Wearable computing market development, a major opportunity

wearable computing market

wearable computing market

Wearable Computing Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Technology (Computing Technologies, Display Technologies, Networking Technologies, Other); Product (smart clothes, watches, smart bands, smart glasses, etc.); Industry sector (defense and security, home automation, medicine and healthcare, enterprise and industry, fitness and wellness, media and entertainment, etc.) and geographyā€¯

Wearable computing is the technology inherent in wearable accessories such as wristbands, and watches to act as miniature electronic gadgets and facilitate easy access to technology. It is widely used for healthcare and media purposes. More than trendy accessories, these devices are gaining popularity due to smart and advanced features such as high portability and easy sync.

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Companies included in this report include: Adidas AG, Apple Inc. and Boston Scientific Corporation and Fitbit Inc. and Garmin Ltd. and LG Electronics Inc. (LG Corporation), Google, and Nike Inc. and Samsung and Sony Corporation

Market segmentation

On the basis of technology, the global wearable computing market is segmented into technology computing technologies, display technologies, networking technologies, and others.

On the basis of product, the market is segmented into smart apparel, watches, smart bands, smart glasses, and others.

Based on industry segment, the market is segmented into defense and security, home automation, medical and healthcare, enterprise and industrial, fitness and wellness, and media and entertainment, among others.

market dynamics

Drivers:

Increasing adoption of wearable gadgets like smart watches, smart clothes, wearable camera and activity monitor with advanced features like light weight, data monitoring, and improved portability are the factors driving the growth of the global wearable computing market.

Increasing inclination towards smart wearable devices presents a lot of lucrative opportunities for the global wearable computing market.

limitations

The higher cost and lower battery backups are holding back the sprawl of the wearable computing market.

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Impact of COVID-19 on the wearable computing market

COVID-19 first started in Wuhan (China) during December 2019 and since then has spread at a rapid pace across the world. The United States, India, Brazil, Russia, France, the United Kingdom, Turkey, Italy and Spain are among the hardest-hit countries in terms of confirmed cases and reported deaths. The COVID-19 virus has affected economies and industries in various countries due to lockdowns, travel bans and business closures. The closure of many factories and factories has affected global supply chains and negatively affected manufacturing, delivery schedules and product sales in the global market. Few companies have actually announced potential product delivery delays and declining future sales of their products. In addition, global travel bans imposed by countries in Europe, Asia Pacific and North America affect opportunities for cooperation and business partnerships.

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information about us:

Insight Partners is a single provider of industry research for action intelligence. We assist our clients in obtaining solutions to their research requirements through joint research and advisory services. We specialize in industries such as semiconductors, electronics, aerospace, defense, automotive, transportation, biotechnology, healthcare information technology, manufacturing and construction, medical devices, technology, media and communications, chemicals and materials.

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