Wearable Technology Market Research Report

 

Global Wearable Technology Market

The GMI Research forecasts that the wearable technology market is witnessing an upsurge in demand over the forecast period. This is mainly due to the growing adoption of wearables across various application areas, such as defense, consumer applications, and fitness, along with the rising number of mobile networks that are supporting the expansion of wearable technology.

Introduction of the Wearable Technology Market:

Wearable technology refers to a category of electronic devices that are embedded in clothing, worn as accessories, or implanted in the user's body. These devices usually use the sensors to connect with the person and help the users to achieve goals such as tracking physical & mental health, staying fit, and other activities. Various wearable technologies have increased the access of the users to the information, both in terms of convenience & speed of access and the type of information that can be sent. When operated in a body-centric network system, wearable technology needs confirmation by EMC testing that it can be used for sending vital signal and transmission without failing or making the other devices fail.

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Wearable Technology Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

The growing adoption of wearables across various application areas, such as defense, consumer applications, and fitness, along with the rising number of mobile networks that are supporting the expansion of wearable technology are certain factors driving the growth of the global wearable technology market size. The increasing technological advancement in wearables such as the application of the internet of things (IoT) and the significant shift towards the devices which are connected, will bring various growth opportunities in the market globally. Moreover, the rising cases of chronic diseases and obesity are resulting in increasing health concerns, thus promoting the adoption of wearable devices to control physical activities and track the body. Furthermore, growing penetration of the internet & smartphones, rising demand for next-generation displays in wearable devices, and various R&D activities are creating innovations in the wearable technologies market during the forecast period. On the other hand, the factors hindering the growth of the market include the short battery life of wearable devices and the high initial cost of the technology.

Based on the region, North America is expected to grow at a higher CAGR during the forecast period due to the increasing adoption of wearable devices and the growing demand of the consumers for wearable technology. Additionally, the strong presence of various key organizations and growing increasing technological advancements are the factors boosting the growth of the wearable technology market in this region.

Key Players of the Global Wearable Technology Market:

·        Apple Inc.

·        Fitbit, Inc.

·        Garmin Ltd.

·        Xiaomi

·        Alphabet Inc.

·        Samsung

·        Qualcomm Technologies, Inc.

·        LG Electronics

·        Adidas AG

·        Sony Corporation

Wearable Technology Market Segmentation:

Segmentation by Type:

·        Wearable Products & Devices

·        Wearable Smart Textile

o    Type

§   Active Smart Textiles

§   Passive Smart Textiles

§   Ultra-Smart Textiles

o    Function

§   Energy Harvesting

§   Sensing

§   Thermoelectricity

§   Luminescence & Aesthetics

§   Others

Segmentation by Product:

·        Headwear & Eyewear

o    Virtual Reality Headsets

o    Augmented Reality Headsets

o    Others

·        Wristwear

o    Smartwatches

o    Wristbands

·        Neckwear

o    Ties & Collars

o    Fashion & Jewelry

·        Footwear

o    Casual Footwear

o    Special-Purpose Footwear

·        Bodywear

o    Fashion & Apparel

o    Inner Wear

o    Armwear & Legwear

·        Other Wearable Technologies

o    Bodyworn Cameras

o    Ring Scanners

o    Internables/Implantables

Segmentation by Technology:

·        Display Technology

·        Computing Technology

·        Positioning Technology

·        Networking Technology

·        Sensor Technology

Segmentation by Component:

·        Positioning & Networking Components

·        Power Supply Components

·        Control Components

·        Sensing Components

·        Memory Components

·        Display & Optoelectronic Components

·        Interface Components

Segmentation by Offering:

·        Software

·        Services

Segmentation by Application:

·        Healthcare

o    Clinical Applications

o    Nonclinical Applications

·        Consumer Electronics

o    Infotainment & Multimedia

o    Fitness & Sports

o    Garments & Fashion

o    Multifunction

·        Enterprise & Industrial Application

o    Logistics, Packaging, & Warehouse

o    Other Industrial Applications

·        Other Applications

Segmentation by Region:

·        North America

o   United States of America

o   Canada

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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