Wearable electronics is projected to experience accelerated growth in retail volume terms over the forecast, driven by robust consumer interest in smart wearables. By contrast, basic activity bands is expected to see further declines, as consumers transition to the more advanced devices with greater functionality, connectivity and tracking, as well as apps that are compatible with smartphone ecosystems.
The landscape for wearable electronics is expected to become more competitive over the forecast period as more consumer electronics brands look to get involved in this rapidly expanding market. Google, for example, launched its first smartwatch, the Pixel Watch, in late 2022, which included “health by Fitbit” functions such as heart rate tracking and six free months of Fitbit Premium services.
As the population of older adults continues to grow in Canada, there are significant opportunities for health monitoring and assistance products and services. Activity watches and smartwatches with health monitoring capabilities can monitor heart rate, breathing patterns, body temperature, aerobic exertion, and other metrics, as well as help older people to monitor current health conditions and assist in the maintenance of fitness routines.
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Understand the latest market trends and future growth opportunities for the Wearable Electronics industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Electronic devices designed to be worn by the user, typically on the wrist or head. The category only covers products designed for retail sale and consumer usage. Products designed for use in medical, military and any other profession such as diving are excluded.See All of Our Definitions
This report originates from Passport, our Wearable Electronics research and analysis database.
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