Market Size & Forecast
Global smart wearable devices market is anticipated to flourish at a robust compound annual growth rate (CAGR) of 16% during the forecast period. The global smart wearable device market stood at revenue around USD 16.2 Billion in year 2016 and is expected to reach at a valuation around USD 52.5 Billion by the end of 2024.
In terms of region, global smart wearable device market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa Region. Among these regions, North America region is dominating the global smart wearable device market followed by Asia Pacific region. High adoption rate of wearable technology and rising consumer’s awareness towards wearable technologies are some major factors which have led the North America to leading position. Further, North America is expected to behold this position over the forecast period. Apart from this, Europe region is also expected to witness a remarkable growth during the forecast period due to high adoption rate of wearable technologies among consumers in this region.
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Rising population and increasing disposable income of consumers in Asia Pacific region are expected to foster the growth of smart wearable device market in Asia Pacific region. Additionally, inclination of consumers towards wearable technologies in Asia Pacific region is also expected to foster the growth of Asia Pacific regional market over the forecast period.
Market Segmentation
Our-in depth analysis of the global smart wearable device market includes the following segments:
By Region
Global smart wearable device market is further classified on the basis of region as follows: North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis. Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis. Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis. Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis. Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East) Market size, Y-O-Y growth & Opportunity Analysis.
Growth Drivers & Challenges
Global smart wearable device market growth is driven by rising consumer’s awareness towards high technology gadgets and high adoption rate of smart wearable devices. Further, smart wearable devices offer many applications which are attracting the consumers towards them and this factor is anticipated to propel the demand for smart wearable devices in near future. Moreover, rising adoption of wearable technologies in healthcare and medical sector is driving the growth of global smart wearable device market. These factors are anticipated to spur the demand in near future.
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Key Players
Apple Inc.Company Overview, Key Product Offerings, Business Strategy, SWOT Analysis, Financials, Sony CorporationLG Electronics Inc. Adidas Group,Samsung Electronics Co. Ltd., Fitbit Inc., Xiaomi Technology Co. Ltd.

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