(MENAFN – GetNews) Wearable Technology Market Research Report 2020: Industry Size, Share, Trends, Growth, Sales, Revenue, Risk and Opportunity Assessment with Regional Analysis and Segmentation 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) – Forecast to 2022
Global Wearable Technology Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Risk and Opportunity Assessment, Country-level Analysis for Every Segment, Key Player’s Market Share Analysis, Competitive Landscape and Supply Chain Analysis.
The global wearable technology market comprises a host of key players. This includes names like –
Samsung Electronics Co., Ltd. (South Korea), Garmin Ltd. (U.S.), Xiaomi Inc. (China), Apple Inc. (U.S.), Qualcomm Technologies, Inc. (U.S.), Sony Corporation (Japan), Adidas AG (Germany), Google Inc. (U.S.), Lifesense Group (The Netherlands), Fitbit (U.S.), Jawbone (U.S.), Nike, Inc. (U.S.), Misfit, Inc. (U.S.) among others.
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Market Overview
The report published on the global wearable technology market revealed the growth to be at a notable pace of 16% during the forecast period. The valuation of the wearable technology market was further stated to reach a projected figure of USD 50 billion by 2022.
Wearables are one form of electronic tech that is integrated into various gadgets and can be worn on one’s body. The devices are used for the purpose of tracking different health-based information on a real-time basis. Wearable wristbands have been one of the most popular devices in recent years, especially due to the rising health concerns among individuals. Many companies like Apple, Jawbone, Fitbit, and others have launched these devices. These devices act as activity trackers and are immensely popular due to the growing trend of fitness across the globe. FitBit recently released a statement stating that more 14 million units of its smart fitness devices were sold back in 2018.
The demand for wearable technology has seen considerable growth in recent years due to increasing research and investment on the same. This has led to the introduction of various new product categories like ear wearables, smart clothing, and others. These new devices boast high-end technology and offer a sleek design that is favorable for daily usage. Off late, there has been a heightened focus on providing aesthetic design to devices in order to attract customers.
Although the technology is in its early years, the niche segments of the market are anticipated to garner long-term growth. Changing consumer lifestyle and preference and increasing need for advanced technologies in security and healthcare sectors are some of the most prominent factors behind the market’s potential growth.
Industry News
December 2019, researchers recently developed an all new way to fight jet lag by delivering a customized advice using smart wearable technology. This will enable travelers who go back forth across different time zones to get better quality of sleep.
Intended Audience
- Technology investors
- Consumer wearable manufacturers
- Healthcare-related product manufacturers
- Integrated device manufacturers (IDMs)
- Wearable electronics technology platform developers
- Original manufacturers (OEMs)
- Smart grid integrators
- Surface mount component device distributors and providers
- Research/Consultancy firms
Market Segmentation
The global wearable technology market has been segmented in terms of product, application, components, and technology.
By product, the market segments into smart clothing, wearable cameras, implants, neckwear, wristwear, and headwear and eyewear. The neckwear segment is narrowed down into smart jewelry. While the wristwear includes smart watch and fitness trackers. Elsewhere, the headwear and eyewear is divided into virtual reality and augmented reality. Among these, the wristwear segment of the product category holds the highest share percentage in the global market. Whereas, the smart clothing segment is anticipated to garner a fast paced growth in the coming years.
By technology, the market includes computer technologies, sensor technologies, networking technologies, and display technologies.
By application, the market segments into industrial and enterprise applications, fitness and wellness, healthcare, defense, and consumer electronics. Among these, the fitness and wellness application alongside the healthcare sector holds the potential to gain a positive growth in the market.
By components, the market is classified into sensing, battery, connectivity, memory and control.
Regional Analysis
The global market for wearable technology is distributed geographically across the following key regions: Latin America, Asia Pacific, Europe, North America, and the Middle East and Africa. North America is reported to be the leading regional player in the global wearable technology market. This is due to the rising awareness of the product and the prevalent concerns in regard to health and fitness. The market growth herein is expected to move in a positive direction in the forthcoming years. Similarly, Europe is primed to enjoy considerable growth and demand for wearable technology in the near future.
Study Objectives of Industrial Automation Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Wearable technology market.
- To provide insights about factors affecting the market growth.
- To analyze the Wearable technology market based porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment on the basis of product, technology, components and application.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Wearable technology
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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
3 Market Dynamics
3.1 Introduction
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
3.5 Market Restraints
4 Executive Summary
5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.2 Supply Chain Analysis
Continued……
List of Tables
Table 1 Wearable Technology Market, by Technology
Table 2 Wearable Technology Market, by Product
Table 3 Wearable Technology Market, by Component
Table 4 Wearable Technology Market, by Application
Table 5 Wearable Technology Market, by Regions
Table 6 North America Wearable Technology Market, by Technology
Table 7 North America Wearable Technology Market, by Product
Table 8 North America Wearable Technology Market, by Component
Continued….
List of Figures
Figure 1 Research Network Solution
Figure 2 Wearable Technology Market: by Technology (%)
Figure 3 Wearable Technology Market: by Product (%)
Figure 4 Wearable Technology Market: by Component (%)
Figure 5 Wearable Technology Market: by Application (%)
Figure 6 Wearable Technology Market: by Region
Figure 7 North America Wearable Technology Market, by Technology (%)
Figure 8 North America Wearable Technology Market, by Product (%)
Continued………
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