By Spectrum Range
By Wearable Type
By Distribution Channel
By Country
By Spectrum Range
By Wearable Type
By Distribution Channel
By Country
By Spectrum Range
By Wearable Type
By Distribution Channel
By Country
By Spectrum Range
By Wearable Type
By Distribution Channel
By Country
Wearable Sun & Light Tracker Market size is estimated to reach USD 5 Billion by the end of 2035, growing at a CAGR of 19.1% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of wearable sun & light tracker was USD 531.5 million. The growth of the market can be attributed to the growing cases of skin cancer. Melanoma of the skin is the 17th most prevalent cancer in the world. It is the 13th most common male cancer and the 15th most common female cancer. Melanoma has a high scope of getting treated if detected in the early stages. The wearable sun and light tracker enables the user to monitor their exposure to UV rays and protect themselves from possible cancerous UV rays.
In addition to these, factors that are believed to fuel the market growth of wearable sun & light tracker is the rising depletion of the ozone layer. The Antarctic ozone hole reached its maximum size of 24.5 million km2 in late September 2022. The ozone layer depletion increases the penetration of UVB rays, which are harmful cancerous rays. With the growing levels of greenhouse gases, the ozone layer is rapidly depleting thus increasing the exposure of the population to these rays.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
|
CAGR |
19.1% |
|
Base Year Market Size (2022) |
USD 531.5 Million |
|
Forecast Year Market Size (2035) |
USD 5 Billion |
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Regional Scope |
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Spectrum Range {UVA (315-400 nm), UVB (280-315nm)}
The UVA (315-400 nm) segment in the wearable sun & light tracker market is estimated to gain the largest revenue share in the year 2035 by growing at a CAGR of 19.2% over the forecast period. The growth of the segment can be attributed to the much lengthier wavelengths of the UVA range, therefore its penetration is also deeper. UVA, which possesses a very long wavelength, is responsible for approximately 95% of UV light striking the Earth's outermost layer. It has the ability to penetrate deeper layers of skin and is responsible for the quick tanning effect.
Distribution Channel (Online, Offline)
Wearable sun & light tracker market from the online segment is expected to garner the highest revenue share in the year 2035, The segment is to grow at a CAGR of 19.3% over the forecast period. The emergence of the e-commerce sector and the rising trend of online shopping has made online the best distribution channel for the wearable sun and light tracker. Apart from this, a significant component is the company-owned website. Company-owned websites are ideal where manufacturers of wearable sun and light tracker items supply the product to prospective clients.
Our in-depth analysis of the global market includes the following segments:
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Spectrum Range |
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Wearable Type |
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Distribution Channel |
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North American Market Forecast
The wearable sun & light tracker market in North America is projected to gain the largest market share of USD 1.9 billion by the end of 2035. The market in the region is expected to grow at a CAGR of 19% over the forecast period. The growth of the market can be attributed majorly to the rising cases of melanoma in the region. According to the American Cancer Society, Inc., 97,610 new cases of melanoma are predicted to be discovered in the United States in 2023. Melanoma rates have been increasing rapidly in recent decades; however, this has differed with age. Although men's rates have stabilized, women's rates have kept on growing by around 1% per year between 2015 and 2019.
Europe Market Statistics
The European wearable sun & light tracker market is estimated to be the second largest, registering the market revenue of USD 1.6 billion by the end of 2035. The growth of the market can be attributed majorly to the growing demand for testing vitamin D levels. Based on a recent study, vitamin D testing has increased dramatically across Europe. According to the latest extensive observational data, around 13% of Europeans have severe vitamin D deficiency and 40% are vitamin D deficient. This has increased the need for constant monitoring of vitamin D among people.
Author Credits: Abhishek Verma, Hetal Singh
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