growth

Apart from developed countries, the emerging economies in APAC and EMEA are witnessing a significant surge in digitization, owing to the increasing Internet penetration, the growing mobile subscriber base, the rising number of IoT devices, and the several smart city projects that are underway. With the rising integration of advanced technologies such as contactless payment, AI, and VR into wearable electronic devices, the adoption of wearable electronic devices is expected to increase further. In addition, the development of a mobile app ecosystem is one of the factors that has increased the preference for wearable electronic devices.

The smartwatches segment showed maximum growth owing to an increase in partnerships between market vendors and market participants from various industries. The entry of low-cost smartwatch manufacturers is also expected to benefit the market in terms of increasing awareness of the potential benefits of smartwatches and growing sales of smartwatches. The demand for low-cost smartwatches is expected to increase significantly among price-sensitive consumers, specifically in emerging countries as they offer utility and make great tech-gifts.

Wearable Electronics Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Acer Inc., Apple Inc., ASUSTeK Computer Inc., Huawei Investment & Holding Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Microsoft Corp., Samsung Electronics Co. Ltd., Sony Corp., and Xiaomi Group are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

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