Pune, India -- (SBWIRE) -- 01/09/2018 -- Market Scenario:

The electronic gadgets or technology devices that can be worn on the body as an accessory or as a part of clothing are called as wearable technology gadgets. The wearable gadgets use sensors to connect. Rising popularity of smart phones, mobile networks, mobile applications, computing, broadband connectivity and others are the major contributors of wearable technology market.

The wearable technology leads to business opportunities in new markets. Benefits of Wearable technology can be given as the Wearable technology is power efficient, has small footprint and others. The study indicates the adoption of miniaturized sensors, innovations in medical and automotive sectors are driving the Wearable Technology Market. Factors such as many niche markets, less competitors, low barriers and no standard devices type would boost the wearable technology market by the forecast period.

The wearable technology can be differentiated depending on the product type as wristwear, Headwear and Eyewear, Neckwear, Smart Clothing, Wearable cameras and Implants. The wristwear devices available in market include fit-bands, smart watches and others, the head wear and eyewears devices available in market are head-mounted display and Google glass. As the wearable devices are still in development phase and very new to the market, usability is an issue in the wearable technology market. Wearable devices have a low battery life which is one of the restraining factor for wearable technology market.

The global industrial automation market is expected to grow at USD ~50 Billion by 2022, at ~16% of CAGR between 2016 and 2022.

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Key Players

The prominent players in the Wearable technology market are Adidas AG (Germany), Xiaomi Inc. (China), Apple Inc. (U.S.), Google Inc. (U.S.), Garmin Ltd. (U.S.), Fitbit (U.S.), Jawbone (U.S.), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), Qualcomm Technologies, Inc. (U.S.), Nike, Inc. (U.S.), Lifesense Group (The Netherlands), Misfit, Inc. (U.S.) among others.

Wearable technology Market Segmentation

Wearable Technology Market has been segmented on the basis of product, technology, components and application. Looking through the product segment it's been observed that wristwear products are dominating the wearable technology market where as the smart clothing's products are expected to show a substantial increase in Wearable technology market. The wearable technology market is dominated by consumer electronics sector. However the fitness and wellness sector and the healthcare sector are showing a positive growth towards wearable technology.

Recently, it has been observed that many companies are developing new wearable technologies for the smart clothing segment. Google Inc. is going to launch a new wearable technology named Jacquard, it a smart- jacket. Many other companies like Nike, Adidas have their wearable products like smart t-shirts, smart shoes and others.

Market Research Analysis:

Regional analysis for Wearable technology market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region would account for larger share in wearable technology market followed by Europe. It has been observed that North America region has technological developments and IT modernization which has resulted in the growth of Wearable Technology Market.
The study reveals that Asia-Pacific region is expected to have a significant growth in wearable technology market by the forecast period. Asia-Pacific countries like China, India and Korea have maximum smartphone penetration which is the primary growth driver for the Asia-Pacific region.

Study Objectives of Wearable Technology Market:

- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Wearable Technology market.
- To provide insights about factors affecting the market growth.
- To analyze the Wearable Technology market based porter's five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment on the basis of type, application, end -users and region.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Wearable Technology.
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Intended Audience

- Technology investors
- Consumer wearable manufacturers
- Healthcare-related product manufacturers
- Integrated device manufacturers (IDMs)
- Wearable electronics technology platform developers
- Original manufacturers (OEMs)
- Smart grid integrators
- Surface mount component device distributors and providers
- Research/Consultancy firms

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Market Research Future
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