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Tuesday, October 4, 2022

Wearables Market in the US: By Product and Distribution Channel | Market Size, Share & Trends Analysis Report | Segment Forecasts 2022-2026

  • Total Pages: 120
  • Companies: 10+ – Including Alphabet Inc., Apple Inc., Fossil Group Inc., Garmin Ltd., Huawei Investment and Holding Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Motorola Mobility LLC, Samsung Electronics Co. Ltd., and Sony Group Corp. among others.
  • Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
  • Segments: Product (smartwatches, wireless headphones, HMDs, smart bands, and others) and Distribution channel (online and offline)

The Wearables Market in US Share is expected to increase by USD 6.85 billion from 2021 to 2026, at an accelerated CAGR of 8.92% according to the recent market study by Technavio. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

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Vendor Insights-

The wearables market in the US is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

  • Alphabet Inc.- The company offers wearables such as Fitbit Sense, Fitbit Versa 3, and Fitbit Versa 2.
  • Fossil Group Inc.- The company offers wearables such as Gen 5, Gen 5E, Fossil Sport Smartwatch Black Silicone, GEN 6, and many more.
  • Garmin Ltd.- The company offers wearables such as Vivoactive, Venu, Forerunner, Instinct, Fenix, and many more.

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Segmentation Analysis & Forecasts

The wearables market share growth in the US by the smartwatches segment will be significant during the forecast period. The growth is attributed to the increase in demand for smartwatches in developing countries such as China, South Koreaand India owing to the substantial improvement in lifestyles and consumer preferences, especially among the middle-class population. This increase in watch production has increased the demand for smartwatches, which, in turn, has spurred the growth of the smartwatch market in the US.

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Latest Drivers & Trends Driving the Market-

  • Wearables Market in US Driver:
    • Growing preference for wearables electronic devices for payment:

Wearables electronic device manufacturers are integrating Near-field communication (NFC) technology as a standard into most devices to enable contactless payment by a direct tap and pay via a POS (point of sale) terminal. The rising popularity of this method is attributed to the growing adoption of contactless payment across the US. The growing adoption of contactless payment is increasing the number of partnerships among the market participants to facilitate the use of wearables electronic payment devices. Owing to the growing adoption of contactless payment through wearables electronic devices, vendors such as Apple Inc., Samsung Group, Garmin Ltd., and Xiaomi Inc. are increasingly integrating the contactless payment feature into their offerings, which is expected to positively impact the wearables market growth in the US during the forecast period.

  • Wearables Market in US Trend:
    • Integration of AI in wearable medical devices:

Technologies such as system-on-chip (SoC) and chip-scale package (CSP) enable manufacturers to shrink the size of wearable devices. Technological advancements such as 32-bit ARM architecture and wireless technologies, including ANT+ and Bluetooth low energy (BLE), are helping the manufacturers to design wearables medical devices that consume low power and have longer battery life. For instance, Quell, developed by NeuroMetrix, is the world’s first FDA-approved wearables medical device designed to reduce pain. It is lightweight, recommended by doctors, and provides relief from chronic pain without using any drugs. This will encourage other key vendors to introduce such products and integrate AI in wearable medical devices which will positively impact the growth of the market in focus during the forecast period.

Find additional information about various other market Drivers & Trends mentioned in our FREE SAMPLE REPORT,

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Wearables Market in US Scope

Report Coverage

Details

Page number

120

Base year

2021

forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 8.92%

Market growth 2022-2026

$ 6.85 billion

Market structure

Fragmented

YoY growth (%)

6.99

Regional analysis

US

Performing market contribution

US at 100%

Key consumer countries

US

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Alphabet Inc., Apple Inc., Fossil Group Inc., Garmin Ltd., Huawei Investment and Holding Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Motorola Mobility LLC, Samsung Electronics Co. Ltd., and Sony Group Corp.

Market Dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get customized segments.

Table of Contents

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2021
  • Market outlook: Forecast for 2021 – 2026

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Smartwatches – Market size and forecast 2021-2026
  • Wireless headphones – Market size and forecast 2021-2026
  • HMDs – Market size and forecast 2021-2026
  • Smart bands – Market size and forecast 2021-2026
  • Others – Market size and forecast 2021-2026
  • Market opportunity by Product

Market Segmentation by Distribution channel

  • Market segments
  • Comparison by Distribution channel
  • Online – Market size and forecast 2021-2026
  • Offline – Market size and forecast 2021-2026
  • Market opportunity by Distribution channel

Customer landscape

  • Customer landscape
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Alphabet Inc.
  • Apple Inc.
  • Fossil Group Inc.
  • Garmin Ltd.
  • Huawei Investment and Holding Co. Ltd.
  • Lenovo Group Ltd.
  • LG Electronics Inc.
  • Motorola Mobility LLC
  • Samsung Electronics Co. Ltd.
  • Sony Group Corp.

appendix

  • Scope of the report
  • Currency conversion rates for US$
  • research methodology
  • List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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