Wearable electronics are devices worn by an individual as clothing to convey the intelligent assistance that augments memory, intelligence, creativity, communication, and physical senses. It involves the products such as smart rings, wristwear such as wrist bands and smartwatches, smart earphones, smart clothing with sensors, fitness and sports shoes, athletic shoes, and several other products such as neckwear and headbands. These are integrated computing devices that allow the wireless networking and mobile computing for the users to improve their day-to-day activities.
Some key players in the North America Wearable Electronics Market include Apple Inc., Samsung Electronics, Google, Garmin, Fitbit, Huawei Technologies Co. Ltd., Sony Corporation, and Nike. These companies in the North America Wearable Electronics Market are efficiently working for leading the highest market growth, generating the highest percentage of revenue, obtaining the competitive edge, registering the great value of market share and keep maintaining the governing position by establishing the several research and development programs, increasing the features and benefits of wearable electronics, improving the qualitative and quantitative measures of such, implementing the policies of profit making and strategies of expansion, decreasing the associated prices of such, delivering the better customer satisfaction, analyzing the strategies and policies of government as well as contenders, and spreading the awareness connected to the applications and advantages of wearable electronics.
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Although, the Covid-19 situation resulted in the growth of the wearable electronics market across North America. The growth in remote work, business closures, furloughs, and augmented the interest in health monitoring throughout the COVID-19 pandemic secured a larger user base. It assisted to boost the revenues of wearable electronics companies. Restrictions on import and export and shutting down of manufacturing units provisionally during lockdown restrictions adversely impacted the supply chain of the wearable technology market. Notwithstanding of these challenges, Covid-19 had a positive impact on the wearable electronics market across North America.
However, the greater price of manufacturing these smart-wearable devices is considered to be one of the foremost challenges for producers within this region and is predicted to limit the growth of the smart wearable electronics market. Other challenges are negative effects of radiation on the human health.
The North America wearable electronics market is projected to observe the annual growth around ~15% over the next five years propelled by growth in technological innovations, increase in awareness & utilization of wearable electronics and a growth in demand for constant connection between individuals, places, and things. The market is projected to grow because of the strong existence of leading companies within the United States and their focus on this region, an augment in the rate of urbanization, and a growth in demand for advanced electronics. Other foremost drivers of the industry include the growing demand of consumers for communication, networking, and positioning. Also, augmenting the disposable income and internet penetration is leading to growth in the wearable electronics market. Therefore, it is predicted that during the forthcoming period the market of wearable electronics will augment more proficiently over the assessed duration.
Key Segments Covered in North America Wearable Electronics Market:-
North America Wearable Electronics Market By Product
Wrist-Wear Electronics
Eye-Wear Electronics
Foot-Wear Electronics
Neck-Wear Electronics
Body-Wear Electronics
North America Wearable Electronics Market By Components:-
Networking and Positioning Components
Power Supply Components
Sensing Components
Optoelectronic and Display Components
Control Components
Interface Components
North America Wearable Electronics Market By Connectivity:-
Cellular Network
Near Field Communication (NFC)
Bluetooth Technology
Wi-Fi Network
North America Wearable Electronics Market By End User:-
Fitness and Sports
Healthcare and Life Sciences
Media and Entertainment
Apparel and Fashion
Government and Military Defense
North America Wearable Electronics Market By Geography:-
U.S.
Canada
Mexico
Key Competitors in North America Wearable Electronics Market:-
Apple Inc.
Samsung Electronics
Garmin
Fitbit
Huawei Technologies Co. Ltd.
Sony Corporation
Nike
Time Period Captured in the Report:-
Historical Period: 2017-2021
Forecast Period: 2022-2027
Key Target Audience:-
Wearable Electronics Manufacturers
Wearable Electronics Product Assemblers
Consumer Electronics Companies
Wearable Technology Developers
Wearable Electronics Raw Materials and Components Suppliers
Value-Added Resellers (VARs)
Potential Investors in Wearable Electronics Companies
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