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Pulished Date June, 2021
ID: 11704
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Global Smart Wearables Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report - Segmented By Product and Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) - Industry Forecast (2021 to 2026)

Pulished: June, 2021
ID: 11704
Pages: 190

Global Smart Wearables Market Size (2021 to 2026)

The global smart wearables market size is estimated to be growing at a CAGR of 21.24% from 2021 to 2026.

Smart wearables, commonly known as wearable electrocardiograms (ECG), electroencephalography (EEG), electromyography (EMG), blood pressure (BP), photoplethysmography (PPG), heart sound, respiration, sleep, and motion monitoring, have recently gained a significant role in the field of healthcare and are expected to be a large and promising market in the technology industry.

Wearable devices are now used for a variety of healthcare monitoring tasks. Many new future research opportunities exist in this field, such as contact tracing for COVID-19 infected patients using such wearable devices. Because healthcare wearable devices are a rapidly growing market, other aspects related to it, such as consumer adoption of those devices and the underlying factors associated with it, such as challenges and privacy concerns, must be addressed.

MARKET DRIVERS:

The increasing penetration of mobile platforms into human lives and the growing adoption of AI and 5G are some of the significant factors accelerating the growth rate of the global smart wearables market.

In 2020, the number of unique mobile internet users was 4.28 billion, indicating that a mobile device is used by more than 90% of the global internet population. Many aspects of clinical practice have been transformed due to health care professionals' (HCPs') use of mobile devices. Mobile devices have become ubiquitous in healthcare settings, resulting in a surge in medical software applications (apps) for these platforms. In addition, the fifth generation of cellular wireless technology, 5G, will provide massive connection power and rapid speeds, potentially transforming the way healthcare is delivered. With the introduction of the new 5G technology, IoT networks and applications in the healthcare sector will be more connected than ever. Furthermore, data access from mobile devices is frequently required by providers. Because of the increasing complexity and volume of data in healthcare, artificial intelligence (AI) will be used more frequently. Several types of artificial intelligence (AI) are already being used by payers and providers of care and life sciences companies.

Many aspects of patient care and administrative processes within providers, payers, and pharmaceutical organizations have the potential to be transformed by these technologies.

Wearable healthcare monitoring devices are getting better, which is estimated to boost the global smart wearables market during the forecast period.

Wearable devices are also on the cutting edge of medical IoT. For example, MiWi is a wireless remote temperature monitoring device with a web interface that measures axillary temperature using temperature sensors. These low-cost, high-performance wearable devices give healthcare professionals an accurate picture of a patient's health in real-time. For patients, a wireless remote temperature monitoring device is advanced. This device uses a patient and coordinator set design approach, including temperature measurement, receipt, transmission, and recording via the MiWi wireless network. Importantly, by continuously monitoring patients' temperatures 24 hours a day, seven days a week, the system is likely to improve care quality.

Additionally, factors such as Y-O-Y growth in the markets such as home healthcare and remote patient monitoring, rising prevalence of chronic diseases, Y-O-Y growth in the geriatric population across the world, growing government involvement in the healthcare sector, as well as a greater emphasis on fitness and a healthy lifestyle orientation are predicted to promote the growth rate of the global smart wearables market.

MARKET RESTRAINTS:

The placement of healthcare equipment in the home has presented several challenges to the market. Manufacturers attempt to address the unique issues associated with untrained users using their equipment outside of controlled clinical settings. High costs associated with the monitoring devices are a significant factor restraining the growth rate of the global smart wearables market. Concerns associated with data safety and security are another primary factor expected to hamper the market’s growth rate.

Product recalls and stringent regulatory requirements for new products, on the other hand, have stifled this market’s growth to some extent. Furthermore, strict government regulations for device approval are limiting market growth. However, the limited battery life in almost all wearables is expected to impact market growth negatively.

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

Because of the COVID 19 pandemic, healthcare institutions are eager to implement artificial intelligence-based solutions for a successful outcome. Although COVID-19 may be the driving force behind this adoption, healthcare institutions have become aware of this emerging technology in recent years. Healthcare monitoring devices emerged as one of the key approaches for assisting patients in the effects of the COVID-19 pandemic, owing to social distancing and lockdown measures to control the viral spread and the adoption of digital technology in the healthcare sector. A pandemic, such as Coronavirus disease, demonstrates the urgent need to change its traditional healthcare monitoring system, which generates a lot of waste and pollutes the environment.

IoT has gained convincing research ground as a new research topic in a wide range of academic and industrial disciplines, particularly in healthcare, in recent years. Governments worldwide have advised us on measures such as social isolation, lockdown, and quarantine. Sales of fitness tracking wearables have increased dramatically since the COVID 19 outbreak. This rising demand for wearables is expected to continue even after the outbreak has been contained, broadening the market's scope. Data obtained through remote surveillance, such as mHealth, telehealth, and real-time patient status monitoring. The COVID-19 pandemic has increased the importance of wearable technologies in the healthcare industry. Wearable devices are becoming increasingly popular in various fields, ranging from sports and fitness to health monitoring in the pandemic.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020 to 2026

Base Year

2020

Forecast Period

2021 to 2026

Segments Covered

By Product and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

This research report on the global smart wearables market has been segmented and sub-segmented based on the component, application, and region.

Smart Wearables Market – By Product:

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

Smart Wearables Market – By Region:

  • North America
    • The U.S.
    • Canada
    • Rest of North America
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Japan
    • Australia
    • South Korea
    • Rest of APAC
  • Latin America
    • Mexico
    • Brazil
    • Argentina
    • Chile
    • Rest of Latin America
  • Middle East and Africa

KEY MARKET PLAYERS:

A few of the prominent companies operating in the global smart wearables market covered 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. Global Smart Wearables Market, by Region                                            
    2. North America - Market Analysis (2021 to 2026)                                                      
      1. By Country                                         
        1. USA                      
        2. Canada               
    3. Europe                                                   
      1. By Country                                         
        1. UK                        
        2. France                 
        3. Germany                          
        4. Spain                   
        5. Italy                     
        6. Rest of Europe                 
    4. Asia Pacific                                             
      1. By Country                                         
        1. China                  
        2. India                    
        3. Japan                  
        4. South Korea                     
        5. South East Asia                
        6. Australia & NZ                  
        7. Rest of Asia-Pacific                        
    5. Latin America                                                      
      1. By Country                                         
        1. Brazil                   
        2. Argentina                         
        3. Mexico                
        4. Rest of Latin America                   
    6. Middle East and Africa                                                     
      1. By Country                                         
        1. Middle East                      
        2. Africa                  
  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
  • Global 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. Global Smart Wearables Market, By Region, From 2021 to 2026 (USD Billion)
  2. Global Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  3. Global Smartwatches Market, By Region, From 2021 to 2026 (USD Billion)
  4. Global Head-mounted Displays​ Market, By Region, From 2021 to 2026 (USD Billion)
  5. Global Smart Clothing Market, By Region, From 2021 to 2026 (USD Billion)
  6. Global Ear Worn Market, By Region, From 2021 to 2026 (USD Billion)
  7. Global Fitness Trackers​ Market, By Region, From 2021 to 2026 (USD Billion)
  8. Global Body-worn Camera​ Market, By Region, From 2021 to 2026 (USD Billion)
  9. Global Exoskeleton​ Market, By Region, From 2021 to 2026 (USD Billion)
  10. Global Medical Devices Market, By Region, From 2021 to 2026 (USD Billion)
  11. North America Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  12. North America Smartwatches Market, By Region, From 2021 to 2026 (USD Billion)
  13. North America Head-mounted Displays​ Market, By Region, From 2021 to 2026 (USD Billion)
  14. North America Smart Clothing Market, By Region, From 2021 to 2026 (USD Billion)
  15. North America Ear Worn Market, By Region, From 2021 to 2026 (USD Billion)
  16. North America Fitness Trackers​ Market, By Region, From 2021 to 2026 (USD Billion)
  17. North America Body-worn Camera​ Market, By Region, From 2021 to 2026 (USD Billion)
  18. North America Exoskeleton​ Market, By Region, From 2021 to 2026 (USD Billion)
  19. North America Medical Devices Market, By Region, From 2021 to 2026 (USD Billion)
  20. United States Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  21. Canada Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  22. Europe Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  23. Europe Smartwatches Market, By Region, From 2021 to 2026 (USD Billion)
  24. Europe Head-mounted Displays​ Market, By Region, From 2021 to 2026 (USD Billion)
  25. Europe Smart Clothing Market, By Region, From 2021 to 2026 (USD Billion)
  26. Europe Ear Worn Market, By Region, From 2021 to 2026 (USD Billion)
  27. Europe Fitness Trackers​ Market, By Region, From 2021 to 2026 (USD Billion)
  28. Europe Body-worn Camera​ Market, By Region, From 2021 to 2026 (USD Billion)
  29. Europe Exoskeleton​ Market, By Region, From 2021 to 2026 (USD Billion)
  30. Europe Medical Devices Market, By Region, From 2021 to 2026 (USD Billion)
  31. U.K. Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  32. Germany Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  33. France Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  34. Italy Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  35. Spain Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  36. Asia Pacific Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  37. Asia Pacific Smartwatches Market, By Region, From 2021 to 2026 (USD Billion)
  38. Asia Pacific Head-mounted Displays​ Market, By Region, From 2021 to 2026 (USD Billion)
  39. Asia Pacific Smart Clothing Market, By Region, From 2021 to 2026 (USD Billion)
  40. Asia Pacific Ear Worn Market, By Region, From 2021 to 2026 (USD Billion)
  41. Asia Pacific Fitness Trackers​ Market, By Region, From 2021 to 2026 (USD Billion)
  42. Asia Pacific Body-worn Camera​ Market, By Region, From 2021 to 2026 (USD Billion)
  43. Asia Pacific Exoskeleton​ Market, By Region, From 2021 to 2026 (USD Billion)
  44. Asia Pacific Medical Devices Market, By Region, From 2021 to 2026 (USD Billion)
  45. Japan Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  46. China Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  47. India Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  48. Australia Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  49. South Korea Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  50. Latin America Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  51. Latin America Smartwatches Market, By Region, From 2021 to 2026 (USD Billion)
  52. Latin America Head-mounted Displays​ Market, By Region, From 2021 to 2026 (USD Billion)
  53. Latin America Smart Clothing Market, By Region, From 2021 to 2026 (USD Billion)
  54. Latin America Ear Worn Market, By Region, From 2021 to 2026 (USD Billion)
  55. Latin America Fitness Trackers​ Market, By Region, From 2021 to 2026 (USD Billion)
  56. Latin America Body-worn Camera​ Market, By Region, From 2021 to 2026 (USD Billion)
  57. Latin America Exoskeleton​ Market, By Region, From 2021 to 2026 (USD Billion)
  58. Latin America Medical Devices Market, By Region, From 2021 to 2026 (USD Billion)
  59. Brazil Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  60. Argentina Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  61. Mexico Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  62. Rest of Latin America Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  63. Middle East and Africa Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  64. Middle East and Africa Smartwatches Market, By Region, From 2021 to 2026 (USD Billion)
  65. Middle East and Africa Head-mounted Displays​ Market, By Region, From 2021 to 2026 (USD Billion)
  66. Middle East and Africa Smart Clothing Market, By Region, From 2021 to 2026 (USD Billion)
  67. Middle East and Africa Ear Worn Market, By Region, From 2021 to 2026 (USD Billion)
  68. Middle East and Africa Fitness Trackers​ Market, By Region, From 2021 to 2026 (USD Billion)
  69. Middle East and Africa Body-worn Camera​ Market, By Region, From 2021 to 2026 (USD Billion)
  70. Middle East and Africa Exoskeleton​ Market, By Region, From 2021 to 2026 (USD Billion)
  71. Middle East and Africa Medical Devices Market, By Region, From 2021 to 2026 (USD Billion)
  72. Middle East Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)
  73. Africa Smart Wearables Market, By Product, From 2021 to 2026 (USD Billion)

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