Global Smart Wearables Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

17 Nov, 2021

The smart wearables market consists of sales of smart wearable devices and related services for tracking vital pieces of data related to the health and fitness of the human body. Smart wearables are any form of an electronic device intended to be worn on the human body.

Global Smart Wearables Market Size And Drivers:

The global smart wearable market is expected grow from $14.93 billion in 2020 to $17.35 billion in 2021 at a compound annual growth rate (CAGR) of 16.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smart wearables market is expected to reach $30.88 billion in 2025 at a CAGR of 16%. The increasing demand for wireless sports and fitness devices is projected to drive the smart wearables market.

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Trends In The Global Smart Wearables Market

The use of smart rings is a key trend shaping the growth of the smart wearables market. A smart ring is a wearable electronic device equipped with mobile devices such as sensors and NFC chips that are used as a peripheral tool to assist mobile devices for a variety of purposes, often monitoring everyday tasks. For example, in September 2019, Amazon introduced the Echo Loop Smart Ring with the intention of keeping Alexa on finger. The Echo Loop Smart Ring vibrates to alert users to notifications, while built-in microphones and speakers will be enabled to communicate with Alexa.

Global Smart Wearables Market Segments:
The global smart wearables market is further segmented –
By Devices: Smart Watches, Smart Glasses, Fitness & Wellness Devices, Smart Clothing, Others
By Application: Lifestyle, Healthcare, Consumer Applications, Defense, Fitness & Sports, Enterprise & Industrial.
By Geography: The global smart wearables market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Read More On The Report For The Global Smart Wearables Market At:

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Smart Wearables Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides smart wearables market overviews, analyzes and forecasts market size and growth for the global smart wearables market, smart wearables market share, smart wearables market players, smart wearables market segments and geographies, smart wearables market’s leading competitors’ revenues, profiles and market shares. The smart wearables market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.