Global Wearable Electronics Market 2019-2023| 15% CAGR Projection over the Next Five Years| Technavio
LONDON--(BUSINESS WIRE)--Jan 14, 2020--
The wearable electronics market size is poised to grow by USD 35.67 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200113005994/en/
Technavio has announced its latest market research report titled global wearable electronics market 2019-2023. (Graphic: Business Wire)
Growing Internet penetration, rising mobile subscriber base, and the increasing number of IoT devices is driving digitization across developed and emerging economies. 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. The development of a mobile app ecosystem has also contributed to the increased preference for wearable electronic devices. These factors together are driving the global wearable electronics market which is poised to grow significantly during the forecast period.
To learn more about the global trends impacting the future of market research, download free sample: https://www.technavio.com/talk-to-us?report=IRTNTR31204
As per Technavio, the growing focus on the development of low-powered electronics will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Wearable electronics Market : Growing focus on the Development of Low-Powered Electronics
The growing popularity of wearable electronic devices such as smart bands, smart rings, smart watches, and HMDs is resulting in the rising need for high performance and low-power consumption electronics. As a result, companies are increasingly shifting from processors to new IMUs, which will help them enhance the performance of their wearable electronics. The usage pattern of wearable electronic devices is different from smartphones, due to which manufacturers have developed a new processor architecture with large, small, and tiny cores. The optimization of these processors increases their battery life, making them more reliable.
“Other factors such as the growing number of partnerships and M&A activities, development of miniaturized electronic components, and the emergence of hybrid smartwatch market will have a positive impact on the growth of the wearable electronics market value during the forecast period,” says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Wearable Electronics Market : Segmentation Analysis
This market research report segments the wearable electronics market by product (smartwatches, wireless headphones, HMDs, smart bands, smart glasses, smart rings, and smart clothing) and geographic regions (North America, APAC, Europe, South America, and MEA).
The North American region led the market in 2018, followed by Europe, Asia, and ROW respectively. The growth of the wearable electronics market share in North America can be attributed to the growing ecosystem of connected devices, constant technological advances, and the presence of large crowdfunding platforms such as Kickstarter and Indiegogo.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Five Forces Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200113005994/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 01/14/2020 02:00 AM/DISC: 01/14/2020 02:01 AM