Albany, NY -- (SBWIRE) -- 12/17/2014 -- The Europe wearable technology market is expected to grow at a CAGR of 42.1% from 2014 to 2019. The market was valued at US$308.69 million in 2013, and will reach an estimated market worth of US$2,545.51 million in 2019. A research report titled "European Wearable Technology Market - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019" has been released by Transparency Market Research. The 54 pages and three-chaptered report provides valuable insight into the Europe wearable technology market.

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The report says that the wearable technology market is a niche one that is dominated by very few players that stake their majorities. The prices for wearable technology are therefore high due to the lack of competition. At the same time, the market application segments of wearable technology span across areas such as infotainment, fitness and wellness, medical, healthcare, military, and industrial. The application segments of the wearable technology market are expected to increase in number over the report's forecast period of 2014 to 2019.

The Europe wearable technology market is currently dominated by Germany, which has the largest market consumption with 32% market share in 2012. Numerous development efforts and technological innovations that are exhibited through many conferences on technology have started creating a great deal of awareness in the consumers, driving the market's growth.

The report cites the example of the Wearable Technology Conference (WTC) that was recently held in Germany and was conducted by Wearable Technologies Service GmbH, which is an important company in the European market. The report shows how these conferences can help showcase the usefulness of wearable technology, thereby creating brand awareness and brand exposure. The conference also provides a platform for the experts of the wearable technology market and their thoughts further catalyze the growth of the wearable technology market in Europe.

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The report also discusses the growth of self powering wearable technology and its scope in the market.

The report chronicles the developments in the Europe wearable technology market from 2012. It gives the 2014 example where a Wearable Technology show was held in London. The show exhibited the various innovative products in the wearable technology market, such as the Optinvent Ora, a European alternative to Google Glass. The former is an augmented reality device with three times larger screen than the latter.

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The report also details the developments that occur in the segment of smart clothing. For instance, the report says that a U.K. based textile company is currently developing woven fabric that is electrically active. This fabric can be used in a range of functions from body armor, heated clothing, and garments connected to mp3 players.

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