Wearable Technology Market share predicted rise in CAGR to double-digit by 2032.
Wearable Technology Market Overview:
The wearable technology market has experienced substantial growth over the past few years and shows no signs of slowing down. Valued at USD 53.1 billion in 2023, the industry is projected to grow from USD 69.6672 billion in 2024 to an astounding USD 466.5 billion by 2032. This growth corresponds to a compound annual growth rate (CAGR) of 26.83% during the forecast period. The rapid expansion of this market can be attributed to several key drivers, including the rising popularity of the Internet of Things (IoT), increasing prevalence of obesity and other chronic diseases, and the widespread adoption of smartphones and mobile applications.
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Wearable Technology Market Overview:
The wearable technology market has experienced substantial growth over the past few years and shows no signs of slowing down. Valued at USD 53.1 billion in 2023, the industry is projected to grow from USD 69.6672 billion in 2024 to an astounding USD 466.5 billion by 2032. This growth corresponds to a compound annual growth rate (CAGR) of 26.83% during the forecast period. The rapid expansion of this market can be attributed to several key drivers, including the rising popularity of the Internet of Things (IoT), increasing prevalence of obesity and other chronic diseases, and the widespread adoption of smartphones and mobile applications.
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4 months ago
