Wearable Technology Market to reach USD 35.48 bn by 2024, Alphabet Inc. and Apple Inc. emerge as Key Contributors to growth
Technavio has been monitoring the wearable technology market and it is poised to grow by $ 35.48 bn during 2020-2024, progressing at a CAGR of over 13% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201013005187/en/
Technavio has announced its latest market research report titled Global Wearable Technology Market 2020-2024 (Graphic: Business Wire)
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19
Frequently Asked Questions:
What are the major trends in the market?
Emergence of hybrid smartwatch market is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 12.70% and the incremental growth of the market is anticipated to be $ 35.48 bn.
Who are the top players in the market?
Alphabet Inc., Apple Inc., Fossil Group Inc., Garmin Ltd., Huawei Investment & Holding Co. Ltd., LG Electronics Inc., Polar Electro Oy, Samsung Electronics Co. Ltd., Vuzix Corp., and Xiaomi Corp., are some of the major market participants.
What is the key market driver?
The popularity of wearable devices as a payment method is one of the major factors driving the market.
How big is the APAC market?
The APAC region will contribute 40% of the market share.
Buy 1 Technavio report and get the
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Alphabet (GOOGL) one of those stocks right now? By taking a look at the stock’s year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Alphabet is one of 614 companies in the Computer and Technology group. The Computer and Technology group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. GOOGL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for GOOGL’s full-year earnings has moved 8.75% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the most recent data, GOOGL has returned 8.68% so far this year. In comparison, Computer and Technology companies have returned an average of 21.95%. This means that Alphabet is performing better than its sector in terms of year-to-date returns.
Breaking things down more, GOOGL is a member of the Internet – Services industry, which includes 50 individual companies and currently sits at #180 in the Zacks Industry Rank. On average, this group has gained an average of 16.19% so far this year, meaning that GOOGL is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should