U.S. Wearable Devices Market Size Expected to Grow by $6.85 Billion as Growing Preference for Wearable Electronic Devices for Payment to Drive Growth

NEW YORK, November 22, 2022 /PRNewswire/ — The US wearables market size should grow by $6.85 billion. Further, market growth momentum will accelerate at a CAGR of 8.92% from 2021 to 2026. The report offers up-to-date analysis regarding the current market scenario, latest trends and drivers, and overall environment of the market. Request a FREE sample report

United States Wearables Market 2022-2026: Driver and Challenge

The increasing preference for portable electronic devices for payment is driving the growth of the market. Manufacturers of portable electronic devices are integrating near field communication (NFC) technology to enable contactless payment through a direct tap and point-of-sale (POS) terminal. The growing adoption of contactless payment is increasing the number of partnerships between market players. Vendors are integrating contactless payment functionality into their offerings, which is expected to have a positive impact on the growth of the wearables market in the United States.

The growing concerns about the security and privacy of data related to these devices challenge market growth. Large volumes of data are stored and accessed through these devices. Data generated by smartwatches can be easily decoded using a wireless interceptor. Additionally, several portable electronic devices are integrated with NFC, allowing them to store customer information and facilitate contactless transactions and data exchange. Thus, the risk of security and privacy breach is expected to limit the market growth over the forecast period.

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United States Wearables Market 2022-2026: Segmentation

  • Product
    • Smartwatches: The smartwatch segment will significantly contribute to the growth of the market over the forecast period. Rising demand for smartwatches in developing countries is driving the growth of this segment. Additionally, the rise in watch production has increased the demand for smartwatches, which in turn propelled the growth of the smartwatch market in the United States.
    • Wireless Headset
    • HMD
    • Smart bands
    • Others
  • Distribution channel

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United States Wearables Market 2022-2026: Vendor Analysis and Scope

To help companies improve their market position, the United States Wearables Market provides a detailed analysis of about 25 vendors operating in the market. Some of these vendors include Alphabet Inc., Apple Inc., Fossil Group Inc., Garmin Ltd., Huawei Investment and Holding Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Motorola Mobility LLC, Samsung Electronics Co. Ltd. . ., and Sony Group Corp.

The report also covers the following areas
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United States Wearable Clothing Market 2022-2026: Key Highlights

  • Market CAGR over the forecast period 2022-2026
  • Detailed information on the factors that will contribute to the growth of the wearable clothing market in the United States over the next five years
  • Estimation of the size of the wearables market in the United States and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the wearables market in the United States
  • Market Competitive Landscape Analysis and Detailed Vendor Information
  • Complete details of the factors that will challenge the growth of the United States Wearables Market vendors

Related Reports

Wearables Market by Product, Distribution Channel and Geography – Forecast and Analysis 2023-2027: The growing preference for wearable devices for payment is driving the growth of wearable devices market in particular. The market is witnessing an increased preference for portable electronic devices for contactless payments. As a result, manufacturers of portable electronic devices are incorporating NFC technology as a standard in most of their devices.

Wearable Health Sensors Market by Type and Geography – Forecast and Analysis 2022-2026: Rising awareness and preference for home healthcare is driving the growth of the market. The home care market is expected to grow owing to the growing elderly population and increasing incidence of targeted diseases. Rapidly rising treatment costs have encouraged healthcare organizations to offer more cost-effective options such as home COVID-19 testing.

United States Wearable Clothing Market

Report cover

Details

Page number

120

base year

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 8.92%

Market Growth 2022-2026

$6.85 billion

Market structure

Fragmented

Annual growth (%)

6.99

Regional analysis

WE

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Alphabet Inc., Apple Inc., Fossil Group Inc., Garmin Ltd., Huawei Investment and Holding Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Motorola Mobility LLC, Samsung Electronics Co. Ltd. and Sony Group Corp.

Market dynamics

Parent market analysis, market growth drivers and barriers, analysis of fast and slow growing segments, impact of COVID-19 and future consumer dynamics, and analysis of market conditions for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

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Contents

Summary

Market landscape

  • Market ecosystem
  • Value chain analysis

Market sizing

  • Market definition
  • Market segment analysis
  • Market size 2021
  • Market outlook: forecast for 2021 – 2026

Five forces analysis

  • The bargaining power of buyers
  • Bargaining power of suppliers
  • The threat of new entrants
  • The threat of substitutes
  • Threat of rivalry
  • Market state

Market segmentation by product

  • Market segments
  • Comparison by product
  • Smartwatches – Market size and forecast 2021-2026
  • Wireless Headset – Market size and forecast 2021-2026
  • HMD – Market size and forecast 2021-2026
  • Smart Strips – Market size and forecast 2021-2026
  • Others – Market size and forecast 2021-2026
  • Market opportunity by product

Market segmentation by distribution channel

  • Market segments
  • Comparison by distribution channel
  • Online – Market size and forecast 2021-2026
  • Offline – Market size and forecast 2021-2026
  • Market opportunity by distribution channel

Customer landscape

  • Customer landscape
  • Market factors
  • Market challenges
  • Market trends

Supplier Landscape

  • Supplier Landscape
  • Landscape disturbance

Vendor analysis

  • Suppliers Covered
  • Positioning on the supplier market
  • Alphabet Inc.
  • Apple Inc.
  • Fossil Group Inc.
  • Garmin Ltd.
  • Huawei Investment and Holding Co.Ltd.
  • Lenovo Group Ltd.
  • LG Electronics Inc.
  • Motorola Mobility LLC
  • Samsung Electronics Co.Ltd.
  • Sony Group Corp.

Annex

  • Report scope
  • Currency conversion rates for the US dollar
  • Research methodology
  • Abreviations list

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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