According to the new market research report, “Wearable Technology Market, by Products (Smart Clothing & Smart Glasses, Sleep Sensors, Smart Watches, Activity Monitors, Augmented Reality Headsets, Continuous Glucose Monitors, Heart Rate Monitors, Drug Delivery Devices, Hand Worn Terminals, Wearable Patches, Jewelries), Application (Infotainment, Fitness & Wellness, Healthcare & Medical, Industrial & Military, Safety & Security, Fashion & Lifestyle) – Global Revenue, Trends, Growth, Share, Size and Forecast to 2021“, published by Scalar Market Research, the global wearable technology market is anticipated to grow from USD 29.92 billion in 2016 and reach USD 71.23 billion by 2021, growing at a CAGR of 18.9% during the forecast period.
The global wearable technology market report offers in-depth analysis of the market size (revenue), market share, major market segments, different geographic regions, key players, premium industry insights, latest cutting-edge technology trends and forecast to 2021. It also focuses on the key drivers and opportunities in this market.
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Key findings of the report:
Fashion and lifestyle to dominate the market in application segment
The wearable technology market report advocates that the emerging fashion & lifestyle segment is expected to grow at the fastest CAGR during the forecast period, due to the high demand and the increasing awareness towards fitness. Other regions such as industrial & military and safety & security are also estimated to witness a strong growth in the application segments of the market in the coming years.
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North America: Expected to dominate the wearable technology market
According to the wearable technology market report, North America and Europe are expected to be the leaders in this market during the forecast period, with North America leading the pack. The growth in the disposable income and the rapid adoption & popularity of the advanced gadgets are some of the major drivers for the market in these geographic regions.
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The key players highlighted in the wearable technology market report include:
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