DUBLIN--(BUSINESS WIRE)--The "Wearable Device Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The wearable devices market was valued at US$24.486 billion in 2019. Wearable devices keep a track of real-time information on the activities of its user and can be worn on the body with ease and comfort. They include inter-alia, analog-watches, smartwatches, glasses and fitness trackers. With technological advancements, wearable devices are becoming a target for innovation and development.
For instance, synchronization of watches with smartphones is an evolving technology with a slew of novel features being incorporated into the devices; the Internet of Things (IoT) is being integrated into devices to bring sophistication to them; Smart Shirts make tracking health-related metrics seamlessly. Eye-wear or glasses have been embedded with a calling feature to expedite and ease the task of receiving the phone.
The rise of social media usage and the underlying tendency towards remaining updated with its posts is driving the demand for this market. Increasing Convenience in the handling of devices is a reason why people use wearable devices. The Global Wearable Device Market is growing due to its increasing adoption of diverse applications. The number of functions performed by smartwatches is on a rising spree with heavy investments by companies in their Research and Development projects. The development of smartwatches has brought a radical transformation in the watch industry and made wearing smartwatches a status symbol.
The growing health awareness at the global level is contributing to the market growth in the forecast period. A plethora of obesity and diabetes cases are getting added every day which requires people to keep track of their activities, calorie intake, cholesterol levels, heartbeat rate, blood pressure, sleeping patterns, etc. Wearable devices serve this purpose. Personal grooming is also a booming industry which indirectly impacts the growth of this market, for instance- people doing gym can maintain their calorie intake through such devices.
On the flip side, there is also a privacy or security concern that gets attached to the use of such devices. Information of the user that gets populated in the devices is vulnerable to be misused. Battery life and a shorter life span are some of the constraints that deter people from buying such products. Companies have to incur a lot of expenditure towards Research & Development to remain competitive in the industry.
- Apple, Inc.
- Zephyr Technology Corporation
- AiQ Smart Clothing
- Xiaomi Technology Co. Ltd.
- LG Electronics
- Garmin Ltd.
- Huawei Technologies Co., Ltd
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Wearable devices Market Analysis, by Products
5.5. Fitness Trackers
6. Wearable devices Market Analysis, by End Users
6.2. Personal Users
7. Wearable devices Market Analysis, by Connectivity Medium
8. Wearable devices Market Analysis, by Connectivity Medium
8.2. Computer Technology
8.3. Display Technology
8.4. Networking Technology
8.5. Positioning Technology
8.6. Sensor Technology
9. Wearable devices Market Analysis, by Geography
9.2. North America
9.3. South America
9.5. The Middle East and Africa
9.6. Asia Pacific
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/25ckig