Growing At A CAGR Of Over 15%, Wearable Technology Market Is Anticipated To Reach USD 50 Billion By 2027

Global wearable technology market is anticipated to reach USD 50 billion by 2027, growing at a CAGR of over 15% during the forecast period, due to the increasing customer preference for sophisticated devices and soaring popularity of IoT and connected devices. Products in the wearable technology market are registering technological advancements with the incorporation of miniature sensors, cloud technology, machine learning, etc., which is positively influencing the market growth over the coming years.

Based on the product, wrist wear segment, which include smart watches and wristbands, is anticipated to dominate the market during the forecast period due to elevating demand for fitness and healthcare. In terms of application, the market has been segmented into consumer electronics, enterprise & industrial and healthcare. The healthcare segment is anticipated to grow at the highest rate during the forecast period owing to various offerings of wearable technology such as continuous glucose monitoring, drug delivery monitoring, etc. Moreover, increasing cases of chronic diseases such as diabetes are further escalating the application of wearable technology in healthcare. Regionally, North America is the leading region in the global wearable technology market due to technological advancements coupled with rising demand for connected devices.

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The major players operating in the wearable technology market are Xiaomi Technology Co., Ltd, Samsung Electronics Co., Ltd., Alphabet, Inc., Qualcomm Technologies, Inc., Guangdong Bbk Electronics Co., Ltd, Lifesense Group B.V., Huawei Technologies Co., Ltd., Motorola Solutions Inc., Adidas Group, Apple, Inc. and others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions, partnership, agreements in order to expand their geographic reach and to increase their customer basis.

Objective of the Study:

  • To analyze and estimate the market size of global wearable technology market from 2017 to 2020.
  • To estimate and forecast the market size of global wearable technology market from 2021 to 2027 and growth rate until 2027.
  • To classify and forecast global wearable technology market based on component, product, technology, application, company and regional distribution.
  • To identify dominant region or segment in the global wearable technology market.
  • To identify drivers and challenges for global wearable technology market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global wearable technology market.
  • To conduct pricing analysis for global wearable technology market.
  • To identify and analyze the profile of leading players operating in global wearable technology market.
  • To identify key sustainable strategies adopted by market players in global wearable technology market.


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers and presence of all major players across the globe.

TechSci Research calculated the market size of global wearable technology market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Wearable technology manufacturers
  • Market research and consulting firms
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums and alliances related to Wearable Technology

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

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Mr. Ken Mathews

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Email: sales@techsciresearch.com

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