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Global Wearable Apps Market Overview
"The Wearable Apps Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Wearable devices come preinstalled with various apps and can be used for navigation purposes to track online transactions and data related to health and fitness. Wearable devices can be integrated with smartphones, and users can control music functions, receive/decline calls, access photos, and videos, etc.
The major factor fueling the growth of the global wearable apps market is consumers' high adoption of fitness apps and smartwatches worldwide. The increasing inclination of consumers toward technology that allows integration of smartphones and the adoption of wearable devices that help in health and fitness monitoring, online transactions, music streaming, etc., is further contributing to the growth of the global wearable apps market. Rapid penetration of the Internet of Things (IoT) and high-speed Internet providers are other factors driving the growth of the global wearable apps market.
The availability of cheaper and free fitness apps, along with the declining cost of wearable devices, is further boosting the growth of the target market, and the trend is expected to continue over the forecast period. In addition, hectic lifestyles and the increasing prevalence of lifestyle diseases such as hypertension, sleep deprivation, diabetes, etc., are driving the adoption of wearable apps to monitor various health and wellness-related indications and symptoms.
Major factors restraining the growth of the global wearable apps market include the non-compatibility of some wearable devices with specific smartphones and the availability of non-user-friendly apps. An increasingly prominent trend in the market is the rising adoption of smartwatches by younger consumers and teens owing to the availability of features and functionalities such as compatibility with smartphones and music control options. Technological advancements in mobile augmented reality will present new and lucrative opportunities to players in the global wearable apps market during the forecast period.
North America accounts for the highest revenue share, projected to increase at a CAGR of XX% during the forecast period. The presence of major wearable device manufacturing brands in this region has contributed to the market's rapid growth. The Asia Pacific is projected to be the second-largest market in revenue generation between 2017 and 2026.
Global Wearable Apps Market Segmentation:
Global wearable apps market segmentation by devices:
- Fitness bands
- Smart glasses
Global wearable apps market segmentation by app category:
- Fitness apps
- Industrial apps
- Online transaction apps
- Customization apps
- Healthcare apps
Global wearable apps market segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Samsung Electronics
- Fuzz Productions
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