Wearable Technology Market Size, Growth, Trend and Global Forecast to 2022

The wearable technology market size is expected to grow from USD 15.74 billion in 2015 to USD 51.60 billion by 2022, at a CAGR of 15.51% between 2016 and 2022. The market is expected to grow because of various driving factors, such as consumer preference for sophisticated gadgets, increasing growth prospects of next-generation displays in wearable devices, and growing popularity of Internet of Things (IoT) and connected devices.

The wearable technology market for the enterprise and industrial application is expected to grow at a highest CAGR between 2016 and 2022. This growth is mainly attributed to the increasing demand for wearable scanners and computing devices in warehouse, logistics, and other operations, where efficiency is inevitable. Enterprise and industrial wearable devices include compact, mobile, and wireless computing systems that could be worn on the body (for example, ring scanners) as well as various image scanners that find applications in the enterprise and industrial processes.

https://www.marketsandmarkets.com/Market-Reports/wearable-electronics-market-983.html

The wristwear product is expected to cover the maximum size of the wearable technology market between 2016 and 2022. The factor for this growth is attributed to key industry players who are introducing products with advanced features to serve customers’ need of fitness and healthcare. Wristwear measures fitness and healthcare parameters, which includes heartrate, calories, distance travelled, and steps. All such parameters could be synchronized with a mobile to store data. Moreover, people could access the mobile through wearable devices with the help of wristwears. So considering all such developments, it is estimated that wristwear would gain the maximum size of the wearable technology market between 2016 and 2022.

Some of the major companies in the wearable technology market, include Fitbit, Inc. (U.S.), Apple, Inc.(U.S.), Xiaomi Technology Co. Ltd. (China), Garmin Ltd. (U.S.), Samsung Electronics Co., Ltd.(South Korea), Guangdong BBK Electronics Co., Ltd (China), Misfit, Inc. (U.S.), Alphabet, Inc. (U.S.), LG Electronics Inc.(South Korea), Qualcomm Technologies, Inc. (U.S.), Adidas Group (Germany), Sony Corporation (Japan), Jawbone, Inc. (U.S.), and Lifesense Group (The Netherlands) among others.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=983

However, the wearable technology market faces some challenges associated with growing concerns such high initial costs and limited battery life, and unaddressed regulatory issues and vulnerability of healthcare information. This report describes the drivers, restraints, opportunities, and challenges pertaining to the market. Moreover, the report analyzes the current scenarios and forecasts the market until 2022. Furthermore, this report includes the market segmentation based on type, product, application, and region. 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Get more insight on other verticals of Semiconductor and Electronics Market Research Reports & Consulting

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
[email protected]