European Wearable Technology Market — Advanced Technology Growing at a CAGR of 4

Europe wearable technology market was valued at USD 308.69 million in 2013, growing at a CAGR of 42.1% from 2014 to 2019. Wearable technology market is a niche market with current domination of a few players. As the technology is new and there are few players, the prices of the products are high.

 

However, the applications of wearable devices are currently spanning across sectors such as fitness and wellness, infotainment, healthcare and medical and industrial and military. Additionally, the applications of these new technology products are expected to increase with further development in the devices, over the forecast period.

 

The wearable technology market is segmented by application into fitness and wellness, infotainment, healthcare and medical, and industrial and military. Various products such as smart clothing and smart sports glasses, activity monitors, sleep sensors, smart watches, augmented reality headsets, and monitors in the wearable technology market are further included under these applications. These are further segmented into products with several features.

 

For example, outdoor activity watches have been segmented into watches with altimeter, barometer and compass. Other products have been further segmented and covered in the report. Among these, the fitness and wellness segment accounted for the highest market share in 2012 and is expected to maintain its position throughout the forecast period due to rising adoption of wearable technology products.

 

 

Germany acquired the largest market for wearable technologies with a share of 32% in 2012. Technological innovations presented through various conferences on wearable technologies have created awareness and increased its adoption in the country.

 

An example of such conference is Wearable Technology Conference (WTC) in Germany conducted by Wearable Technologies Service GmbH, a key player in the European market. In addition, developments are taking place in the field of self powering wearable devices in the country.