World Wearable Technology Market - Opportunities and Forecasts, 2014 - 2022

  • ID: 3773303
  • Report
  • Region: Global
  • 180 pages
  • Allied Analytics LLP
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Wearable technology refers to electronics devices that are designed to be worn anywhere around the body thereby enabling hands free operations. Wearable technology products have gained popularity over the past few years, with advancements in technology and growth in the trend of innovation. From healthcare to military & defense sector, this technology is prevalent due to ease of use, flexibility, and convenience. It also saves time, enables real-time data monitoring, and offers operational efficiency. Fitness tracking, security profiling, and network monitoring are some of the major factors contributing towards the higher adoption of wearable technology. The wearable technology market is expected to reach a market value of $57,653 million by 2022 from $19,633 million in 2016, growing with a notable CAGR of 16.2% during the forecast period.

Increase in healthcare awareness, portable and convenient usage of wearables, and entry of large smartphone manufacturers are expected to drive growth in the wearable technology industry. Demand for sophisticated devices with innovative features further supplements the market growth. However, factors such as security concerns and high cost of manufacturing in the global wearable technology industry are likely to hamper the market growth. Moreover, due to increase in smartphone penetration, the demand for wearable technology is expected to grow at a faster rate. Furthermore, the introduction of smart shirts and smart rings, owing to rapid technological advancements are expected to supplement the growth of wearable technology market.

The global wearable technology market is segmented based on devices, product type, application, and geography. Based on devices the market is segmented into smart watches, smart glasses, activity trackers, smart clothing, and others. The smart watch market is expected to grow with the fastest CAGR of 19.9% during the forecast period and is likely to reach a market size of $17,883 million by 2022. Factors such as large players entering the global market, advancement in research and development, higher manufacturing cost, demand for high end devices, increasing competition, and standardization will have a significant impact on the smart watch market. Based on product type the wearable technology market is segmented into wrist wear, eyewear, hearables, body wear, and neckwear. Based on application, the wearable technology market is segmented into lifestyle, healthcare, consumer application, defense, fitness and sports, entertainment and enterprise, and industrial. Based on geography, the global wearable technology market is segmented into North America, Europe, Asia-Pacific, and LAMEA.

Key players operating in the market include Apple Inc., Fitbit, Inc., Garmin Ltd., Adidas AG., Nike Inc., Samsung Electronics Co., Ltd., Sony Corporation, Huawei Technologies Co., Ltd., LG Electronics Inc., and Motorola Solutions Inc. The constant innovation by the market players and introduction of new technologies intensifies the inter-market rivalry. The key strategies adopted by various players in the wearable technology market are analyzed based on the competitive scenario of the market. For instance, in September 2016, Garmin international Inc. a unit of Garmin Ltd, has launched the vivofit jr. which is an activity tracker for kids to motivate and encourage them for fitness. The design for this product is durable, and has a long battery life. Many companies are collaborating with leading jewelry brands to enhance the appearance of wearable technology. For instance, in January 2016, Huawei and the jewelry brand Swarovski Zirconia, launched a new range of smart watches. These are available in two stylish options made exclusively for women. The watch comes with Italian leather straps and is compatible with both Android and IOS.

Key Benefits

The report provides an in-depth analysis of wearable technology industry to identify the potential investment pockets.
The key drivers, restraints, and opportunities along with their detailed impact analyses have been elucidated.
Porter’s five forces model helps in analyzing the potential buyers & suppliers and the competitive sketch of the market, which is expected to guide the market players to develop strategies accordingly.
Wearable technology market analysis includes market size estimates from 2014 through 2022 including market size by device, product type, application and geography value in $ million.

Wearable Technology Market Key Segments

By Devices

Smart watches
Smart glasses
Fitness & wellness devices
Smart clothing
Others (Earphones, body monitors, and wearable cameras)

By Product type:

Wrist wear
Eye wear
Hearables
Body wear
Neck wear

By Application:

Lifestyle
Healthcare
Consumer applications
Defense
Fitness & sports
Enterprise & industrial

By Geography:

North America
U.S
Canada
Mexico
Europe
U.K
Germany
France
Rest of Europe
Asia-Pacific
India
China
Japan
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

Key Market Players

Apple Inc.
Fitbit, Inc.
Garmin Ltd.
Adidas AG.
Nike Inc.
Samsung Electronics Co., Ltd.
Sony Corporation
Huawei Technologies Co., Ltd.
LG Electronics Inc.
Motorola Solutions Inc.

Other companies

Fossil Group, Inc.
Google Inc.
Jawbone
Misfit
Pebble Technology Corp.
Polar Electro, Inc.
Withings SA
Michael Kors
Casio Electronics Co. Ltd.
TAG Heuer
Tom Tom
ASUSTeK Computer Inc.
Xiaomi Inc.
Moov Inc.
Whoop
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CHAPTER 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS TO STAKEHOLDERS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE

CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top impacting factors
3.2.2. Top winning strategies
3.2.3. Top investment pocket
3.3. PORTERS FIVE FORCES ANALYSIS
3.3.1. Moderate bargaining power of suppliers
3.3.2. Moderate bargaining power of buyers
3.3.3. Moderate threat of substitution
3.3.4. High threat of new entrants
3.3.5. High competitive rivalry
3.4. MARKET SHARE ANALYSIS, 2015
3.5. MARKET DYNAMICS
3.5.1. Drivers
3.5.1.1. Portable and convenient usage
3.5.1.2. Entry of large players
3.5.1.3. Increased health awareness
3.5.1.4. Spending power
3.5.2. Restraints
3.5.2.1. Threat of security
3.5.2.2. High cost of manufacturing
3.5.3. Opportunities
3.5.3.1. High market potential for cross selling
3.5.3.2. Technological advancements
3.5.3.3. Declining wearable prices

CHAPTER 4 WEARABLE TECHNOLOGY MARKET, BY DEVICE
4.1. OVERVIEW
4.1.1. Market size and forecast
4.2. SMART WATCHES
4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast
4.3. SMART GLASSES
4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast
4.4. FITNESS & WELLNESS DEVICES
4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast
4.5. SMART CLOTHING
4.5.1. Key market trends
4.5.2. Key growth factors and opportunities
4.5.3. Market size and forecast
4.6. OTHERS
4.6.1. Key market trends
4.6.2. Key growth factors and opportunities
4.6.3. Market size and forecast

CHAPTER 5 WEARABLE TECHNOLOGY MARKET, BY PRODUCT TYPE
5.1. OVERVIEW
5.1.1. Market size and forecast
5.2. WRIST WEAR
5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast
5.3. EYEWEAR
5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast
5.4. HEARABLES
5.4.1. Key market trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast
5.5. BODY WEAR
5.5.1. Key market trends
5.5.2. Key growth factors and opportunities
5.5.3. Market size and forecast
5.6. NECK WEAR
5.6.1. Key market trends
5.6.2. Key growth factors and opportunities
5.6.3. Market size and forecast
5.7. OTHERS
5.7.1. Key market trends
5.7.2. Key growth factors and opportunities
5.7.3. Market size and forecast

CHAPTER 6 WEARABLE TECHNOLOGY MARKET, BY APPLICATION
6.1. OVERVIEW
6.1.1. Market size and forecast
6.2. LIFESTYLE
6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast
6.3. HEALTHCARE
6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast
6.4. DEFENSE
6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast
6.5. FITNESS & SPORTS
6.5.1. Key market trends
6.5.2. Key growth factors and opportunities
6.5.3. Market size and forecast
6.6. ENTERTAINMENT
6.6.1. Key market trends
6.6.2. Key growth factors and opportunities
6.6.3. Market size and forecast
6.7. ENTERPRISE AND INDUSTRIAL
6.7.1. Key market trends
6.7.2. Key growth factors and opportunities
6.7.3. Market size and forecast

CHAPTER 7 WEARABLE TECHNOLOGY MARKET, BY REGION
7.1. OVERVIEW
7.1.1. Market size and forecast
7.2. NORTH AMERICA
7.2.1. Key market trends
7.2.2. Key growth factors and opportunities
7.2.3. Market size and forecast
7.2.3.1. U.S.
7.2.3.2. Canada
7.2.3.3. Mexico
7.3. EUROPE
7.3.1. Key market trends
7.3.2. Key growth factors and opportunities
7.3.3. Market size and forecast
7.3.3.1. United Kingdom
7.3.3.2. France
7.3.3.3. Germany
7.3.3.4. Rest of Europe
7.4. ASIA-PACIFIC
7.4.1. Key market trends
7.4.2. Key growth factors and opportunities
7.4.3. Market size and forecast
7.4.3.1. China
7.4.3.2. Japan
7.4.3.3. India
7.4.3.4. Rest of Asia-Pacific
7.5. LAMEA
7.5.1. Key market trends
7.5.2. Key growth factors and opportunities
7.5.3. Market size and forecast
7.5.3.1. Latin America
7.5.3.2. Middle East
7.5.3.3. Africa

CHAPTER 8 COMPANY PROFILES
8.1. APPLE INC.
8.1.1. Company overview
8.1.2. Business performance
8.1.3. Operating business segments
8.1.4. Key strategic moves and developments
8.2. FITBIT INC.
8.2.1. Company overview
8.2.2. Business performance
8.2.3. Key strategic moves and developments
8.3. SONY CORPORATION
8.3.1. Company overview
8.3.2. Business performance
8.3.3. Operating business segments
8.3.4. Key strategic moves and developments
8.4. SAMSUNG ELECTRONICS CO., LTD.
8.4.1. Company overview
8.4.2. Business performance
8.4.3. Operating business segments
8.4.4. Key strategic moves and developments
8.5. GARMIN LTD.
8.5.1. Company overview
8.5.2. Business performance
8.5.3. Operating business segments
8.5.4. Key strategic moves and developments
8.6. HUAWEI TECHNOLOGIES CO., LTD
8.6.1. Company overview
8.6.2. Business performance
8.6.3. Operating business segments
8.6.4. Key strategic moves and developments
8.7. LG ELECTRONICS
8.7.1. Company overview
8.7.2. Business performance
8.7.3. Operating business segments
8.7.4. Key strategic moves and developments
8.8. MOTOROLA SOLUTIONS, INC.
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Business performance
8.8.4. Key strategies & developments
8.9. NIKE INC.
8.9.1. Company overview
8.9.2. Business performance
8.9.3. Operating business segments
8.9.4. Key strategic moves and developments
8.10. ADIDAS AG
8.10.1. Company overview
8.10.2. Business performance
8.10.3. Operating business segments
8.10.4. Key strategic moves and developments

List of Tables
Table 1. Global Wearable Technology Market, By Device, 2014-2022 ($Million)
Table 2. Smart Watches Market, By Region, 2014-2022 ($Million)
Table 3. Smart Glasses Market, By Region, 2014-2022 ($Million)
Table 4. Fitness & Wellness Devices Market, By Region, 2014-2022 ($Million)
Table 5. Smart Clothings Market, By Region, 2014-2022 ($Million)
Table 6. Other Wearable Technology Market, By Region, 2014-2022 ($Million)
Table 7. Wearable Technology Market, By Product Type, 2014-2022 ($Million)
Table 8. Wearable Technology Market Revenue From Wrist Wear, By Region, 2014-2022 ($Million)
Table 9. Wearable Technology Market Revenue From Eyewear, By Region, 2014-2022 ($Million)
Table 10. Wearable Technology Market Revenue From Hearables, By Region, 2014-2022 ($Million)
Table 11. Wearable Technology Market Revenue From Body Wear, By Region, 2014-2022 ($Million)
Table 12. Wearable Technology Market Revenue From Neckwear, By Region, 2014-2022 ($Million)
Table 13. Wearable Technology Market Revenue From Others, By Region, 2014-2022 ($Million)
Table 14. Global Wearable Technology Market By Application, 2014-2022 ($Million)
Table 15. Wearable Technology Market Revenue From Lifestyle Segment, By Region, 2014-2022 ($Million)
Table 16. Wearable Technology Market Revenue From Healthcare Segment, By Region, 2014-2022 ($Million)
Table 17. Wearable Technology Market Revenue From Defense Segment, By Region, 2014-2022 ($Million)
Table 18. Wearable Technology Market Revenue From Fitness & Sports Segment, By Region, 2014-2022 ($Million)
Table 19. Wearable Technology Market Revenue From Entertainment Segment, By Region, 2014-2022 ($Million)
Table 20. Wearable Technology Market Revenue From Enterprise And Industrial Segment, By Region,
2014-2022 ($Million)
Table 21. Global Wearable Technology Market, By Region, 2014-2022 ($Million)
Table 22. North America Wearable Technology Market, Revenue, By Product Type, 2014-2022 ($Million)
Table 23. North America Wearable Technology Market, Revenue, By Country, 2014-2022 ($Million)
Table 24. Europe Wearable Technology Market, Revenue, By Product Type, 2014-2022 ($Million)
Table 25. Europe Wearable Technology Market, Revenue, By Country, 2014-2022 ($Million)
Table 26. Asia-Pacific Wearable Technology Market, Revenue, By Product Type, 2014-2022 ($Million)
Table 27. Asia-Pacific Wearable Technology Market, Revenue, By Country, 2014-2022 ($Million)
Table 28. Lamea Wearable Technology Market, Revenue, By Product Type, 2014-2022 ($Million)
Table 29. Lamea Wearable Technology Market, Revenue, By Country, 2014-2022 ($Million)
Table 30. Apple Inc: Company Snapshot
Table 31. Apple Inc: Operating Segments
Table 32. Fitbit Inc: Company Snapshot
Table 33. Sony Corporation: Company Snapshot
Table 34. Sony Corporation: Operating Segments
Table 35. Samsung: Company Snapshot
Table 36. Samsung: Operating Segments
Table 37. Garmin Ltd.: Company Snapshot
Table 38. Garmin Ltd.: Operating Segments
Table 39. Huawei Technologies: Company Snapshot
Table 40. Huawei Technologies: Operating Segments
Table 41. Lg Electronics: Company Snapshot
Table 42. Lg Corporation: Operating Segments
Table 43. Nike Inc: Company Snapshot
Table 44. Nike Inc: Operating Segments
Table 45. Adidas Group: Company Snapshot
Table 46. Adidas Group: Operating Segments
List Of Figures

List of Figures
Figure 1. Wearable Technology Market Segmentation
Figure 2. Top Impacting Factors Of Wearable Technology Market
Figure 3. Top Winning Strategy Analysis
Figure 4. Top Winning Strategies, By Company, 2013-2016 (%)
Figure 5. Top Investment Pockets
Figure 6. Porters Five Force Model
Figure 7. Global Wearable Technology Market (2015): Market Share Analysis
Figure 8. World Obesity Problem In Different Countries
Figure 9. Gdp Growth Rate In Major Developing Countries, 2013-2014
Figure 10. Organizations And Entities Consumers Are Willing To Share Wearables Data With
Figure 11. Number Of Smartphone USers Worldwide (Unit Billion)
Figure 12. Health Spending By Type Of Service Or Product(%)
Figure 13. Global Wearable Technology Market, By Device, 2015 (%)
Figure 14. Global Smart Watches Market, Revenue, 2014-2022 ($Million)
Figure 15. Wearable Technology Market Share From Smart Watches, By Region, 2014-2022 (%)
Figure 16. Global Smart Glasses Market, Revenue, 2014-2022 ($Million)
Figure 17. Wearable Technology Market Share From Smart Glasses, By Region, 2014-2022 (%)
Figure 18. Global Fitness & Wellness Devices Market, Revenue, 2014-2022 ($Million)
Figure 19. Wearable Technology Market Share From Fitness & Wellness Devices, By Region, 2014-2022 (%)
Figure 20. Global Smart Clothings Market, Revenue, 2014-2022 ($Million)
Figure 21. Wearable Technology Market Share From Smart Clothings, By Region, 2014-2022 (%)
Figure 22. Global Other Wearable Technology Market, Revenue, 2014-2022 ($Million)
Figure 23. Wearable Technology Market Share From Others, By Region, 2014-2022 (%)
Figure 24. Global Wearable Technology Market, By Product Type, 2015 (%)
Figure 25. Global Wearable Technology Market Revenue From Wrist Wear, 2014-2022 ($Million)
Figure 26. Wearable Technology Market Share From Wrist Wear, By Region, 2014-2022 (%)
Figure 27. Global Wearable Technology Market Revenue From Eyewear, 2014-2022 ($Million)
Figure 28. Wearable Technology Market Share From Eyewear, By Region, 2014-2022 (%)
Figure 29. Global Wearable Technology Market Revenue From Hearables, 2014-2022 ($Million)
Figure 30. Wearable Technology Market Share From Hearables, By Region, 2014-2022 (%)
Figure 31. Global Wearable Technology Market Revenue From Body Wear, 2014-2022 ($Million)
Figure 32. Wearable Technology Market Share From Body Wear, By Region, 2014-2022 (%)
Figure 33. Global Wearable Technology Market Revenue From Neckwear, 2014-2022 ($Million)
Figure 34. Wearable Technology Market Share From Neckwear, By Region, 2014-2022 (%)
Figure 35. Global Wearable Technology Market Revenue From Others, 2014-2022 ($Million)
Figure 36. Wearable Technology Market Share From Others, By Region, 2014-2022 (%)
Figure 37. Global Wearable Technology Market, By Application, 2015 (%)
Figure 38. Global Wearable Technology Market Revenue From Lifestyle Segment, 2014-2022 ($Million)
Figure 39. Wearable Technology Market Share From Lifestyle Segment, By Region, 2014-2022 (%)
Figure 40. Global Wearable Technology Market Revenue From Healthcare Segment, 2014-2022 ($Million)
Figure 41. Wearable Technology Market Share From Healthcare Segment, By Region, 2014-2022 (%)
Figure 42. Global Wearable Technology Market Revenue From Defense Segment, 2014-2022 ($Million)
Figure 43. Wearable Technology Market Share From Defense Segment, By Region, 2014-2022 (%)
Figure 44. Global Wearable Technology Market Revenue From Fitness & Sports Segment, 2014-2022 ($Million)
Figure 45. Wearable Technology Market Share From Fitness & Sports Segment, By Region, 2014-2022 (%)
Figure 46. Global Wearable Technology Market Revenue From Entertainment Segment, 2014-2022 ($Million)
Figure 47. Wearable Technology Market Share From Entertainment Segment, By Region, 2014-2022 (%)
Figure 48. Global Wearable Technology Market Revenue From Enterprise And Industrial Segment, 2014-2022 ($Million)
Figure 49. Wearable Technology Market Share From Enterprise And Industrial Segment, By Region, 2014-2022 (%)
Figure 50. Global Wearable Technology Market Share, By Region, 2015 (%)
Figure 51. Apple Inc: Revenue, 2014-2016 ($Million)
Figure 52. Apple Inc: Revenue By Segment, 2016 (%)
Figure 53. Apple Inc: Revenue, By Geography, 2016 (%)
Figure 54. Fitbit, Inc.: Revenue, 2014-2016 ($Million)
Figure 55. Fitbit, Inc.: Revenue, By Geography, 2016 (%)
Figure 56. Sony Corporation: Revenue, 2014-2016 ($Million)
Figure 57. Sony Corporation: Revenue By Segment, 2016 (%)
Figure 58. Sony Corporation: Revenue, By Geography, 2016 (%)
Figure 59. Samsung: Revenue, 2014-2016 ($Million)
Figure 60. Samsung: Revenue, By Segment, 2016 (%)
Figure 61. Samsung: Revenue, By Geography, 2016 (%)
Figure 62. Garmin Ltd.: Revenue, 2014-2016 ($Million)
Figure 63. Garmin Ltd.: Revenue, By Segment, 2016 (%)
Figure 64. Garmin Ltd.: Revenue, By Geography, 2016 (%)
Figure 65. Huawei Technologies: Revenue, 2014-2016 ($Million)
Figure 66. Huawei Technologies: Revenue, By Segment, 2016 (%)
Figure 67. Huawei Technologies: Revenue, By Geography,
2016 (%)
Figure 68. Lg Corporation: Revenue, 2014-2016 ($Million)
Figure 69. Lg Corporation: Revenue, By Segment, 2016 (%)
Figure 70. Lg Corporation: Revenue, By Geography, 2016 (%)
Figure 71. Motorola Solutions, Inc.: Net Revenue,
20132015 ($Million)
Figure 72. Motorola Solutions, Inc.: Net Revenue, By Geography, 2015 (%)
Figure 73. Nike Inc.: Revenue, 2014-2016 ($Million)
Figure 74. Nike Inc: Revenue, By Segment, 2016 (%)
Figure 75. Nike Inc: Revenue, By Geography, 2016 (%)
Figure 76. Adidas Group: Revenue, 2014-2016 ($Million)
Figure 77. Adidas Group: Revenue, By Segment, 2016 (%)
Figure 78. Adidas Group: Revenue, By Geography, 2016 (%)
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The wearable technology market size was $19,633 million in 2015, and is projected to reach $57,653 million by 2022, growing at a CAGR of 16.2% from 2016 to 2022. North America is expected to be the leading contributor to the global wearable technology market, followed by Europe and Asia-Pacific.

The growth of the global wearable technology market is driven by convenient usage of wearables and entry of various smartphone manufacturers. In addition, rise in health concerns among consumers fuels the adoption of wearable devices, which enable them to provide real-time information on their overall health. Multiple benefits offered by these devices such as GPS tracking, heart monitoring, and notification alert further supplement the wearable devices market growth. Moreover, rise in disposable income of consumers and increase in standard of living propel the growth of the global wearable technology market. However, increase in security concerns is projected to hamper the market growth, as the risk of data leakage is a major issue for users. Moreover, the limited battery life and high manufacturing cost restrain the market growth. Advancement in wearable devices technology is expected to provide numerous growth opportunities for the market.

In 2015, wrist wear segment accounted for the maximum revenue shares in the overall wearable technology industry, owing to the flexibility provided by wearables. Moreover, wearables can be used to monitor heart rate and blood pressure, thus reducing the hospital bills. In addition, rise in demand for wearable devices from North American and European countries is expected to have a positive impact on the market growth, as these regions have strong economic base. The smartwatch segment is expected to witness the fastest growth, registering a CAGR of 19.9%. Technological advancements in wearable electronics such as introduction of smart rings, innovative body wear, baby monitors, and others are anticipated to provide growth opportunities for the market.

The fitness & sports segment dominated the wearable technology market with over 39% share in 2015, and is projected to maintain this trend throughout the forecast period. However, Entertainment sector is anticipated to grow at a highest CAGR of 35.7% during the forecast period. The growth of the consumer application is expected to be driven by increase in awareness of wearables and innovative features & benefits provided by the wearable product manufacturers.

North America accounted for the major share of the global wearable technology industry in 2015, and is expected to maintain its dominance during the forecast period, owing to rise in demand for convenient wearables. Asia-Pacific is estimated to grow at the highest rate due to increase in the adoption of technologically advanced products; growth in demand for smart wearables; and extensive economic growth in developing countries such as China and India.

Key findings of the Wearable Technology Market

In 2015, the wrist wear segment accounted for the maximum revenue, and is projected to grow at a notable CAGR of 16.6% during the forecast period.
North America held the highest market share in 2015, and is anticipated to dominate the global wearable technology market throughout the forecast period.
China is the major shareholder in the Asia-Pacific wearable technology market, accounting for more than 34% share in 2015.

The key players profiled in the wearable technology industry include Apple Inc., Fitbit, Inc., Garmin Ltd., Adidas AG., Nike, Inc., Samsung Electronics Co., Ltd., Sony Corporation, Huawei Technologies Co., Ltd., LG Electronics Inc., and Motorola Solutions Inc. These players have adopted various strategies such as product launch, collaboration & partnership, and acquisition to expand their foothold in the wearable technology market. Apple introduced Apple Watch Nike+, which is an important tool for runners, pairing exclusive Nike Sport Bands with Apple Watch Series 2, which features GPS, a two times brighter display, water resistance up to 50 m, a powerful dual-core processor, and watchOS 3. The introduction of technologically advanced products is likely to gain acceptance among the tech savvy people, specifically in developed regions of North America and Europe.
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