Apart from the novel concept of smart and e-textiles, the field of wearable electronics also includes several other products such as smart glasses/goggles, ring/finger worn scanners, footwear such as athletic, fitness and sports shoes, wrist wear such as advanced electronic watches and wristbands, and others (such as headbands and neckwear). Typically, any wearable electronic device may include few or all of the following – sensors and actuators, image and speech recognition technologies, positioning and networking chips, displays and optoelectronics, and specialty monitoring devices. The emphasis on using wearable devices for fitness, health monitoring, entertainment, enterprise, and industrial applications has been increasing with advancements such as stretchable electronics, flexible circuits, conducting fabrics, long lasting batteries, and smaller specialty wearable sensors.
\This reportprovides a complete quantitative and qualitative information of the global wearable electronics marketand all its segments (both - shipments and market revenue wise), and also forecasts the same till 2020. The report analyzes the global market and presents detailed insights on the market when segmented by technology, product,component, application, form factor, and geography. Besides this, detailed analysis on the drivers, restraints, and opportunities of the market are also presented along with an insightful quantitative analysis of Porter’s five forces and their impact on the market.
The global wearable electronics products market revenue is expected to grow roughly at a CAGR of 24.56% and cross $11.61 billion by the end of 2020, with steady sales of wristwear and footwear category, along with the emergence of the small market size for eyewear and bodywear category.
Among application sectors, consumer applications accounted for the largest market share with market size crossing $790.2 Million as of 2012. However, that of enterprise and industrial application is expected to grow at the highest CAGR (more than 26%) during the forecast period of 2014 to 2020. The Americas, with the U.S. accounting for more than 72% of the market, is the single largest revenue base for the global wearable electronics market and is expected to maintain its dominance during the forecast period as well. However, the wearable technology market in Asia–Pacific, with China leading the way, is likely to grow at the highest CAGR during the next six years.
The amount of focus and efforts all across the value chain of the ecosystem suggests that players are going full throttle to cash in the big opportunities that the wearable electronics market currently offers and is yet to offer in the coming years. The wearable technology market already has several successful wearable electronic products, some of the popular ones being Nike’s Fuel+ wrist-band, Jawbone UP, and so on. The market is likely to witness loads of changes with some much awaited products such as Google’s smart glass, Sony’s wrist watch, and others slated to launch soon. It is most likely that the market would see some big mergers and acquisitions along with many new playersand start-ups, making it big in the industry.
The report presents a detailed insight on the current wearable electronics industry and identifies key trends of various segments of the wearable technology market with in-depth quantitative and qualitative information. The report segments the global wearable electronics market on the basis of types of components and products, technologies, formfactor, application, and geography. Furthermore, it contains revenue forecasts and trend analysiswith respect to the market’s timeline.
The overall wearable electronics and technology market is estimated to grow $11.61 Billion by the end of 2020 at a compound annual growth rate (CAGR) of 24.56% from 2014 to 2020.
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