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Subject: MRR

Wearable Electronics Global Strategic Industry Report 2024: Market to Reach $173.7 Billion by 2030 from $32.5 Billion in 2022 - Miniaturized, High Performance Wearable Devices Boosts Prospects


DUBLIN, March 1, 2024 /PRNewswire/ -- The "Wearable Electronics - Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

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Global Wearable Electronics Market to Reach $173.7 Billion by 2030

The global market for Wearable Electronics estimated at US$32.5 Billion in the year 2022, is projected to reach a revised size of US$173.7 Billion by 2030, growing at a CAGR of 23.3% over the analysis period 2022-2030. Wristwear, one of the segments analyzed in the report, is projected to record 21.6% CAGR and reach US$89.2 Billion by the end of the analysis period. Growth in the Eyewear segment is estimated at 25.8% CAGR for the next 8-year period.

Wearable electronics have witnessed a historical journey, expanding their applications and solutions with miniaturized, high-performance devices. Wrist-worn devices dominate the global market, with consumer electronics representing the largest end-use sector. While developed regions lead in adoption, developing regions show potential for future growth.

Competition in the wearable electronics market is intense, with key competitors vying for market share. The competitive market presence of players worldwide varies, categorized as strong, active, niche, or trivial. Recent trends also reflect the impact of COVID-19 and the potential effects of a global recession on this burgeoning industry. 

The U.S. Market is Estimated at $12.4 Billion, While China is Forecast to Grow at 26.2% CAGR

The Wearable Electronics market in the U.S. is estimated at US$12.4 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$19.7 Billion by the year 2030 trailing a CAGR of 26.2% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.2% and 18.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 24.1% CAGR.

MARKET OVERVIEW

MARKET TRENDS & DRIVERS

FOCUS ON SELECT PLAYERS (Total 133 Featured)

For more information about this report visit https://www.researchandmarkets.com/r/4lic87

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SOURCE Research and Markets


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