Wearable Technology Market is Surpassing the demand of Stationary Goods
Posted by Manoj Pandey on December 23rd, 2020
Wearable Technology Market Research Report
Wearable technology is a classification of electronic devices that can be embedded in clothing, worn as accessories, or implanted in the user’s body. The wearables use the sensors to connect with the person and help the users to achieve goals such as staying fit, tracking physical & mental health, and other activities. Several wearable technologies have expanded the access of the users to the information, both in terms of convenience & speed of access and the kind of information which can be accessed. The wearable technology, when operated in a body-centric network system, requires EMC testing to confirm that it can be used for vital signal and transmission without failing or making the other devices to fail.
To have an edge over the competition by knowing the market dynamics and current trends of “Wearable Technology Market,” request for Sample Report here
The major factors responsible for the growth of the global wearable technology market include the accelerating adoption of wearables across several application areas, including consumer applications, defense, and fitness, followed by the increasing number of mobile networks that are enabling the development of wearable technology. The rising technological advancement in the wearables, such as the implementation of the internet of things (IoT) and inclination towards the connected devices will create numerous growth opportunities in the market at the global level. In addition to this, the increasing incidences of chronic diseases and obesity is leading to a rising health concerns, thereby encouraging the adoption of wearable devices to track the physical activities and monitor the body. Moreover, increasing penetration of internet & smartphones, strong demand for next-generation displays in wearable devices, and several research & development activities are bringing innovations in the wearable technology market in the coming years. On the other end of the spectrum, the limited battery life of these wearable devices and the high initial cost of the technology are the two factors that will have a negative impact on the growing demand of the market.
Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report
Based on the product, the Headwear & Eyewear segment is anticipated to grow at a higher CAGR over the forecast period owing to the high adoption of the headwear & eyewear wearables among the consumers. In addition to this, the increasing penetration of virtual reality & augmented reality in various application areas is further fuelling the growth of this segment.
Based on the application, the Consumer Electronics segment is expected to increase at a higher compound annual growth rate during the forecast period owing to the rising implementation of wearable technology in consumer electronics. Moreover, the increasing adoption of technologically advanced products such as wearable scanners to enhance efficiency and speed is also a factor driving the market growth of this segment.
In case, any of your pain points areas are not covered in the current scope of this report, Request for Customization here
Based on the region, North America is anticipated to increase at a higher compound annual growth rate during the forecast period owing to the high adoption of wearable devices and the rising demand of the consumers for wearable technology. In addition to this, the large presence of several key players and increasing technological advancements are some other factors propelling the growth of the wearable technology market in this region.
Various notable players operating in the market include Apple Inc., Fitbit, Inc., Garmin Ltd., Xiaomi, Alphabet Inc., Samsung, Qualcomm Technologies, Inc., LG Electronics, Adidas AG, and Sony Corporation, among others.
The global wearable technology market has been segmented on the basis of type, product, technology, component, offering, application, and region. Based on the type, the market is segmented into wearable products & devices and wearable smart textile. The wearable smart textile is further categorized by type and function. The type segment is further categorized into active smart textiles, passive smart textiles, and ultra-smart textiles. The function segment is categorized into energy harvesting, sensing, thermoelectricity, luminescence & aesthetics, and others. Based on the product, the market is segmented into headwear & eyewear, wristwear, neckwear, footwear, bodywear, and other wearable technologies. The headwear & eyewear segment is further categorized into virtual reality headsets, augmented reality headsets, and others. The wristwear segment is further categorized into smartwatches and wristbands. The neckwear segment is further categorized into ties & collars and fashion & jewellery. The footwear segment is categorized into casual footwear and special-purpose footwear. The bodywear segment is further categorized into fashion & apparel, inner wear, and armwear & legwear. The other wearable technologies segment is further categorized into bodyworn cameras, ring scanners, and internables/implantable. Based on the technology, the market is segmented into display technology, computing technology, positioning technology, networking technology, and sensor technology. Based on the component, the market is segmented into positioning & networking components, power supply components, control components, sensing components, memory components, display & optoelectronic components, and interface components. Based on the offering, the market is segmented into software and services. Based on the application, the market is segmented into healthcare, consumer electronics, enterprise & industrial application, and other applications. The healthcare segment is further categorized into clinical applications and nonclinical applications. The consumer electronics segment is further categorized into infotainment & multimedia, fitness & sports, garments & fashion, and multifunction. The enterprise & industrial application segment is further categorized into logistics, packaging, & warehouse, and other industrial applications.
For detailed scope of the “Wearable Technology Market” report request a Sample Copy of the report
Key questions answered in this research report:
Global Wearable Technology Market by Type
Global Wearable Technology Market by Product
Global Wearable Technology Market by Technology
Global Wearable Technology Market by Component
Global Wearable Technology Market by Offering
Global Wearable Technology Market by Application
Global Wearable Technology Market by Region
Major Players Operating the Global Wearable Technology (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)
Like it? Share it!
About the AuthorManoj Pandey
Joined: May 6th, 2019
Articles Posted: 1