Wearable Technology Market Still Has Room to Grow | Sony, Fitbit, Samsung Electronics, Apple

HTF MI offers comprehensive outlook on Wearable Technology Market forecasted till 2026. The Wearable Technology market has observed substantial growth over the years owing to noteworthy innovations that created awareness among end users and ultimately pushing the demand. Researchers have precisely examined the key impacting factors like drivers, restraints, challenges, and opportunities to help the buyers in planning and deliver actionable insights to gain prominent position in the competition. The standard version of study profiles a mix of players that includes market leaders as well as emerging players such as Sony Corporation, Fitbit, Samsung Electronics, Apple Inc., and more.

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Summary
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.

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.

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

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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 Page Number
1 Chapter 1: Introduction 30
1.1 Executive Summary 30
1.2 Topics Covered 32
1.3 Forecast Segmentation 33

2 Chapter 2: An Overview of Wearable Technology 43
2.1 What is Wearable Technology? 43
2.2 Device Classification 43
2.3 Enabling Technologies 46
2.4 Market Growth Drivers 50
2.5 Market Barriers 52

3 Chapter 3: Vertical Opportunities & Use Cases 55
3.1 Consumer Markets 55
3.2 Healthcare 61
3.3 Professional Sports 63
3.4 Retail & Hospitality 64
3.5 Military 66
3.6 Public Safety 69
3.7 Other Verticals 72

4 Chapter 4: Industry Roadmap & Value Chain 97
5 Chapter 5: Market Sizing & Forecasts 103

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Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
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