The extensive report on ‘wearable devices market’ that offers qualitative information about prevailing trends and a detailed analysis of the growth trajectory of this industry. It also includes a study of the historical data and detailed statistics that will help determine the future scope of the industry in terms of commercialization opportunities.
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North America wearable devices market is expected to dominate global demand over the forecast period owing to technological developments. Asia Pacific is anticipated to exhibit substantial growth due to low production costs in India and China. UK and Germany is estimated to lead the European industry owing to flourishing innovations in the region.
The wearable devices industry can be segmented in terms of product as well as application. In terms of product, the industry can be segregated as eye wear, wrist & finger wear, body wear, foot wear, neck wear and others. Based on application, the industry can be segmented into military, consumer, enterprise & industrial and healthcare & medical.
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Consumer application is further segregated into infotainment & media as well as fitness & sports. It include device such as heart rate monitors, activity monitors, smart textiles, smart watches, smart clothing and smart glasses.
Wearable devices market is anticipated to exceed USD 12 billion by 2023 growing at a CAGR of over 24% from 2016 to 2023. Rising demand for sophisticated devices combined with innovative features is expected to drive the industry demand. Advent of various eye gear as well as wrist gear with advanced technology specifications is estimated to propel industry growth.
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The global wearable devices market share is somewhat fragmented on a broad level with participants focusing on application specific solutions. Potential market participants in fitness & wellness sector include Jawbone, Adidas AG, Fitbit, Nike Inc., Timex Group USA Inc., Beurer and Oregon Scientific and BodyMedia among others. Key industry players in the infotainment segment include Sony Corp., Samsung, LG Corp., Motorola, Google Inc., Qualcomm, Martian, Pebble as well as GoPro among others. Major industry players in the healthcare & medical sector comprise Dexcom, Cardionet, Alive Technologies, LifeWatch, Abbot and Medtronic among others. Major vendors in industrial and military segment involves MicroVision, SAP, Eurotech and Quantum 3D among others.