Wearables Market size in US is set to grow by USD 7,824.78 million from 2022 to 2027: The increasing focus on fitness and healthy lifestyle orientation to be a major market driver - Technavio

NEW YORK, June 19, 2023 /PRNewswire/ -- The wearables market size in the US is estimated to increase by USD 7,824.78 million from 2022 to 2027. The market is estimated to progress at a CAGR of 9.13%, according to a recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.

Find Technavio's Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

The wearables market in the US report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below -

adidas AG, Alphabet Inc., Anhui Huami Information Technology Co. Ltd., Apple Inc., ASUSTeK Computer Inc., Capri Holdings Ltd., Casio Computer Co. Ltd., Fossil Group Inc., Garmin Ltd., HTC Corp., Huawei Technologies Co. Ltd., LG Electronics Inc., Motorola Solutions Inc., Nike Inc., Samsung Electronics Co. Ltd., Sony Group Corp., TomTom NV, Withings France SA, Xiaomi Communications Co. Ltd., and Polar Electro Oy. Download a Sample Report!

Wearables Market in US: Segmentation Analysis

This wearables market report in the US extensively covers market segmentation by product type (smartwatches, wireless headphones, HMDs, smart bands, and others), and distribution channel (online and offline).

• The market share growth by the smart watches segment will be significant for the wearables market in the US during the forecast period. A smartwatch gives users quick access to a number of smartphone apps. The smart watches market is dominated by companies like Apple Inc. (Apple), Samsung Electronics Co. Ltd. (SAMSUNG ELECTRONICS), Sony Corp. (Sony), and Acer Inc. (Acer). Furthermore, the rise in partnerships between market vendors and market participants from various industries, including the IT industry, is one of the key factors boosting demand for smartwatches. Also, through these partnerships and collaborations, vendors can modernize their products with cutting-edge features and technologies while utilizing the technical know-how of other market participants to create cutting-edge products and increase market share. Hence, such factors drive segment growth, which leads to overall market growth during the forecast period.

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Wearables Market in US: Market Dynamics

Key Drivers

There is a rising focus on fitness and healthy lifestyle orientation, which drives the wearables market in US. The use of wearables offers a simple and convenient way to track physical activity, keep tabs on one's health, and reach fitness goals. As consumers have become extremely health conscious, using such products to achieve their fitness goals. Therefore, wearable fitness technology, such as fitness trackers and smartwatches, has become increasingly popular in recent years, with Fitbit, Garmin, and Apple dominating the market.

Apart from apps and other features that assist users in setting and achieving their fitness goals, these devices offer a variety of features, such as heart rate monitoring, step tracking, calorie counting, and sleep tracking. Hence, such factors boost the market growth during the forecast period.

Major Trends

The growing number of partnerships and M&A activities are significant trends shaping the wearables market in US. The wearables market in the US is still in its development phase and thus, the market vendors acquire other vendors that sell wearable technologies and form strategic alliances with other participants.

These partnerships and M&A activities allow vendors to create cutting-edge products by utilizing the technology and technical expertise of the market participants. Hence, trends such as mergers and acquisitions fuel the market growth during the forecast period.

Significant Challenges

The presence of counterfeit products poses a great threat to the growth of the wearables market in US during the forecast period. Well-known wearable products from major vendors such as Apple, Samsung Electronics, Fitbit, and Xiaomi, are available in abundance as counterfeit copies in the market. Since they are more popular with local consumers than other wearable electronic devices, smartwatches, and smart bands are the most counterfeited products in the market.

Also, due to the availability of these products through a variety of distribution channels, including brick-and-mortar stores, online retailers, and social media platforms, it is very challenging to gain control of the counterfeit market. Hence, such factors hinder the growth of the wearables market in the US during the forecast period.

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What are the key data covered in this wearables market in US report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the wearables market in US between 2023 and 2027
• Precise estimation of the size of the wearables market in US and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the wearables market across US
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of the wearables Market In US vendors

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Related Reports:

The wearables market is estimated to grow at a CAGR of 15.09% between 2022 and 2027. The size of the market is forecast to increase by USD 73,631.84 million. This report extensively covers market segmentation by product (smartwatches, wireless headphones, smart bands, and others), distribution channel (online and offline), and geography (North America, APAC, Europe, South America, and the Middle East and Africa). The growing preference for wearable devices for payment is notably driving the market growth.

The Internet of Things (IoT) enabled industrial wearables market is estimated to decline at a CAGR of 23.58% between 2022 and 2027. The size of the market is forecast to increase by USD 3,345.57 million. This report extensively covers market segmentation by product (hand-worn wearables, head-mounted wearables, and smart eyewear), end-user (automotive, manufacturing, aerospace, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The rise in digitalization and automation within industries is notably driving the market growth.

Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Product Type
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 11: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 12: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 13: Chart on US: Year-over-year growth 2022-2027 (%)
• Exhibit 14: Data Table on US: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Wearables market in US 2017 - 2021 
• Exhibit 15: Historic Market Size – Data Table on Wearables market in US 2017 - 2021 ($ million)

• 4.2 Product Type Segment Analysis 2017 - 2021
• Exhibit 16: Historic Market Size – Product Type Segment 2017 - 2021 ($ million)

• 4.3 Distribution Channel Segment Analysis 2017 - 2021
• Exhibit 17: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product Type

• 6.1 Market segments 
• Exhibit 25: Chart on Product Type - Market share 2022-2027 (%)
• Exhibit 26: Data Table on Product Type - Market share 2022-2027 (%)

• 6.2 Comparison by Product Type 
• Exhibit 27: Chart on Comparison by Product Type
• Exhibit 28: Data Table on Comparison by Product Type

• 6.3 Smart watches - Market size and forecast 2022-2027
• Exhibit 29: Chart on Smart watches - Market size and forecast 2022-2027 ($ million)
• Exhibit 30: Data Table on Smart watches - Market size and forecast 2022-2027 ($ million)
• Exhibit 31: Chart on Smart watches - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Smart watches - Year-over-year growth 2022-2027 (%)

• 6.4 Wireless headphones - Market size and forecast 2022-2027 
• Exhibit 33: Chart on Wireless headphones - Market size and forecast 2022-2027 ($ million)
• Exhibit 34: Data Table on Wireless headphones - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Chart on Wireless headphones - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Wireless headphones - Year-over-year growth 2022-2027 (%)

• 6.5 HMDs - Market size and forecast 2022-2027
• Exhibit 37: Chart on HMDs - Market size and forecast 2022-2027 ($ million)
• Exhibit 38: Data Table on HMDs - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Chart on HMDs - Year-over-year growth 2022-2027 (%)
• Exhibit 40: Data Table on HMDs - Year-over-year growth 2022-2027 (%)

• 6.6 Smart bands - Market size and forecast 2022-2027
• Exhibit 41: Chart on Smart bands - Market size and forecast 2022-2027 ($ million)
• Exhibit 42: Data Table on Smart bands - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Chart on Smart bands - Year-over-year growth 2022-2027 (%)
• Exhibit 44: Data Table on Smart bands - Year-over-year growth 2022-2027 (%)

• 6.7 Others - Market size and forecast 2022-2027
• Exhibit 45: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 46: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 48: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by Product Type 
• Exhibit 49: Market opportunity by Product Type ($ million)
• Exhibit 50: Data Table on Market opportunity by Product Type ($ million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments 
• Exhibit 51: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 53: Chart on Comparison by Distribution Channel
• Exhibit 54: Data Table on Comparison by Distribution Channel

• 7.3 Online - Market size and forecast 2022-2027
• Exhibit 55: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.4 Offline - Market size and forecast 2022-2027
• Exhibit 59: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel
• Exhibit 63: Market opportunity by Distribution Channel ($ million)
• Exhibit 64: Data Table on Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 65: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.1 Market drivers 

• 9.2 Market challenges 

• 9.3 Impact of drivers and challenges 
• Exhibit 66: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends 

10 Vendor Landscape

• 10.1 Overview 

• 10.2 Vendor landscape 
• Exhibit 67: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption 
• Exhibit 68: Overview on factors of disruption

• 10.4 Industry risks 
• Exhibit 69: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered 
• Exhibit 70: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 71: Matrix on vendor position and classification

• 11.3 adidas AG 
• Exhibit 72: adidas AG - Overview
• Exhibit 73: adidas AG - Business segments
• Exhibit 74: adidas AG - Key news
• Exhibit 75: adidas AG - Key offerings
• Exhibit 76: adidas AG - Segment focus

• 11.4 Alphabet Inc. 
• Exhibit 77: Alphabet Inc. - Overview
• Exhibit 78: Alphabet Inc. - Business segments
• Exhibit 79: Alphabet Inc. - Key news
• Exhibit 80: Alphabet Inc. - Key offerings
• Exhibit 81: Alphabet Inc. - Segment focus

• 11.5 Anhui Huami Information Technology Co. Ltd.
• Exhibit 82: Anhui Huami Information Technology Co. Ltd. - Overview
• Exhibit 83: Anhui Huami Information Technology Co. Ltd. - Business segments
• Exhibit 84: Anhui Huami Information Technology Co. Ltd. - Key offerings
• Exhibit 85: Anhui Huami Information Technology Co. Ltd. - Segment focus

• 11.6 Apple Inc. 
• Exhibit 86: Apple Inc. - Overview
• Exhibit 87: Apple Inc. - Business segments
• Exhibit 88: Apple Inc. - Key news
• Exhibit 89: Apple Inc. - Key offerings
• Exhibit 90: Apple Inc. - Segment focus

• 11.7 Casio Computer Co. Ltd. 
• Exhibit 91: Casio Computer Co. Ltd. - Overview
• Exhibit 92: Casio Computer Co. Ltd. - Business segments
• Exhibit 93: Casio Computer Co. Ltd. - Key news
• Exhibit 94: Casio Computer Co. Ltd. - Key offerings
• Exhibit 95: Casio Computer Co. Ltd. - Segment focus

• 11.8 Garmin Ltd. 
• Exhibit 96: Garmin Ltd. - Overview
• Exhibit 97: Garmin Ltd. - Business segments
• Exhibit 98: Garmin Ltd. - Key offerings
• Exhibit 99: Garmin Ltd. - Segment focus

• 11.9 HTC Corp. 
• Exhibit 100: HTC Corp. - Overview
• Exhibit 101: HTC Corp. - Product / Service
• Exhibit 102: HTC Corp. - Key offerings

• 11.10 Huawei Technologies Co. Ltd. 
• Exhibit 103: Huawei Technologies Co. Ltd. - Overview
• Exhibit 104: Huawei Technologies Co. Ltd. - Business segments
• Exhibit 105: Huawei Technologies Co. Ltd. - Key news
• Exhibit 106: Huawei Technologies Co. Ltd. - Key offerings
• Exhibit 107: Huawei Technologies Co. Ltd. - Segment focus

• 11.11 LG Electronics Inc. 
• Exhibit 108: LG Electronics Inc. - Overview
• Exhibit 109: LG Electronics Inc. - Product / Service
• Exhibit 110: LG Electronics Inc. - Key offerings

• 11.12 Motorola Solutions Inc. 
• Exhibit 111: Motorola Solutions Inc. - Overview
• Exhibit 112: Motorola Solutions Inc. - Business segments
• Exhibit 113: Motorola Solutions Inc. - Key offerings
• Exhibit 114: Motorola Solutions Inc. - Segment focus

• 11.13 Nike Inc. 
• Exhibit 115: Nike Inc. - Overview
• Exhibit 116: Nike Inc. - Business segments
• Exhibit 117: Nike Inc. - Key news
• Exhibit 118: Nike Inc. - Key offerings
• Exhibit 119: Nike Inc. - Segment focus

• 11.14 Polar Electro Oy 
• Exhibit 120: Polar Electro Oy - Overview
• Exhibit 121: Polar Electro Oy - Product / Service
• Exhibit 122: Polar Electro Oy - Key offerings

• 11.15 Samsung Electronics Co. Ltd. 
• Exhibit 123: Samsung Electronics Co. Ltd. - Overview
• Exhibit 124: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 125: Samsung Electronics Co. Ltd. - Key news
• Exhibit 126: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 127: Samsung Electronics Co. Ltd. - Segment focus

• 11.16 Sony Group Corp. 
• Exhibit 128: Sony Group Corp. - Overview
• Exhibit 129: Sony Group Corp. - Business segments
• Exhibit 130: Sony Group Corp. - Key news
• Exhibit 131: Sony Group Corp. - Key offerings
• Exhibit 132: Sony Group Corp. - Segment focus

• 11.17 Xiaomi Communications Co. Ltd. 
• Exhibit 133: Xiaomi Communications Co. Ltd. - Overview
• Exhibit 134: Xiaomi Communications Co. Ltd. - Business segments
• Exhibit 135: Xiaomi Communications Co. Ltd. - Key news
• Exhibit 136: Xiaomi Communications Co. Ltd. - Key offerings
• Exhibit 137: Xiaomi Communications Co. Ltd. - Segment focus

12 Appendix

• 12.1 Scope of the report 

• 12.2 Inclusions and exclusions checklist
• Exhibit 138: Inclusions checklist
• Exhibit 139: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 140: Currency conversion rates for US$

• 12.4 Research methodology 
• Exhibit 141: Research methodology
• Exhibit 142: Validation techniques employed for market sizing
• Exhibit 143: Information sources

• 12.5 List of abbreviations 
• Exhibit 144: List of abbreviations

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