Smart Wearable Devices Market Analysis

Product Type (Smartwatches, Head-Mounted Display, Smart Clothing, Ear-worn, Fitness tracker, Body-Worn Camera, Exoskeleton)

The smartwatches segment in the smart wearable devices market is estimated to gain a robust revenue share of 41% in the coming years owing to the reduced battery prices of smartwatches which can provide information such as fitness readings, notifications, alarms, and other features. HMD consists of a headset that features OLED or LCDs and lenses that can provide a virtual or augmented reality experience. Smart clothing provides health-related data and information, while Exoskeletons provide the user with enhanced strengths and flexibility capabilities, through mechanical and electrical means, either partially or fully.

Application (Infotainment, Healthcare, Fashion, Industrial, Fitness, Safety)

The Infotainment segment is set to garner a notable share shortly and will likely remain the largest segment in the application of the market. This segment allows users to access several entertainment services such as music streaming, video gameplay, and mobile calling. During the forecasted years, the healthcare segment is also estimated to increase at a great rate due to the rise in demand for health applications such as fitness tracking, calorie counting, heart rate, sleep monitoring, and other health-related metrics. In addition to this, safety features such as fall detection and emergency response play a huge role in the increase of this market globally.

Connectivity (Wi-fi, Cellular Data, Bluetooth, Near-Field)

The Wi-Fi-based connectivity segment in the smart wearable devices market is estimated to hold a noteworthy share as they can be connected to a local wi-fi network, providing internet access and cloud-based features. This helps in data sync, real-time tracking, and update features, providing timely information to the user. Moreover, approximately 2 out of every 5 people use public network every day. Cellular data connectivity allows the smart wearables to connect to a carrier network, providing access to features like music streaming, calling, and massaging. On the other side, Bluetooth allows for communication between the devices and the sharing of data, while Near-field-based connectivity uses ultra-field communication (NFC) technology, allowing the device to connect to other compatible devices, such as other wearables or phones.

End-User (Individual, Commercial, Industrial)

The individual segment is estimated to in the smart wearable devices market hold a noteworthy share as these product types are budget-friendly and can be afforded easily along with this, they provide convenience and wellness monitoring. Commercial and Industrial segments use this device mainly for monitoring and analysis, along with tracking inventory, equipment monitoring, and safety-providing features. This is expected to increase the size of the market in the forecasted period.

Our in-depth analysis of the global market includes the following segments: