Wearable Technology Market Analysis

Device (Smart Watches, Smart Glasses, Smart Clothing)

The smartwatches segment is slated to provide the most revenue by the end of 2037. The increased acceptance of smartwatches by a vast number of people can be ascribed to the segment’s rise. Globally, there were about 200 million smartwatch users in 2021. The number of users is predicted to grow in the future years, reaching approximately 230 million in 2026. Additionally, if users want to prolong the battery life of their phones, smartwatches are worthwhile. Smartphones could be used indirectly through the smartwatch to access all of its features.

Application (Entertainment, Healthcare, Fitness & Sports, Defense, Enterprise)

The fitness & sports segment in the wearable technology market is poised to increase considerably throughout the projection period. The segment’s expansion can be imparted to an increase in the awareness among people related to fitness, and new sports. In general, doing sports is a great approach to increasing overall fitness and health. When people regularly engage in sports, their metabolic rate rises, helping them burn more calories and aiding in weight loss. Hence, the demand for wearable technology is forecast to increase, in order to track the achievements and better healthcare quality management.

Our in-depth analysis of the global market includes the following segments: