Wearable Security Device Market Higher Mortality Rates by 2027

Posted by Harsh on June 13th, 2022

Market Analysis 

The global wearable security device market is likely to touch USD 6 billion at a 17% CAGR in the forecast period 2020- 2027, according to the latest Market Research Future (MRFR) analysis.  The smart wearable devices are akin to other smart devices with connectivity along with an additional feature/process to track and monitor the health of a person. Along with being used in monitoring, the data gathered through these devices are again used for preventive and maintenance and analytics. They are mostly used in the military sector where a person has to move through critical communication sans losing connectivity. A key benefit of using these devices includes calling and messaging services regarding tracking applications, real-time health monitoring, and emergency services. 

Various factors are fuelling the global wearable security device market share. As per the recent MRFR market estimates, such factors include the increasing use during COVID-19 pandemic, increase in government investments, increase in wearable device users, growing need for fitness and health wearables worldwide, surge in need for IoT devices, growing need for smart devices in the healthcare sector, and higher adoption of internet of things. 

On the contrary, the high price of wearable security device may impede the global wearable security device market growth over the forecast period.

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Wearable Security Device Market Segments

The MRFR report throws light on an inclusive segmental analysis of the global wearable security device market based on application, operating system, connectivity, and product type. 

By product type, the global wearable security device market is segmented into eyewear, smart clothes, smartphones, smart shoes, smart jewellery, and smartwatches. Of these, smartphones and smartwatches will lead the market over the forecast period. 

By connectivity, the global wearable security device market is segmented into RFID, Bluetooth, Wi-Fi, and others. Of these, Bluetooth and Wi-Fi will dominate the market over the forecast period. 

By operating system, the global wearable security device market is segmented into Android, iOS, and others. Of these, the Android operating segment will spearhead the market over the forecast period. 

By application, the global wearable security device market is segmented into biometric recognition, tracking applications, emergency service applications, military applications, and others. Of these, military applications will have the lions share in the market over the forecast period. 

Regional Analysis 

By region, the global wearable security device market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW). Of these, North America will have the lions share in the market over the forecast period. Higher adoption of robotics and smart device technology, the presence of several prominent players that develop the latest technology related to wearable security, many start-ups getting involved in the development of this wearable technology, and collaboration and partnership with prominent players are adding to the global wearable security device market growth in the region. The US has the utmost market share.  

In Europe, the global wearable security device market is predicted to have the second-largest share over the forecast period for technological advances and the ease of operation of such wearable security devices. 

Key Players 

The prominent players profiled in the global wearable security device market report include Qualcomm Connected Experiences, Inc (U.S.), Vuzix (U.S.), Sony Corporation (Japan), Laster Technologies (France), GeoPalz, LLC (U.S.), Geo Group Inc (U.S.), Oath Tech Network Aol Tech (U.S.), Fujitsu Ltd (Japan), FINIS, Inc. (U.S.), Fin Robotics, Inc (U.S.), LG Electronics (South Korea), Intel Corporation (U.S.), Garmin Ltd (Switzerland), Epson (Japan), Carré Technologies Inc (Canada), Amulyte, Inc (U.S.), Microsoft Corporation (U.S.), Samsung Electronics (South Korea), Fitbit (U.S.), Google LLC (U.S.), and Apple, Inc (U.S.). 

The global wearable security device market is fragmented and competitive with the presence of multiple domestic and international industry players. These players have used assorted strategies to stay at the forefront and also cater to the surging needs of the esteemed customers, such as collaborations, partnerships, contracts, geographic expansions, new product launches, joint ventures, and more. Additionally, these players are also making heavy investments in research and development activities for strengthening their portfolios and also creating a hold in the market.

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