London, UK (PRWEB) August 19, 2014
Driven by the ability to interconnect with key modern trends of fitness, healthcare, messaging and socialisation, the wearable technology ecosystem is sparking a very high level of interest. Companies as diverse as mobile carriers, smartphone OEMs, health insurers and retailers are circling the ecosystem along with tiny start-ups, all competing for a stake. By 2015, wearable devices are forecast to generate close to USD 20 billion in global revenue on unit shipments totaling 90 million. Over the next 6 years, the sector is projected to grow at a CAGR of around 40%.
The rise of smartphones is widely deemed to be a major driving factor lying behind wearable technology. As of 2014, the total installed base for smartphones stands at over 2.4 billion, demonstrating global penetration of close to 35%, with the latter expected to increase to over 60% by 2020-end. Having hit the mass market, smartphones often serve as the wireless connectivity hub for the majority of wearable devices. Diverse wearable form factors like smart glasses or smart watches are thus widely known as companion devices for smartphones. By offloading processing and connectivity onto a smartphone, the price of a wearable device is significantly cheaper, even more so taking into consideration the cost of sensors continues to decline.
New research study “The Wearable Technology Ecosystem: 2014 – 2020 - Opportunities, Challenges, Strategies, Industry Verticals and Forecasts” worked out by Signals and Systems Telecom is now available at MarketPublishers.com.
Title: The Wearable Technology Ecosystem: 2014 – 2020 - Opportunities, Challenges, Strategies, Industry Verticals and Forecasts
Published: August, 2014
Price: US$ 2,500.00
The study presents an in-depth analysis of the world wearable technology market landscape, covering key market challenges, drivers, investment opportunities, vertical and consumer market prospects, different use cases, value chain, future roadmap, best case studies, vendors’ market shares and major strategies. Additionally, the research report contains forecasts for wearable device shipments and revenues during 2014-2020, which are segmented further for 7 device form factors sub-markets, 6 vertical markets, 6 regions and 73 countries.
More new market research reports by the publisher can be found at Signals and Systems Telecom page.