DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Wearable Technology Market by Device, by Product type and Geography - Global Opportunity Analysis and Industry Forecast, 2014-2022" report to their offering.
The wearable technology market size was $19,633 million in 2015, and is projected to reach $57,653 million by 2022, growing at a CAGR of 16.2% from 2016 to 2022. North America is expected to be the leading contributor to the global wearable technology market, followed by Europe and Asia-Pacific.
The growth of the global wearable technology market is driven by convenient usage of wearables and entry of various smartphone manufacturers. In addition, rise in health concerns among consumers fuels the adoption of wearable devices, which enable them to provide real-time information on their overall health. Multiple benefits offered by these devices such as GPS tracking, heart monitoring, and notification alert further supplement the wearable devices market growth. Moreover, rise in disposable income of consumers and increase in standard of living propel the growth of the global wearable technology market. However, increase in security concerns is projected to hamper the market growth, as the risk of data leakage is a major issue for users. Moreover, the limited battery life and high manufacturing cost restrain the market growth. Advancement in wearable devices technology is expected to provide numerous growth opportunities for the market.
North America accounted for the major share of the global wearable technology industry in 2015, and is expected to maintain its dominance during the forecast period, owing to rise in demand for convenient wearables. Asia-Pacific is estimated to grow at the highest rate due to increase in the adoption of technologically advanced products; growth in demand for smart wearables; and extensive economic growth in developing countries such as China and India.
Companies Mentioned
- Apple Inc.
- Fitbit, Inc.
- Garmin Ltd.
- Adidas AG.
- Nike Inc.
- Samsung Electronics Co., Ltd.
- Sony Corporation
- Huawei Technologies Co., Ltd.
- LG Electronics Inc.
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Motorola Solutions Inc.
Key Topics Covered:
CHAPTER 1. INTRODUCTION
CHAPTER 2. EXECUTIVE SUMMARY
CHAPTER 3. MARKET OVERVIEW
CHAPTER 4. WEARABLE TECHNOLOGY MARKET, BY DEVICE
CHAPTER 5. WEARABLE TECHNOLOGY MARKET, BY PRODUCT TYPE
CHAPTER 6. WEARABLE TECHNOLOGY MARKET, BY APPLICATION
CHAPTER 7. WEARABLE TECHNOLOGY MARKET, BY REGION
CHAPTER 8. COMPANY PROFILES
For more information about this report visit http://www.researchandmarkets.com/research/fmjx2g/wearable
