What is the Size of North America Wearable Electronics Industry?
North
America Wearable Electronics market is growing at a CAGR of ~% in
2017-2021P and is expected to reach ~USD Bn by 2027F. The major drivers for the
increase in adoption of Wearable Electronics in North America is Rising
Penetration of Smartphones and Digital Devices which are positively influencing an increase in the adoption of
connected devices/wearable electronics in North America. Rising Consumer
Awareness Regarding Health-Related Activities are prompting individuals for
using digital tools, such as smartwatches, smart shoes, smart eyewear's to
identify major healthcare needs, such as monitoring heart rate, tracking
activity, and delivering reminders throughout the day. Wearable technology
functionalities are reducing hospital visits for health problems, such as high
blood pressure and tachycardia as wearables allow them to keep track of their
health information without having to visit hospitals.
According to a
healthinsurance.com survey, heart health monitoring devices will become more
popular as more doctors embrace digital tools to track and treat chronic
illnesses. While doctors are generally thought to be less tech-savvy, 60%
of Medicare-eligible seniors say they have embraced technology more since the
pandemic. The user's privacy concerns owing to rising cyber threats and vulnerability
of digital devices in personal information protection is a challenge in growth
of this market.
North America Wearable Electronics market by Product
The Neck Wear segment in North America Wearable Electronics market is
growing at a fastest CAGR of ~% in 2017-2021 and is expected to reach ~USD Bn
by 2027F. The growth is majorly attributed by the increasing prevalence of
health issues such as spinal stenosis, herniated disc, and incorrect sleeping
posture that leads to severe neck pain.
According to the National Library of Medicine, the world's largest
medical library and operated by U.S. federal government, the prevalence of the
clinical symptoms of lumbar spinal stenosis in US adults is approximately 11%
and tends to increase with age.
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Following the Neck Wear segment, the Eye Wear segment will experience
significant growth during the forecasted period, owing to the growing demand
for health monitoring devices in the healthcare industry, particularly
following the COVID-19 pandemic, is driving demand for Eye Wear.
Smart glass technology trends have also evolved immensely where the
manufacturers now offering a variety of smart glasses styles, use cases, and features
across multiple industry, including Automotive, Healthcare, and Industrial.
North America Wearable Electronics market by Components
The Power Supply Components in North America Wearable electronics market
is growing at a fastest CAGR of ~% in 2017-2021 and is expected to reach ~USD
Bn by 2027F. The increasing adoption of consumer electronics and medical
devices, which necessitate an adequate power supply is driving the demand for Power
Supply Components.
Furthermore, the rising demand for AC-DC and DC-DC power supplies with
appropriate output voltage in devices, such as home lighting, wearable fitness
devices, street lighting, health monitoring devices, and consumer electronics
products is also fueling their demand.
The growing demand for optical solutions in the healthcare &
automotive industries, smart consumer electronics devices, and the escalating
necessity of durable and low power consuming components has accelerated the
demand for Optoelectronic and Display Components.
Key
Segments Covered in North America Wearable Electronics Market:-
North
America Wearable Electronics Market By Product
Wrist Wear
Ear Wear and Head Wear
Eye Wear
Foot Wear
Neck Wear
Body Wear and Smart
Clothing
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North
America Wearable Electronics Market By Components
Networking and
Positioning Components
Power Supply Components
Sensing Components
Optoelectronic and
Display Components
Control Components
Interface Components
North
America Wearable Electronics Market By Connectivity
Near Field
Communication (NFC)
Cellular Network
Bluetooth Technology
Wi-Fi Network
Other Connectivity
Types
North America
Wearable Electronics Market By Type of
End User Industry
Fitness and Sports
& Tracker
Healthcare
Entertainment and Travel
& Hospitality
Industrial (Logistics
& manufacturing)
Government (Defense,
Security, and Public Administration)
North America Wearable Electronics Market By Geography and Major Countries:-
U.S.
Canada
Mexico
Key Target
Audience:-
Wearable Electronics Products Manufacturers
Consumer Electronics Products Manufacturers
Wearable App Developers
Raw Material Suppliers for Wearable Electronics Products
Potential Investors in Wearable Electronics
Wearable Electronics Distributors
Wearable Electronics Advocacy Groups
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Time Period
Captured in the Report:-
Historical Period: 2017-2021
Forecast Period: 2022-2027F
Companies Mentioned:-
Key Competitors in
North America Wearable Electronics Market
Apple
Garmin
Fossil
Huawei
Samsung Electronics
Sony
LG Electronics
Fitbit
Nike
Xiaomi
Bose
Emerging Wearable
Electronics Companies in North America
Strong Arm Technologies
Whoop
Nextiles
Nymi
Muse
Hexoskin
ADES Technologies
Machina
Key Topics
Covered in the Report:-
Snapshot of North
America Wearable Electronics Industry
Industry
Value Chain and Ecosystem Analysis
Market Size
and Segmentation of North America Wearable Electronics Market
Historic
Growth of Overall North America Wearable Electronics Market and Segments
Competition
Scenario of the Market and Key Developments of Competitors
Porter’s 5
Forces Analysis of North America Wearable Electronics Industry
Overview,
Product Offerings and SWOT Analysis of All the Key Competitors
Covid 19
Impact on the Overall North America Wearable Electronics Market
Future
Market Forecast and Growth Rates of the Total North America Wearable
Electronics Market and by Segments
Market Size
of End User Industries with Historical CAGR and Future Forecasts
Analysis of
North America Wearable Electronics Market in Major North American Countries
Major
Production/Consumption Hubs in the Major Countries
Major
Production/Supply and Consumption/Demand Hubs in Each Major Country
Major
Country-wise Historic and Future Market Growth Rates of the Total Market and
Segments
Overview of
Notable Emerging North America Wearable Electronics Companies within Each Major
Country
For more information on the research report,
refer to below link:-
North America Wearable
Electronics Market
Related Report:-
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Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
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Frequently Asked Questions:-
What is the Study Period of this Market Report?
The North America Wearable Electronics Market is covered
from 2017 – 2027 in this report, which includes a forecast for the period
2022-2027.
What is the Future Growth Rate of North America Wearable Electronics Market?
The North America Wearable Electronics Market is expected
to witness a CAGR of above 15% over the next 5 years.
What are the Key Factors Driving the North America Wearable Electronics
Market?
Rising number of millennial parents who are
increasingly health conscious and adopting natural, minimally processed food is
expected to be the primary driver of this market.
Which is the Fastest Growing Product Segment within the North America Wearable
Electronics Market?
Neck Wear is the fastest growing product segment
within the North America Wearable Electronics Market.
Who are the Key Players in North America Wearable Electronics Market?
Apple, Garmin, Fossil Group, Huawei, Samsung
Electronics, Sony, LG Electronics, Fitbit
Nike, Xiaomi and Bose are the major companies
operating in North America Wearable Electronics Market.
