Technological Innovations Driving the Europe Smart Wearables Market

[Aarti Ghodke]

 

Europe Smart Wearables  Market Overviews

The Europe Smart Wearables Market is estimated to grow at a CAGR of 14.1% during the forecast period. Europe Smart Wearables Market is expected to reach US$ 103.47 Bn. in 2030 from US$ 41.09 Bn in 2023.

 

During the forecast period, the Smart Wearable Market in Europe is expected to rise at a CAGR of 14.1%. Smart wearables are gaining popularity because they allow for hands-free operation and access to data at any time of day. Apart from that, biometric functionality, GPS and mapping capability, and independent smartphone functioning are a few distinctive aspects of smart wearables, which are estimated to drive the market in European countries, in accordance with people's increasing disposable income.

 

The number of features available via smart wearables is developing in tandem with the growing number of connected cars in European countries. The global market for vehicle to everything (V to X) technology is estimated to reach USD 14,773 million by 2030, according to Goldman Sachs.

 

Furthermore, most automotive firms are collaborating with smart wearable vendors in the industry to better utilize the user's health data and offer a better driving experience. As part of their Fit & Healthy project, Garmin struck an important agreement with Daimler AG, a German automobile giant, to introduce wearable technology inside Mercedes-Benz vehicles.

Europe Smart Wearables  Market Scope and Methodology:

According to the WHO, the world elderly population will reach 2 billion by 2050 (World Health Organization). The UK's age structure, like that of many other countries, is evolving towards older ages. According to the Office for National Statistics, one in every four persons in the UK will be 65 or older by 2050, up from one in every five in 2019. Chronic diseases, falls, impairments, and other negative health consequences are more common among the elderly. Adults and older individuals have used smart wearable devices to solve some of the challenges associated with recognizing and controlling adverse health conditions.

 

Europe Smart Wearables  Market Regional Insights

The United Kingdom has one of Europe's major fitness markets, according to the Office for National Statistics (UK), with total revenue of around EUR 5.3 billion. The number of fitness facilities in the UK has been steadily increasing since 2012. According to the Sports Think Tank, the UK's total membership has surpassed 10 million, with the business valued more than GBP 5 billion. Furthermore, during the Covid-19 outbreak, many countries are exploiting the smart wearables' capabilities to monitor the health data of their citizens. Fitbit Wearables and Smartwatches were added to the Coronavirus list in April 2023. The German Center for Disease Control has invited users of smartwatches and fitness bands to contribute their health data in order to assist track the spread of the virus.

 

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 Europe Smart Wearables  Market Segmentation

Based on Product, the Europe Smart Wearables Market is segmented into neck-wear, foot-wear, wrist-wear, body-wear, eye-wear, and head-wear, and others. During the forecast period, the increased popularity of these gadgets among recreational fitness enthusiasts and professional athletes is expected to fuel demand for wellness and fitness products. Growing consumer awareness of the benefits of smart wearable consumer electronics, increased smartphone penetration, and rising disposable incomes are all estimated to benefit the market. Several market participants' R& D endeavors are anticipated to add to the industry's growth possibilities. However, concerns about data privacy, a high initial cost, and a short battery life could all threaten market growth during the forecast period.

 

Europe Smart Wearables  Market Key Players

8sense (Germany)
Ava (Switzerland)
Aucobo (Germany)
Elvie (U.K.)
Elitac (Netherlands)
Tespack (Finland)
iBreve (Ireland)
Lifee (Sweden)
Activinsights Ltd. (U.K.)
Polar Electro Oy (Finland)

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Key questions answered in the Europe Smart Wearables  Market are:

• What is Europe Smart Wearables ?
• What was the Europe Smart Wearables market size in 2023?
• What is the growth rate of the Europe Smart Wearables Market?
• Which are the factors expected to drive the Europe Smart Wearables market growth?
• What are the different segments of the Europe Smart Wearables Market?
• What growth strategies are the players considering to increase their presence in Europe Smart Wearables ?
• What are the upcoming industry applications and trends for the Europe Smart Wearables Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Europe Smart Wearables Market?
• Who are the leading companies and what are their portfolios in Europe Smart Wearables Market?
• What segments are covered in the Europe Smart Wearables Market?
• Who are the key players in the Europe Smart Wearables market?

 

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by Different Segment | 2024−2030
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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