North America Wearable Electronics market by Connectivity
The Near Field Communication (NFC) segment in North America Wearable Electronics market is growing at a highest CAGR of ~% in 2017-2021 and is expected to reach ~USD Bn by 2027F. The growth is majorly attributed by the increasing demand for cashless transactions, particularly following the Covid-19 pandemic to avoid virus transmission via cash.
Bluetooth is the most widely used connectivity in wearable electronics as it provides better power supply, connectivity range, and communication between mobile devices. Also, unlike Wi-Fi and Cellular network, it does not need any external infrastructure, such as cell towers, and modems, resulting in a more feasible solution.
Following Bluetooth, the second most popular forms of connectivity are Wi-Fi and Cellular, which provide similar services to Bluetooth. However, they do have limitations due to infrastructure requirements, such as modems and cellular towers, which are prone to failure and disrupting services.
North America Wearable Electronics market by End user industry
The North America Healthcare Industry is expected to grow at positive CAGR of ~% in 2017-2021 and is expected to reach ~USD Bn by 2027F. The growing introduction of wearables which can be used in patient care, such as bio sensor that measure vitals such as heart rate, respiratory rate, body temperature, posture, physical activity, and a single-lead ECG for early detection and intervention to improve patient outcomes is leading to the higher demand of wearables electronics in healthcare.
Wearable technologies are also becoming popular in the military due to the growing demand for smart, interconnected, and portable devices for soldiers on covert operations. Furthermore, technological advancements and the increasing adoption of wearables in warehouses and manufacturing hubs are fueling product demand in industrial areas.
Competition Scenario In North America Wearable Electronics Market
The Competition is Highly Competitive or Fragmented. The intense competition and rapid technological changes, and consumer preferences in the market for smart footwear, apparel, and equipment’s, are causing strong competition among wearable electronics companies. To further expand their presence in the wearable electronics market, numerous players have implemented various growth strategies, such as expansions and new product launches with a diverse range of product lines.
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What is the Expected Future Outlook for the Overall Wearable Electronics in North America?
The revenues generated by wearable electronics market players in North America are projected to augment to ~ by 2027 from ~ during 2022, registering a robust CAGR of ~ during the same period.
In the last few years, there has been an increase in the number of electronic health wearables that really can collect data in real time and indicate the physiochemical properties of the body to examine wellness. Wearables are small electronic devices that can measure body temperature, heart and pulse pressure, breathing rate, GPS location, elevation, physical movement, lateral movement, and the electrical activity of the heart, muscles, brain, and skin when worn on the body. Wearables can enable users to continually monitor their health without actually visiting a hospital/clinical centre and to take measures when necessary.
Technological advancement and are gradually fueling the growth of consumer electronics, including wearable electronics. For instance, Augmented Reality (AR) and Virtual Reality (VR) technology in Eye Wear is enabling real-time access to various information and data, allowing doctors to provide more effective, less invasive, and overall better care to their patients. Remote medical care via telehealth and wearables has become an essential component of health operations during the pandemic and is expected to remain a valuable tool for both providers and patients.
The rise of wearables, combined with an insufficiency of skilled health care workers, has created a new demand for automatic, real-time personalised designs for in-home healthcare. These designs necessitate knowledge of chronic illness management, surgical outcomes, post-discharge care, neurology, and emotional well-being. Companies must provide more personalized care for wearables, allowing patients to engage in self-care, caretakers/therapists/doctors to better support patients, and providers to keep offering high-quality care for the patient’s needs at a lower cost.
Wearable electronics have a strong future potential to scale up in other industries, such as healthcare, manufacturing, and the public sector. For instance, in response to the COVID-19 pandemic, many healthcare providers have already re-structured their processes and strategies to promote “telehealth and remote patient monitoring” by utilizing AR and VR technology.
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
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North America Wearable Electronics Market
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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.
