CCS Insight has updated its outlook on the future of wearable tech indicating that 411 million smart wearable devices worth a staggering 34 billion will be sold in 2020. Wearable Devices Market - Global Opportunity Analysis and Industry Forecast 2019-2025 Wearable Devices Market Worth 6282 Billion by 2025.
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The wearables market is set to treble in size in the next five years and become worth over 25 billion according to industry analyst firm CCS Insight.
How much is the wearable technology industry worth?. The Industrial Wearable Devices Market. Wearable technology market has witness increased adoption owing to factors such as ease of use flexibility and convenience. Wearable Technology Market Overview.
10 2020 PRNewswire -- Wearable technology refers to electronic devices designed to be worn anywhere on the body for hands-free operations. Wearable Technology Market worth 568 billion by 2025 with a growing CAGR of 1128. And people are buying them.
This means that the market doubled in size since 2014. The growing popularity of the Internet of Things IoT and connected devices and rising technically sound population is expected to drive the demand. The wearable market has surged to a total value of over 50 billion doubling since 2014 according to a newly-released report from market research firm IDTechEx.
The wearable device market is due to be worth 52 billion 402 billion in 2020 as the popularity of smartwatches and headphones skyrockets. Everyday new wearable tech commonly referred to as wearables is released. Revenues earned in the wearables segment totaled 309 billion in 2018 which was a 53 increase over the year before for the US.
The Wearable Technology Market was valued at USD 2791 billion in 2020 and is expected to reach USD 7403 billion by 2026 and work at a CAGR of 1765 over the forecast period 2021 - 2026. Its new global forecast for wearable devices which includes smartwatches fitness trackers augmented and virtual reality headsets and wearable cameras indicates the market is set to grow from 84 million units in 2015 to 245 million units in 2019. Worldwide smart wearable device sales will double by 2022 becoming a 27 billion market with 233 million unit sales.
The wearable tech industry was worth nearly 23 billion in 2018 and is set to grow at a compound annual growth rate CAGR of 19 to reach 54 billion by 2023 according to GlobalData a data and analytics company. Important Wearable Technology Industry Statistics. The market is divided based on product type such as smartwatch head-mounted display smart clothing ear worn fitness trackers body worn camera exoskeleton and medical.
Thats the word according to industry analyst CCS Insight who state that the. A summary of the report shared by the research firm said it expects yearly revenue from global wearable technology to grow from nearly 23 billion in 2018 to 54 billion by 2023. The wearable technology industry is growing at an extremely rapid rate currently selling 14bn worth of wearables and expected to increase to 342bn by 2020.
Research study by Allied Market Research claims that by 2023 the market for global fitness trackers will reach 62128 million growing at the CAGR of 196. Smartwatches and smart clothing are set to see the most spending growth over the next year rising 34 per cent and 52 per cent respectively by 2020 according to the latest forecasts from Gartner. Wearable technology is an emerging trend that integrates electronics to the daily activities and fits into the changing lifestyles and can be worn on any part of the body.
The global wearable technology market size was valued at USD 3263 billion in 2019 and is projected to expand at a compound annual growth rate CAGR of 159 from 2020 to 2027. The analyst claims the. According to a recent report by IDTechEx the wearable technology market was worth over 50 billion in 2019.
The wearable technology has evolved owing to the emergence of MEMS sensors. Over the past few years. Wearable Technology Market size in 2015 was valued at 19633 million growing at CAGR of 162 to reach 57653 million by 2022.
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