Wearable Computing Devices Market Projected to Gain Significant Value by 2020
The global wearable computing devices market is categorized based on various consumer and non-consumer applications. The consumer application segment is further sub-segmented into activity trackers, smart glasses, wearable cameras, smart clothing, smart watches and gaming devices. The non-consumer application segment is divided healthcare, industrial and defense.
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In terms of geographic, North America and Europe dominates the global wearable computing devices market due to increased awareness among people towards these devices. Raised awareness among people towards wearable computing technology has increased the adoption rate of these devices in the region. The U.S. represents the largest market for wearable computing devices followed by Canada in North America. In Europe, France, Germany, Spain and the U.K. holds major share of wearable computing devices market. However, Asia is expected to show high growth rates in the next five years in global wearable computing devices market. China and India are expected to be the fastest growing wearable computing devices markets in Asia.
In recent time, advanced features of these devices is key driver for the global wearable computing devices market. Advanced features, such as light weight and data monitoring applications attract end users to adopt wearable computing devices. In addition, technological advancements in material sciences and information technology have also fueled the growth of global wearable computing devices market. However, high cost of wearable devices and privacy concerns are some of the major restraints for the global wearable computing devices market. In addition, less battery back-up of these devices also obstructs the growth of global wearable computing devices market.
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Some of the major companies operating in the global wearable computing devices market are Contour, GoPro, NanoSonic, Weartech, Textronics, Himax Technology, Invensense Inc., CSR plc., Zephyr Technology Corporation, Smart Life Technology Co., Ltd., Silicon Micro Display, AiQ Smart Clothing Inc., Apple Inc., Ascension Technology Corporation, Carl Zeiss Inc., Casio Computer Company Ltd., GE Healthcare, Medtronic Inc., Siemens Healthcare and Samsung Electronics.
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