Short Battery Life, Security Concerns Challenging Wearables: Report
The global wearable technology market, which generated $54.8 billion in 2020, is expected to reach $184.4 billion by 2031, with a compound annual growth rate of 12.8% from 2022 to 2031, said Allied Market Research Wednesday. The entry of large…
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players, portable and convenient usage and an increase in health awareness will drive the market, though limited battery life and security concerns will check growth, it said. The industry is “steadily recovering” from COVID-19 supply chain disruptions, said the report.