Market Research Report
Wearable Technology Forecasts 2021-2031
|Wearable Technology Forecasts 2021-2031|
Published: September 14, 2021
Content info: 263 Slides
Delivery time: 1-2 business days
Wearable Technology Forecasts 2021-2031
A comprehensive review of market opportunities across all wearable electronic devices, from smartwatches to skin patches, AR, VR & MR to hearables, smart clothing to smart eyewear, and more.
"The market for wearables will reach $138bn by 2025."
This report is the culmination of IDTechEx's research in wearable technology over the past decade. Throughout this time, wearable technology has undergone a turbulent journey, with a meteoric rise in hype, accompanied by billions of dollars of funding, tens of thousands of new patents filed, hundreds of new companies, thousands of products, and tens of billions of dollars of new revenue generated. IDTechEx analysts have followed the industry throughout this period, documenting its progress by collecting data, interviewing hundreds of companies, attending and organising events around the world, and contributing to the ecosystem throughout. This report summarises IDTechEx's findings over this time, along with the latest conclusions and outlook. It provides detailed overviews of each product type across the broad and varied wearable technology product ecosystem, complete with historic revenue and sales volume data back to 2010 and market forecasts from 2021-2031.
A key part of the 2021 edition of this report studies the impact of COVID-19 on this sector. The many varied product types and industries covered in the report each experienced many different drivers and challenges as a result of the global pandemic. Some sectors boomed, aided by emergency regulation changes which allowed products to be launched faster. Themes such a remote patient monitoring, telehealth and digital health, and related areas experienced an acceleration in growth as a result. However, other sectors suffered more negative impacts; delays in the introduction of other non-pandemic specific regulatory changes that would benefit new wearable products (e.g. OTC hearing aids), point-of-sale or customer access challenges caused by limitations on in-person retail or doctor visits, supply chain disruption and other factors.
The report details the significant success that wearable technology products have seen in the last decade, with a total market worth nearly $80bn in 2020, having now tripled in terms of annual revenue since 2014. This historic growth has been driven by product types including smartwatches, hearables (particularly TWS headphones), skin patches (such as continuous glucose monitoring (CGM) devices and other medical patient monitoring devices), virtual reality (VR) headsets and many others. Other sectors are still in earlier stages of technology and market development, such as smart clothing, mixed and augmented reality (AR & MR), OTC hearing aids or smart contact lenses. Wearable technology products span many different categories, markets, technologies and levels of maturity.
The report looks at each of these sectors in detail, providing assessments and market data across all of the key players, technologies and in the current themes for each product area. In assessing 55 separate product types, the IDTechEx report is unique in its breadth of coverage across all wearable electronic products. The report is developed for players throughout the value chain for these products, from materials and component suppliers, to integrators and manufacturers, to OEMs and end users, and finally to investors, policy makers and regulators. It serves as a resource to provide the latest market data across each of these broad market sectors, backed up by a decade of historic data for reference, and with accompanying discussion of key trends and market forecasts.
Image source: IDTechEx
The report contains details of 55 forecast lines across five key sectors, as shown. The objective behind this report was to provide as much data about the sales volumes and revenues for wearable products, and thus includes historic data back to 2010 and forecasts from 2021-2031.
The best way to prepare for what will come next in wearables is to learn the lessons of history and to track the key innovation, product and market trends which exist in each of the product areas within this diverse product category. The report addresses the broad spectrum of products by addressing each sub-sector in its own dedicated chapter. These chapters provide the key summaries and overviews from their own separate research reports, representing thousands of companies that have been covered and hundreds of interviews over the last decade. Sitting as the flagship report on top of this extensive body of work, Wearable Technology Forecasts 2021-2031 summarizes the latest and critical information about each of these industries to provide a full overview of the entire space.
2021 has been a year of ample opportunity across many of the sectors covered.
IDTechEx's wearable technology reports and subscriptions have been used by hundreds of companies since the first report launched nearly a decade ago. This report acts as the broadest summary of all the major trends in wearable technology, with summaries of each major sector and centralised metrics for market data, patents, funding, product launches and interest for the sector as a whole. The team of analysts at IDTechEx continually profiles companies, attends events, consults with leading players and updates all of the key market and technology trend data across the entire portfolio, and this report provides a summary of that in one place.
|Forecast Units||Revenue, sales volumes, pricing|
|Segments Covered||Smartwatches & fitness trackers; virtual, augmented and mixed reality (VR, AR & MR); hearables; smart clothing & e-textiles; electronic skin patches; other wearable products|
All report purchases include up to 30 minutes telephone time with an expert analyst who will help you link key findings in the report to the business issues you're addressing. This needs to be used within three months of purchasing the report.