Global Wearable Technology Market Growth Accelerated By An Increased Focus On Healthcare Wearables

According to the latest report by IMARC Group, titled “Wearable Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global wearable technology market exhibited strong growth during 2015-2020.

Looking forward, IMARC Group expects the global wearable technology market to grow at a CAGR of around 16% during the forecast period (2021-2026).We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries.

These observations will be integrated into the report.Request Free Report Sample:https://www.imarcgroup.com/wearable-technology-market/requestsampleWearable technology is an advanced technological solution integrated into electronic devices or gadgets worn on the body for tracking real-time biometric information.

They enable the wearer to track heart rate, pulse rate, steps taken, sleep hours, etc., with hands-free operations using microprocessors and sensors as information receptors.The growing healthcare industry across the globe is one of the key factors driving the wearable technology market.

Moreover, increasing consumer preferences towards sleek and compact health and fitness devices are also bolstering the product demand.

Furthermore, due to the ongoing COVID-19 pandemic, the requirement for wearable devices is witnessing a significant increase across healthcare centers.

The Wearable Fitness Technology Market is expected to be worth USD 12.44 billion by 2022, growing at a CAGR of 13.7% during the forecast period.

Some of the major growth drivers for this market would be consumer preference for smart gadgets, increasing popularity of wearable fitness and medical devices, increasing awareness about fitness and rise in disposable income in developing economies.Major trends in the wearable fitness technology market include smartphone applications (apps) and advanced data analysis, advanced sensors, integration and implantation of technology with and in the human body, and specific-purpose wearables.

Companies are developing advanced apps with advanced data analysis features.

Companies may charge monthly subscription fees for premium data analysis and reports.

Also, they are focused on developing advanced sensors that track not only accurate metrics but also qualitative attributes such as stress level and athletic performance.

Wearable fitness technology has gone beyond just smartwatches and wristbands with new products such as smart shoes, smart apparels, headbands and more.

June 13, 2019: The global wearable technology market is anticipated to reach USD 196.5 billion by 2022, according to a new study by Grand View Research, Inc. Research and development investment by large number of industry player is expected to fuel growth over the forecast period.Increasing disposable income worldwide is expected to fuel industry growth over the forecast period.

The emergence of 3D printing solution and crowd funding is expected to positively impact the wearable technology market.Download sample Copy of This Report at: https://www.radiantinsights.com/research/wearable-technology-market-analysis-by-product-wrist-wear-eye-wear-foot-wear-neck-wear-body-wear-by-application-fitness-amp-wellness-healthcare-infotainment-defense-enterprise-and-industrial-and-segment-forecasts-to-2022/request-sample Increasing smartphone penetration worldwide is expected to propel industry growth over the forecast period, owing to increasing wearable device compatibility.

Advancement in semiconductor electronics is expected to favor more efficient and effective products, thereby fuel revenue growth over the next seven years.Various health and economic benefits are expected to contribute to overall industry development.

For instance, advertisement agencies can bring down research cost through the use of eye-wear, which can allow enhanced data collection of customers' feedbacks.

Data privacy concern may also adversely affect the industry demand.Click For Report Details @ https://www.radiantinsights.com/research/wearable-technology-market-analysis-by-product-wrist-wear-eye-wear-foot-wear-neck-wear-body-wear-by-application-fitness-amp-wellness-healthcare-infotainment-defense-enterprise-and-industrial-and-segment-forecasts-to-2022 Further key findings from the study suggest:The global industry is innovation driven and continuously evolving.

Government initiative to enhance their defense capability and provide soldiers with advanced technology is anticipated to drive investment in this sector.North America wearable technology market is estimated to be the key regional segment and is anticipated to grow at a CAGR of around 32% over the next seven years.