The wearable tech industry was worth nearly $23bn in 2018 and will grow at a compound annual growth rate (CAGR) of 19% to reach $54bn by 2023, according to GlobalData forecasts.
That growth will be driven by sales of smartwatches, which are gaining in popularity as the range of features they offer (which now includes cellular connectivity, health monitoring, and contactless payment) increases. In contrast, the popularity of fitness trackers is waning, due to their limited capabilities when compared to smartwatches.
This report provides an overview of the global wearable tech market.
It identifies the key trends impacting growth of the sector over the next 12 to 24 months.
In includes a comprehensive industry analysis, outlining the key growth areas and potential use cases.
It identifies the best-positioned players in the wearable tech industry, across all segments of the value chain.
The report also includes a timeline charting the development of the wearable tech theme.
Apple is the dominant player in the smartwatches segment, thanks to the success of the Apple Watch, and also holds a strong position in the hearables segment, where AirPods are the market leader. Apple’s management team has boasted that the company’s wearables business is now the size of a Fortune 200 firm, even though the Apple Watch has only been around since 2015. Other well-positioned players across wearable tech include Huawei, Google, Samsung, and Xiaomi.
Reasons to buy
This report provides in-depth analysis of the global wearable tech market, highlighting the leading players across different segments of the value chain.
It provides growth forecasts by product types for the global wearable tech industry and information on merger and acquisition activity.
The device types discussed include smartwatches, smart glasses, fitness trackers, smart clothes, and hearables.
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