Growing Smartphone and Digital Device Adoption is a Major Factor Fueling the Demand for Wearable Electronics in the North America Market: Ken Research
GURUGRAM, India, July 13, 2022 /PRNewswire/ --
Key Findings
- Rising Penetration of Smartphones and Digital Devices are positively influencing an increase in the adoption of Wearable Electronics in North America.
- The Rising Consumer Awareness Regarding Health-Related Activities, notably after the COVID-19 pandemic, has resulted in an increase in the adoption of wearable electronic products as they typically help in fitness tracking and health monitoring.
- Technological advancements in digital devices aid in the analysis of real-time personal data that informs users about everything from their health to workouts, which strengthens the tech industry and drives demand for these devices.
Rising Penetration of Smartphones and Digital Devices: Technologies like Internet of Things (IoT) and Artificial Intelligence (AI) have altered how individuals use smartphones. The Internet of Things (IoT) transforms everything from manufacturing facilities to home appliances into a "smart" device or sensor, and technological advancements are driving increased adoption of smartphones and devices that can connect to them.
As per published industry estimate, the total U.S. smart phone penetration was around 80% of total population as of February 2021. Nowadays most mainstream wearable devices on the market are now paired with smartphones, raising demand for connected devices, including wearable electronics. The benefits associated with these wearable electronics, such as the ease of taking calls from a watch without a handset, are fueling demand for them.
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Growth in Technological Advancement: The innovations in consumer electronics are having a positive impact on the wearable tech industry. For instance, augmented reality (AR) and virtual reality (VR) technology in eyewear, artificial intelligence (AI) in ear-worn devices to improve hearing, and a variety of sensors in smart clothing to collect the wearer's biometric and physical data, such as body temperature and pulse rate, are propelling wearable electronics into multiple fields of the internet-connected culture.
Rising Consumer Awareness Regarding Health-Related Activities: Growing consumers' health awareness is a key factor driving the growth of the wearable electronics market. For instance, a smartwatch makes it possible to take the necessary precautions based on one's health in advance. Furthermore, doctors can easily monitor patient's health status remotely and maintain, prescribe, or treat them as needed.
An increasing number of people are using digital tools, such as smartwatches, smart shoes, smart eyewear's to identify major healthcare needs such as monitoring heart rate, tracking activity, and delivering reminders throughout the day, which is propelling the wearable electronics market.
Analysts at Ken Research in their latest publication "North America Wearable Electronics Market Outlook and Forecast to 2027 - Driven by Growing Smartphone & Digital Device Adoption, Technological Advancement, and Heightened Awareness of Health-Related Activities" believe that the Wearable Electronics market is expected to grow due to the rising adoption of smart electronics devices, and health tracking equipment's.
Key Segments Covered in North America Wearable Electronics Market:-
- · North America Wearable Electronics Market By Product
- Wrist Wear
- Ear Wear and Head Wear
- Eye Wear
- Foot Wear
- Neck Wear
- Body Wear and Smart Clothing
- North America Wearable Electronics Market By Components
- Networking and Positioning Components
- Power Supply Components
- Sensing Components
- Optoelectronic and Display Components
- Control Components
- Interface Components
- North America Wearable Electronics Market By Connectivity
- Near Field Communication (NFC)
- Cellular Network
- Bluetooth Technology
- Wi-Fi Network
- Other Connectivity Types
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- North America Wearable Electronics Market By Type of End User Industry
- Fitness and Sports & Tracker
- Healthcare
- Entertainment and Travel & Hospitality
- Industrial (Logistics & Manufacturing)
- Government (Defense, Security & Public Administration)
- North America Wearable Electronics Market By Geography and Major Countries:-
- U.S.
- Canada
- Mexico
Key Target Audience:-
- Wearable Electronics Products Manufacturers
- Consumer Electronics Products Manufacturers
- Wearable App Developers
- Raw Material Suppliers for Wearable Electronics Products
- Potential Investors in Wearable Electronics
- Wearable Electronics Distributors
- Wearable Electronics Advocacy Groups
Time Period Captured in the Report:-
- Historical Period: 2017-2021
- Forecast Period: 2022-2027F
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Major Wearable Electronics Product Companies in North America Mentioned in the Report:-
- Apple
- Garmin
- Fossil
- Huawei
- Samsung Electronics
- Sony
- LG Electronics
- Fitbit
- Nike
- Xiaomi
- Bose
Notable Emerging Wearable Electronics Product Companies in North America Mentioned in the Report:-
- Strong Arm Technologies
- Whoop
- Nextiles
- Nymi
- Muse
- Hexoskin
- ADES Technologies
- Machina
Key Topics Covered in the Report:-
Snapshot of North America Wearable Electronics Industry
Industry Value Chain and Ecosystem Analysis
Market Size and Segmentation of North America Wearable Electronics Market
Historic Growth of Overall North America Wearable Electronics Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of North America Wearable Electronics Industry
Overview, Product Offerings and SWOT Analysis of All the Key Competitors
Covid 19 Impact on the Overall North America Wearable Electronics Market
Future Market Forecast and Growth Rates of the Total North America Wearable Electronics Market and by Segments
Market Size of End User Industries with Historical CAGR and Future Forecasts
Analysis of North America Wearable Electronics Market in Major North American Countries
Major Production/Consumption Hubs in the Major Countries
Major Production/Supply and Consumption/Demand Hubs in Each Major Country
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging North America Wearable Electronics Companies within Each Major Country
U.S. Wearable Electronics Market
Covid-19 Impact U.S. Wearable Electronics Market
Canada Wearable Electronics Market
Covid-19 Impact Canada Wearable Electronics Industry
Mexico Wearable Electronics Market
Covid-19 Impact Mexico Wearable Electronics Industry
North America Consumer Electronics Market
North America Digital Devices Market
North America Smartphones Market
North America Healthcare Digital Devices Market
North America Digital Medical Equipment's Market
Canada Smart Health Wearable Equipment's Market
Canada Smart Healthcare Devices Market
North America Foot Wear Electronics Market
Canada Bluetooth Technology for Wearable Electronics Market
Artificial Intelligence (AI) Market North America
Machine Learning (ML) Market North America
Apple Wearable Electronics Market
Garmin Wearable Electronics Market
Fossil Wearable Electronics Market
Huawei Wearable Electronics Market
Samsung Electronics Wearable Electronic Market
Sony Wearable Electronics Market
LG Electronics Wearable Electronic Market
Fitbit Wearable Electronics Market
Nike Wearable Electronics Market
Xiaomi Wearable Electronics Market
Bose Wearable Electronics Market
Strong Arm Technologies Wearable Electronics Market
Whoop Wearable Electronics Market
Nextiles Wearable Electronics Market
For more information on the research report, refer to below link:-
North America Wearable Electronics Market
Related Report:-
The India Consumer Wearable industry has grown at a CAGR of 32.0% on the basis of revenue over the period 2015-2020. The young demographics and high disposable income in the country is one of the largest growth drivers of the industry. Continuous investment in research & development and marketing activities by the wearables manufacturers is positively impacting the industry's growth.
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249
Frequently Asked Questions:-
- What is the Study Period of this Market Report?
The North America Wearable Electronics Market is covered from 2017 – 2027 in this report, which includes a forecast for the period 2022-2027.
- What is the Future Growth Rate of North America Wearable Electronics Market?
The North America Wearable Electronics Market is expected to witness a CAGR of above 15% over the next 5 years.
- What are the Key Factors Driving the North America Wearable Electronics Market?
Rising number of millennial parents who are increasingly health conscious and adopting natural, minimally processed food is expected to be the primary driver of this market.
- Which is the Fastest Growing Product Segment within the North America Wearable Electronics Market?
Neck Wear is the fastest growing product segment within the North America Wearable Electronics Market.
- Who are the Key Players in North America Wearable Electronics Market?
Apple, Garmin, Fossil Group, Huawei, Samsung Electronics, Sony, LG Electronics, Fitbit Nike, Xiaomi and Bose are the major companies operating in North America Wearable Electronics Market.
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