Global Wearable Electronics Market 2019-2023| Evolving Opportunities with Apple Inc. and Fitbit, Inc. |Technavio

The global wearable electronics market size is poised to grow by USD 35.67 billion during 2019-2023, according to a new report by Technavio. Request Free Sample Pages

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Technavio has announced its latest market research report titled global wearable electronics market 2019-2023. (Graphic: Business Wire)

Read the 154-page research report with TOC on "Wearable electronics Market Analysis Report by product (smartwatches, wireless headphones, HMDs, smart bands, smart clothing, smart glasses, and smart rings), end user (enterprise and consumers), and geography (APAC, Europe, MEA, North America, and South America).

The market is driven by increasing digitization of the global economy. Also, the growing focus on the development of low-powered electronics is anticipated to boost the growth of the wearable electronics market.

The increasing digitization of the global economy is expected to drive the growth of the wearable electronics market. Growing Internet penetration, increasing mobile subscriber base, and a rising number of IoT devices across the developed and emerging economies across the world have resulted in a surge in digitization. As a result, there has been a substantial increase in the integration of advanced technologies such as AI, VR, and contactless payments into wearable electronics devices. This is resulting in the rising demand for wearable electronic devices. Apart from these factors, the development of a mobile app ecosystem will also play a vital role in the growth of the market during the forecast period.

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Major Five Wearable Electronics Companies:

Apple Inc.

Apple Inc. has product offerings in various categories, including smartphones, smartwatches, and other electronic products. The company’s latest offerings include Apple Watch Series 4, which has an Apple S4 chipset and is also equipped with 16GB storage.

Fitbit, Inc.

Fitbit, Inc. is engaged in the production of wireless-enabled and wearable fitness devices. The company’s latest offerings include Fitbit Ionic, a smartwatch with a built-in GPS and heart monitor. It helps in wallet-free payment and provides access to mobile apps. Fitbit Charge 3 is another product in the wearable electronics market.

Garmin Ltd.

Garmin Ltd. has business operations under various segments, which include auto, aviation, marine, outdoor, and fitness. Some of the company’s key offerings in the wearables electronics segment include Approach S40 and vivofit4.

SAMSUNG ELECTRONICS Co., LTD

SAMSUNG ELECTRONICS Co., LTD is one of the most dominating companies in the smartphone market. The company operates under four segments, namely CE, IM, DS, and Harman. Some of the company’s latest offerings include Gear Fit2 Pro and Galaxy Watch.

Xiaomi

Xiaomi operates business under various segments, which include smartphones, IoT and lifestyle products, Internet services, and others. The company’s latest offerings include Mi Band3, which is a smart band equipped with features such as heart rate and sleep monitors.

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Wearable Electronics Product Outlook (Revenue, USD Million, 2019 - 2023)

• Smartwatches
• Wireless headphones
• HMDs
• Smart bands
• Smart clothing
• Smart glasses
• Smart rings

Wearable Electronics Regional Outlook (Revenue, USD Million, 2019 - 2023)

• APAC
• Europe
• MEA
• North America
• South America

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Related Reports on Information Technology are:

Smartwatch Market– Smartwatch Market by type (integrated and standalone), OS (watchOS, Tizen, Wear OS, and others), and geography (APAC, Europe, MEA, North America, and South America).

Wearable Display Market– Wearable Display Market by product (OLED display, TFT LCD, and MicroLED display) and geography (the Americas, APAC, and EMEA).

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View source version on businesswire.com: https://www.businesswire.com/news/home/20191023005587/en/