Global Wearable Device Market Projected to Reach USD 19.28 Billion by 2024.The increasing adoption of smart wearable is witnessed which are compatible with smartphone apps for the purpose of health awareness, connected with the neighboring devices. Wearable device market is driven by fast-changing technology trends of the connected devices. According to Goldstein Research, global wearable device market size is expected to reach USD 19.28 billion by 2024, growing at a compounded annual growth rate of 17.0% during the forecast period 2016-2024. Global wearable device market segmentation has been carried out on the basis of product type, end users, and geography.
Health & fitness wearable device account for the largest wearable device market share in 2016. Moreover, based on product type, smart bracelet market accounted for a considerable market share in terms of growing sales & revenue of wristwear. Global wearable device industry is estimated to be dominated by North America with a market share of 36.0% in 2016. Further, global wearable biosensors market, which is growing at a CAGR of 8.12% over the forecast period, has a huge impact on the growth of the wearable device industry. According to wearable technology market analysis, biosensors are known to be one of the most focused areas by the market players in terms of R&D and innovation.
Market Segmentation
On the basis of our in-depth analysis, Global Wearable Device Market can be segmented as follows:
- By Product Type
- Neckwear
- Footwear
- Headwear/Eye Wear
- Wristwear
- Bodywear
- By End User
- Consumer Electronics
- Healthcare
- Industrial & Enterprise
- By Region
- North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
- Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
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“Global Wearable Device Market Analysis” contains a detailed overview of the global wearable technology market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by product type and end users.
Further, for the in-depth analysis, Global wearable device market report encompasses the market growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
This market report also includes competitive outlook of some of the major players profiling of companies such as Google Inc., Apple Inc., Garmin Ltd., Samsung, Pebble Technology Corporation, Fitbit Inc., Xiaomi, Omron Corporation, Adidas, Jawbone, Sony Corporation, Philips Healthcare, Vital Connect, Sotera Wireless, Intelesens Ltd., Basis Science, Inc., Covidien Plc, Gentag Inc., Intel Corporation, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments.
Overall, the report represents the global wearable device market share along with a market forecast that will help market consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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