Wearable Technology Market 2025 Trends: Expected to Grow at a CAGR of 12.8% from 2022 to 2031, Claims AMR

China is the major shareholder in the Asia-Pacific wearable technology market, accounting for more than 55% share in 2020.

WILMINGTON, DE, UNITED STATES, February 24, 2025 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Wearable Technology Market by Device (Fitness, Smart Watches, Smart Glasses, Smart Clothing, Others), by Product Type (Wrist Wear, Eyewear, Hearables, Neckwear, Bodywear, Others), by Application (Lifestyle, Consumer Applications, Entertainment, Healthcare, Fitness And Sports, Defense, Enterprise): Global Opportunity Analysis and Industry Forecast, 2020-2031".

According to the report, the global wearable technology industry was valued at $54.8 billion in 2020, and is registered to reach $184.4 billion by 2031, growing at a CAGR of 12.8% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐓𝐡𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐎𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/355

Prime determinants of growth

The growth of the global wearable technology market is driven by the entry of large players, portable and convenient usage, surge in healthcare awareness, and technological advancements. However, limited battery life and security concerns impede the market growth. On the other hand, technological advancement and a rise in awareness about the advantages of wearables present new opportunities for the market in the coming years.

The wrist wear segment to maintain its lead position during the forecast period

On the basis of product type, the wrist wear segment accounted for the largest share in 2020, contributing to nearly three-fourths of the global wearable technology market, and is expected to maintain its lead position during the forecast period. Various industry giants such as Apple, Pebble, and Motorola are launching products with the latest features and advancement in user interface (UI), which drives the market. Moreover, the body wear segment is anticipated to manifest the largest CAGR of 14.4% from 2022 to 2031, due to an array of advantages and convenient usage of smart clothing.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (196 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) @ https://www.alliedmarketresearch.com/checkout-final/8def2fb9748c1e1811feb30b2a61806d

The fitness segment to maintain its leadership status throughout the forecast period

On the basis of device, the fitness segment held the highest market share in 2020, accounting for more than two-fifths of the global wearable technology market, and is estimated to maintain its leadership status throughout the forecast period, owing to its wide usage for monitoring the overall health and fitness. However, the smart watches segment is projected to portray the highest CAGR of 14.1% from 2022 to 2031, due to various benefits over traditional watches which enables the user to place calls and text messages.

North America to maintain its dominance by 2030

Region-wise, North America held the highest market share in terms of revenue 2020, accounting for more than two-fifths of the global wearable technology market. This is attributed to rise in applications of wearable technology in medical & healthcare areas, lifestyle and defense sector in the North American region. However, the Asia-Pacific region is projected to grow with the fastest CAGR of 14.1% from 2022 to 2031. This is owing to various wearable technologies and rise in the demand for electronic devices for fitness & health improvement.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 @: https://www.alliedmarketresearch.com/purchase-enquiry/355

Leading Market Players: -
Nike Inc.
Garmin Ltd.
Adidas AG.
LG Electronics Inc.
Motorola Solutions Inc
Apple Inc.
Fitbit, Inc.
Samsung Electronics Co., Ltd.
Sony Corporation
Huawei Technologies Co., Ltd.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :
𝐒𝐮𝐛𝐦𝐚𝐫𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/submarine-market-A10675
𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 𝐁𝐞𝐚𝐫𝐢𝐧𝐠𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/aerospace-bearings-market-A14120
𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐀𝐯𝐢𝐨𝐧𝐢𝐜𝐬 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 https://www.alliedmarketresearch.com/commercial-avionics-systems-market

David Correa
Allied Market Research
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