Market Scenario:
Wearable computing is a shared relationship between man and machine. This creates a unique differentiation between wearable computers and portable machines such as hand held devices and laptop computers which intensify the bond between human and computer to evolve the wearable computing as a concept of human intelligence. The human intelligence is a framework which is an outcome of a communication bond between human and computational process. For instance, a wearable device can be transformed into electric eyeglass where the user can interact and analyze the device without any interruption.
The wearable computing technique are extensively used in different technologies such as augmented reality, diminished reality and mediated reality. With the constant evolving technologies, the computing techniques can be implemented into smart watches and wristbands.
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The rising need and increase in adoption of techniques in wearable health and medical devices are expected to drive the Global Wearable Computing Market over the forecast period. Additionally, diffusion of smart clothing in the European region in large investment is presumed to be gaining prospect over the next few years.
On the other hand, high initial price range of wearable devices and lack of technical know-how are presumed to hinder the growth of wearable computing market over the review period.
Key Players
Some of the key players of wearable computing market include Nike Inc. (U.S.), Pebble Technology Corporation (U.S.), Valve Corporation (U.S.), Zephyr Technology Corporation (U.S.), Samsung Electronics Co., Ltd (Republic of Korea), Smartlife Technology Ltd (Manchester), Fitbit Inc. (U.S.), Apple Inc. (U.S.), Adidas AG (Germany), LG Electronics, Inc. (Republic of Korea), Motorola Mobility Holdings, Inc. (U.S.), Sony Corporation (Japan), Philips Healthcare (Amsterdam), Microsoft Corporation (U.S.), and Boston Scientific Corporation (U.S.)
Segmentation:
The wearable computing has been categorized into technology, product, and end user.
Based on the technology, the wearable computing is sub divided into display technologies, networking technologies, and other technologies. The display technologies sub segment comprises of augmented reality and virtual reality. Additionally, the networking technologies is classified into Wi-Fi and Bluetooth. Product segment is subcategorized into smart clothing & textiles, activity monitoring device, wearable camera and virtual reality eyewear. Furthermore, wearable computing is further divided on the basis of end user that includes defense & security, home automation, medical & healthcare, enterprise & industrial, fitness & wellness, infotainment, gaming, and other applications.
According to Market Research Future analysis, Wearable Computing Market has been valued at approximately USD 35 billion growing with a 15% CAGR during forecast period 2017-2023.
Regional Analysis:
Geographically, the wearable computing is segmented into four different regions namely North America, Asia Pacific, Europe, and the Rest of the World.
North America is presumed to be the dominating region in wearable computing market. The U.S. and Canada are the leading countries in this region. This is due to increasing popularity of smart gadgets and increasing investment in developing wearable products. Furthermore, Europe is anticipated to have a substantial growth over the forecast period. The countries such as Germany, France and the U.K are the leading countries in the region. This is attributed to a huge investment in research and development for smart wearable devices. Asia Pacific is also anticipated to be the fastest growing region in the wearable computing market over the forecast period. India, Japan, and China are the leading countries to be a better prospect region owing to rising awareness among the young generation.
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Target Audience:
- Research Firms.
- Government Agencies
- Wearable smart device and accessories manufacturers.
- Military and security systems and equipment manufacturers.
- Multimedia marketing and gaming industries.
- Cloud services providers
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