According to a new report, published by KBV research, The Global Wearable Computing Market size is expected to reach $238.2 billion by 2030, rising at a market growth of 19.6% CAGR during the forecast period.
The Smart Watches segment is experiencing a CAGR of 19.4% during (2023 - 2030). One of the key drivers propelling the growth of the market for wearable computing devices is consumers' growing usage of smartwatches and wristbands. The demand for wearable computing devices that allow doctors remotely monitor patient health is anticipated to rise in response to the rising public interest in fitness. As a result, it is anticipated that this will aid in reducing the number of fatalities caused by conditions including obesity, diabetes, heart disease, and asthma.
The Consumer segment is leading the segment in the Global Wearable Computing Market by Application in 2022; thereby, achieving a market value of $139.6 billion by 2030. Consumers are increasingly interested in wearables with personal safety features, including SOS alert systems, panic buttons, and location trackers. These gadgets offer peace of mind and improved safety measures, particularly for vulnerable groups like elders, children, and people working in high-risk professions.
The 4G/5G segment is exhibiting a CAGR of 20.6% during (2023 - 2030). Wearables can now deliver real-time data & experiences because of 5G's much quicker download and upload rates, decreased latency, and increased network capacity. Wearables can stream music, HD films, and other multimedia material easily thanks to 4G/5G connectivity. The user experience for programs like video calling, music streaming, and watching videos is improved as a result.
The North America region dominated the Global Wearable Computing Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $92.7 billion by 2030. The Asia Pacific market is anticipated to grow a CAGR of 20.6% during (2023 - 2030). Additionally, The Europe market would witness a CAGR of 19.2% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/wearable-computing-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Apple, Inc., Fossil Group, Inc., Garmin Ltd., Google LLC (Alphabet Inc.), Nike, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Sony Corporation, Sensoria Health Inc, Huawei Technologies Co., Ltd., and Xiaomi Corporation.
By Product Type
By Application
By Connectivity
By Geography
Companies Profiled
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