$1.8bn
$XX.Xm
3,469
38
$XXX.Xm
The integration of wearable devices into healthcare has been expanding significantly, driven by advancements in sensor technology, data analytics and an increased focus on health monitoring and chronic disease management. This surge in adoption spans not only healthcare settings but also extends to individual users who use the devices for fitness tracking and maintaining connectivity through smartwatches and fitness bands. Additionally, the processing capabilities of wearable devices have improved, allowing for sophisticated tasks such as extensive data collection and real-time analysis to be performed efficiently.
Industry revenue has grown at a CAGR of 10.1 % over the past five years, to reach an estimated $1.8bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Garmin Ltd. | 211.5 | 44.0 | 20.8 | |
Qualcomm Inc. | 180.2 | 61.4 | 34.1 |
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Industry revenue is measured across several distinct product and services lines, including Smartwatches, Wristbands and Other. Smartwatches is the largest segment of the Wearable Device Manufacturing in the US.
Smartwatch demand is tied to smartphone adoption
Companies in the wearable device manufacturing industry produce smart electronic devices designed to be incorporated into clothing or worn on the body. These devices, such as smartwatches, fitness trackers and health monitoring systems, offer functionalities like tracking physical activity, monitoring health metrics and providing connectivity features.
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NAICS 33593 - Wearable Device Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Wearable devices are increasingly being used to track fitness and health data, like heart rate, steps taken and sleep quality. This data can be used to improve users' health ...
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Almost one in three Americans uses a wearable device, according to the Health Information National Trends Survey. Among wearable device users, more than 80% would share infor...
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The wearable device industry is highly competitive, with major players like Apple, Samsung, Fitbit and Garmin vying for market share. This intense competition drives continuo...
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Garmin received six CES 2024 Innovation Awards, recognizing its excellence in consumer technology. The awards highlight Garmin's advancements in wearable devices and fitness ...
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Fluctuations in exchange rates can impact the level of trade in the industry. A stronger US dollar makes imported components cheaper but can make US exports more expensive in...
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Production costs, including raw materials, labor and manufacturing expenses, impact profitability. Fluctuations in the prices of essential components like sensors, batteries ...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Wearable Device Manufacturing in the US industry in United States is $1.8bn in 2024.
There are 38 businesses in the Wearable Device Manufacturing in the US industry in United States, which has grown at a CAGR of 11.6 % between 2019 and 2024.
The market size of the Wearable Device Manufacturing in the US industry in United States has been growing at a CAGR of 10.1 % between 2019 and 2024.
Over the next five years, the Wearable Device Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Wearable Device Manufacturing market in United States are Garmin Ltd. and Qualcomm Inc.
Manufacturing smartwatches and Manufacturing fitness trackers are part of the Wearable Device Manufacturing in the US industry.
The company holding the most market share in United States is Garmin Ltd..
The level of competition is high and increasing in the Wearable Device Manufacturing in the US industry in United States.