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 connects with the person and surrounding environment which results in quick response and better information with respect to the environment. The study reveals a trend of rise in the number of smart and innovative products in the near future which is responsible for growth the wearable technology market. The wearable technology has many advantages as hand-free user experience, personalized information, personal assistance and others. The battery life and usability issue are the major factors restraining the wearable technology market.
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Wearable technology Market Key Player:
Market Research Future (MRFR) recognizes the following companies as the key players in the Wearable technology Market: – 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.
Wearable technology Market Segmentation
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
Wearable technology market by Technology:
- Computing Technologies
- Display Technologies
- Networking Technologies
- Sensor Technologies
Wearable technology market by Components:
Wearable technology market by Application:
- Fitness & Wellness
- Consumer electronics
- Enterprise and industrial applications
itness and wellness sector and the healthcare sector are showing a positive growth towards wearable technology.
Wearable technology Market Regional Analysis
The regional analysis of wearable technology component market is done for North America, Europe, Asia Pacific, and the rest of the world. North America is expected to account for the largest market share of the wearable fitness technology market during the forecast period. The increasing awareness about the latest advances in technology, new products, and adoption of the wearable technology components is contributing to the increasing ownership of wearables. Furthermore, the market in this region is driven by high disposable income of consumers which when coupled with the health awareness and willingness to maintain a healthy lifestyle, can accelerate the adoption of wearable technology components in the coming years.
Europe is also projected to register a considerable growth in the wearable technology component market during the forecast period. A number of innovations are being introduced in Europe, which is driving the demand for wearable technology in the region. Asia Pacific is projected to have a positive growth during the forecast period, due to the growing population in China, Japan, and India, which is receptive to the latest technology trends.
- Technology investors
- Consumer wearable manufacturers
- Healthcare-related product manufacturers
- Integrated device manufacturers (IDMs)
- Wearable electronics technology platform developers
- Original manufacturers (OEMs)
- Smart grid integrators
- SMT providers
- Research/Consultancy firms
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
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
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