A blend of top-down and bottom-up approaches were used to come to the exact market sizes and development rates of the global wearable technology market and its segments. Various secondary information sources were used to find the overall revenues, product portfolios and geographic reach of the companies operating in the wearable technology market. Estimates of the products and application classification revenues were confirmed and validated through primary interviews. Primary interviews are conducted with various players in wearable ecosystem and key opinion leaders to confirm the provided percentage split and market share.
According to the new Market research study published by The Insight Partners, The Global Wearable Technology Market was estimated at US $26.19 billion in 2015. This market is expected to grow at a CAGR of 20.8% between 2016 and 2025, to reach US $170.91 Billion in 2025.
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The key drivers for this market are increasing adoption of mobile devices, increasing acceptance across various application areas and increasing spur in venture capital funding for various wearable ecosystems players.
The wearable technology market is divided on the basis of products and application, the products segment is further categorized on the basis of smart clothing & smart glasses, sleep sensors, smart watches, activity monitors, augmented reality headsets, continuous glucose monitor, heart rate monitors (HRMS), drug delivery devices, hand worn terminals, wearable patches, jewelries. The application segment is further classified on the basis of infotainment, fitness & wellness, healthcare & medical, industrial & military, safety & security, and fashion & lifestyle
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Currently, wearable technology devices have witnessed a significant adoption in the APAC countries. Furthermore, with growth in disposable incomes and technology adoption trends, several growing economies in regions are expected to experience high adoption of wearable technology solutions and devices. APAC currently holds the significant market share in the global wearable technology market, and is expected dominate the market during the forecast period. The region is estimated to register a growth rate of 22.6% during 2016 to 2025.
The report profiles major players such as. adidas Group, Apple, Inc., Fitbit Inc., Garmin International Inc., Google, Inc., Intel Corporation, Jawbone, Koninklijke Philips N.V, LG Electronics Inc., Medtronic, Inc., Microsoft Corporation, Nike, Inc., Pebble Technology Corporation, Qualcomm, Inc., Samsung Electronics Co., Ltd, Sony Corporation, Suunto Oy and Xiaomi Inc.
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