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Pulished Date August, 2021
ID: 11897
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Middle East & Africa Smart Wearables Market Research Report – Segmented By Product, End User & Country (KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2021 to 2026)

Pulished: August, 2021
ID: 11897
Pages: 100

MEA Smart Wearables Market Size (2021 to 2026)

The size of the smart wearables market in MEA is forecasted to register a notable CAGR during the forecast period.

Due to the increasing penetration rates of urbanization, the demand for advanced aesthetically attractive products that can better meet the demands of consumers, such as schedules, multiple functions in one device, has driven the demand for smartwatches. Additionally, the region's huge millennial population has embraced smartwatches due to increased spending on keeping track of their regular working hours and luxury standards.

The geriatric population suffering from many illnesses is driving the evolution of home care towards a more precise model of personal care. For example, the population of the Middle East is aging rapidly. Since aging is one of the main risk factors for cancer, the incidence and prevalence of this disease are increasing among all region inhabitants. According to UN figures, the MENA region's population is expected to grow from 445 million to 664 million by 2050. It is expected that there will be nearly 19.6 million people over the age of 60 living in the GCC by 2050, representing 27.4% of the total population and a significant increase from the current number.

The regional aging population may require increasingly constant monitoring, which will drive demand for new smartwatches for health monitoring purposes during the forecast period. As a result, the region is witnessing the demand for smart wearables for healthcare purposes. Many new use cases are starting to gain demand, and more and more users can see the real health and fitness benefits that smart wearables offer.

However, the high cost and the availability of alternative substitutes are expected to restrict the smart wearables market in this region during the forecast period.

Impact of COVID-19 on the MEA smart wearables market:

The recent global COVID-19 outbreak has affected several industries. The shutdowns of production plants affected the electronics industry. Companies, including Apple and Samsung, have closed their production plants. Smartwatches, laptops, and other devices are expected to experience weak demand in the first half of 2020; however, sales of smart wearables are expected to improve in the second half when devices such as the Apple Watch are updated.

This research report on the MEA Smart Wearables market has been segmented and sub-segmented into the following categories:

By Product:

  • Smartwatches
  • Head-mounted Displays​
  • Smart Clothing
  • Ear Worn
  • Fitness Trackers​
  • Body-worn Camera​
  • Exoskeleton​
  • Medical Devices

By Country:

  • KSA
  • UAE
  • Israel
  • rest of GCC countries
  • South Africa
  • Ethiopia
  • Kenya
  • Egypt
  • Sudan
  • rest of MEA

Geographically, South Africa is expected to be the next big market for the smart wearables market. The level of adoption of wearable technology is currently low among South African households. However, this is expected to increase as the technology becomes more mainstream and more affordable. According to Samsung Enterprise Mobility, smartwatches and other wearable devices may soon move from consumer devices to valuable business tools, and CIOs in South Africa are gearing up to manage and secure the wave of new business technologies. They are expected to offer more huge opportunities to suppliers.

According to Arab Health, 47% of GCC residents find smart wearable technologies, such as smartwatches or fitness trackers, to be an effective way to monitor their health. Rising consumer spending in countries like UAE is expected to drive market growth. Consumer spending in the UAE increased to AED 434,215.66 million in 2019 from AED 426,982.68 million in 2018.

In addition, it is expected that there will be 9.78 million internet users in the UAE in 2020. The number of internet users in the UAE increased by 128,500 (+ 1.4%) between 2019 and 2020. The growing internet population would create opportunities for smart wearables in the region. In addition, rapid urbanization and the growth of shopping centers and shopping malls have played a fundamental role in changing shopping habits in the region.

Companies are launching more and more new products to establish themselves in the region. For example, Fitbit announced the Fitbit Versa 2 in the United Arab; these show the great opportunities for market growth in the MEA region.

KEY MARKET PLAYERS:

A few of the promising companies operating in the MEA smart wearables market profiled in this report are Apple, Covidien Plc, Philips Electronics, Fitbit Inc., LifeWatch AG, Polar Electro, Jawbone, Sotera Wireless, Pebble Technology Corp., Drägerwerk AG & Co. KGaA, Omron Corp., Samsung, Huawei, Lifesense Group, Adidas Group, Qualcomm Technologies, Inc, Sony Corporation, Garmin, Nokia Technologies, Vital Connect, and Everist Genomics.

  1. Introduction                                                          
    1. Market Definition                                               
    2. Scope of the report                                            
    3. Study Assumptions                                            
    4. Base Currency, Base Year and Forecast Periods                                                     
  2. Research Methodology                                                                    
    1. Analysis Design                                                   
    2. Research Phases                                                 
      1. Secondary Research                                       
      2. Primary Research                              
      3. Data Modelling                                 
      4. Expert Validation                              
    3. Study Timeline                                                    
  3. Report Overview                                                                 
    1. Executive Summary                                           
    2. Key Inferences                                                  
  4. Market Dynamics                                                                
    1. Impact Analysis                                                   
      1. Drivers                                  
      2. Restraints                              
      3. Opportunities                                    
    2. Regulatory Environment                                                  
    3. Technology Timeline & Recent Trends                                                      
  5. Competitor Benchmarking Analysis                                                             
    1. Key Player Benchmarking                                                
      1. Market share analysis                                    
      2. Products/Service                              
      3. Regional Presence                            
    2. Mergers & Acquisition Landscape                                                
    3. Joint Ventures & Collaborations                                                  
  6. Market Segmentation                                                                       
    1. Smart Wearables Market, By Product
      1. Smartwatches
      2. Head-mounted Displays
      3. Smart Clothing
      4. Ear Worn
      5. Fitness Trackers
      6. Body-worn Camera
      7. Exoskeleton
      8. Medical Devices
      9. Market Size Estimations & Forecasts (2021-2026)                               
      10. Y-o-Y Growth Rate Analysis                                         
      11. Market Attractiveness Index                                       
  7. Geographical Landscape                                                                  
    1. Smart Wearables Market, by Region                                            
    2. Latin America                           
      1. By Country                                         
        1. Mexico
        2. Brazil
        3. Argentina
        4. Chile
        5. Rest of Latin America
  8. Key Player Analysis                                                             
    1. Apple
      1. Business Description                                      
      2. Products/Service                              
      3. Financials                             
      4. SWOT Analysis                                  
      5. Recent Developments                                    
      6. Analyst Overview                              
    2. Covidien Plc
    3. Philips Electronics
    4. Fitbit Inc.
    5. LifeWatch AG
    6. Polar Electro
    7. Jawbone
    8. Sotera Wireless
    9. Pebble Technology Corp.
    10. Drägerwerk AG & Co. KGaA
    11. Omron Corp.
    12. Samsung
    13. Huawei
    14. Lifesense Group
    15. Adidas Group
    16. Qualcomm Technologies, Inc.
    17. Sony Corporation
    18. Garmin
    19. Nokia Technologies
    20. Vital Connect
    21. Everist Genomics
  9. Market Outlook & Investment Opportunities
  10. Appendix                                               
    1. List of Tables
    2. List of Figures
  • Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
  • Segment-level analysis in terms of product along with market size forecasts and estimations to detect key areas of industry growth in detail.
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics.
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis.
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development.
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment.
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies.
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions.
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.
  1. Middle East and Africa Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  2. Middle East and Africa Smartwatches Market, By Region, From 2021 to 2026 (USD Billion)
  3. Middle East and Africa Head-mounted Displays​ Market, By Region, From 2021 to 2026 (USD Billion)
  4. Middle East and Africa Smart Clothing Market, By Region, From 2021 to 2026 (USD Billion)
  5. Middle East and Africa Ear Worn Market, By Region, From 2021 to 2026 (USD Billion)
  6. Middle East and Africa Fitness Trackers​ Market, By Region, From 2021 to 2026 (USD Billion)
  7. Middle East and Africa Body-worn Camera​ Market, By Region, From 2021 to 2026 (USD Billion)
  8. Middle East and Africa Exoskeleton​ Market, By Region, From 2021 to 2026 (USD Billion)
  9. Middle East and Africa Medical Devices Market, By Region, From 2021 to 2026 (USD Billion)
  10. Middle East Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  11. Africa Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)

 

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