The Global ‘Wearable Medical Devices Market’ report provides concise details on the market regional spectrum, industry size, and profit forecast. Besides that,The report highlights the growth rates and market sizes of various segment and highlights the sections expected to experience high growth rate in various geographic segments.
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The key drivers for Wearable Technology market market are increasing adoption of mobile devices, increasing acceptance across various application areas and increasing spur in venture capital funding for various wearable ecosystems players.According to a new market research study titled 'Wearable Technology Market to 2025 - Global Analysis and Forecast by Product and Application', the global wearable technology market was valued at US$ 26.19 Bn in 2015 and is estimated to reach US$ 170.91 Bn by 2025. The report highlights the trends that are prevalent in the global market and the factors that act as barrier to the growth of wearable technology market.
The Wearable Technology market report provides qualitative and qualitative insights about growth rates, key market shares and factors driving the market drivers for all segments. The report highlights the growth rates and market sizes of various segment and highlights the sections expected to experience high growth rate in various geographic segments.
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The report also consist of company profiles of the market leaders and various players in the wearable technology ecosystems.
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The wearable technology market is divided on the basis of products and application, the products segment is further categorized on the basis of smart clothing & smart glasses, sleep sensors, smart watches, activity monitors, augmented reality headsets, continuous glucose monitor, heart rate monitors (HRMS), drug delivery devices, hand worn terminals, wearable patches, jewelries. The application segment is further classified on the basis of infotainment, fitness & wellness, healthcare & medical, industrial & military, safety & security, and fashion & lifestyle
The report profiles major players such as. adidas Group, Apple, Inc., Fitbit Inc., Garmin International Inc., Google, Inc., Intel Corporation, Jawbone, Koninklijke Philips N.V, LG Electronics Inc., Medtronic, Inc., Microsoft Corporation, Nike, Inc., Pebble Technology Corporation, Qualcomm, Inc., Samsung Electronics Co., Ltd, Sony Corporation, Suunto Oy and Xiaomi Inc.
The geographic segments considered in Wearable Technology market report are North America (NA), Europe (EU), Asia-Pacific (APAC), Middle East & Africa (MEA) and South America (SAM). The geographic analysis highlights that North America accounted for the largest share in the global wearable technology market in 2015.
The Asia-pacific region is expected to register a faster growth from 2016 to 2025 at a CAGR of 22.6%, due to the increasing technological adoption trends in this region.
In the last few years' global wearable technology market have experienced a significant growth in its acceptance across different verticals like health and fitness, medical, media and entertainment, fashion and lifestyle and others to name a few. Wearable technology has also evolved tremendously in the last few years and companies are aggressively launching innovative products and solutions like smart clothing, smart glasses, attracting mass adoption among individuals and enterprises.
Various secondary information sources were used to find the overall revenues, product portfolios and geographic reach of the companies operating in the wearable technology market. Estimates of the products and application classification revenues were confirmed and validated through primary interviews.
Primary interviews are conducted with various players in wearable ecosystem and key opinion leaders to confirm the provided percentage split and market share. Considering the current market scenario and various other factors into our analytical approaches.
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High growth of Internet of Things (IoT), increasing end user's preference towards handy gadgets and growing acceptance across various application areas due to high potential advantages are some of the factors expected to boost the wearable technology market during the forecast period. However, rising data privacy concerns, high prices and limited battery life of devices is expected to hamper the global market growth.
The smart watches segment leads the wearable technology market currently and is expected to hold the significant market share during the forecasted period by accounting for 19.96% of the total market revenue share in the year 2025