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Wearable technology market expected to reach USD 71.23 billion by 2021 at a CAGR of 18.9% - Scalar Market Research

04-19-2017 10:22 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Scalar Market Research

Wearable technology market expected to reach USD 71.23 billion

According to the new market research report Wearable Technology Market, by Products (Smart Clothing & Smart Glasses, Sleep Sensors, Smart Watches, Activity Monitors, Augmented Reality Headsets, Continuous Glucose Monitor, Heart Rate Monitors, Drug Delivery Devices, Hand Worn Terminals, Wearable Patches, Jewelries), Application (Infotainment, Fitness & Wellness, Healthcare & Medical, Industrial & Military, Safety & Security, Fashion & Lifestyle) - Global Revenue, Trends, Growth, Share, Size and Forecast to 2021. Wearable technology market worth USD 29.92 billion in 2016 and expected to reach USD 71.23 billion by 2021, growing at a CAGR of 18.9% from 2016 to 2021 published by Scalar Market Research, the market is expected to grow at a healthy rate during the forecast period.

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Our industry experts anticipate that within the wearable technology market, the smart watches will dominate the product segment, and will grow at a CAGR of more than 15%. In addition, the fashion and lifestyle will be the fastest-growing application segment of the market, witnessing growth at a CAGR of more than 25% during the forecast period. While North America is poised to dominate the global market based on revenue, the Asia-Pacific region is set to emerge as the fastest-growing geographic region of the wearable technology market.

KEY PREMIUM INDUSTRY INSIGHTS

Rising penetration and adoption of the smart mobile devices coupled with the proliferation of Internet of Things (IoT) is boosting the global wearable technology market.

Some key players actively operating in the market are profiting from substantial venture capital funding, thereby bolstering the global market.

Significant adoption of the wearable technology enabled products across the enterprises proves to be a huge opportunity for the players in this industry.

The inadequate battery life of the wearable products along with the rising data confidentiality and security concerns are hindering the growth of the global wearable technology market.

Browse Report: https://www.scalarmarketresearch.com/market-reports/wearable-technology-market

About Scalar Market Research

Scalar Market Research Inc. aspires to assist organizations from around the world to achieve their business goal with premium market research reports and consulting services. Our real-time industry tracking with the help of advanced analytics offers a crystal clear view of all the activities in niche markets. Our team, with thorough global understanding, works relentlessly to gather the necessary market insights, including customer analysis, competitions and global forecast.
Find out more about our services at: www.scalarmarketresearch.com

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