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Wearable Technology Market by Product (Wristwear, Headwear/Eyewear, Footwear, Neckwear, Bodywear), Type (Smart Textile, Non-Textile), Application (Consumer Electronics, Healthcare, Enterprise & Industrial), and Geography - Global Forecast to 2022

  • ID: 4043084
  • Report
  • January 2017
  • Region: Global
  • 201 Pages
  • Markets and Markets
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The Wearable Technology Market is Expected to Reach USD 51.60 Billion by 2022, at a CAGR of 15.51% Between 2016 and 2022

FEATURED COMPANIES

  • Adidas Group
  • Alphabet, Inc.
  • Apple, Inc.
  • Fitbit, Inc.
  • Garmin Ltd.
  • Jawbone, Inc.
  • MORE

Among the major factors propelling the growth of the wearable technology market are consumer preferences for sophisticated gadgets, increasing growth prospects of next-generation displays in wearable devices, and growing popularity of Internet of Things (IoT) and connected devices. However, the shorter life cycle of the consumer electronics sector would hamper the overall growth of the wearable technology market. 

“Infotainment and multimedia estimated to cover maximum share of the wearable technology market”

The major products in the infotainment include smart watches, augmented reality (AR) and virtual reality (VR) headsets, multimedia players with computing facilities, and smart goggles among others. The use of AR and VR in the field of entertainment and video gaming would help the wearable technology market to grow. For instance, Sony Corporation (Japan) introduced the video PlayStation with the VR glasses. These factors would drive the growth of the wearable technology market for infotainment and multimedia.                     

“Smartwatch expected to grow at the highest rate in the product segment of the wearable technology market”

Wristbands and smartwatches are wearable computing devices, which are majorly 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 several apps for displaying the data over the phone.

Major companies such as Apple, Inc. (U.S.), Samsung Electronics (South Korea), and Fitbit, Inc. (U.S.) among others have developed such products, which satisfy the customer’s need for fitness and healthcare. Hence, the consumers are more inclined to purchase such smartwatches.

“The Americas and Asia-Pacific are the major regions for wearable technology market”

The Americas is a major hub for technological innovations and is an early adopter of new technologies. Factors such as the presence of major companies, the increasing demand for wearable devices (fitness bands and activity trackers), and the growing popularity of devices based on augmented reality (AR) and virtual reality (VR) technologies are driving the growth of the wearable technology market in this region.

In the Asia-Pacific (APAC) region, sectors such as consumer electronics, enterprise and industrial, healthcare and textile, among others contribute significantly to the growth of the wearable technology market.

The break-up of the profiles of primary participants for the report has been given below:

  • By Company Type: Tier 1 - 43%, Tier 2 - 36%, and Tier 3 - 21%
  • By Designation: C-Level Executives - 38%, Directors - 22%, and Others - 40%
  • By Region: Americas - 45%, Europe - 17%, APAC - 30%, and RoW - 8%

The report profiles the key players in the wearable technology market with their respective market share analysis. The prominent players profiled in this report are Fitbit, Inc. (U.S.), Apple, Inc. (U.S.), Xiaomi Technology Co. Ltd. (China), Garmin Ltd. (U.S.), Samsung Electronics Co., Ltd. (South Korea), Guangdong BBK Electronics Co., Ltd (China) among others.

Research Coverage:

The overall wearable technology market segmented on the basis of type includes smart textile market, which is further subsegmented on the basis of type and functions. The wearable technology market is also segmented on the basis of products, which includes wristwear, headwear and eyewear, neckwear, footwear, bodywear, and other wearable technologies. The wearable technology market segmented on the basis of application includes consumer electronics, healthcare, enterprise and industrial application, and other applications.

Furthermore, the wearable technology market is segmented in four major regions, namely, Americas, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). 

The report would help market leaders/new entrants in the wearable technology market in the following ways:

  • This report segments the wearable technology market comprehensively and provides the closest approximations of the overall market size and those of the subsegments across different applications and regions.
  • The report helps stakeholders to understand the pulse of the wearable technology market and provides them with information on key market drivers, restraints, challenges, and opportunities.
  • This report would help stakeholders to have a better understanding of their competitors and gain more insights to enhance their position in the wearable technology market. The competitive landscape section includes the competitor’s ecosystem, new product launches, partnerships, and acquisitions in the wearable technology market.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Adidas Group
  • Alphabet, Inc.
  • Apple, Inc.
  • Fitbit, Inc.
  • Garmin Ltd.
  • Jawbone, Inc.
  • MORE

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency and Pricing
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Factor Analysis
           2.2.1 Introduction
           2.2.2 Demand Side
                    2.2.2.1 Growth of Smartphones and Mobile Payments
                    2.2.2.2 Increasing Demand of Wearable Devices in Healthcare Because of the Increase in the Aging Population
           2.2.3 Supply Side
                    2.2.3.1 Continuous Innovation in Technology
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
           2.3.2 Top-Down Approach
    2.4 Market Breakdown and Data Triangulation
    2.5 Research Assumptions

3 Executive Summary

4 Premium Insights
    4.1 Wearable Technology Market Opportunities
    4.2 Geographical Snapshot of the Wearable Technology Market
    4.3 Wearable Technology Market, By Consumer Electronics Application, 2016-2022 (USD Million)
    4.4 Wearable Technology Market for Wristwear, By Product, 2016 vs 2022 (USD Billion)
    4.5 Wearable Technology Market, By Application

5 Market Overview
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 Wearable Technology Market, By Type
           5.2.2 Wearable Technology Market, By Product
           5.2.3 Wearable Technology Market, By Technology
           5.2.4 Wearable Technology Market, By Component
           5.2.5 Wearable Technology Software and Services
           5.2.6 Wearable Technology Market, By Application
           5.2.7 Wearable Technology Market, By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Consumer Preference for Sophisticated Gadgets
                    5.3.1.2 Increasing Growth Prospects of Next-Generation Displays in Wearable Devices
                    5.3.1.3 Growing Popularity of Internet of Things and Connected Devices
           5.3.2 Restraints
                    5.3.2.1 Shorter Life Cycle of the Consumer Electronics Sector
           5.3.3 Opportunities
                    5.3.3.1 Adoption of Wearables in Multiple Application Areas
                    5.3.3.2 Multi-Featured and Hybrid Application Mobile Devices
           5.3.4 Challenges
                    5.3.4.1 High Initial Costs and Limited Battery Life
                    5.3.4.2 Unaddressed Regulatory Issues & Vulnerability of Healthcare Information

6 Industry Trends
    6.1 Introduction
    6.2 Supply Chain Analysis
           6.2.1 Core Industry Segment
           6.2.2 Supporting Industry Segment
    6.3 Value Chain Analysis
    6.4 Porter’s Five Forces Analysis
           6.4.1 Threat of New Entrants
           6.4.2 Threat of Substitutes
           6.4.3 Bargaining Power of Suppliers
           6.4.4 Bargaining Power of Buyers
           6.4.5 Intensity of Competitive Rivalry

7 Wearable Technology Market, By Type
    7.1 Introduction
    7.2 Wearable Smart Textile
           7.2.1 Wearable Smart Textile Market, By Type
                    7.2.1.1 Active Smart Textiles
                    7.2.1.2 Passive Smart Textiles
                    7.2.1.3 Ultra-Smart Textiles
           7.2.2 Wearable Smart Textiles Market, By Function
                    7.2.2.1 Sensing
                    7.2.2.2 Energy Harvesting
                    7.2.2.3 Luminescence & Aesthetics
                    7.2.2.4 Thermoelectricity
                    7.2.2.5 Others
    7.3 Wearable Products & Devices (Non-Textiles)

8 Wearable Technology Market, By Product
    8.1 Introduction
    8.2 Wristwear
           8.2.1 Smartwatches
           8.2.2 Wristbands
    8.3 Headwear & Eyewear
           8.3.1 Augmented Reality Headsets
           8.3.2 Virtual Reality Headsets
           8.3.3 Others
    8.4 Footwear
           8.4.1 Casual Footwear
           8.4.2 Special-Purpose Footwear
    8.5 Neckwear
           8.5.1 Fashion and Jewelry
           8.5.2 Ties and Collars
    8.6 Bodywear
           8.6.1 Inner Wear
           8.6.2 Fashion & Apparel
           8.6.3 Armwear & Legwear
    8.7 Other Wearable Technologies
           8.7.1 Ring Scanners
           8.7.2 Bodyworn Cameras
           8.7.3 Internables/Implantables

9 Wearable Technology Market, By Technology
    9.1 Introduction
    9.2 Computing Technology
    9.3 Display Technology
    9.4 Networking Technology
    9.5 Positioning Technology
    9.6 Sensor Technology

10 Wearable Technology Market, By Component
     10.1 Introduction
     10.2 Power Supply Components
     10.3 Positioning and Networking Components
     10.4 Sensing Components
     10.5 Control Components
     10.6 Display and Optoelectronic Components
     10.7 Memory Components
     10.8 Interface Components

11 Software and Services Used in Wearable Technology
     11.1 Introduction
     11.2 Software
             11.2.1 Operating System (OS)
                        11.2.1.1 Watchos
                        11.2.1.2 Android
                        11.2.1.3 Android Wear OS
                        11.2.1.4 Real-Time Operating System (RTOS)
                        11.2.1.5 Tizen
                        11.2.1.6 Linux
                        11.2.1.7 Pebble OS
                        11.2.1.8 Others
             11.2.2 Security Solutions
                        11.2.2.1 By Security Type
                                     11.2.2.1.1 Network Security
                                     11.2.2.1.2 Cloud Security
                                     11.2.2.1.3 Wireless Security
                                     11.2.2.1.4 Application Security
                        11.2.2.2 By Solution Type
                                     11.2.2.2.1 Role-Based Access Control (RBAC)
                                                    11.2.2.2.1.1 Mandatory Access Control (MAC)
                                                    11.2.2.2.1.2 Discretionary Access Control (DAC)
                                     11.2.2.2.2 Risk & Vulnerability Management
                                     11.2.2.2.3 Distributed Denial of Service (Ddos) Mitigation
                                     11.2.2.2.4 Intrusion Detection and Intrusion Prevention System
             11.2.3 Apps (Applications)
     11.3 Services
             11.3.1 Cloud & Data Analytics
             11.3.2 Others

12 Wearable Technology Market, By Application
     12.1 Introduction
     12.2 Consumer Electronics
             12.2.1 Fitness & Sports
             12.2.2 Infotainment & Multimedia
             12.2.3 Garments & Fashion
             12.2.4 Multifunction
     12.3 Healthcare
             12.3.1 Clinical Applications
             12.3.2 Nonclinical Applications
     12.4 Enterprise & Industrial Application
             12.4.1 Logistics, Packaging, & Warehouse
             12.4.2 Other Industrial Applications
     12.5 Other Applications

13 Geographic Analysis
     13.1 Introduction
     13.2 Americas
             13.2.1 U.S.
             13.2.2 Canada
             13.2.3 Mexico
             13.2.4 Others
     13.3 Europe
             13.3.1 Germany
             13.3.2 U.K.
             13.3.3 France
             13.3.4 Others
     13.4 Asia-Pacific (APAC)
             13.4.1 China
             13.4.2 Japan
             13.4.3 South Korea
             13.4.4 India
             13.4.5 Others
     13.5 Rest of the World
             13.5.1 Middle East
             13.5.2 Africa

14 Competitive Landscape
     14.1 Overview
     14.2 Arket Share Analysis of the Wearable Technology Market, 2015
     14.3 Competitive Situations and Trends
             14.3.1 New Product Launch
             14.3.2 Partnerships
             14.3.3 Acquisition and Collaboration

15 Company Profiles
     15.1 Introduction
     15.2 Fitbit, Inc.
     15.3 Apple, Inc.
     15.4 Xiaomi Technology Co., Ltd
     15.5 Garmin Ltd.
     15.6 Samsung Electronics Co., Ltd.
     15.7 Alphabet, Inc.
     15.8 LG Electronics, Inc.
     15.9 Qualcomm Technologies, Inc.
     15.10 Sony Corporation
     15.11 Adidas Group
     15.12 Jawbone, Inc.
     15.13 Misfit, Inc.
     15.14 Guangdong Bbk Electronics Co., Ltd
     15.15 Lifesense Group B.V.

List of Tables
Table 1 Wearable Technology Market, Market Size in Terms of Value and Volume, 2014-2022
Table 2 The Need for Sophisticated Devices Propels the Growth of the Wearable Technology Market
Table 3 Need of Self-Powering Devices Restrains the Growth of the Wearable Technology Market
Table 4 Increasing Opportunities in Multiple Applications and Technological Growth Pave the Growth Avenue for Players in the Wearables Market
Table 5 Unaddressed Regulatory Issues and Vulnerability of Healthcare Information
Table 6 Porter’s Five Forces Analysis: Bargaining Power of Suppliers Expected to Have A Medium Impact on Wearable Technology Market, 2015
Table 7 Wearable Technology Market, By Type, 2014-2022 (USD Million)
Table 8 Wearable Technology Market, By Type, 2014-2022 (Million Units)
Table 9 Wearable Smart Textiles Market, By Type, 2014-2022 (USD Million)
Table 10 Active Smart Textiles Market, By Function, 2014-2022 (USD Million)
Table 11 Passive Smart Textile Market, By Function, 2014-2022 (USD Million)
Table 12 Ultra-Smart Textiles Market, By Function, 2014-2022 (USD Million)
Table 13 Wearable Smart Textiles Market, By Function, 2014-2022 (USD Million)
Table 14 Smart Textiles Market for Sensing, By Type, 2014-2022 (USD Million)
Table 15 Smart Textiles Market for Energy Harvesting, By Type, 2014-2022 (USD Million)
Table 16 Smart Textiles Market for Luminescence & Aesthetics, By Type, 2014-2022 (USD Million)
Table 17 Smart Textiles Market for Thermoelectricity, By Type, 2014-2022 (USD Million)
Table 18 Smart Textiles Market for Other Functions, By Type, 2014-2022 (USD Million)
Table 19 Wearable Technology Market, By Product, 2014-2022 (USD Million)
Table 20 Wearable Technology Market, By Product, 2014-2022 (Million Units)
Table 21 Wearable Technology Market for Wristwear, By Product, 2014-2022 (USD Million)
Table 22 Wearable Technology Market for Wristwear, By Product, 2014-2022 (Million Units)
Table 23 Wearable Technology Market for Headwear & Eyewear, By Product, 2014-2022 (USD Million)
Table 24 Wearable Technology Market for Headwear & Eyewear, By Product, 2014-2022 (Thousand Units)
Table 25 Wearable Technology Market for Footwear, By Product, 2014-2022 (USD Million)
Table 26 Wearable Technology Market for Footwear, By Product, 2014-2022 (Thousand Units)
Table 27 Wearable Technology Market for Neckwear, By Product, 2014-2022 (USD Million)
Table 28 Wearable Technology Market for Neckwear, By Product, 2014-2022 (Thousand Units)
Table 29 Wearable Technology Market for Bodywear, By Product, 2014-2022 (USD Million)
Table 30 Wearable Technology Market for Bodywear, By Product, 2014-2022 (Thousand Units)
Table 31 Wearable Technology Market for Other Technologies, By Product, 2014-2022 (USD Million)
Table 32 Wearable Technology Market for Other Technologies, By Product, 2014-2022 (Thousand Units)
Table 33 Wearable Technology Market, By Application, 2014-2022 (USD Million)
Table 34 Wearable Technology Market, By Application, 2014-2022 (Million Units)
Table 35 Wearable Technology Market for Consumer Electronics Application, By Type, 2014-2022 (USD Million)
Table 36 Wearable Technology Market for Consumer Electronics Application, By Type, 2014-2022 (Thousand Units)
Table 37 Wearable Technology Market for Consumer Electronics Application, By Region, 2014-2022 (USD Million)
Table 38 Wearable Technology Market for Consumer Electronics, By Region, 2014-2022 (Thousand Units)
Table 39 Wearable Technology Market for Healthcare Application, By Type, 2014-2022 (USD Million)
Table 40 Wearable Technology Market for Healthcare Application, By Type, 2014-2022 (Thousand Units)
Table 41 Wearable Technology Market for Healthcare, By Region, 2014-2022 (USD Million)
Table 42 Wearable Technology Market for Healthcare Application, By Region, 2014-2022 (Thousand Units)
Table 43 Wearable Technology Market for Enterprise & Industrial Application, By Type, 2014-2022 (USD Million)
Table 44 Wearable Technology Market for Enterprise & Industrial Application, By Type, 2014-2022 (Thousand Units)
Table 45 Wearable Technology Market for Enterprise & Industrial Application, By Region, 2014-2022 (USD Million)
Table 46 Wearable Technology Market for Enterprise & Industrial Application, By Region, 2014-2022 (Thousand Units)
Table 47 Wearable Technology Market for Other Applications (USD Million) (Million Units), 2014-2022
Table 48 Wearable Technology Market for Other Applications, By Region, 2014-2022 (USD Million)
Table 49 Wearable Technology Market for Other Applications, By Region, 2014-2022 (Thousand Units)
Table 50 Wearable Technology Market, By Region, 2014-2022 (USD Million)
Table 51 Wearable Technology Market, By Region, 2014-2022 (Thousand Units)
Table 52 Wearable Technology Market in Americas, By Country, 2014-2022 (USD Million)
Table 53 Wearable Technology Market in the Americas, By Country, 2014-2022 (Thousand Units)
Table 54 Wearable Technology Market in American, By Application, 2014-2022 (USD Million)
Table 55 Wearable Technology Market in Americas, By Application, 2014-2022 (Thousand Units)
Table 56 Wearable Technology Market in Europe, By Country, 2014-2022 (USD Million)
Table 57 Wearable Technology Market in Europe, By Country, 2014-2022 (Thousand Units)
Table 58 Wearable Technology Market in Europe, By Application, 2014-2022 (USD Million)
Table 59 Wearable Technology Market in Europe, By Application, 2014-2022 (Thousand Units)
Table 60 Wearable Technology Market in APAC, By Country, 2014-2022 (USD Million)
Table 61 Wearable Technology Market in APAC, By Country, 2014-2022 (Thousand Units)
Table 62 Wearable Technology Market in APAC, By Application, 2014-2022 (USD Million)
Table 63 Wearable Technology Market in APAC, By Application, 2014-2022 (Thousand Units)
Table 64 RoW Wearable Technology Market, By Geography, 2014-2022 (USD Million)
Table 65 Wearable Technology Market in RoW, By Region, 2014-2022 (Thousand Units)
Table 66 Wearable Technology Market in RoW, By Application, 2014-2022 (USD Million)
Table 67 Wearable Technology Market in RoW, By Application, 2014-2022 (Thousand Units)
Table 68 New Product Launch (2014-2016)
Table 69 Partnership (2014-2016)
Table 70 Acquisition and Collaboration (2015-2016)

List of Figures
Figure 1 Markets Covered Under Wearable Technology
Figure 2 Research Design
Figure 3 Global Smartphone Shipment, 2014-2016 (Million Units)
Figure 4 Percentage of Aging Population (Above 60 Years) of the Total Population
Figure 5 Data Triangulation
Figure 6 Wearable Technology Market (2014-2022)
Figure 7 Headwear & Eyewear in Wearable Technology Market Expected to Grow at Highest Rate Between 2016 vs 2022
Figure 8 Consumer Electronics is Expected to Be the Largest Market for Wearable Technology Between 2016 and 2022
Figure 9 Wearable Smart Textiles Market, By Type; Ultra-Smart Textiles Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 10 Americas Accounted for the Largest Share of the Wearable Technology Market in 2015
Figure 11 Wearable Technology Market Expected to Display Lucrative Growth Opportunities Owing to Increasing Demand for Fitness and Health Tracking Devices in the Forecast Period
Figure 12 Wearable Technology Market in the Americas Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 13 Wearable Technology Market for Multi-Function Segment Expected to Witness the Highest Growth Rate Between 2016 and 2022
Figure 14 Wearable Technology Market for Smartwatches Expected to Grow Rapidly Between 2016 and 2022
Figure 15 Wearable Technology Market for Consumer Electronics Application Accounted for the Largest Market Share in 2016
Figure 16 Growing Popularity of Internet of Things and Connected Devices and Consumer Preference for Sophisticated Gadgets are the Driving Factors for the Growth of Wearable Technology Market
Figure 17 Internet of Things Technology Market, 2013-2015 (USD Billion)
Figure 18 Wearable Technology Market: Supply Chain Flow
Figure 19 Value Chain Analysis of the Wearable Technology Market
Figure 20 Overview of Porter’s Five Forces Analysis for the Wearable Technology Market
Figure 21 Wearable Technology Market: Porter’s Five Forces Analysis, 2015
Figure 22 Wearable Technology Market: Threat of New Entrants
Figure 23 Venture Capitalist Funding to Wearable Technologies Companies (2011-2015)
Figure 24 Wearable Technology Market: Threat of Substitutes
Figure 25 Wearable Technology Market: Bargaining Power of Suppliers
Figure 26 Wearable Technology Market: Bargaining Power of Buyers
Figure 27 Wearable Technology Market: Intensity of Competitive Rivalry
Figure 28 Wearable Technology Market, By Type
Figure 29 Non-Textile Type Wearable Products Expected to Witness High Growth Rate in the Wearable Technology Market Between 2016 and 2022
Figure 30 Active Smart Textile Estimated to Hold the Largest Share of the Wearable Technology Market Between 2016 and 2022
Figure 31 Wearable Technology Market for Sensing to Lead the Market Between 2016 and 2022
Figure 32 Sensing Estimated to Dominate the Wearable Technology Market in Terms of Growth and Market Share Between 2016 and 2022
Figure 33 Active Smart Textile Market to Hold the Largest Size Between 2016 and 2022
Figure 34 Wearable Technology Market, By Product
Figure 35 Headwear & Eyewear Segment of Wearable Technology Market Expected to Witness the Highest Growth Rate During the Forecast Period
Figure 36 Smartwatch to Lead the Wearable Technology Market for Wristwear Between 2016 and 2022
Figure 37 Augmented Reality Expected to Witness the Highest Growth Rate in the in Wearable Technology Market for Headwear & Eyewear During the Forecast Period
Figure 38 Innerwear Expected to Lead the Market for Bodywear During the Forecast Period
Figure 39 Wearable Technology Market, By Technology
Figure 40 Wearable Technology Market, By Component
Figure 41 Software and Service Used in Wearable Technology
Figure 42 Wearable Technology Market, By Application
Figure 43 Consumer Electronics Application Expected to Dominate the Wearable Technology Market Between 2016 and 2022
Figure 44 Garments & Fashion Segment of the Consumer Electronics Application Estimated to Grow at the Highest Rate Between 2016 and 2022
Figure 45 Americas to Lead the Market for the Consumer Electronics Application During the Forecast Period
Figure 46 Nonclinical Wireless Health Segment of the Healthcare Application to Hold the Major Share of the Market During the Forecast Period
Figure 47 Logistics, Packaging, & Warehouse to Witness the Highest Growth Rate in the Enterprise & Industrial Application of the Wearable Technology Market Between 2016 and 2022
Figure 48 Americas to Dominate the Market for Other Applications of Wearable Technology in Terms of Market Size and Growth Rate During the Forecast Period
Figure 49 Geographic Snapshot of the Wearable Technology Market (2016-2022)
Figure 50 Wearable Technology Market in the Americas Expected to Grow at the Highest Rate During the Forecast Period
Figure 51 Americas: Wearable Technology Market Snapshot
Figure 52 Canada Expected to Witness the Highest Growth Rate in the Wearable Technology Market Between 2016 and 2022
Figure 53 Europe: Wearable Technology Market Snapshot
Figure 54 Germany Estimated to Witness the Highest Growth Rate in the Wearable Technology Market During the Forecast Period
Figure 55 Asia-Pacific: Wearable Technology Market Snapshot
Figure 56 Wearable Technology Market in India Estimated to Grow at the Highest Rate During the Forecast Period
Figure 57 Rest of the World: Wearable Technology Market Snapshot
Figure 58 Middle East to Dominate the Wearable Technology Market in RoW During the Forecast Period
Figure 59 Companies Adopted New Product Launch as the Key Growth Strategy Between 2014 and 2016
Figure 60 Market Share Analysis for Wearable Technology Market (2016)
Figure 61 Battle for Market Share: New Product Launches Have Been the Key Strategy
Figure 62 Market Evolution Framework - New Product Launches and Partnerships are Responsible for Growth of the Wearable Technology Market Between 2014 and 2016
Figure 63 Geographic Revenue Mix of the Major Market Players
Figure 64 Fitbit, Inc.: Company Snapshot
Figure 65 Fitbit Inc.: SWOT Analysis
Figure 66 Apple, Inc.: Company Snapshot
Figure 67 Apple, Inc.: SWOT Analysis
Figure 68 Xiaomi Technology Co., Ltd.: SWOT Analysis
Figure 69 Garmin Ltd.: Company Snapshot
Figure 70 Garmin Ltd.: SWOT Analysis
Figure 71 Samsung Electronics Co., Ltd.: Company Snapshot
Figure 72 Samsung Electronics Co., Ltd.: SWOT Analysis
Figure 73 Alphabet, Inc.: Company Snapshot
Figure 74 LG Electronics, Inc.: Company Snapshot
Figure 75 Qualcomm Technologies, Inc.: Company Snapshot
Figure 76 Sony Corporation: Company Snapshot
Figure 77 Adidas Group: Company Snapshot

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Adidas Group
  • Alphabet, Inc.
  • Apple, Inc.
  • Fitbit, Inc.
  • Garmin Ltd.
  • Jawbone, Inc.
  • MORE

The wearable technology market size is expected to grow from USD 15.74 Billion in 2015 to USD 51.60 Billion by 2022, at a CAGR of 15.51% between 2016 and 2022. The wearable technology market is expected to grow because of various driving factors, such as consumer preference for sophisticated gadgets, increasing growth prospects of next-generation displays in wearable devices, and growing popularity of Internet of Things (IoT) and connected devices.

The wearable technology market for the enterprise and industrial application is expected to grow at a highest CAGR between 2016 and 2022. This growth is mainly attributed to the increasing demand for wearable scanners and computing devices in warehouse, logistics, and other operations, where efficiency is inevitable. Enterprise and industrial wearable devices include compact, mobile, and wireless computing systems that could be worn on the body (for example, ring scanners) as well as various image scanners that find applications in the enterprise and industrial processes.

The wristwear product is expected to cover the maximum size of the wearable technology market between 2016 and 2022. The factor for this growth is attributed to key industry players who are introducing products with advanced features to serve customers’ need of fitness and healthcare. Wristwear measures fitness and healthcare parameters, which includes heartrate, calories, distance travelled, and steps. All such parameters could be synchronized with a mobile to store data. Moreover, people could access the mobile through wearable devices with the help of wristwears. So considering all such developments, it is estimated that wristwear would gain the maximum size of the wearable technology market between 2016 and 2022.

In 2015, the Americas accounted for the largest share of the wearable technology market because of several factors. One of the most important factors is technological innovations and advancements, which led to the introduction of new products. The increasing demand from consumers and medical applications has also led to the growth of wearable technology market in the Americas.

However, the wearable technology market faces some challenges associated with growing concerns such high initial costs and limited battery life, and unaddressed regulatory issues and vulnerability of healthcare information. This report describes the drivers, restraints, opportunities, and challenges pertaining to the wearable technology market. Moreover, the report analyzes the current scenarios and forecasts the market until 2022. Furthermore, this report includes the market segmentation based on type, product, application, and region.

Some of the major companies in the wearable technology market, include Fitbit, Inc. (U.S.), Apple, Inc.(U.S.), Xiaomi Technology Co. Ltd. (China), Garmin Ltd. (U.S.), Samsung Electronics Co., Ltd.(South Korea), Guangdong BBK Electronics Co., Ltd (China), Misfit, Inc. (U.S.), Alphabet, Inc. (U.S.), LG Electronics Inc.(South Korea), Qualcomm Technologies, Inc. (U.S.), Adidas Group (Germany), Sony Corporation (Japan), Jawbone, Inc. (U.S.), and Lifesense Group (The Netherlands) among others.

Note: Product cover images may vary from those shown
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  • Adidas Group
  • Alphabet, Inc.
  • Apple, Inc.
  • Fitbit, Inc.
  • Garmin Ltd.
  • Guangdong Bbk Electronics Co., Ltd
  • Jawbone, Inc.
  • LG Electronics, Inc.
  • Lifesense Group B.V.
  • Misfit, Inc.
  • Qualcomm Technologies, Inc.
  • Samsung Electronics Co., Ltd.
  • Sony Corporation
  • Xiaomi Technology Co., Ltd
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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