Global Wearable Electronics Market to be Propelled by Use in In-home Care for Geriatric Population and Patients Suffering from Chronic Diseases World Wide by CAGR of 6% During 2023 – 2033

Kenneth Research published a report titled “Wearable Electronics Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global wearable electronics market in terms of market segmentation by product, application, technology, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global wearable electronics market is expected to hold a revenue of ~ USD 460 billion by 2033, growing from ~ USD 82 billion in 2022. The market growth can be attributed to the effective use of wearables in in-home care for the elderly population and patients with chronic diseases, the increased use of smartwatches, VR (virtual reality) and AR (augmented reality) headsets, and technologies, including near-field communication (NFC) and radio-frequency identification (RFID).

Detailed Description: https://www.kennethresearch.com/report-details/global-wearable-electronics-market-/10060063

The global wearable electronics market is expected to grow at a CAGR of approximately 20% from 2023-2033. The market is segmented by product into wrist-wear, eye-wear, body-wear, head-wear, and others. Of these, the wrist-wear segment is anticipated to hold the largest market share by the end of 2033, owing to the increasing smartwatch penetration worldwide for its real-time health data and use in various sectors.

The global wearable electronics market is divided into five major regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the Asia Pacific is projected to hold the largest market share by the end of 2033, backed by the growth of urbanization and tech-savvy population and the increase in the purchasing power of people in the region.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Effective Use of Wearables in the Care for Chronic Diseases to Boost the Market Growth     

More than 40 million people globally die from chronic diseases every year. Wearables are especially useful in the care for chronic diseases, as real-time data about a person’s health helps them to make changes in their in-home healthcare if they suffer from chronic diseases, including diabetes, cancer, heart diseases, and arthritis. Further, it helps doctors to monitor the health of their out-patients and decide on clinical trials and changes in treatment.

However, the temporary decline in the manufacturing of wearables, the poor battery life, and the failure to keep up with evolving technologies are expected to operate as key restraints to the growth of the global wearable electronics market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global wearable electronics market which includes company profiling of Apple Inc., Fitbit LLC, Google LLC, ADIDAS AG, Nike, Inc., Sony Group Corporation, Samsung Electronics America, Inc., Garmin Ltd., Sensoria Inc., LG Electronics, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global wearable electronics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.      

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