Connected Devices and Wearables in Procurement Intelligence: Key Insights
The connected devices and wearables category is expected to grow at a CAGR of 14.6% from 2023 to 2030. North America accounts for the largest share of the category. The increasing consumer expenditure on personal care, as well as the growing acceptance of wearable technology, are driving category growth. Major businesses are implementing numerous tactics, such as mergers and acquisitions, strategic alliances and agreements, and the development, evaluation, and release of new products. For instance, In September 2022, Fitbit upgraded its smartwatch range which has the latest aesthetics and functionality. Head-mounted Displays (HMDs) provide information to the wearer in front of their eyes, allowing for hands-free operation. They can also be used to capture images and videos and to operate other devices. HMDs are used in training and simulation in fields, such as aviation, medicine, and the military. The integration of technologies such as Augmented Reality (AR) and Virtual Re...