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Wearable Technology Market by Product, Type, Application, and Geography - Global Forecast to 2022

Wearable Technology: Global Forecast until 2022

  • January 2017
  • 201 pages
  • ID: 4664172
In this report:
The wearable technology market for the enterprise and industrial application is expected to register a shipment of ##.## million units by 2022, at the highest CAGR of ##.##% during the forecast period as wearable technology products have massive applications in industrial segments such as car manufacturing, logistics, and warehouse industry.

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The wearable technology market is forecasted to reach ~$51.6B by 2022, at a compound annual growth rate of ~15.5 percent between 2016 and 2022. Among the main factors propelling the increase of the wearable technology market are consumer preferences for sophisticated gadgets, growing increase prospects of next-generation displays in wearable devices, and increasing popularity of Internet of Things and connected devices. Nevertheless, the shorter life cycle of the consumer electronics market would hamper the global rise of the wearable technology market.

"Infotainment and multimedia forecasted to cover maximum share of the wearable technology market"

The main products in the infotainment contain smart watches, augmented reality and virtual reality headsets, multimedia actors with computing facilities, and smart goggles among others. The use of AR and VR in the field of entertainment and video gaming would benefit the wearable technology market to grow. For example, Sony Corporation introduced the video PlayStation with the VR glasses. These factors would drive the increase of the wearable technology market for infotainment and multimedia.

"Smartwatch forecasted to grow at the maximal rate in the product segment of the wearable technology market"

Wristbands and smartwatches are wearable computing devices, which are mainly used for tracking the wellness of the user. The smartwatch is a sophisticated and fashionable wearable device. This device could be connected to mobiles phones with different apps for displaying the data over the phone. Main companies including Apple, Incorporated, Samsung Electronics, and Fitbit, Incorporated among others have developed such products, which satisfy the customer's need for fitness and healthcare. Therefrom, the consumers are more inclined to purchase such smartwatches.

"The whole Americas and Asia-Pac are the main regions for wearable technology market"

The whole Americas is a main hub for technological innovations and is an early adopter of new technologies. Elements such as the presence of main firms, the growing demand for wearable devices (fitness bands and activity trackers), and the increasing popularity of devices established on augmented reality and virtual reality technologies are driving the rise of the wearable technology market in this area. In the Asia Pacific (APAC) area, sectors including consumer electronics, enterprise and industrial, healthcare and textile, among others contribute significantly to the increase of the wearable technology market.

The break-up of the profiles of primary members taking part for the study has been provided below:

- By Company Type: Tier 1 - 43.0 percent, Tier 2 - 36.0 percent, and 1/3 3 - 21.0 percent

- By Designation: C-suite executives - 38.0 percent, Directors - 22.0 percent, and Others - 40.0 percent

- By area: Americas - 45.0 percent, Europe - 17.0 percent, APAC - 30.0 percent, and rest of the world - 8.0 percent

The report profiles the top actors in the wearable technology market with their respective market share review. The main players decribed in this business report are Fitbit, Incorporated, Apple, Incorporated, Xiaomi Technology Co. Ltd., Garmin Ltd., Samsung (KRX:005930), Guangdong BBK Electronics Co., Limited among others.

Segment Research

The global wearable technology market broken down on the basis of type includes smart textile market, which is further subsegmented on the basis of class and functions. The wearable technology market is also split on the basis of products, which comprises wristwear, headwear and eyewear, neckwear, footwear, bodywear, and other wearable technologies. The wearable technology market divided on the basis of application includes consumer electronics, healthcare, enterprise and industrial application, and other applications. Moreover, the wearable technology market is broken down in four main regions, that is, Americas, Europe (EU), Asia Pacific (APAC), and Rest of the globe.

Main highlights

The analysis would benefit industry top players/new sector entrants in the wearable technology market in these ways:

1. This document breaks down the wearable technology market comprehensively and offers the closest approximations of the global market size and those of the subsegments across distinct applications and localities.

2. The market research benefits partners to comprehend the pulse of the wearable technology market and offers them with info on main market drivers, market restraints, opportunities, and alternatives.

3. This industry report would benefit partners to have a better understanding of their competitors and obtain additional insights to improve their rank in the wearable technology market. The competitive outlook section includes the competitor's ecosystem, recent product launches, alliances, and acquisitions in the wearable technology market.

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