Transparency Market
Research, a leading U.S.-based market research and analysis firm, has
released a new report on the global market for wearable technology.
This comprises devices worn on the body rather than carried around
like other consumer electronics. The two main purposes of wearable
technology are to monitor various bodily markers and to keep the user
connected to the digital world by syncing to parent electronic
devices such as smartphones. Within the former, some wearable devices
can also compute data gained from the markers they monitor and take
actions such as drug delivery in response.The market for wearable
technology is on the rise owing to growing demand from younger
demographics and the high computing power wearable devices provide in
a relatively small and compact size. The global wearable technology
market, according to TMR’s research report, was worth US$750
million in 2012. It is expected to make further gains in the coming
years, at a CAGR of 40.8% from 2012 to 2018. The 2018 value of the
global wearable technology market is expected to be US$5.8 billion, a
jump of close to 800% on its 2012 value.The TMR report, titled
‘Wearable Technology Market - Global Scenario, Trends, Industry
Analysis, Size, Share and Forecast 2012 - 2018’, is available for
sale on TMR’s website.
Browse the full
Wearable Technology Market report at:
The report
categorizes the global wearable technology market by end use into the
following sections: Fitness and wellness, further subcategorized into
smart clothing and smart sports glasses, activity monitors, and sleep
sensors; the infotainment sector, further subcategorized into
smartwatches, augmented reality headsets, and smart glasses; the
healthcare and medical sector, further subcategorized into continuous
glucose monitors, smart drug delivery devices, wearable patches, and
other monitors; the industrial and military sector, further
subcategorized into hand-worn terminals and augmented reality
headsets.
Get the Free
Sample Research Report of Wearable Technology Market at:
Growing awareness
among the global populace regarding their wellbeing, the major
driving factor of the global wearable technology market, is reflected
in the hierarchy of the market, as the medical and healthcare end-use
sector took up a dominant 35.1% share in 2012. Fitness and wellness
followed the healthcare sector as the largest end user of wearable
electronic devices. Continuous glucose monitors are a significant
segment in the medical and healthcare sector owing to the growing
prevalence of diabetes in the emerging economies of Asia Pacific and
Latin America. Insulin delivery devices also play a major role in the
dominance of the medical and healthcare sector in the global wearable
technology market.By geography, the global market for wearable tech
is divided into North America, Asia Pacific, Europe, and Rest of the
World. Due to a high proportion of the population in the U.S. and
Canada being tech-savvy, health-conscious, and affluent enough to
purchase and use wearable devices, North America is expected to
remain the leading regional segment of the global wearable technology
market, with an expected 43% share by 2019.
However, lack of
such consumers is hampering wearable technology in regions such as
Asia Pacific, Latin America, and Africa. The market is expected to
remain above par in these regions, but growth will be slow and prone
to fluctuations.Major players in the global wearable technology
market include Adidas, Medtronic, Abbott Laboratories, Eurotech,
Sony, Nike, and Google Inc.
Browse the Press
Release of Wearable Technology Market at:
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Transparency Market
Research (TMR) is a global market intelligence company providing
business information reports and services. The company’s exclusive
blend of quantitative forecasting and trend analysis provides
forward-looking insight for thousands of decision makers. TMR’s
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business reports.
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