SHERIDAN, WY, USA, August 10, 2022 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “Wearable Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global wearable technology market size reached US$ 49.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 110.8 Billion by 2027, exhibiting a growth rate (CAGR) of 13.6% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The Saudi Arabia perfume industry is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the Saudi Arabia perfume market.
Wearable Technology Industry Overview and Application:
Wearable technology represents a category of electronic devices designed with advanced technological solutions that can be worn as accessories, embedded in clothing, or implanted in the body of user. They are available in numerous product types, such as wristwear, footwear, eyewear, neckwear, etc. These wearable technology-driven devices are hands-free gadgets powered by microprocessors and improved with the ability to send and receive data via the internet. They track real-time biometric information and provide immediate biofeedback to the wearer. Consequently, wearable technology-based instruments find extensive applications across several sectors, including consumer electronics, healthcare, fitness and wellness, defense, etc.
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Global Wearable Technology Market Trends and Drivers:
The expanding healthcare industry across the globe and the increasing consumer preferences for sleek and compact health and fitness devices are primarily driving the wearable technology market. Furthermore, the growing utilization of the technology to monitor the patients under intensive care and as prompt warning systems for virus infection is acting as another significant growth-inducing factor. Additionally, the development of innovative products integrated with the Internet of Things (IoT), artificial intelligence (AI), and virtual reality (VR) is also positively influencing the market growth. Apart from this, the elevating focus among leading manufacturers towards producing next generation displays and miniaturized sensors and the rising product usage by professional athletes and recreational fitness enthusiasts are expected to stimulate the wearable technology market in the coming years.
Global Wearable Technology Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
• Alphabet Inc
• Apple Inc.
• Garmin Ltd.
• HTC Corporation
• Huawei Technologies Co. Ltd
• Intel Corporation
• Microsoft Corporation
• Qualcomm Incorporated
• Samsung Electronics Co. Ltd.
• Sony Corporation
Wearable Technology Market Segmentation:
Wearable Technology Market by Product:
• Eye-Wear and Head-Wear
Wearable Technology Market by Application:
• Consumer Electronics
• Enterprise and Industrial Application
Wearable Technology Market by Region:
• North America
• Latin America
• Middle East and Africa
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Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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