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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Market Segmentation
The wearable computing market has been segmented on the basis of technology, product, end-user, and region in MRFR's report. Technology has been segmented to include display technology, networking technology, and other technology. Display technology has been further segmented to include augmented reality, and virtual reality. Further sub-segmentations have been included in the report.
Products in the market have been segmented into activity monitoring device, smart clothing textiles, wearable camera, and virtual reality eyewear.
End-users have been segmented into home automation, medical healthcare, defense security, enterprise industrial, infotainment, gaming, fitness wellness, and other applications.
Key Players
Some of the key players of Wearable Computing Market include Nike Inc. (U.S.), Pebble Technology Corporation (U.S.), Valve Corporation (U.S.), Zephyr Technology Corporation (U.S.), Samsung Electronics Co., Ltd (Republic of Korea), Smartlife Technology Ltd (Manchester), Fitbit Inc. (U.S.), Apple Inc. (U.S.), Adidas AG (Germany), LG Electronics, Inc. (Republic of Korea), Motorola Mobility Holdings, Inc. (U.S.), Sony Corporation (Japan), Philips Healthcare (Amsterdam), Microsoft Corporation (U.S.), and Boston Scientific Corporation (U.S.)
Regional Analysis
North America leads the market with the largest share due to the presence of the U.S and Canada, which make up the majority of the region and are highly developed. The consumers in these regions have high disposable incomes and a high affinity for the adoption of smart gadgets and other personal devices that are highly advanced in nature. The presence of market leaders in the region, as well as the ongoing development of wearable computing devices, is expected to help the region retain its majority share. The Asia Pacific meanwhile is growing rapidly due to the presence of various emerging economies which are also industrial hubs for electronics. Moreover, the rising awareness regarding advanced wearable devices and the rising disposable income in rapidly urbanizing economies will likely lead to significant growth for the APAC market.
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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Target Audience:
- Research Firms.
- Government Agencies
- Wearable smart device and accessories manufacturers.
- Military and security systems and equipment manufacturers.
- Multimedia marketing and gaming industries.
- Cloud services providers
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