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Wearable Computing Market to Hit $244.43 Billion by 2030: Grand View Research, Inc.

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SAN FRANCISCO, Aug. 17, 2023 /PRNewswire/ — The global wearable computing market size is anticipated to reach USD 244.43 billion by 2030, registering a CAGR of 20.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market has been experiencing significant growth in recent years due to technological advancements and increasing consumer interest. The rise in popularity of fitness trackers and smartwatches demonstrates the growth of the market. Moreover, wearable devices have gained popularity across various sectors, including fitness and healthcare, entertainment, and industrial applications. Wearable devices are being increasingly adopted in the healthcare industry.

Key Industry Insights & Findings from the report:

  • The fitness trackers product type segment dominated the market with a share of 35.0% in 2022. Fitness trackers are wearable devices that monitor and track fitness-related metrics, such as steps taken, distance traveled, calories burned, heart rate, sleep patterns, and more.
  • The Bluetooth connectivity segment dominated the market with a revenue share of 37.4% in 2022. Bluetooth technology enables wireless communication and data transfer between wearable devices and other devices, such as smartphones, tablets, and computers.
  • By application, the consumer segment dominated the market with a revenue share of 62.6% in 2022 due to its ability to enhance personal experiences, track fitness, and health metrics, and provide convenient access to information and communication.
  • North America established a strong regional position in the global market with a 40.7% share in 2022. The region has a well-developed ecosystem for wearable technology, including a mature supply chain, a strong retail presence, and extensive distribution networks

Read full market research report with ToC & latest insights, “Wearable Computing Market Size, Share & Trends Analysis Report By Connectivity (Wi-Fi, 4G/5G), By Product Type (Fitness Trackers, Smart Watches), By Application (Consumer, Non-consumer), By Region, And Segment Forecasts, 2023 – 2030”, published by Grand View Research.

Wearable Computing Market Growth & Trends

For instance, wearable ECG monitors, continuous glucose monitors, and smart insulin pens help patients manage their conditions and provide healthcare professionals with real-time data for monitoring and diagnosis. This expansion of medical wearables indicates market growth in the healthcare sector. Moreover, wearable computing has also made its way into fashion and accessories. Designers and brands collaborate with technology companies to create smart garments, jewelry, and accessories embedded with sensors and connectivity. These fashionable wearables combine technology and style, catering to a growing consumer demand for wearable devices that blend seamlessly into their lifestyles.

For instance, in November 2020, Samsung Electronics Co., Ltd. partnered with fashion designer Thom Browne, Inc., a fashion brand based in New York, to introduce a limited edition of the Samsung Galaxy Z Fold 2 smartphone. The collaboration aimed to bring together technology and high fashion, with the device featuring a custom design by Thom Browne, including signature colors, wallpapers, and custom app icons. The adoption of Augmented Reality (AR) and Virtual Reality (VR) devices is rising. Products like the Oculus Quest VR headset and Microsoft HoloLens AR headset have gained popularity, indicating the growth of wearables in the entertainment and gaming industries. These devices offer immersive experiences and have opened new opportunities for wearable computing.

For instance, HoloLens is an AR headset developed by Microsoft that overlays digital information in the real world, enabling applications like remote assistance, architectural visualization, and industrial training. Wearable computing has applications in the manufacturing, logistics, and maintenance industries. Devices like smart glasses with AR overlays provide workers with hands-free access to information, instructions, and remote assistance. This improves efficiency and safety in industrial settings, showcasing the growth potential of wearable computing in the industrial sector. For instance, Bose Corp., based in the U.S., introduced Bose Frames, an audio sunglass with Bluetooth connectivity. They allow users to wirelessly connect to their smartphones and enjoy music, make calls, and access virtual assistants without needing traditional headphones or earbuds.

Wearable Computing Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 67.47 billion

Revenue forecast in 2030

USD 244.43 billion

Growth rate

CAGR of 20.2% from 2023 to 2030

Base year for estimation

2022

Historical data

2017 – 2021

Forecast period

2023 – 2030

Wearable Computing Market Segmentation 

Grand View Research has segmented the global wearable computing market based on product type, connectivity, application, and region

 Wearable Computing Market – Product Type Outlook (Revenue, USD Million, 2017 – 2030)

  • Smart Watches
  • Smart Jewelry
  • Fitness Trackers
  • Body-worn Cameras
  • Head Mount Displays
  • Others

Wearable Computing Market – Connectivity Outlook (Revenue, USD Million, 2017 – 2030)

  • Bluetooth
  • Wi-Fi
  • 4G/5G
  • Others

Wearable Computing Market – Application Outlook (Revenue, USD Million, 2017 – 2030)

  • Consumer
  • Non-consumer

Wearable Computing Market – Regional Outlook (Revenue, USD Million, 2017 – 2030)

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia (KSA)
    • South Africa

List of Key Players in Wearable Computing Market

  • Apple Inc.
  • Fossil Group
  • Garmin Ltd.
  • Google LLC
  • NIKE, Inc.
  • Samsung Electronics Co., Ltd.
  • Sony Corp.
  • Sensoria
  • Huawei Technologies Co.
  • Xiamoi Inc.

Check out more related market research studies published by Grand View Research:

  • Wearable Payments Devices Market The global wearable payments devices market size is expected to reach USD 80.39 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 29.8% from 2021 to 2028. Over time, payment systems have adapted to suit the needs of customers, such as increased convenience and reduced time while making payments. The growing popularity of contactless payment technology, coupled with the increasing adoption of wearable devices, such as smartwatches for contactless payments, is expected to fuel the market growth over the forecast period.
  • Enterprise Wearable Market – The global enterprise wearable market is expected to reach USD 22.3 billion by 2025, according to a new study conducted by Grand View Research, Inc. The high demand for enterprise wearable devices in the Asia Pacific region is anticipated to drive industry growth over the next decade. The aging population and rising chronic diseases, such as coronary heart diseases and diabetes, in countries such as China, India, and Japan would drive the demand for wearable technology in the region.
  • Cognitive Computing Market – The global cognitive computing market size is projected to reach USD 225.33 billion by 2030, registering a CAGR of 27.6% from 2022 to 2030, according to a new study published by Grand View Research, Inc. The surge in demand for cognitive computing technology comes from an increased need for making better decisions, transforming industries, and democratizing expertise. The technology has become sought-after among decision-makers to handle the massive amount of data and iterative analytics. Industry leaders anticipate the use of cognitive computing systems will gain ground from the rising prominence of machine learning and natural language processing.

Browse through Grand View Research’s Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter

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Blockchain Press Releases

Flash News: OKX Introduces Exclusive ‘Babylon Pioneer Pass Event’ in Collaboration with Babylon, Offering Free Pioneer Pass NFT Minting for the First 100,000 Users Who Stake on Babylon Testnet

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SINGAPORE, March 2, 2024 /PRNewswire/ — OKX, a leading Web3 technology company, has issued updates for March 2, 2024.

OKX Introduces Exclusive ‘Babylon Pioneer Pass Event’ in Collaboration with Babylon, Offering Free Pioneer Pass NFT Minting for the First 100,000 Users Who Stake on Babylon Testnet

OKX today announced the launch of its ‘Babylon Pioneer Pass Event,’ giving users who access the Babylon Testnet and stake any amount of Signet Bitcoin (sBTC) the opportunity to claim Babylon’s Bitcoin Pioneer Pass NFT. To qualify for a spot, users must access the Babylon Testnet and stake any amount of Signet Bitcoin (sBTC).

The event kicks off on February 28 and continues until March 6. Following the event, starting from March 7, participants who have been whitelisted will have the ability to mint their Bitcoin Pioneer Pass NFT using the OKX Wallet and their whitelisted address.

The process of participating in this event is straightforward and involves the following steps:

  1. Firstly, users will need to prepare by setting up their OKX and Keplr Wallets. These wallets will be crucial for interacting with the Babylon Testnet and the subsequent claiming of sBTC and BBN.
  2. Following the wallet setup, users can then claim the sBTC and BBN on Babylon’s Official Discord. These tokens will be needed for staking in the Babylon Testnet.
  3. Finally, users will need to access Babylon’s official website, where users can actively engage, stake their tokens and claim their whitelist spots.

Participation in the event offers a multitude of benefits. Users can engage actively with the Babylon Testnet, which in turn enhances their understanding of the Babylon protocol and its functionalities. Furthermore, participants contribute to the development and evolution of the Babylon protocol by being active users.

The ‘Babylon Pioneer Pass Event‘ is a result of OKX’s partnership with Babylon, a trustless Bitcoin staking protocol. The Bitcoin Pioneer Pass, Babylon’s first commemorative Non-Fungible Token (NFT), is a highlight of this event, representing a significant milestone for both OKX and Babylon.

For more information, please visit the OKX Support Center.

About OKX

A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:

  • OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 80 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
  • DEX: A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported.
  • NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
  • Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.

OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.

As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.

To learn more about OKX, download our app or visit: okx.com

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Blockchain Press Releases

Bitget Wallet now supports the Blast Mainnet, pioneering full ecosystem support as a Web3 wallet

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VICTORIA, Seychelles, March 1, 2024 /PRNewswire/ — The globally leading Web3 trading wallet Bitget Wallet has now integrated support for the Blast Mainnet, making it the first all-in-one Web3 wallet for the Blast ecosystem. Users can effortlessly add and switch mainnets within the wallet with just one click, without the need for manual configuration. This integration enables users to manage, transfer, swap, and interact on one of the largest L2 launches in 2024.

Bitget Wallet has aggregated liquidity from mainstream DEXs within the Blast ecosystem, such as BlasterSwap and MonoSwap, into its Swap feature. This allows for mainnet token Swap transactions, providing users with convenient services for trading assets on the Blast blockchain.

During the Blast testnet phase, Bitget Wallet was among the first to offer support, unveiled a dedicated zone in its DApp page for Blast. This section featured over 40 elite projects from Blast’s Big Bang incentive program, enabling users to easily explore, interact, and potentially receive future airdrops in the Blast ecosystem. Following the launch of the Blast mainnet, Bitget Wallet plans to continue integrating popular projects from the Blast ecosystem, offering users extensive asset management features and a comprehensive ecosystem experience.

Bitget Wallet’s COO, Alvin Kan, highlights Blast as a Layer 2 solution with staking at its core, gaining market attention since launch. He says, “We’re committed to cutting-edge tech, lowering Web3 engagement barriers. Collaborating with quality mainnets like Blast, we aim to drive Web3 ecosystem growth.”

This week, Bitget Wallet engages with popular Blast ecosystem projects, exploring market traction, “Stake Layer 2” narrative, TVL enhancement strategies by staking and earning points, notable projects, and effective ways for users to participate in the Blast ecosystem upon mainnet launch. This provides users with valuable insights for meaningful ecosystem engagement.

Additionally, Bitget Wallet is organizing major events to support the Blast ecosystem, providing users with opportunities for discovering new assets.

About Bitget Wallet

Bitget Wallet stands as Asia’s largest and one of the world’s top non-custodial Web3 wallets, boasting over 19 million users globally. Featuring a comprehensive array of features including asset management, intelligent market data, swap functionality, launchpad, inscribing, DApp browsing, and more, Bitget Wallet promises users an unmatched multi-chain Web3 experience. Currently, Bitget Wallet supports over 100 blockchains, hundreds of EVM-compatible chains, and more than 250,000 cryptocurrencies. By aggregating liquidity across hundreds of leading DEXs and cross-chain bridges, Bitget Wallet is able to facilitate seamless and efficient trades on 40+ blockchains.

For more information, visit: Website | Twitter | Telegram | Discord

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Blockchain Press Releases

Cashback and Crypto: Bybit’s Monthly Bonanza

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DUBAI, UAE, March 1, 2024 /PRNewswire/ —Bybit, one of the world’s top three crypto exchanges by volume, now unveils March’s Fiat Cashback Splash for both fresh and seasoned users who make fiat deposits.

This effort celebrates both new and familiar faces within the Bybit fold. The “Fiat Cashback Splash” is part of Bybit’s pledge to be the world’s Crypto Ark, leading the way to the new financial system, and offering straightforward chances for anyone to get involved. Indeed, any crypto users, including newcomers, will be able to walk the crypto path with Bybit as a reliable ally.

“We aim to always offer more to our users, and the Fiat Cashback Splash is our latest move to improve their journey,” said Ben Zhou, Bybit’s co-founder and CEO. “The Fiat Cashback Splash is our way of saying thank you to our community, both old and new, for their trust and support.”

This event spans the first week of every month and any one of Bybit’s 20 million users who bring fiat to the table will see rewards. Newcomers putting down $100 through fiat or a single click buy will get up to $10 back on fees. Those already with Bybit, depositing $500 or more, will see $5 returned.

For the heavy hitters depositing over $5,000, Bybit adds a $30 Buy Crypto Coupon into the mix, widening the horizon for investment.

#Bybit / #TheCryptoArk

About Bybit

Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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