LONDON--(BUSINESS WIRE)--The smart necklace market size is expected to post a CAGR of close to 2% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The global geriatric population has increased significantly over the last five years, with the US and Japan witnessing the highest growth. Common health disorders that the aged population face are Alzheimer’s disease and dementia, both of which can be life-threatening. This has increased the demand for smart wearables such as smart necklaces that serve as GPS tracking devices. Smart necklaces can also be used to trigger alarms and send signals to pre-identified phone numbers in case of emergencies. Thus, the high prevalence of geriatric population will drive the demand for smart necklaces.
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As per Technavio, technical advances in smart necklaces will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Smart Necklace Market: Technical Advances
The adoption of smart necklaces is increasing among users, due to advances in smart wearables that include a range of features such as smart camera, message storage, hydration reminder, and self-charging case. Along with these features, vendors are also focusing on aesthetics and design of smart necklace. For instance, Chipp’d (TALSAM) has a variety of compatible smart pendants to help users personalize their accessories to suit different styles, outfits, and occasions. Thus, technical advances will be one of the key smart necklace market trends that will drive market growth.
“Other factors such as the rising crime rates that increase the demand for women safety devices, and increasing product launches will have a significant impact on the growth of the smart necklace market value during the forecast period,” says a senior analyst at Technavio.
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Smart Necklace Market: Segmentation Analysis
This market research report segments the smart necklace market by technology (Bluetooth and NFC) and geographical regions (APAC, North America, Europe, MEA, South America).
The North American region led the smart necklace market in 2018, followed by Europe, APAC, South America, and MEA respectively. The growth of the smart necklace market share in North America can be attributed to several factors such as the increase in penetration of smart jewelry, growing geriatric population, and rising healthcare expenditure in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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