According to the new market research report by IndustryARC titled “Wrist Wearable Devices Market: By Components (Power Supply, Sensing, Memory, Display); By-Products (Smart watches, Smart bands, Monitoring Devices, Fitness); By Applications (Lifestyle, Medical, Sports, Infotainment); By Geography(2018-2023)”, the market is driven by growing applications, technological advancements, leading to more number of features on the devices.
Americas dominates the Wrist Wearable Devices Market during the forecast period
Americas holds a major share in the Wrist Wearable Devices Market. The increasing sale of healthcare monitoring devices is the main driver of the market. Substantial growth in the infotainment devices market due to growing awareness about the product also drives the demand for wrist wearable devices in the region. US is the largest market in the region, followed by Canada and Brazil. The wrist wearable devices are used in fitness and sports, infotainment, healthcare, lifestyle, and industrial segments. Consumer electronics and smartphone manufacturers have also driven the awareness of these devices.
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The healthcare sector makes use of the wrist wearable devices in both remote and clinical healthcare to monitor healthcare, followed by information control. In Information control, the wrist wearable devices are used as information control equipment and are even remotely used in devices such as smartphones and tablets. The entertainment sector utilizes the devices to stream media content. Lifestyle and wellness involves the use of the devices to track daily activities such as distance, sleep, and calorie intake. In sports and fitness segment, the devices are used to check performance parameters.
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Excerpts on Market Growth Factors
• The fitness bands are used to track activities such as calories burnt, sleep quality, counting the number of steps. They can even track sports parameters such as rotations, maximum g forces, swimming strokes, paddles, air time, thereby improving the athlete's performance.
• Consumers are preferring wearable health devices to make themselves more aware about their daily life schedule. The devices can monitor important health parameters such as blood pressure, heart rate, and blood oxygen levels.
• Consumers want data to be at their fingertips that can be evaluated from different perspectives. People are becoming health conscious and are opting for luxury. Hence, manufacturers are developing the wrist wearable devices that cater to different enthusiasts such as sports, fitness, adventure, and health.
Key players of the Wrist Wearable Devices Market
The top players in the Wrist Wearable Devices Market are Fitbit, Jawbone UP, Nike, Basis Science, and Pebble Technology. Fitbit has launched products such as Charge, Charge HR, and Surge devices to get a foothold in the Wrist Wearable Devices Market. Jawbone launched UpMove activity tracker which is a cheap fitness tracker with increased smart coach features. Nike’s FuelBand SE has increased connectivity and tracking features. Basis Science launched Peak to gain a foothold in the fitness tracking devices market. It has sleep tracking features. Pebble launched Steel smartwatch which has advanced connectivity features.
A. Wearable Medical Devices Market
B. Printed and Flexible Electronics Market
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