US Smart Wearables Market Overview:
US Smart Wearables Market Size was valued at USD 25.1 Billion in 2022. The smart wearables market industry is projected to grow from USD 30.24 Billion in 2023 to USD 134.448 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 20.50% during the forecast period (2023 - 2032). One of the main market driver driving the growth of the US smart wearables market in the US is the rising prevalence of chronic diseases including diabetes, cancer, cardiovascular disease, and others.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Smart Wearables Market Trends
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Increasing Aging Population to Boost the Market Growth
Effective health management becomes more and more important as people age. Today's elderly are making the most of smart wearables to monitor their health metrics and maintain communication with caregivers and healthcare providers. By utilizing wearable smart devices, caregivers and healthcare professionals can monitor the health status of senior citizens in real time and stay informed about several vital health metrics, including heart rate monitoring, prescription reminders, GPS tracking, and fall detection. Furthermore, it's imperative that elderly individuals with chronic illnesses frequently track their health status and engage in micro-monitoring. These duties are simple to complete with smart wearables, and healthcare professionals can evaluate patient conditions and recommend suitable treatment options based on the data that has been stored. Additionally, some of the key drivers driving the growth rate of the smart wearables market include the increasing usage of 5G and Al, as well as the increasing integration of mobile platforms into human life. The market for smart wearables is also expected to rise at a faster rate due to the increasing use of telemedicine, remote patient monitoring, and home healthcare.
With today's advanced technology, smart wearable makers may easily produce wearables with increased functionality, better connectivity, and longer battery life. This may increase consumers' attraction to smart wearables. Smart wearable devices that track health and fitness are becoming more and more popular. It is capable of monitoring heart rates, tracking steps, and providing health-related statistics. Additionally, to help users reach their fitness objectives, it offers personalized insights and feedback. Customers are starting to realize that smart wearable technology can improve their health and well-being, as well as increase productivity and entertainment value. In order to draw consumers, manufacturers create fashionable and cutting-edge wearables using premium materials. Global demand for smart wearables has increased as a result of this. The market is always expanding for wireless gadgets that can link to computers and smartphones because consumers are yearning for them. Thus, driving the smart wearables market revenue.
Smart Wearables Market Segment Insights:
Smart Wearables Operating System Insights
The US Smart Wearables market segmentation, based on operating system includes Wear OS, Watch OS, Tizen OS, Fitbit OS, and Others. The watch OS segment dominated the market mostly impacted by elements like the development of technology, the rise in popularity of fitness and health, and the inclusion of new features to smartwatches. In addition to improving in terms of health monitoring, these gadgets are getting more and more popular since they are gaining LTE connection, app ecosystems, and better user interfaces.
Smart Wearables End User Insights
The US Smart Wearables market segmentation, based on end user, includes Individual and Industrial and Commercial (Transportation, Military, Sports and Fitness, Healthcare, Others). The individual category generated the most income. The popularity of this category is influenced by elements including style, connectivity, and health monitoring features. The market dynamics are also impacted by ongoing innovation and consumer demand for multipurpose gadgets.
Smart Wearables Product Type Insights
The US Smart Wearables market segmentation, based on product type, includes Smartwatches, Basic Smartwatches, Advanced Smartwatches, Glasses, Wearable Cameras, Ear Wearables (Hearables), Smart Clothes, Footwear and Shoes, Patient Gowns and Vests, Caps and Gloves, Auxiliary Wearables, Data Gloves, Fitness & Wellness Devices, Head-mounted Displays, Smart Jewelry, Health Wearables, and Emerging Wearables. The smartwatches category generated the most income. The primary driver of segmental growth is the growing acceptance and popularity of smartwatches across the globe. The practical functions of smartwatches, like communication, fitness monitoring, mobile payments, music streaming, and other features, are largely driving up the market's growth and increasing the number of people using these devices.
Smart Wearables Connectivity Insights
The US Smart Wearables market segmentation, based on connectivity, includes Wi-Fi, Cellular Data, Bluetooth, and Near Field Communication. The bluetooth category generated the most income. Bluetooth technology provides seamless connectivity, which has improved the usefulness of smart wearables by allowing capabilities like data transmission, wireless music streaming, and smartphone synchronization. The market for smart wearables with Bluetooth functionality is predicted to grow as customer demand for linked and integrated devices increases. This will encourage product diversification and innovation in the market.
Figure 1: US Smart Wearables Market, by Connectivity, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Smart Wearables Application Insights
The US Smart Wearables market segmentation, based on application, includes Infotainment, Healthcare & Medical, Fashion & Lifestyle, Fitness & Wellness, Safety & Security, and Auxiliary Applications. The fitness & wellness category generated the most income. The primary cause of this growth is the rise in demand for wearable scanners and computing devices in logistics, warehouses, and other settings where efficiency and speed are critical.
Smart Wearables Sales Channel Insights
The US Smart Wearables market segmentation, based on sales channel, includes Modern Retail (Online [E-commerce Stores), Offline (Hypermarkets, Supermarkets, Specialty and Discount Stores]) and Conventional Retail (Retail Stores). The online category generated the most income fueled by the growing popularity of online purchasing among consumers and e-commerce platforms. Convenience, a large selection of products, and competitive price are some of the factors driving the growth in online sales of smart wearables. Given the critical role that digital platforms play in influencing consumer purchasing behavior, this trend is probably here to stay.
Smart Wearables Country Insights
The US held a sizable portion of the global market in 2022 as a result of growing healthcare spending by the populace and higher expenditures from medical device manufacturers. Growing the market further is dependent on key players and manufacturers bringing attention to the variety of smart wearables that are available. Given its strong industrial infrastructure and its history of strategic alliances and acquisitions, the U.S. market is expected to dominate the market in the years to come. In addition to the high smartphone penetration rate of over 90% among Americans, wearable smart devices with personalized settings are being manufactured to fulfill the growing demand. Furthermore, the expansion of the US market is attributed to various factors, including the emergence of start-up companies, government investments, and the accessibility of smart wearables through both online and offline channels.
Smart Wearables Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the smart wearables market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, smart wearables industry must offer cost-effective items.
Major players in the smart wearables market are attempting to increase market demand by investing in research and development operations includes Google LLC, Sony Corporation, Garmin Ltd, Samsung Electronics Co. Ltd., Amazon, Fitbit, Under Armour, Fossil Group, Solos Technology Limited, Xiaomi, Huawei, Bose, Nuheara, Starkey, BBK Group, and Others.
Key Companies in the smart wearables market include
Smart Wearables Industry Developments
October 2022: Venu SQ 2 and nu SQ 2 Music Edition are the two new wearables that Garmin stated would be available in the Indian market. For the benefit of all Indian customers, both smartwatches will include linked functions, health monitoring, and continuous fitness tracking.
February 2022: Samsung Electronics Co., Ltd. has released a major upgrade for the Galaxy Watch 4, called Sleep Coaching, which shows animal iconography and indicates the user's sleep type. It will give them a 4-to 5-week routine to help them get better sleep. For the Galaxy Watch 4, Samsung will also be releasing a range of new official watch bands, such as sport band, fabric, and link bracelet options in fresh hues.
Smart Wearables Market Segmentation:
Smart Wearables Operating System Outlook
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Wear OS
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Watch OS
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Tizen OS
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Fitbit OS
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Others
Smart Wearables End User Outlook
Smart Wearables Product Type Outlook
Smart Wearables Connectivity Outlook
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Wi-Fi
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Cellular Data
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Bluetooth
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Near Field Communication
Smart Wearables Application Outlook
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Infotainment
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Healthcare & Medical
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Fashion & Lifestyle
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Fitness & Wellness
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Safety & Security
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Auxiliary Applications
Smart Wearables Sales Channel Outlook
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 25.1 Billion |
| Market Size 2023 |
USD 30.24 Billion |
| Market Size 2032 |
USD 134.448 Billion |
| Compound Annual Growth Rate (CAGR) |
20.50% (2023-2032) |
| Base Year |
2022 |
| Market Forecast Period |
2023-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Operating System, End User, Product Type, Connectivity, Application, Sales Channel, and Region |
| Countries Covered |
US |
| Key Companies Profiled |
Google LLC, Sony Corporation, Garmin Ltd, Samsung Electronics Co. Ltd., Amazon, Fitbit, Under Armour, Fossil Group, Solos Technology Limited, Xiaomi, Huawei, Bose, Nuheara, Starkey, BBK Group, and Others |
| Key Market Opportunities |
Gradual Technological Development Supporting the Market's Expansion |
| Key Market Dynamics |
Increasing Prevalence of Linked Devices and the Internet of Things are Major Factors Propelling the Market Growing Older Population to Accelerate Market Expansion |
Frequently Asked Questions (FAQ) :
The US Smart Wearables market size was valued at USD 25.1 Billion in 2022.
The market is projected to grow at a CAGR of 20.50% during the forecast period, 2023-2032.
The key players in the market are Google LLC, Sony Corporation, Garmin Ltd, Samsung Electronics Co. Ltd., Amazon, Fitbit, Under Armour, Fossil Group, Solos Technology Limited, Xiaomi, Huawei, Bose, Nuheara, Starkey, BBK Group, and Others.
The watch OS category dominated the market in 2022.
The fitness & wellness category had the largest share in the market.
