Authored By: Sarah
21 Jun 2024

 Wearables Market in US to grow by USD 34.53 billion between 2024-2028

According to a research report “ Wearables Market in US” by Distribution Channel (Online, Offline) Product (Smart watches, Wireless headphones, HMDs, Smart bands, Others) Application (Consumer electronics, Healthcare, Enterprise and industrial, Others) Geography (North America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 34.53 billion at a CAGR of  16.47% during the forecast period. In the US market, the adoption of wearable electronic devices for contactless payment is gaining traction. NFC technology is becoming a standard feature in these devices, including smartwatches, bands, and rings. By integrating NFC chips, users can make payments through a direct tap and pay method at POS terminals. This streamlined process reduces transaction time and eliminates the need to carry cash or cards. Although in its infancy, numerous industries are embracing this innovative payment solution..

Browse market data tables, figures, and in-depth TOC on “Wearables Market in US” by Distribution Channel (Online, Offline) Product (Smart watches, Wireless headphones, HMDs, Smart bands, Others) Application (Consumer electronics, Healthcare, Enterprise and industrial, Others) Geography (North America) Global Forecast to 2028.

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By Distribution Channel, the Online segment is projected to dominate the market size in 2024.

In the US market, the wearables sector is spearheaded by smartwatches, which function as mini computers, enabling features such as call making, messaging, and health tracking through step count, calorie consumption, and heart rate monitoring. Major players like Apple Inc., Samsung Electronics, Sony Group, and Garmin dominate this segment. A key growth driver is the increasing collaboration between industry vendors and IT companies.

By Product, Smart watches  segment is expected to hold the largest market size for the year 2024.

In the US market for wearables, the online segment signifies substantial revenue growth, sourced from e-commerce platforms like Amazon.com and vendors' proprietary websites. The expanding Internet user base is propelling the online distribution channel's growth during the forecast period. Consumers are increasingly drawn to online retailing due to its convenience, competitive pricing, and extensive product offerings. E-commerce platforms facilitate seamless access to a multitude of brands, enabling customers to purchase wearable devices such as fitness trackers and smartwatches at their leisure. These platforms obviate the need for physical store visits, making e-commerce an attractive choice for consumers.

North America is forecasted to hold the largest market size by region in 2024.

ai_geographic_landscape

The Wearables Market in US growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Adidas AG
  • Alphabet Inc.
  • ASUSTeK Computer Inc.
  • Capri Holdings Ltd.
  • Casio Computer Co. Ltd.
  • Fossil Group Inc.
  • Garmin Ltd.
  • HTC Corp.
  • Huawei Technologies Co. Ltd.
  • Lenovo Group Ltd.
  • LG Electronics Inc.
  • Motorola Solutions Inc.
  • Nike Inc.
  • Nokia Corp.
  • Polar Electro Oy
  • Samsung Electronics Co. Ltd.
  • Sony Group Corp.
  • TomTom NV
  • Xiaomi Communications Co. Ltd.
  • Apple Inc.
.

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Research Analysis Overview

The wearables market in the US continues to expand, encompassing a diverse range of electronic devices. These include smart glasses with sensors, VR/AR headsets, fitness trackers, and smartwatches. These wearable technologies integrate various wireless protocols, enabling features such as phone calls and notifications. Key components of wearable devices include magnetometers, gyroscopes, accelerometers, IMUs, GPS, and MEMS sensors. These sensors, collectively known as an Inertial Measurement Unit (IMU), facilitate fitness tracking and activity monitoring. Wearable medical devices, such as wristbands, are increasingly popular for monitoring health conditions and providing real-time data to healthcare professionals. Wearable technology has also entered the entertainment industry, with applications in video gaming and AR eyewear. The market for wearables is vast and diverse, catering to various industries and applications. From fitness tracking to entertainment and medical care, wearable technology continues to revolutionize the way we interact with electronic devices. In summary, the US wearables market encompasses a wide array of smart electronic devices, including smart glasses, VR/AR headsets, fitness trackers, smartwatches, and wearable medical devices. These devices leverage various sensors and wireless protocols to provide features such as phone calls, notifications, and fitness tracking.

Market Research Overview

The wearables market in the US continues to experience significant growth, driven by technological advances and the increasing popularity of smart devices. This market encompasses a wide range of cost-effective gadgets, including neckwear and bodywear, customizable watch faces, and fitness-tracking wearables. Wearable tech audience is also interested in stylish designs, such as smart glasses and headwear. Key sectors of this market include healthcare and consumer electronics. Wearable medical devices, like wristbands and smartwatches, are increasingly being used for health and autonomy, with features like ECG measures, heart rate monitoring, and sleep tracking. These devices are also being integrated with IoT platforms and home healthcare services for remote patient monitoring. Moreover, the market for wearable tech extends beyond fitness and wellness. It includes specialized devices for military and medical professionals, such as surgical training glasses with sensors and VR/AR headsets for gesture controls. Recharging and power consumption are crucial considerations for this market, with battery systems and wireless protocols like Bluetooth playing essential roles. The market for wearable tech is vast and diverse, with applications in entertainment, video gaming, and fashion and jewelry. It also includes footwear, non-textiles, and wearable smart textiles. The future of this market lies in the integration of sensors, AR and VR, and healthcare information for improved health self-efficacy and digital projections.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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