Press release
Wearable Technology Market 2030 - Opportunities, Challenges, Strategies, Industry Verticals and Forecasts
While wearable technology has been utilized in vertical sectors such as the military and healthcare industries for many years, ongoing advances have triggered a major resurgence of the concept, particularly among the consumer community. Key enabling technologies including low cost sensors, wireless connectivity, active materials and energy have converged to make wearable technology mainstream.
With the continued miniaturization of enabling technologies, wearable devices have hit the mass market in a diverse variety of form factors – ranging from smartwatches and fitness trackers to smart glasses to hearables.
Driven by the ability to interconnect with key modern trends of healthcare, fitness, messaging and socialization, the wearable technology ecosystem is attracting significant levels of interest. Companies as varied as smartphone OEMs, mobile operators, health insurers and retailers are circling the ecosystem alongside tiny startups, all vying for a stake.
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SNS Telecom & IT estimates that wearable device shipments will grow at a CAGR of approximately 22% between 2018 and 2021. By the end of 2021, wearable devices will represent a market worth $45 Billion with over 250 Million annual unit shipments.
The “Wearable Technology Ecosystem: 2018 – 2030 – Opportunities, Challenges, Strategies, Industry Verticals & Forecasts” report presents an in-depth assessment of the wearable technology ecosystem including market drivers, challenges, enabling technologies, consumer and enterprise applications, key trends, case studies, opportunities, future roadmap, value chain, ecosystem player profiles, vendor market share and strategies. The report also presents forecasts for wearable device shipments and revenue from 2018 through to 2030. The forecasts cover 9 device form factor submarkets, 7 vertical markets, 6 regions and 73 countries.
The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report.
Topics Covered
The report covers the following topics:
Wearable technology ecosystem
Market drivers and barriers
Key enabling technologies and concepts including low cost sensors, wireless connectivity, voice recognition and augmented reality
Analysis of vertical markets and applications – for consumer, healthcare, professional sports, retail & hospitality, military, public safety and 8 other sectors
Case studies of 10 wearable technology deployments – reviewing solutions, vendors, applications and feedback from end users
Wearable device vendor market share
Prospects of smartphone OEMs and cellular chipset suppliers in the wearable technology ecosystem
Impact of 5G NR (New Radio), cellular IoT and ProSe (Proximity Services) on wearable technology
Industry roadmap and value chain
Profiles and strategies of more than 360 leading ecosystem players including wearable technology suppliers and vertical domain specialists
Strategic recommendations for enabling technology providers, wearable device OEMs, application developers and mobile operators
Market analysis and forecasts from 2018 till 2030
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Forecast Segmentation
Market forecasts on are provided for each of the following submarkets and their subcategories:
Form Factor Submarkets
Smart Bands
Smartwatches
OS-Powered Smartwatches
Basic Smartwatches
Smart Glasses
Smart Clothing
Smart Earwear
Smart Jewelry
Heads-up Displays
Others
Vertical Submarkets
Consumer
Healthcare
Professional Sports
Retail & Hospitality
Military
Public Safety
Others
Regional Markets
Asia Pacific
Eastern Europe
Latin & Central America
Middle East & Africa
North America
Western Europe
Country Markets
73 Country level markets: Algeria, Argentina, Australia, Austria, Bangladesh, Belarus, Belgium, Bolivia, Bosnia & Herzegovina, Brazil, Bulgaria, Canada, Chile, China, Colombia, Croatia, Czech Republic, Denmark, Ecuador, Egypt, Finland, France, Germany, Greece, Hong Kong, Hungary, India, Indonesia, Ireland, Israel, Italy, Japan, Kenya, Luxembourg, Malaysia, Mexico, Morocco, Netherlands, New Zealand, Nigeria, Norway, Pakistan, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Serbia, Singapore, Slovakia, South Africa, South Korea, Spain, Sudan, Sweden, Switzerland, Taiwan, Tanzania, Thailand, Tunisia, Turkey, UAE, UK, Ukraine, Uruguay, USA, Uzbekistan, Venezuela and Vietnam
Key Questions Answered
The report provides answers to the following key questions:
How big is the wearable technology ecosystem?
What trends, challenges and barriers are influencing its growth?
How is the ecosystem evolving by segment and region?
What will the market size be in 2021 and at what rate will it grow?
Which vertical markets will see the highest percentage of growth?
How do standardization and regulation impact the adoption of wearable technology for the healthcare industry and other sectors?
What opportunities exist for cellular chipset suppliers in the wearable technology ecosystem?
How can mobile operators capitalize on the growing popularity of smartwatches, fitness bands, smart glasses and other wearable devices?
What are the future prospects of hearables and other emerging form factors?
Who are the key ecosystem players and what are their strategies?
What strategies should wearable technology suppliers and vertical domain specialists adopt to remain competitive?
Key Findings
The report has the following key findings:
SNS Telecom & IT estimates that wearable device shipments will grow at a CAGR of approximately 22% between 2018 and 2021. By the end of 2021, wearable devices will represent a market worth $45 Billion with over 250 Million annual unit shipments.
In terms of annual wearable device unit shipments, the top 5 vendors – Apple, Xiamo, Fitbit, Samsung and Garmin – collectively account for more than 55% of the market.
Cellular connectivity and associated advanced capabilities – such as VoLTE (Voice over LTE) – are increasingly being integrated into consumer oriented wearables such as smartwatches.
SNS Telecom & IT estimates that wearable devices will help mobile operators drive more than $12 Billion in service revenue by the end of 2021, following a CAGR of approximately 36% between 2018 and 2021.
As wearable technology vendors seek to minimize dependence on hardware sales, new business models are continuing to gain popularity – ranging from corporate wellness programs to sports performance analytics.
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Table of Contents
1 Chapter 1: Introduction 30
1.1 Executive Summary 30
1.2 Topics Covered 32
1.3 Forecast Segmentation 33
1.4 Key Questions Answered 35
1.5 Key Findings 36
1.6 Methodology 37
1.7 Target Audience 38
1.8 Companies & Organizations Mentioned 39
2 Chapter 2: An Overview of Wearable Technology 43
2.1 What is Wearable Technology? 43
2.2 Device Classification 43
2.2.1 Head-Worn Devices 43
2.2.2 Wrist-Worn Devices 43
2.2.3 Leg and Ankle-Worn Devices 44
2.2.4 Arm, Chest and Neck-Worn Devices 44
2.2.5 Smart Clothing & Jewelry 44
2.2.6 In-Body Wearables 45
2.3 Enabling Technologies 46
2.3.1 MEMS & Sensors 46
2.3.2 BT-LE (Bluetooth Low Energy) & Wi-Fi 46
2.3.3 Voice Recognition 47
2.3.4 Lowed Powered Wireless SoCs 47
2.3.5 RFID & NFC 48
2.3.6 GPS & Navigation Technology 48
2.3.7 Energy Harvesting 48
2.3.8 Ergonomics & Materials Science 49
2.3.9 Augmented Reality 49
2.4 Market Growth Drivers 50
2.4.1 Proliferation of Smartphones 50
2.4.2 Advances in Enabling Technologies & Components 50
2.4.3 Interest from New Market Segments 51
2.4.4 Human Centric Assistance 51
2.4.5 Meaningful Analytics & Tracking 51
2.4.6 Venture Capital, Crowdfunding & Corporate Investments 52
2.4.7 Endorsement by Major Mobile OEMs 52
2.5 Market Barriers 52
2.5.1 High Costs 52
2.5.2 Power Consumption & Battery Life Issues 53
2.5.3 Usability & Unusual Styling 53
2.5.4 Potential Health Issues 53
2.5.5 Privacy & Security Concerns 54
2.5.6 Social Acceptance 54
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