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Wearable Technology Market Report Suggests High-level Growth up to USD 71.23 Billion by 2021

05-09-2017 10:03 AM CET | IT, New Media & Software

Press release from: Scalar Market Research

Wearable Technology Market Report Suggests High-level Growth

According to the 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”, the global market for wearable technology is anticipated to be worth USD 71.23 billion by the year 2021.

The global wearable technology market report analyzes all the key driving and restraining factors for the industry and forecasts the revenue trends within different high-impact geographic regions.

Download Free Sample: https://www.scalarmarketresearch.com/request-sample.php?id=116

Driven by proliferation of Internet of Things (IoT) and rising demand

According to the wearable technology market report, strong rise in the penetration of smartphone devices is the key drivers for this market. Growing use of smartphones along with the explosion of Internet of Things (IoT) is expected to drive the industry further. The report also suggests that growing venture capital funding for numerous emerging players is also a contributing factor for the augmentation of the market. It also suggests that constant advancements in wearable technology will boost the business opportunities in this market during the forecast period. However, the report highlights several restraining factors for the market, which include security concerns related to data confidentiality and insufficient battery life of the wearable devices.

Innovative products are expected to attract more consumers

The research report suggests high acceptance level of consumers, which is creating a rise in demand. Innovative range of devices such as eyewear, wristbands, smartwatches, health monitoring devices and such other devices have augmented the consumer interest in this market. Geographic regions like Europe and North America are expected to remain the industry leaders. Owing to the strong demand and significant adoption of advanced gadgets, the aforementioned regions are expected to acquire largest wearable technology market share. However, the report suggests that Asia-Pacific is expected to become the fastest-growing geographic segment of this market. The rise in disposable income is expected to play a significant role in this growth rate of the Asia-Pacific region.

Leaf through our data-driven infographic report on Wearable Technology Market:

http://scalarmarketresearch.com/market-reports/wearable-technology-market
Buyers can avail 10% customization on this report, per our feasibility.

Key players highlighted in the wearable technology market report include

1.Adidas Group
2.Apple Inc.
3.Fitbit Inc.
5.G4armin International Inc.
6.Google Inc.
7.Microsoft Corporation
8.Nike Ltd.
9.Sony Corporation
10.Suunto Oy
11.Xiaomi Inc.

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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