Albany, NY -- (SBWIRE) -- 11/28/2016 -- A new report by Transparency Market Research (TMR) states that the growing preference for high-end gadgets with advanced features among consumers is most prominently impacting the global market for wearable electronics. The study, titled "Wearable Electronics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020," offers a detailed assessment of this market on the basis of the trends and the opportunities. As per the research report, the increasing preference of consumers for smart devices that can be worn, such as smart watches and smart glasses, is the factor behind the growth of the global market for wearable electronics.
On the other hand, the high cost of wearable electronics is likely to limit their sales in the near future. The increasing concerns over privacy are also expected to restrict the usage of wearable electronics, hampering the growth of this market to some extent in the coming years, notes the research study.
The report has studied the global market for wearable electronics on five fronts: The type of component, product, application, technology, and the geography. By the type of component, the market has been classified into networking and positioning, power supply, sensing, optoelectronic and display, controls, and interface. Based on product, the market has been categorized into eyewear, wrist wear, footwear, body wear, neck wear, headwear, and finger wear.
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The medical and healthcare, industrial, consumer, and commercial sectors have been studied as the key application areas of wearable electronics in the research report. By technology, the report segments the market into computing technologies, display technologies, positioning technologies, speech recognition technologies, networking technologies, and sensor technologies.
On the basis of the geography, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa have been identified as the main segments of the global market for wearable technologies in this research report. North America and Europe, due to the early adoption of technology, have emerged as the key regional markets for wearable electronics. However, the growing proliferation of smart devices in emerging economies in Latin America, Asia Pacific, and the Middle East and Africa is projected to offer lucrative growth opportunities to wearable electronics manufacturers, reports the study.
A study of the competitive landscape of the global wearable electronics market has also been included in this report. According to it, Adidas AG, Apple Inc., Google Inc., AT&T Inc., Epson Corp., Shimmer Research Inc., GlassUp SRL, Imprint Energy Inc., Nike Inc., Infineon Technologies AG, and Weartech S.L. are the leading manufacturers of wearable electronics across the world.