In a recent published report, Kenneth Research has updated the market report for Wearable Device market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Wearable Device market products.
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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
Global Wearable Device Market was valued at USD 129.06 Million in the year 2017. Global Wearable Device Market is further estimated to grow at a CAGR of 42.65% from 2018 to 2025 to reach USD 2213.32 Million by the year 2025. North America region holds the highest market share in 2017 and Asia-Pacific market is considered as the fastest growing market in the forecasted period. At a country level, developed markets like the U.S. as well the emerging markets like China with highest population base holds the notable market share in 2017 and it is projected to grow at a gradual rate in the coming years.
The Major Market Players in Wearable Device Market are Apple Inc., Panasonic Corp., Samsung SDI Co. ltd., LG Chem Ltd., Brightvolt Inc., NEC Energy Solutions Inc., Blue Spark Technologies Inc., Enfucell OY Ltd., ST Microelectronics N.V., Ultralife Corp. and Other 10 more company’s details information is provided in research report. In the Wearable Device market Samsung SDI Co. Ltd. Is holding the substantial market share because of its better global presence both at production and at an operational level. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as collaboration are adopted by top players Apple & LG in order to reduce the production cost.
Segmentation done on the basis of Application includes Smart Packaging, Consumer Electronics, Entertainment, and Wearable Devices of which the Smart Packaging segment is expected to hold the highest market share during the forecast period. This market share is expected as smart packaging is an important element of the Internet of Things and Market 4.0. Different brands now offer more value to the product by providing consumers more information, like freshness, ingredients through packaging.
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Wearable Device Market Overview By Chargeability
Rechargeable Battery
Single-Use Battery
Wearable Device Market Overview By Application
Smart Packaging
Consumer Electronics
Entertainment
Wearable Devices
Smart Cards
Wearable Device Market Overview By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
Key points covered in this report:
- The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed.
- The import and export details along with consumption value and production capability of every region is mentioned in the report.
- Porter’s five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth.
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About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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