Covid-19 Impact on Wearable Smart Device Market to Witness a Handsome Growth During 2022-28

  • Matt Easterlin

The wearable smart device market size was valued at USD 68.82 billion in 2021 and is likely to grow at a CAGR of 14.7% during 2022-2028 to reach USD 180.3 billion in 2028.

Stratview Research has published a new report titled “Wearable Smart Device Market” which is segmented by Device (Smart Watch, Wrist Bands, Medical Devices, Fitness Trackers, Sports Watches, Activity Monitors, and Others), Application (Identification & Tracking, Fitness & Wellness, Medical Diagnosis & Treatment, Safety & Security, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World). As per the study, the wearable smart device market size was valued at USD 68.82 billion in 2021 and is likely to grow at a CAGR of 14.7% during 2022-2028 to reach USD 180.3 billion in 2028.

Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.

The market is bifurcated into various segments. Below given is the segment-wise analysis –
Based on the application segment, the wearable smart devices market is segmented into identification & tracking, fitness & wellness, medical diagnosis & treatment, safety & security, and others. Fitness & wellness segment accounted for the largest market share in 2021 due to the rise in demand for healthy activities among consumers.

Which Region is expected to remain the largest market?
North America accounted for the largest market share of more than 33.33% in 2021, owing to the presence of well-established players in the market, and increase government expenditure on the healthcare industry coupled with advanced and well-developed healthcare infrastructure.
However, the Asia Pacific region is anticipated to witness the highest CAGR during the forecast period due to growing disposable income, and increasing government on healthcare in growing emerging economies such as China, and India.

Key questions answered by the report
- What is the projected CAGR for revenue from the Wearable Smart Device Market during the forecast period?
- What would be the market be valued at by 2027?
- What is a major driving factor for growth of the market?
- Which region accounted for largest revenue share in the Wearable Smart Device Market?
- Which are the major market players?

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Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with insightful market data to aid strategic decision making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.