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 g...