San
Francisco, 12 October 2018 - The global wearable technology market is anticipated to reach
USD 196.5 billion by 2022, according to a new study by Grand View Research,
Inc. Research and development investment by large number of industry player is
expected to fuel growth over the forecast period.
Increasing disposable income worldwide is expected
to fuel industry growth over the forecast period. Technological advancement,
price, quality, and battery life influence the buying decision of the
end-users. The emergence of 3D printing solution and crowd funding is expected
to positively impact the wearable technology market.
Increasing smartphone penetration worldwide is
expected to propel industry growth over the forecast period, owing to
increasing wearable device compatibility. Advancement in semiconductor
electronics is expected to favor more efficient and effective products, thereby
fuel revenue growth over the next seven years.
Various health and economic benefits are expected to
contribute to overall industry development. For instance, advertisement
agencies can bring down research cost through the use of eye-wear, which can
allow enhanced data collection of customers’ feedbacks. Low battery life and
high cost of some of the devices may hinder the industry growth over the
forecast period. Data privacy concern may also adversely affect the industry
demand.
Full
Research Report On Global Wearable Technology Market By Grand View
Research:
www.grandviewresearch.com/industry-analysis/wearable-technology-market
www.grandviewresearch.com/industry-analysis/wearable-technology-market
Further
key findings from the study suggest:
- The global industry is innovation driven and
continuously evolving. The products available in the market include
wrist-wear, neck-wear, body-wear, eye-wear and foot-wear. Companies such
as Nike, Garmin, GOQii are offering wrist-wear for fitness and sport and
healthcare application.
- Applications include healthcare, fitness and
wellness, infotainment, enterprise and industrial, and defense. Increasing
concern about fitness and health among urban population is anticipated to
drive demand over the forecast period. Advancement in virtual reality
technology is expected to favor the infotainment segment over the next
seven years. Government initiative to enhance their defense capability and
provide soldiers with advanced technology is anticipated to drive
investment in this sector.
- North America wearable technology market is
estimated to be the key regional segment and is anticipated to grow at a
CAGR of around 32% over the next seven years. Increasing in awareness about
the benefit of this technology will drive demand in Asia Pacific over the
forecast period. Asia Pacific is expected to be key component
manufacturing hub over the forecast period owing to availability of cheap
resources. The region was valued over USD 3 billion in 2014, and is
expected to grow at a CAGR of over 36% from 2015 to 2022.
- Companies operating in the industry include
Apple Inc., Adidas AG, Garmin, Fitbit, Nike, Inc., Google Inc., Jawbone,
Sony Corp, Samsung Electronics Co. Ltd., and Xiaomi. In March 2014, Google
Inc. launched Android operating system for wearable technology.
CuteCircuit Technologies is a company that designs and develops wearable
garments for both men and women.
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the wearable technology market on the
basis of product, application and region:
Wearable
Technology Product Outlook (USD Billion, 2012 - 2022)
- Wrist-wear
- Eye-wear
- Foot-wear
- Neck-wear
- Body-wear
- Others
Wearable
Technology Application Outlook (USD Billion, 2012 - 2022)
- Fitness
and sports
- Healthcare
- Infotainment
- Defense
- Enterprise
and industrial
Wearable
Technology Regional Outlook (USD Billion, 2012 - 2022)
- North
America
- Europe
- Asia
Pacific
- RoW
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-wearable-technology-market
www.grandviewresearch.com/press-release/global-wearable-technology-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More
Information: www.grandviewresearch.com
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