Wearable Computing Market – Overview
The availability of specific tech in wearable computing is motivating the expansion of the market. Market reports associated with the semiconductors and electronics industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is projected to attain revenues amounting to USD 35 Billion while expanding at a 15% CAGR in the duration of the forecast period.
The embodiment of humanistic intelligence in wearable computing is one of the main USPs powering the expansion of the market. The usage of wearable computing in clothing is expected to be the fastest growing application. Moreover, Healthcare and wellness applications are expected to steadily diversify the development of the market in the upcoming period.
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Segmental Analysis
The wearable computing market is segmented on the basis of product, technology and end user. On the basis of technology, the market is segmented into networking technologies, display technologies, and other technologies. The display technologies segment comprises of virtual reality and augmented reality. Also, the networking technologies segment is segmented into Wi-Fi and Bluetooth. On the basis of product, the market is segmented into activity monitoring device, smart clothing and textiles, wearable camera and virtual reality eyewear. The end user segment of the global wearable computing market is segmented into home automation, defense & security, medical & healthcare, fitness & wellness, infotainment, enterprise & industrial, gaming, and other applications.
Detailed Regional Analysis
The regional analysis of the wearable computing market covers regions such as Asia Pacific, North America, Europe, and the Rest of the World. The North American region is expected to be leading the wearable computing market. The U.S. and Canada are the foremost countries in this region. This is owing to the growing acceptance of smart gadgets and growing investment in developing wearable products.
Additionally, the European region is expected to have considerable growth over the forecast period. The nations such as France, Germany, and the U.K are the foremost countries contributing in the region’s development. This is credited to the enormous investment in research and development for smart wearable devices. The Asia Pacific region is also expected to be the most rapidly growing region in the wearable computing market over the forecast period. India, Japan, and China are the leading nations in the region due to increasing awareness among the younger generation.
Competitive Analysis
The management affinities in the market are strengthening the level of growth that can be achieved in the present market scenario. The capability to utilize the economies of scale is further proving to be beneficial for comprehensive market growth. The market is at an optimally productive level and will be capable of generating greater value for the firms in the market and its shareholders. Although, the market has also considerably neutralized the market advantages and thus is promoting an increase in the number of firms in the market. The diversification of the product assortment in the market is increasing the opportunity for the progress of the market. The growth operations are reviewed in tandem to the customer likings to accomplish the greatest growth, and in the long run, viability.
The foremost contenders in the wearable computing market are Pebble Technology Corporation (U.S.), Valve Corporation (U.S.), Motorola Mobility Holdings, Inc. (U.S.), Zephyr Technology Corporation (U.S.), Nike Inc. (U.S.), Sony Corporation (Japan), Samsung Electronics Co., Ltd (Republic of Korea), Fitbit Inc. (U.S.), Apple Inc. (U.S.), Adidas AG (Germany), LG Electronics, Inc. (Republic of Korea), Smartlife Technology Ltd (Manchester), Philips Healthcare (Amsterdam), Microsoft Corporation (U.S.), and Boston Scientific Corporation (U.S.)
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Industry Updates:
Oct 2018 Colgate-Palmolive Company has designated RealWear as its strategic provider of hands-free wearable computers for its industrial workforce. RealWear’s smart, voice-operated HMT-1 will be worn by hundreds of its mechanics and engineers across 20 of Colgate-Palmolive’s principal manufacturing facilities in 11 countries. With the innovative technology, Colgate-Palmolive employees will be able to troubleshoot machinery while keeping their hands free to work.
Oct 2018 Kopin Corporation, a foremost developer of innovative wearable computing technologies and solutions, announced recently that it has agreed to back the growth and commercialization of its next generation of head-mounted displays (HMD) designed for progressive medical and surgical applications. Kopin, and its partner Endopodium Inc., count on marketing the product under a new company, HMD/MD, which will make this next generation of wearable display systems.
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Wearable Computing MarketThe global wearable computing market is expected to grow at a CAGR of 15% and attain USD 35 Bn by the end of the forecast period of 2017–2023, as per a research report published by Market Research Future (MRFR).
The market is set to expand rapidly and gain prominence over the years.
Wearable computing technology is largely being used in fitness wellness and life-tracking applications such as smart sports glasses, activity monitors and sleep monitors which is gaining popularity among consumers who are keen on tracking man aspects of their lives.
Wearable computing has the ability to make health care more efficient by facilitating virtual monitoring service for chronic diseases and is finding fast adoption in the healthcare sector.
Novel developments are being added to the healthcare sector with the help of wearable computing technology such as digital medicines which is expected to bolster the growth of the market.
Extensive smartphone adoption is a factor which is likely to increase the chances of buying wearable computing devices that are tethered to those phones.
Market Highlights:Wearable computing is a shared relationship between man and machine.
This creates a unique differentiation between wearable computers and portable machines such as hand held devices and laptop computers which intensify the bond between human and computer to evolve the wearable computing as a concept of human intelligence.
The human intelligence is a framework which is an outcome of a communication bond between human and computational process.
For instance, a wearable device can be transformed into electric eyeglass where the user can interact and analyze the device without any interruption.The wearable computing technique are extensively used in different technologies such as augmented reality, diminished reality and mediated reality.
With the constant evolving technologies, the computing techniques can be implemented into smart watches and wristbands.The rising need and increase in adoption of techniques in wearable health and medical devices are expected to drive the Wearable Computing Market over the forecast period.
Additionally, diffusion of smart clothing in the European region in large investment is presumed to be gaining prospect over the next few years.On the other hand, high initial price range of wearable devices and lack of technical know-how are presumed to hinder the growth of wearable computing market over the review period.Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/5375Segmentation:The wearable computing has been categorized into technology, product, and end user.Based on the technology, the wearable computing is sub divided into display technologies, networking technologies, and other technologies.
Wearable Computing Market SizeThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Wearable Computing Market Size.
The growth sectors of the Wearable Computing Market Size are identified with precision for a better growth perspective.Wearable computing is technological trend which is increasingly creating an impact in daily life.
These devices are embedded into clothes, glasses, watches and shoes.
Going further, these devices are useful to click the pictures and is anticipated to be able to upload on social networking sites.
However, technical expertise and utilization of technology on a large scale is expected to be a major concern for the wearable computing market over the review period.FREE PDF@ https://www.marketresearchfuture.com/sample_request/5375The wearable computing market is bifurcated as technology, product, and end user.
Based on product, the wearable computing is further sub categorized into smart clothing & textiles, activity monitoring device, wearable camera and virtual reality eyewear.
