Wearables Market Size in US to Grow by USD 6.85 Billion, Growing Preference for Wearables Electronic Devices for Payment to Drive Growth – Technavio – QNT Press Release

NEW YORK, Nov. 22, 2022 /PRNewswire/ — The wearables market size in the US is set to grow by USD 6.85 billion.In addition, the growth momentum of the market will accelerate at a CAGR of 8.92% from 2021 to 2026. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment . Request a FREE Sample Report

Wearables Market in US 2022-2026: Driver and Challenge

The growing preference for wearables electronic devices for payment is driving the market’s growth. Wearable electronic device manufacturers are integrating Near-field communication (NFC) technology to enable contactless payment by a direct tap and point of sale (POS) terminal. The rising adoption of contactless payment is increasing the number of ong partnerships market participants. Vendors are integrating the contactless payment feature into their offerings, which is expected to positively impact the wearables market growth in the US.

The Increasing concerns over data security and privacy related to these devices are challenging the market growth. Large volumes of data are stored and accessed through these devices. The data generated by smartwatches can be easily decoded using a wireless interceptor. In addition, several wearable electronic devices are embedded with NFC, which enables store them to information and facilitate contactless transactions and data exchanges. Thus, the risk of security and privacy breach is expected to limit the growth of the market during the forecast period.

Technavio has identified key trends, drivers, and challenges in the report, which will help vendors improve their strategies to stay ahead of their competitors. Buy the Report

Wearables Market in US 2022-2026: Segmentation
  • Product
    • Smartwatches: The smartwatches segment will be a significant contributor to market growth during the forecast period. The increase in demand for smartwatches in developing countries is driving the growth of this segment. Moreover, the rise in the production of watches has increased the demand for smartwatches , which, in turn, has propelled the growth of the smartwatch market in the US.
    • Wireless Headphones
    • HMDs
    • Smart Bands
    • Others
  • Distribution Channel
    • Online
    • offline

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions – Download a FREE PDF Sample Report

Wearables Market in US 2022-2026: Vendor Analysis and Scope


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