Saudi Arabia Wearable and Audio Devices Market Size

Saudi Arabia Wearable & Audio Devices Market Analysis

The Saudi Arabia Wearable and Audio Devices Market is expected to register a CAGR of 11.5% over the forecast period. Furthermore, the market growth of wearables in the country is influenced by technological advancements in software and hardware components, increasing implementation across various verticals, and increased adoption in fitness and healthcare, which are driving the market growth in the forecast period.

• The market for wearables in the country is also driven by the rising awareness of health and fitness, where wearable sensors play a vital role. Sensor-embedded wearable devices monitor bodily activities, such as body temperature, blood pressure, and heart rate. The demand from the healthcare industry has been driving the wearables market, as it enables remote data access.
• According to the NLM, the prevalence of CAD is slightly higher in men than in women across all age groups, with a steep increase in prevalence in both genders as age increases in Saudi Arabia.The majority of CAD in the Kingdom of Saudi Arabia (KSA) was counted at 5.5%, with slightly higher rates in urban areas compared to rural areas (6 vs. 4.2%, respectively) in the last year.
• Consumer demand for high-performance home theater experiences is increasing in Saudi Arabia, owing to increased disposable income, which will drive home audio demand in the coming years.Reduced manufacturer focus on built-in sound quality in television sets is expected to amplify the need for external audio solutions, thus benefiting market growth. For instance, in October 2022, LG launched the previous year's XBOOM speaker lineup in Saudi Arabia. The new LG XBOOM Go lineup (XG5, XG7) boasts a unique track type, a stunningly loud sound-producing woofer, and a bass enhancement algorithm that delivers that ribcage-rattling deep bass even as low as the volume goes.
• In September last year, NEOM announced the opening of NEOM Media Village and Jeddah Desert Studios, which contain the largest sound studios and film production support facilities in the Kingdom of Saudi Arabia. Through the NEOM project, Saudi Arabia wants to build a city that runs on its own energy and food and is based on technology. The Kingdom hopes that this will help it add more than twice as many people to its population.
• Furthermore, the increasing number of smartphone and tablet users in the country is expected to provide lucrative opportunities for market growth as they enable the integration of wearable devices. According to Cisco Systems, in the last year, there were 30 million total Internet users (83% of the population) in Saudi Arabia. Also, networked devices recorded 194.1 million in the same year.
• Moreover, design and complexity present challenges for developing high-efficiency audio equipment, as there are high interface integration issues with increased complexity in designing mixing circuits, especially for audio mixers and amplifiers.
• The COVID-19 pandemic brought in a lot of changes pertaining to the buying approach of customers. The working-class population of the country adopted wearables, such as a smartwatch and wearable medical devices, to maintain health and fitness amidst work-from-home conditions. From the perspective of enterprises, the lockdown enacted by the country resulted in the shutdown of manufacturing facilities combined with strict restrictions on social movement. This impacted the overall operations of manufacturing facilities. The studied market is expected to grow as the consumer electronics industry increases in the reviewed market.