Global Wearable Technology Market Characterized by Stiff Competition 2014-2024

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The report states that the global wearable technology market was estimated to be worth US$14 billion in 2014, and will be worth more than US$70 billion in 2024. With the help of past, current, and projected market figures, the report on the wearable technology market not only assesses past performance but also provides forecast statistics that can help mold crucial business strategies.

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Segmenting the overall wearable technology market on the basis of application, technology, product type, and geography, the 237-pages report studies the global wearable technology market with absolute depth and precision, offering razor-sharp insights into key profitable segments. Wearable technology has a wide range of applications such as healthcare, safety, sports, military, and fashion. Among its major applications, the use of wearable technology in the healthcare sector – inclusive of wellness, fitness, and medical has been and will continue to be the dominant segment during the forecast period of 2014-2024.

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The study lists out some of the major products in the wearable technology market and evaluates individual commodities, examining its viability and performance in the market. Some of the key innovations in the wearable technology market today include HID laundry buttons, e-wristbands, Neurowear Necomimi, smart shoes, 4D Force, internet-enabled smart watches, military exoskeletons, T-Ink heated and smart apparel, wristwear, and Google Glass. Based on the data collected on the performance of these wearable technology devices, textiles, and apparel, the study identifies high-growth and high-yielding product segments that will drive the wearable technology market and those that will stall its growth.

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In addition to this, the report on the wearable technology market also highlights significant landmarks in the industry such as expansion of the mobile phone business into wearable technology, wearable electronics as part of the sensor business, wearable electronics as a part of the wristwatch business, wearable technology and printed electronics, and the usage of Radio Frequency Identification (RFID) in wearable technology. The report studies and discusses each segment’s market potential and profitability, together with territorial analysis, long-term view, market size, and applications.

The wearable technology market is extremely competitive and is characterized by numerous leading market players. Some of the major wearable technology companies interviewed and profiled in the research report include ULOCS (Sweden), Sunfriend Corp, NanJing KeLiWei Electronic Equipment (China), MC10, Sony (Japan), SwiftAlarm (Germany), Adidas, Conductr (Canada), Eyeqido (Germany), Reebok International, ICE (Germany), Antje Paul Knessel (Netherlands and Germany), Intel (USA), Accenture (USA), and Anitra Technologies UG (Germany). The report analyzes each market player in detail, providing comprehensive and, at the same time all-inclusive, information on aspects such as market size, demographics, contribution towards the wearable technology market, product portfolio, geographical coverage, drivers and restraints, and recent developments and innovations.

Apart from this, the report also examines the benefits of wearable technology, global and regional challenges, technology and competitor integrations, solutions and recommendations.

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Wearable Technology In Industry Verticals 2014 - 2019

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Wearable technology presents the potential for massive transformation in many industries. The more obvious ones include consumer electronics and communications. Early adopter industries include clothing, healthcare, sports and fitness. However, we see many industries adopting wearable technologies as computing and wireless communications integrate wearable into virtually every aspect of products and services. This marketplace will initially be driven by practical solutions for healthcare, consumer wearables, and military applications. Despite the uncertainty of consumer receptivity, Mind Commerce estimates that global spending on wearable devices will grow from $9 billion in 2014 to reach $218 billion in 2019.

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We see several factors converging to facilitate wearable technology integration including expanded wireless capacity due to pervasive wireless (WiFi, WiMAX, and LTE), cellular market saturation and the need for wireless companies to establish new revenue streams, continuously decreasing cost of data, and the significant backing from huge companies including Google, Apple, and others. We also see developments in key technologies such as Augmented Reality, Body Area Networks, Ambient Awareness, and Peer-to-Peer Communications as drivers for evolution in consumer perception of value and willingness to engage in new forms of communications, content, applications, and commerce.

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