Wearable Computing: Technologies, Applications and Global Markets
Report Highlights
The global market for wearable computing should grow from $80.5 billion in 2021 to $255.8 billion by 2026 with a compound annual growth rate (CAGR) of 26.0% for the period of 2021-2026.
Report Includes
- 45 data tables and 35 additional tables
- An up-to-date overview of the global markets for wearable computing technologies and applications
- Analyses of the global market trends, with data from 2020 and 2021, estimates for 2022 and 2024, and projections of compound annual growth rates (CAGRs) through 2026
- Highlights the current and future market potential of wearable computing products and technologies, along with a detailed analysis of the drivers, challenges, and opportunities in the market
- Market outlook and forecast the global market size for wearable computing, and corresponding market share analysis by product type, technology, application, end user, and region
- Understand the upcoming market opportunities and areas of focus to forecasting the market into various segments and sub-segments
- In-depth information on R&D investment, key technology issues, industry specific challenges, major types of end-user markets, and the impact on wearable computing device sales
- Insight into recent industry structure, current competitive scenario, new product launch, and company value share analysis based on their segmental revenues
- Descriptive company profiles of the leading global players, including Apple Inc., Alphabet Inc., Fitbit Inc., Huawei Technologies Co. Ltd., Samsung Electronics Co. Ltd., and Xiaomi
Report Scope
The study includes detailed analysis of key trends and geographic information regarding the wearable computing market and its various segments. It also emphasizes the provision of global market sizes, compounded annual growth rates (CAGR), and revenue prospects for various segments and sub-segments through 2026. Wearable computing’s core market segment is comprised of product types that include smartwatches, fitness trackers or bands, smart eyewear and headsets, medical and health monitoring devices, smart clothing, and other devices (wearable cameras, body sensors and smart headphones).
This wearable computing report does not include the IT vendors or market size for software or applications (apps) used to support functioning of such devices. However, the product type segment covers only basic and smart devices that function based on the following technical attributes:
- Operating system (OS): Android, Wear OS by Google, Glass OS by Google, RTOS, Windows, Apple’s Watch OS, etc.
- Technical attributes: External speaker, GPS, heart rate sensor, megapixels, microphone, skin and body temp sensor, touchscreen, UV sensor, and waterproofing.
- Connectivity: Bluetooth, Wi-Fi, NFC, and 3G/4G.
- Operation mode: Tethered, stand-alone, and both.
More specifically, the market analysis conducted by BCC Research for this report is divided into five sections.
In the first section, an introduction to the topic and a historical review of wearable computing are provided, including an outline of recent events. This section identifies wearable devices that are currently commercially available or emerging and offers a description of the main types.
The second section provides the type of users who adopt wearable devices. This section concludes with an analysis of the most important users since 2020, including industrial and non-industrial users. The wearable computing market is further segmented based on its adoption among end-user type including consumers and commercial or industrial users. The chapter ends with a highlight of the key users adopting smart wearable devices across multiple applications.
The third section entails a global market analysis of technology for wearable devices. Global revenues (sales data in millions of dollars) are presented for each segment (computing, display and networking) with actual data for 2020 and 2021 and estimates for 2026. Dollar figures refer to revenue of type of technology adopted by multiple application.
The analysis of current revenues for wearable computing is followed by a detailed presentation of market growth trends, based on industry growth, technological trends and regional trends. The third section concludes by providing projected revenues for wearable computing within each segment, together with forecast compound annual growth rates (CAGRs) for the period 2021 through 2026. Projected and forecast revenue values are in constant U.S. dollars, unadjusted for inflation.
In the fourth section of the study, which covers global connectivity structure, the report offers types of connectivity being utilized for wearable computing, together with a description of their devices. The analysis includes a description of the geographical distribution of this connectivity and an evaluation of other key industry players. Detailed company profiles of the top players are also provided.
The fifth and final section includes application areas including fitness and wellness (self-monitoring devices), gaming and infotainment, healthcare and medical, lifestyle, defense and security, enterprise and industrial, and other applications. The scope of the study also includes major application areas of wearable computing, for example, all the segments of the market have been analyzed globally across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
The report also provides company profile and competitive analyses of key wearable computing vendors holding the largest share of the market. Companies include Apple Inc., Alphabet Inc., Fitbit Inc., Garmin Ltd., Huawei Technologies Co. Ltd., LG Electronics, Samsung Electronics Co. Ltd., Sony Corp., and Xiaomi.
Frequently Asked Questions (FAQs)
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
Report Synopsis
| Report Metrics | Details |
| Base year considered | 2020 |
| Forecast period considered | 2021-2026 |
| Base year market size | $66.2 billion |
| Market size forecast | $255.8 billion |
| Growth rate | CAGR of 26.0% for the forecast period of 2021-2026 |
| Units considered | $ Millions |
| Segments covered | product type, user type, technology, connectivity, application, and region |
| Regions covered | North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa |
| Countries covered | U.S., Canada, U.K., Germany, France, China, Japan, India, Brazil, and Mexico |
| Key Market Drivers |
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| Companies studied |
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Report Highlights
The global wearable computing market reached nearly $19.7 billion in 2017 and should reach $82.3 billion by 2023, at a compound annual growth rate (CAGR) of 28.3% for the period of 2018-2023.
Report Includes
- 29 data tables and 25 additional tables
- Detailed industry analysis of the global markets for wearable computing technologies and applications
- Analyses of global market trends, with data from 2017, estimates for 2018 and projections of compound annual growth rates (CAGRs) through 2023
- Identification and evaluation of recent technological developments, growth driving factors, industry challenges and market trends in the global wearable computing market
- Assess global market and revenue estimation for wearable computing technology by geographical regions, product types, application areas, organization size and verticals, and end user industries
- Patent evaluation, including coverage of the current state of technology, new patent applications, and newly issued patents
- Company profiles of major key players in the market, including Alphabet, Inc., Apple Inc., Sony Corp., Samsung Electronics, Seiko Epson Corp., Vuzix Corp., LG Corp., and Xiaomi Inc.
Report Highlights
The global wearable computing market will grow from $16.9 billion in 2015 to $22.6 billion in 2016 and should reach more than $171.2 billion in 2021, with a compound annual growth rate (CAGR) of 50%.
Report Includes
- An overview of the global markets for wearable computing technologies and applications.
- Analyses of global market trends, with data from 2015, estimates for 2016 and projections of compound annual growth rates (CAGRs) through 2021.
- Discussion of recent technological advances in materials sciences, electronics, photonics and software that are enabling a potentially vast range of new lightweight, wearable computing products to emerge.
- Examination of the consumer markets (wearable cameras, sports and activity trackers, smart clothing and textiles, smart glasses, smart watches, entertainment and gaming) and nonconsumer markets (healthcare, defense and aerospace, enterprise and industrial, and warehouse and logistics).
- Patent evaluation, including coverage of the current state of technology, new patent applications, and newly issued patents.
- Profiles of major players in the industry
Report Highlights
The global wearable computing market will grow at a compound annual growth rate (CAGR) of 43.4% from around $5 billion forecast for 2013 to $9.2 billion in 2014 and more than $30.2 billion forecast for 2018.
Report Includes
- An overview of the global market for wearable computing products.
- Analyses of global market trends, with data from 2012, estimates for 2013 and 2014, and projections of compound annual growth rates (CAGRs) through 2018.
- Discussion of recent technological advances in materials sciences, electronics, photonics and software that are enabling a potentially vast range of new lightweight, wearable computing products to emerge.
- Examination of the consumer markets (wearable cameras, sports and activity trackers, smart clothing and textiles, smart glasses, smart watches, entertainment and gaming) and nonconsumer markets (healthcare, defense and aerospace, enterprise and industrial, and warehouse and logistics).
- Patent evaluation, including coverage of the current state of technology, new patent applications, and newly issued patents.