Dallas, TX -- (SBWIRE) -- 03/19/2014 -- According to a new market research report "Wearable Electronics Market and Technology Analysis (2013 - 2018): By Components (Sensors, Battery, Display, Networking); Applications (Consumer, Healthcare, Enterprise); Products (Smart -Textiles, Glasses, Watches);e-Materials and Geography".
Browse 90 market data tables and 132 figures spread through 380 pages and in-depth TOC on “Wearable Electronics Market”.
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The global wearable electronics market was worth more than $2.5 billion in revenue in 2012 and is expected to cross $8 billion in 2018, growing at a healthy CAGR of 17.7% from 2013 to 2018. In terms of products, wrist-wear accounted for the largest market revenue in 2012, with total revenue of the most established wearable electronic products - wrist-watches and wrist-bands combined, crossing $850 million.
Among application sectors, consumer applications accounted for the largest market share, with revenue crossing $2 billion, as of 2012. However, that of enterprise and industrial applications is expected to grow at the highest CAGR (more than 21%), during the forecast period of 2013 to 2018.
The global wearable technology ecosystem’s value was estimated to more than $4 billion as of 2012, and is expected to reach cross $14 billion by 2018, growing at a CAGR more than 18% from 2013 to 2018. The total addressable market (TAM) for wearable technology is estimated to be more than $14 billion, as of 2012, and the current level of penetration for wearable technology was estimated to be roughly 18%. This market penetration rate of wearable technology is expected to accelerate (increasing rate of penetration every year) over the next five years, reaching roughly 46% penetration level in the TAM, by 2018.
Wearable Electronics, often also referred as wearable computing or wearable technology, is the most buzzing next-generation aspect in the consumer electronic and computing technology industry in the current scenario. It is expected to be the next big thing in the field of computing, with a new generation of electronic gadgets creating a wave similar to that created by the global smartphone revolution. As such, it comes as no surprise that increasing number of technology giants are betting high on wearable products and devices.
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Wearable technology may not have had a “ubiquitous” influence as yet, but the long term prospect does seem exciting, and holds promises of a brighter future for the wearable devices and gadgets. From the much awaited “Google Glass” to the newly launched Samsung smart-watch, the industry is abuzz with new products and seems on the right track to emerge as a winning technology in the coming years. Players, both big and small, all across the value chain, are battling it out to seize the opportunity and grab a pie in the market. In this article, we attempt to identify the challenges and discuss the future roadmap of the industry.
The major technological barrier that the wearable technology faces is the power and performance of the computing components that go into it. Usually, the main issue revolves around the size, as tiny computing devices essentially need very small computing chips. In recent past, there have been some remarkable developments at the chip-level; and that has, in turn, heated up the processor-war among leading players such as Intel, ARM, and Qualcomm.
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