Global Smart Wearable Device Market to Grow at a CAGR of Over 16% through 2016-2024 Research Nester

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Global Smart Wearable Device Market to Grow at a
CAGR of Over 16 through 2016-2024 Research Nester
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Global Smart Wearable Device Market By Product
Type (Wearable Smart Textiles, Passive Smart
Textiles, Active Smart Textiles, Ultra-Smart
Textiles, Wearable devices (Non-Textile), Sport
Watches) By Function (Sensing, Energy Harvesting,
Luminescence and Aesthetics, Thermo-electricity)
By Application (Infotainment, Fitness Wellness,
Fashion Lifestyle, Safety Security,
Healthcare Medica) and Region - Global Forecast
to 2024 Smart wearable devices refer to the
incorporation of smart and advanced technologies
into wearable objects such as watch, jewelries
and others. Smart wearable devices include smart
watches, VR headsets, fitness trackers, smart
wrist bands, smart jewelries, sport watches,
implantable devices. In addition to this, future
of smart wearable devices is expected to be
bright due to increasing adoption of these
devices among consumers. Moreover, major players
such as Apple, Sony and Acer are producing such
smart wearable devices which are expected to lead
wearable technologies to another level in
future. Market Size Forecast Global smart
wearable devices market is anticipated to
flourish at a robust compound annual growth rate
(CAGR) of 16 during the forecast period. The
global smart wearable device market stood at
revenue around USD 16.2 Billion in year 2016 and
is expected to reach at a valuation around USD
52.5 Billion by the end of 2024.
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In terms of region, global smart wearable device
market is segmented into five major regions
including North America, Europe, Asia Pacific,
Latin America and Middle East Africa Region.
Among these regions, North America region is
dominating the global smart wearable device
market followed by Asia Pacific region. High
adoption rate of wearable technology and rising
consumers awareness towards wearable
technologies are some major factors which have
led the North America to leading position.
Further, North America is expected to behold this
position over the forecast period. Apart from
this, Europe region is also expected to witness a
remarkable growth during the forecast period due
to high adoption rate of wearable technologies
among consumers in this region. Rising
population and increasing disposable income of
consumers in Asia Pacific region are expected to
foster the growth of smart wearable device market
in Asia Pacific region. Additionally, inclination
of consumers towards wearable technologies in
Asia Pacific region is also expected to foster
the growth of Asia Pacific regional market over
the forecast period.
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Market Segmentation Our-in depth analysis of the
global smart wearable device market includes the
following segments By Region Global smart
wearable device market is further classified on
the basis of region as follows North America
(U.S. Canada) Market size, Y-O-Y growth
Opportunity Analysis. Latin America (Brazil,
Mexico, Rest of Latin America) Market size, Y-O-Y
growth Opportunity Analysis. Europe (U.K.,
Germany, France, Italy, Spain, Hungary, Belgium,
Netherlands Luxembourg, Rest of Europe) Market
size, Y-O-Y growth Opportunity Analysis.
Asia-Pacific (China, India, Japan, Singapore,
Australia, New Zealand, Rest of Asia) Market
size, Y-O-Y growth Opportunity Analysis. Middle
East and Africa (GCC, North Africa, South Africa
and Rest of Middle East) Market size, Y-O-Y
growth Opportunity Analysis.
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Growth Drivers Challenges Global smart wearable
device market growth is driven by rising
consumers awareness towards high technology
gadgets and high adoption rate of smart wearable
devices. Further, smart wearable devices offer
many applications which are attracting the
consumers towards them and this factor is
anticipated to propel the demand for smart
wearable devices in near future. Moreover, rising
adoption of wearable technologies in healthcare
and medical sector is driving the growth of
global smart wearable device market. These
factors are anticipated to spur the demand in
near future. Apart from this, implantable devices
are advanced wearable technologies which are
generally implanted under an individuals skin.
Further, rising application of these kinds of
technologies in healthcare medical sectors are
anticipated to drive the growth of global smart
wearable device market. Further, smart wearable
devices such as smart watch and smart jewelries
are highly sophisticated and fashionable. Rising
popularity of fashionable smart wearable devices
is expected to foster the growth of smart
wearable devices market globally.
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However, higher price of smart wearable devices
is a major challenge confronting the major market
players and is expected to restrain the growth of
global smart wearable device market.     Key
Players Apple Inc. Company Overview Key Product
Offerings Business Strategy SWOT
Analysis Financials Sony CorporationLG
Electronics Inc. Adidas Group Samsung
Electronics Co. Ltd. Fitbit Inc. Xiaomi
Technology Co. Ltd. Garmin Ltd. Alphabet Inc.
Misfit Inc. Jawbone Inc. Lifesense Group
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