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The use of wearables is influenced by the increasing implementation in different areas. In addition, technological advances in software and hardware components, and their increased adoption in fitness, healthcare and defense are supporting the growth of the wearable technology market. However, limited battery life and security concerns have limited the adoption of wearables in the wearable technology industry.

In North America, the adoption of wearable technology is high, and this region leads the world level. The increasing use of fitness wear and wrist wear among fitness enthusiasts has increased the demand for wearable technology in this area. According to data recorded in 2015, the United States has the largest share. The main reasons for the growth of wearable technology in the United States are innovation and progress. In addition, the introduction of new products by leading US companies has increased the demand for wearable technology. The expansion of technological innovation in emerging countries is expanding the market for wearable technology. Healthcare and fitness are two major areas where wearable technology is in great need.

North America Wearable Technology Market, By Product Type (Wristwear, Eyewear, Footwear, Neckwear, Bodywear, Others), By Industry (Consumer Products, Healthcare, Industrial, and Others), By Type (Smart Textile (Passive, Active, Ultra Smart) (Sensing, Energy Harvesting, Luminiscence, Thermo Electricity), Non-Textile), By Technology, By Component, By Country (U.S., Canada, Mexico) – Industry Trends and Forecast to 2024

Major Market Competitors

• Adidas AG,
• Apple, Inc.,
• Fitbit, Inc.,
• Garmin, Ltd.,
• Google, Inc.,
• Jawbone, Inc.,
• LG Electronics Inc.,
• Nike, Inc.,
• Pebble Technology Corp.,
• Qualcomm, Inc.,
• Samsung Electronics Co., Ltd.,
• Sony Corporation, and
• Xiaomi Technology Co

Segmentation is based on product type, end-user and geography.

The growth of wearable devices market in the consumer products industry is owing to the increasing demands for wristwear and bodywear products growing in this market.

Based on product type the wearable devices market is segmented into

• wristwear,
• eyewear,
• footwear,
• neckwear,
• bodywear

Based on geography the North American wearable devices market is segmented into 3 countries,

• US.,
• Canada and
• Mexico

U.S. is expected to dominate the market due to strong awareness of pedometers and smart watches in this region. The rising pool of chronic diseases like obesity and diabetes is also the major factors in development of this market.

Wrist wearable products are likely to grow in popularity in the coming years. The market is growing with increasing sales of smartwatches expected to be launched by leading players.

It is expected that with major companies foraying into the market such as Apple and Samsung, the look and feel for wearables would increase immensely. These devices are targeting the fashion sense and the health necessity hence doubling the growth of the market. Initially these products were for the priviledged but with Chinese players launching their products in developing nations, the market in South Asian and South American countries are expected to drive the growth of the market.

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