Industry

Wearable Technology Market 2019 Global Analysis, Industry Size, Share, Trends, Application Analysis and Growth Opportunities Forecast to 2023

Press Release

Wearable technology Market is growing rapidly over 16% of CAGR and is expected to reach at USD 50 billion by the end of forecast period of 2018-2023. Global Wearable Technology Market, By Product (Wristwear, Headwear & Eyewear, Neckwear, Wearable Cameras), by Technology (Computing, Display, Networking, Sensor), by Components (Control, Memory, Battery, Sensing, Connectivity), by Application (Fitness & Wellness, Consumer Electronics, Healthcare) by Forecast to 2022

Major Key Player:

The prominent players in the wearable technology market are- Adidas AG (Germany), Xiaomi Inc. (China), Apple Inc. (U.S.), Google Inc. (U.S.), Garmin Ltd. (U.S.), Fitbit (U.S.), Jawbone (U.S.), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), Qualcomm Technologies, Inc. (U.S.), Nike, Inc. (U.S.), Lifesense Group (The Netherlands),  Misfit, Inc. (U.S.)  among others.

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Market Highlights:

In this rapidly changing environment, technology needs are ever increasing. The market trend towards the higher requirement of smart gadgets, higher accuracy are driving the wearable technology market. Innovation is a key driver of wearable technology market. The market trend indicates that wearable technology has become a fashion statement.

The study indicates that many organizations are largely investing in wearable technologies. Observing the current trend and sales the study indicates a sudden hike in wearable technology market. The wearable technology has many benefits as ability to retrieve different physiological parameters, simplify daily functions, and others which boosts the market. Whereas the higher costs of the wearable technology devices are restraining the wearable technology market. The battery life and usability issue are few restraining factors for the wearable technology market.

The Wearable technology Market is growing rapidly over 16% of CAGR and is expected to reach at USD ~50 billion by the end of forecast period.

Wearable technology Market Segmentation

The wearable technology market has been segmented on the basis of product, technology, components and application. Looking through the product segment it’s been observed that wristwear products are dominating the wearable technology market where as the smart clothing’s products are expected to show a substantial increase in Wearable technology market. The wearable technology market is dominated by consumer electronics sector. However the fitness and wellness sector and the healthcare sector are showing a positive growth towards wearable technology.

Recently, it has been observed that many companies are developing new wearable technologies for the smart clothing segment. Google Inc. is going to launch a new wearable technology named Jacquard, it a smart- jacket. Many other companies like Nike, Adidas have their wearable products like smart t-shirts, smart shoes and others.

Major Key Player:

The prominent players in the wearable technology market are- Adidas AG (Germany), Xiaomi Inc. (China), Apple Inc. (U.S.), Google Inc. (U.S.), Garmin Ltd. (U.S.), Fitbit (U.S.), Jawbone (U.S.), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), Qualcomm Technologies, Inc. (U.S.), Nike, Inc. (U.S.), Lifesense Group (The Netherlands),  Misfit, Inc. (U.S.)  among others.

Market Research Analysis:

Regional analysis for Wearable technology market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region would account for larger share in wearable technology market followed by Europe. It has been observed that North America region has technological developments and IT modernization which has resulted in the growth of wearable technology market.

The study reveals that Asia-Pacific region is expected to have a significant growth in wearable technology market by the forecast period. Asia-Pacific countries like China, India and Korea have maximum smartphone penetration which is the primary growth driver for the Asia-Pacific region.

Segments:

Wearable technology is market is segmented on the basis of product, technology, components and application.

Wearable technology market by Product:

  • Wristwear (Smart watch, fitness trackers)
  • Headwear and Eyewear (Augmented reality, virtual reality)
  • Neckwear (Smart jewelry)
  • Smart Clothing
  • Wearable cameras
  • Implants

Wearable technology market by Technology:

  • Computing Technologies
  • Display Technologies
  • Networking Technologies
  • Sensor Technologies

Wearable technology market by Components:

  • Control
  • Memory
  • Battery
  • Sensing
  • Connectivity

Wearable technology market by Application:

  • Fitness & Wellness
  • Consumer electronics
  • Healthcare
  • Defense
  • Enterprise and industrial applications

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Table of Contents

1 Market Introduction

1.1 Introduction

1.2 Scope of Study

1.2.1 Research Objective

1.2.2 Assumptions

1.2.3 Limitations

1.3 Market Structure

2 Research Methodology

2.1 Research Network Solution

2.2 Primary Research

2.3 Secondary Research

2.4 Forecast Model

2.4.1 Market Data Collection, Analysis & Forecast

2.4.2 Market Size Estimation

Continues…

List of Tables

Table 1 Wearable Technology Market, By Technology

Table 2 Wearable Technology Market, By Product

Table 3 Wearable Technology Market, By Component

Continues…

List of Figures

Figure 1 Research Network Solution

Figure 2 Wearable Technology Market: By Technology (%)

Figure 3 Wearable Technology Market: By Product (%)

Continues…

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