North America wearable devices market is expected to dominate global demand over the forecast period owing to technological developments. Asia Pacific is anticipated to exhibit substantial growth due to low production costs in India and China. UK and Germany is estimated to lead the European industry owing to flourishing innovations in the region.
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The wearable devices market can be segmented in terms of product as well as application. In terms of product, the industry can be segregated as eye wear, wrist & finger wear, body wear, foot wear, neck wear and others. Based on application, the industry can be segmented into military, consumer, enterprise & industrial and healthcare & medical. Consumer application is further segregated into infotainment & media as well as fitness & sports. It include device such as heart rate monitors, activity monitors, smart textiles, smart watches, smart clothing and smart glasses.
In spite of being one of the most lucrative industries, it is likely to face certain challenges. Limited battery life paired with high power consumption of devices is estimated to hamper the global wearable devices market. Huge capital investment along with lack of sound technical experts might pose a challenge to wearable devices market. In addition, need for protection for these devices as well as temperature considerations are anticipated to hider the industry demand. Ascending application of these smart devices is expected to facilitate colossal growth opportunities to the wearable technology market participants.
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The global wearable devices market share is somewhat fragmented on a broad level with participants focusing on application specific solutions. Potential market participants in fitness & wellness sector include Jawbone, Adidas AG, Fitbit, Nike Inc., Timex Group USA Inc., Beurer and Oregon Scientific and BodyMedia among others. Key industry players in the infotainment segment include Sony Corp., Samsung, LG Corp., Motorola, Google Inc., Qualcomm, Martian, Pebble as well as GoPro among others.
Methodology used in Wearable Devices Market Report –
Our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
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