US Wearables Market 2021-2026, Growing Preference for Wearable Electronic Devices for Payment to Drive Market Growth

Key market dynamics:

  • Market Driver
  • Market challenges

The increased desire for portable electronic devices for payment; is one of the major drivers fueling the expansion of the US wearables industry. To enable contactless payment with a simple tap and pay through a POS (point of sale) terminal, mobile electronic gadget manufacturers are implementing Near Field Communication (NFC) technology as a standard in most devices. The increasing acceptance of contactless payments in the US is responsible for the growing popularity of this method. Although factors such as growing concerns about data security and privacy; may hinder market growth

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The US wearables market is segmented by Product (Smartwatches, Wireless Headsets, HMDs, Smartbands and Others) and Distribution Channel (Online and Offline).

The smartwatch segment will significantly increase the wearable market share in the US. The increasing demand for smart watches in developing countries such as China, South Koreaand India attributed to significant improvement in consumer choices and lifestyles, particularly among the middle-class population.

  • Product
    • Smart watches
    • Wireless headphones
    • HMD
    • Smart Zones
    • Others
  • Distribution channel

Download the sample report for additional information on the contribution of all departments and regional opportunities in the report.

Some companies are listed with their offers

The increasing competition in the market compels the sellers to adopt various growth strategies such as promotional activities and advertising expenditures to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies, such as mergers and acquisitions, to remain competitive in the market.

The report analyzes the competitive landscape of the market and offers information on various market vendors including:

    • 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.

Related references:

Cloud Managed Services Market by End User and Geography – Forecast and Analysis 2022-2026: The cloud managed services market share is expected to grow to USD 52.62 billion from 2021 to 2026, and the market growth dynamics will accelerate at a CAGR of 10.37%.

Buy Crypto Wallet by Service and Geography – Forecast and Analysis 2022-2026: The crypto wallet market share is expected to grow to USD 686.05 million from 2021 to 2026, and the market growth dynamics will accelerate at a CAGR of 24.19%.

Scope of the US Wearables market

Report Coverage

Details

Page number

120

Base year

2021

Estimated period

2022-2026

Growth momentum & CAGR

Accelerating to a CAGR of 8.92%

Market development 2022-2026

$6.85 billion

Market structure

Fragmented

Year-on-year growth (%)

6.99

Competitive landscape

Leading Companies, Competitive Strategies, Scope of Consumer Engagement

Key companies with profiles

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, Fast growing and slow growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics and market status analysis for the forecast period.

Customization work

If our report doesn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.

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Table of Contents

Summary of highlights

Market landscape

  • Market ecosystem
  • Value chain analysis

Market dimensions

  • Market definition
  • Market segment analysis
  • Market Size 2021
  • Market Outlook: Forecast 2021 – 2026

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • The threat of newcomers
  • Threat of substitutes
  • Threat of rivalry
  • Purchase status

Market segmentation by product

  • Market segments
  • Compare by product
  • Smartwatches – Market Size and Forecast 2021-2026
  • Wireless Headphones – Market Size and Forecast 2021-2026
  • HMDs – Market Size and Forecast 2021-2026
  • Smart Belts – Market Size and Forecast 2021-2026
  • Others – Market Size and Forecast 2021-2026
  • Purchase opportunity per 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
  • Buying opportunity from the distribution channel

Customer landscape

  • Customer landscape
  • Buying guides
  • Market challenges
  • Market trends

Seller landscape

  • Seller landscape
  • Landscape disturbance

Supplier analysis

  • Covered sellers
  • Placement of sellers in the 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

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About us

Technavio is a leading global technology research and consulting company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With more than 500 expert analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, in 50 countries. Their client base consists of businesses of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research and hands-on market knowledge to identify opportunities in existing and potential markets and evaluating their competitive positions in changing market scenarios.

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