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Wearable Technology Market Value USD 57.653 Billion by 2022

05-28-2020 07:56 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Valuates Reports

Wearable Technology Market Value USD 57.653 Billion by 2022

The wearable tech market size is expected to reach a market value of USD 57.653 Billion by 2022 from USD 19.633 Billion in 2016, growing with a notable CAGR of 16.2% during the forecast period.

The application for wearables is influenced by increased implementation across various verticals. Moreover, the technological advancements in software & hardware components, and their increased adoption in fitness, healthcare, and defense supports the growth of the wearable technology market. However, limited battery life and security concerns restrict the adoption of wearables in the wearable technology industry.

View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-2F15/wearable-technology

The report segments the global wearable technology market on the basis of devices, product type, application and geography. Based on devices, the global wearable technology market is categorized into smart watches, fitness and wellness devices, smart glasses, smart clothing and others. The smartwatches devices segment is expected to witness the fastest growth, registering a CAGR of 19.9%. Among the product type segment, the fitness & sports segment dominated the wearable technology market with over 39% share in 2015, and is projected to maintain this trend throughout the forecast period. However, Entertainment sector is anticipated to grow at a highest CAGR of 35.7% during the forecast period.

Get Detailed Analysis of COVID-19 Impact on Wearable Technology Market @ https://reports.valuates.com/request/sample/ALLI-Auto-2F15/Wearable_Technology

Key players profiled in the report are Apple Inc., Fitbit, Inc., Garmin Ltd., Adidas AG., Nike Inc., Samsung Electronics Co., Ltd., Sony Corporation, Huawei Technologies Co., Ltd., LG Electronics Inc., and Motorola Solutions Inc.

Increased Health Care Awareness

Growing concerns of obesity and other chronic diseases have led to adoption of wearable devices such as activity trackers and body monitors which provide real-time information about the overall health of the body. These wearable devices can provide information such as heartbeat monitoring, cholesterol levels, calorie intake, quality, and quantity of sleep, oxygen levels, blood pressure, as well as other information required by the body for day-to-day activities.

High Cost of Manufacturing

The initial cost of manufacturing the wearable devices is very high leading to high prices for the ultimate consumers. The producers of the wearable devices have to spend a lot of money on research, marketing & promotion, shipping, licensing, software, and development of wearables due to which the cost incurred is substantially high.

Wearable Technology Market Key Segments

By Devices:

o Smart watches
o Smart glasses
o Fitness & wellness devices
o Smart clothing
o Others (Earphones, body monitors, and wearable cameras)

By Product Type:

o Wrist wear
o Eye wear
o Hearables
o Body wear
o Neck wear

By Application:

o Lifestyle
o Healthcare
o Consumer applications
o Defense
o Fitness & sports
o Enterprise & industrial

By Geography:

o North America
o U.S
o Canada
o Mexico
o Europe
o U.K
o Germany
o France
o Rest of Europe
o Asia-Pacific
o India
o China
o Japan
o Rest of Asia-Pacific
o LAMEA
o Latin America
o Middle East
o Africa

Key Market Players

o Apple Inc.
o Fitbit, Inc.
o Garmin Ltd.
o Adidas AG.
o Nike Inc.
o Samsung Electronics Co., Ltd.
o Sony Corporation
o Huawei Technologies Co., Ltd.
o LG Electronics Inc.
o Motorola Solutions Inc.

Other Companies

o Fossil Group, Inc.
o Google Inc.
o Jawbone
o Misfit
o Pebble Technology Corp.
o Polar Electro, Inc.
o Withings SA
o Michael Kors
o Casio Electronics Co. Ltd.
o TAG Heuer
o Tom Tom
o ASUSTeK Computer Inc.
o Xiaomi Inc.
o Moov Inc.
o Whoop

Valuates Reports
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Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains detail research methodology employed to generate the report, Please also reach to our sales team to get the complete list of our data sources

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