Market Share of Wearable Computing Devices Industry
The wearable computing devices market is fragmented and highly competitive. Post-COVID-19 pandemic, people became more cautious about health and fitness, which accelerated the demand for fitness wearables in the healthcare sectors. Industry 4.0 is revolutionizing the services of every sector, be it manufacturing, healthcare, banking, and others. These technical advancements are creating a robust end-user market for wearables as well. The rising disposable income of consumers is creating huge market opportunities in developing regions. Also, as many new players are entering this market, the competition is increasing in the market. The key players include Fitbit Inc., Apple Inc., and Adidas AG.
In January 2022, Matterport announced its partnership with Retail VR (a French virtual reality developer). By adopting this immersive technology, Retail VR can boost retail and eCommerce campaigns for global brands. With digital twin solutions, the company can give its shoppers high-quality digital scans of physical stores.
In December 2022, Meta acquired Netherlands-based 3D smart glass maker Luxexcel. The latter is proficient in designing elements required for an augmented reality (AR) experience within a prescription lens, such as holographic film and projectors. Meta is working on the next level of VR headset that would deliver high-resolution mixed reality to blend virtual objects into the physical environment around the users. Luxexcel's 3D-printed prescription lenses can be used for this.
In February 2023, Wellstar Healthcare collaborated with Moth+Flame, a VR communication technology developer. The training provided by Moth+Flame reduced the anxiety levels around difficult conversations by 57%.
In February 2023, the Indian wearable brand Gizmore partnered with Optiemus Electronics Limited to manufacture nearly 1 million smartwatches annually.
Wearable Computing Devices Market Leaders
Apple Inc.
Samsung Electronics Co. Ltd
Garmin Ltd.
Fitbit Inc.
Fossil Group Inc.
*Disclaimer: Major Players sorted in no particular order
