What is the size of the wearables market?

USD 32.63 billion
Report Overview The global wearable technology market size was valued at USD 32.63 billion in 2019 and is projected to expand at a compound annual growth rate (CAGR) of 15.9% from 2020 to 2027.

How much is the wearables industry worth?

IDTechEx’s latest report on the topic has found that wearable technology products will be worth over $50bn in 2019. In fact, the total market size has doubled in size since 2014, placing wearables as one of the most consistently successful markets around consumer electronics in the last 5 years.

Is the wearable technology market growing?

The wearable technology market is projected to grow from USD 116.2 billion in 2021 to USD 265.4 billion by 2026; it is expected to grow at a CAGR of 18.0% from 2021 to 2026.

How big is the global medical device industry?

About Medical Device Market: In 2020, the global Medical Device market size was USD 309830 million and it is expected to reach USD 381190 million by the end of 2027, with a CAGR of 2.6% between 2021 and 2027.

What is the size of the market?

The “market size” is made up of the total number of potential buyers of a product or service within a given market, and the total revenue that these sales may generate. It’s important to calculate and understand market size for several reasons.

What is the most popular wearable device?

Wearable segments The most successful wearable devices on the market right now are smartwatches and health and fitness trackers, with the relative newcomer hearables taking over as the most dominant category.

What is the most common wearable technology?

Virtual reality (VR) headsets are the most common (and popular) form of wearables in the industry.

Who are the big players in wearable technology?

(US), Google LLC (US), Samsung Electronics Co., Ltd. (South Korea), Garmin Ltd. (Switzerland), LG(South Korea), Huawei(China), Sony Corporation(Japan), Xiaomi Corporation(China), and Microsoft (US) are the key players in the wearable technology market.

Is the medical device industry growing?

The global medical devices market in 2020 was valued at $456.9 billion, which is an increase at a compounded annual growth rate (CAGR) of 4.4% since 2015. Despite an expected decline of -3.2% in 2020, it is expected to rebound in 2021 with a 6.1% CAGR and reach $603.5 billion in 2023.

Why is the medical device industry growing?

The factors credited with the dominant position of the market are the presence of key players in the region, strong healthcare infrastructure, rapid adoption of advanced medical technologies, and favorable regulation surrounding the approval of these devices will boost the growth of the market during the forecast.

What is the size of the wearable technology market?

The Wearable Technology Market was valued at USD 27.91 billion in 2020 and is expected to reach USD 74.03 billion by 2026 and work at a CAGR of 17.65% over the forecast period (2021 – 2026). The wearable technology has evolved owing to the emergence of MEMS sensors.

Why are wearables important to the health industry?

Wearable devices enable a user to check health related content on their smart wearables. Obesity has become a major issue in many regions and therefore people are preferring wearable technology for checking the health and fitness related data. Get more information on this report : Request Sample Pages

Who are the major players in the wearables market?

The leading wearable vendors are Apple, Xiaomi, Huawei, and Samsung, with Apple holding the largest share of the market. Apple’s strong position in the wearable market has mainly been established by the Apple watch, creating dominance in the overall wearable industry.

Which is the most popular category of wearables?

The most successful wearable devices on the market right now are smartwatches and health and fitness trackers, with the relative newcomer hearables taking over as the most dominant category. In fact, over 397 million units of hearables are forecast to be shipped in 2024, dominating other types of wearables in the market.