RationalStat Smart Wearables Market Analysis & Forecast During 2022-2028

The report titled “Smart Wearables Market” assesses the global and regional market on the basis of the operating system, end-user, product type, connectivity, application, sales channel, and region. A comprehensive report provides an in-depth historical and future market size with trend analysis. The report underlines the key characteristics, growth avenues, and strategic imperatives for the concerned stakeholders in the smart wearables market.

Market Overview and Dynamics

The smart wearables market is expected to grow at a CAGR of around 17%, during the forecast period of 2022-2028. Health awareness, well-being, and popularity of outdoor activities are some of the discerned factors influencing the global smart wearables market.

The global smart wearables market is predominantly driven by the significant sales of smartwatches and fitness trackers across the globe. The global sales of smart wearables are estimated at 240 million units in 2021 and are expected to surpass the volume of 500 million units by the end of 2028.

The introduction of wearable operating systems other than Apple and Google, and the growing shift toward wearable interfaces and analytics, are driving the market growth. Demand for smart wearables is driven mostly by new users attracted to devices that help keep track of necessary health measures and activity levels. Affluent markets offer considerable growth opportunities; however, the high price of smart wearables slows the adoption rate in emerging economies. Smart textiles (Fabrics), smart footwear, and smart gloves are expected to remain promising areas in the coming years.

In terms of the operating system, Wear OS and Watch OS dominate the global smart wearables with nearly 40% market share. On the basis of application segment, Fashion & Lifestyle and Fitness & Wellness together accounted for more than 50% market share in 2021. On the basis of region, North America, Asia Pacific, and Europe are expected to dominate the market. Online sales channel to remain the most preferred buying option during the forecast period.

Competition Analysis

The global smart wearables market observes intense competition against the backdrop of a presence of a large number of manufacturers. Nevertheless, Google and Apple dominate the prominent share of the global smart wearables market. Some of the leading players involved in the sales of smart wearables include Apple Inc., Google LLC, Sony Corporation, Garmin Ltd, Samsung Electronics Co. Ltd., Amazon, Fitbit, Under Armour, Fossil Group, Solos Technology Limited, Xiaomi, Huawei, Bose, Nuheara, Starkey, and BBK Group.

RationalStat

RationalStat has segmented the global smart wearables market by the operating system, end-user, product type, connectivity, application, sales channel, and region

• By Operating System

  • Wear OS
  • Watch OS
  • Tizen OS
  • Fitbit OS
  • Others (Asteroid OS, Free RTOS, Zepp OS, etc.)

• By End-User

  • Individual
  • Industrial and Commercial
    • Transportation
    • Military
    • Sports and Fitness
    • Healthcare
  • Others (Manufacturing, Fashion, etc.)

• By Product Type

  • Smartwatches
    • Basic Smartwatches
      • Cellular
      • Non-cellular
    • Advanced Smartwatches
      • Cellular
      • Non-cellular
  • Glasses
  • Wearable Cameras
  • Ear Wearables (Hearables)
  • Smart Clothes
  • Data Gloves
  • Footwear and Shoes
  • Fitness & Wellness Devices
  • Head-mounted Displays
  • Smart Jewellery
  • Health Wearables
    • Patient Gowns and Vests
    • Caps and Gloves
    • Auxiliary Wearables
  • Emerging Wearables (Pet Trackers, Child Trackers, etc.)

• By Connectivity

  • Wi-Fi
  • Cellular Data
  • Bluetooth
  • Near Field Communication

• By Application

  • Infotainment
  • Healthcare & Medical
  • Fashion & Lifestyle
  • Fitness & Wellness
  • Safety & Security
  • Auxiliary Applications

• By Sales Channel

  • Modern Retail
    • Online (e-commerce stores)
    • Offline
      • Hypermarkets
      • Supermarkets
      • Specialty and Discount Stores
    • Conventional Retail (Retail Stores)

• By Region

  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • Rest of Eastern Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • ASEAN (Indonesia, Vietnam, Malaysia, etc.)
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Turkey
    • Rest of the Middle East & Africa

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RationalStat is an end-to-end US-based market intelligence and consulting company. It provides comprehensive market research reports along with customized strategy and consulting studies.  The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

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