Wearable Computing Market – Overview
The availability of specific tech in wearable computing is motivating the expansion of the market. Market reports associated with the semiconductors and electronics industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is projected to attain revenues amounting to USD 35 Billion while expanding at a 15% CAGR in the duration of the forecast period.
The embodiment of humanistic intelligence in wearable computing is one of the main USPs powering the expansion of the market. The usage of wearable computing in clothing is expected to be the fastest growing application. Moreover, Healthcare and wellness applications are expected to steadily diversify the development of the market in the upcoming period.
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Oct 2018 Colgate-Palmolive Company has designated RealWear as its strategic provider of hands-free wearable computers for its industrial workforce. RealWear’s smart, voice-operated HMT-1 will be worn by hundreds of its mechanics and engineers across 20 of Colgate-Palmolive’s principal manufacturing facilities in 11 countries. With the innovative technology, Colgate-Palmolive employees will be able to troubleshoot machinery while keeping their hands free to work.
Oct 2018 Kopin Corporation, a foremost developer of innovative wearable computing technologies and solutions, announced recently that it has agreed to back the growth and commercialization of its next generation of head-mounted displays (HMD) designed for progressive medical and surgical applications. Kopin, and its partner Endopodium Inc., count on marketing the product under a new company, HMD/MD, which will make this next generation of wearable display systems.
Some of the key players of wearable computing devices market include Nike Inc. (U.S.), Pebble Technology Corporation (U.S.), Valve Corporation (U.S.), Zephyr Technology Corporation (U.S.), Samsung Electronics Co., Ltd (Republic of Korea), Smartlife Technology Ltd (Manchester), Fitbit Inc. (U.S.), Apple Inc. (U.S.), Adidas AG (Germany), LG Electronics, Inc. (Republic of Korea), Motorola Mobility Holdings, Inc. (U.S.), Sony Corporation (Japan), Philips Healthcare (Amsterdam), Microsoft Corporation (U.S.), and Boston Scientific Corporation (U.S.)
The wearable computing market is segmented on the basis of product, technology and end user. On the basis of technology, the market is segmented into networking technologies, display technologies, and other technologies. The display technologies segment comprises of virtual reality and augmented reality. Also, the networking technologies segment is segmented into Wi-Fi and Bluetooth. On the basis of product, the market is segmented into activity monitoring device, smart clothing and textiles, wearable camera and virtual reality eyewear. The end user segment of the wearable computing market is segmented into home automation, defense security, medical healthcare, fitness wellness, infotainment, enterprise industrial, gaming, and other applications.
Detailed Regional Analysis
The regional analysis of the wearable computing market covers regions such as Asia Pacific, North America, Europe, and the Rest of the World. The North American region is expected to be leading the wearable computing market. The U.S. and Canada are the foremost countries in this region. This is owing to the growing acceptance of smart gadgets and growing investment in developing wearable products.
Additionally, the European region is expected to have considerable growth over the forecast period. The nations such as France, Germany, and the U.K are the foremost countries contributing in the region’s development. This is credited to the enormous investment in research and development for smart wearable devices. The Asia Pacific region is also expected to be the most rapidly growing region in the wearable computing market over the forecast period. India, Japan, and China are the leading nations in the region due to increasing awareness among the younger generation.
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- Research Firms.
- Government Agencies
- Wearable smart device and accessories manufacturers.
- Military and security systems and equipment manufacturers.
- Multimedia marketing and gaming industries.
- Cloud services providers
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