Market Analysis
Market Research Future (MRFR) presumes the global wearable computing market size to reach approximately USD 35 Billion at a 15% CAGR from 2017-2023 (forecast period).
Several Factors Contributing to Market Growth
Wearable computing can be designed for a variety of industrial sectors, including defense and security, home automation, medical and healthcare, enterprise and industrial, fitness and wellness, entertainment, gaming, and others. Healthcare and medical, as well as fitness and wellness, are predicted to develop significantly in the coming years. This is attributed to a rise in health consciousness among the younger population. Recently, a few corporations have increased their investments in this growing technology. For example, fitness-oriented wristbands like Fitbit and Xiaomi are the most popular wearable, but they are expected to be surpassed by watches loaded with fashion brands that can be easily connected to the internet without syncing to smart gadgets such as smartphones.
The consumer market's increased use of smartwatches and wristbands, as well as rising interest in communication, networking, and recognition technologies for wearables, are likely to drive the wearable computing market over the forecast period.
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Market Segmentation
The global wearable computing market has been segmented on the basis of technology, product, and end user.
On the basis of technology, the global wearable computing market has been segmented into display technologies, networking technologies, and other technologies.
On the basis of product, the global wearable computing market has been segmented into smart clothing and textiles, activity monitoring device, wearable cameras, and virtual reality eyewear.
On the basis of end users, the global wearable computing market has been segmented into defense & security, home automation, medical & healthcare, enterprise & industrial, fitness & wellness, infotainment, gaming, and other applications.
Regional Analysis
North America to Lead the Global Market
North America is expected to be the industry leader in wearable computing. The United States and Canada are the region's leaders. This is due to the growing popularity of smart devices and increased investment in the development of wearable products.
Key Players
Notable players operating in the global wearable computing market are Nike Inc. (U.S.), Pebble Technology Corporation (U.S.), Valve Corporation (U.S.), Zephyr Technology Corporation (U.S.), Samsung Electronics Co., Ltd (Republic of Korea), Smartlife Technology Ltd (Manchester), Fitbit Inc. (U.S.), Apple Inc. (U.S.), Adidas AG (Germany), LG Electronics, Inc. (Republic of Korea), Motorola Mobility Holdings, Inc. (U.S.), Sony Corporation (Japan), Philips Healthcare (Amsterdam), Microsoft Corporation (U.S.), and Boston Scientific Corporation (U.S.).
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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