Global Smart Wearable Market to Surpass USD37 Billion by 2020: TechSci Research
by Anamika Singhal SEO - Executive (Automotive)Increasing
number of smartphone users, introduction of novel products and growing demand
from consumer electronics and healthcare sectors to drive global smart wearable
market
According to
TechSci Research report “Global Smart Wearables Market Forecast and Opportunities, 2020”, the global
market for smart wearables is projected to reach USD37 billion by 2020. Though
the global smart wearables market is currently in its nascent stage, growing IT
spending, rising health concerns and increasing number of smartphone users is
projected to fuel demand for smart wearables over the next five years. Among
different types of smart wearables, demand for smartwatches and smart
wristbands was the highest in 2014. With growing adoption and rising disposable
income levels, niche smart wearable categories such as smart glasses and smart
garments are also expected to gain significant pace through 2020. Smart
wearables are increasingly finding applications across various segments
including consumer electronics, healthcare, defense and apparels. Consumer
electronics and healthcare sectors dominated the smart wearables market in
2014, and the trend is forecast to continue over the next five years.
Browse market data Tables and Figures spread
through 110 Pages and an in-depth TOC on "Global
Smart Wearables Market"
Presently,
Americas and Europe including countries such as the United States, Canada, the
United Kingdom, Germany, etc., are the leading markets for smart wearables. An
expanding smartphone user base, globally, coupled with continuously declining
prices of smart wearables are anticipated to surge demand for different types
of smart wearables during the forecast period, even among price sensitive
consumers in emerging economies. Rising demand for smart garments especially
among athletes, diabetic patients, etc. is anticipated to positively impact the
global smart wearables market through 2020. Few of the other emerging
technologies in the smart wearables market includes smart innerwear, smart
tattoos and hologram projector based smart wearables, among others. Various
companies are increasingly focusing on the launch of advanced technology based,
easily compatible and light weight smart wearables.
“Though
smart wristbands dominated the global smart wearables market in 2014, growing
popularity of smartwatches due to continuously expanding smartphone user base
is forecast to reduce the dominance of smart wristbands over the next five
years. Traditional and luxury watch manufacturers are foraying into the smart
watch segment to capitalize on lucrative market opportunities emerging in this
segments.” said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Global Smart
Wearables Market Forecast and Opportunities, 2020” has evaluated
the future growth potential of smart wearable market across the globe and
provides statistics and information on market structure, industry behavior and
trends. The report includes market projections and demand forecasting. The
report is intended to provide cutting-edge market intelligence and help
decision makers to take sound investment evaluation. Besides, the report also
identifies and analyzes emerging trends along with essential drivers,
challenges and opportunities available in the global smart wearable market.
About TechSci Research
TechSci Research is a leading global market
research firm publishing premium market research reports. Serving 700 global
clients with more than 600 premium market research studies, TechSci Research is
serving clients across 11 different industrial verticals. TechSci Research
specializes in research-based consulting assignments in high growth and
emerging markets, leading technologies and niche applications. Our workforce of
more than 100 fulltime Analysts and Consultants employing innovative research
solutions and tracking global and country specific high growth markets helps
TechSci clients to lead rather than follow market trends.
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Created on Jul 18th 2019 03:55. Viewed 344 times.