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Allied Market Research

Hand and Wrist Devices Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

A11134
Pages: NA
Jun 2021 | 42 Views
 
Author(s) : Onkar Sumant
Tables: NA
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The technology has emerged as a recent trend and also utilizes electronics to the daily activities and fits into different lifestyles and can be worn on any part of the body. There are various devices that can be used as a smartwatch, fitness trackers, exoskeleton, and medical devices. These hand and wrist devices are used to access information through automatic storage, connected devices, and activity tracking, which helps in the rise in the attention towards the healthcare and enhances their performance. Additionally, surge in technological convergence, stress-free access to information from an ERP system using gesture, touch, voice commands, presence of internet mobility, and ambient display would drive the need for these devices in the enterprise. There are multiple benefits offered by these devices such as heart monitoring, GPS tracking, and notification alert, which further supplements wearable devices.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Product, Technology, Age, Channel of Distribution and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa

  Companies covered

Major players analyzed include Fitbit, Inc., Garmin Ltd., Sony Corporation, Adidas AG., Nike, Inc., Huawei Technologies Co., Ltd., LG Electronics Inc., Motorola Solutions Inc., Samsung Electronics Co., Ltd., and Apple Inc.


COVID-19 scenario analysis:

The demand for medical devices is rising due to growth in the number of infected population. There are various medical devices that are used such that the infected population can be given utmost care, which includes mainly respiratory support devices such as life-support machine, atomizer, oxygen generator, and various display monitors that can be used during primary clinical treatment. Surge in population who are inclined for their protection have started using personal protective equipment such as eyeglasses, gloves and masks to prevent the spread of various diseases. The medical professionals and the civil population also require these sorts of medical equipment for protection from the infection. The manufacturers of this equipment are expected to experience higher earnings in the current scenario.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The major factors that are expected to help the market grow include increase in inclination toward better quality of life and rise in number of disorders caused due to unhealthy lifestyle. Furthermore, the surge in the disposable income and rise in the living standard are anticipated to boost the industry in the coming years. However, increase in security concerns and risk of data breaching may hinder the industrial growth during the forecast period.

New product advancements to flourish the market

In May 2020, Kerala State Drugs and Pharmaceuticals Limited, designed Sanitizer Bands, which can be worn on the wrists. The approval is said to be awaited from Shree Chitra Tirunal Institute for the Medical Sciences and Technology, which has been developing various innovative technologies for coronavirus diseases-2.

In April 2019, EXOS launched EXOS Wrist DK2, which is a wrist-based wearable haptic device. The product is anticipated to gain attention of majority of the civil population and healthcare professionals, which would boost the industry in the forecast period.

Surge in incidences of the diseases that need to be monitored to boost the market

According to estimates given by the World Health Care Organization, the cardiovascular diseases are among the number one cause of diseases globally. There are about 17.9 million deaths caused due to this disease and hence, is anticipated to help the market of hand and wrist devices to grow in the forecast period.

These are the group of disorders of the heart and blood vessels and also include coronary cerebrovascular disease, heart disease, rheumatic heart disease and other conditions. There are four out of five deaths that are caused due to heart attacks and strokes, and the estimates suggests that one-third of these deaths occur prematurely in people under 70 years of age.

Key segments covered:

Segments

Sub-segments

  Product

  • Watches
  • Trackers
  • Accessories

  Technology

  • GPS tracker
  • Pulse Oximeter
  • Heart Rate Monitors
  • Pace Guidance
  • Color Mapping
  • Voice Control
  • Interior Recording
  • Others

  Age

  • Pediatric
  • Adult
  • Geriatric

  Channel of Distribution

  • Retail Stores
  • Online Stores
  • Others


Key benefits of the report:

  • This study presents the analytical depiction of the global hand and wrist devices industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global hand and wrist devices market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global hand and wrist devices market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global hand and wrist devices market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the hand and wrist devices market research report:

  • Which are the leading market players active in the hand and wrist devices market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in tasking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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