HOME Top Market Reports Wearable Technology Market by Product (Wristwear, Eyewear, Footwear, Neckwear, Bodywear, and Others), Application (Consumer Electronics, Healthcare, Enterprise & Industrial, and Others), Type (Smart Textile, Non-Textile), & Geography - Global Forecast to 2020

Wearable Technology Market by Product (Wristwear, Eyewear, Footwear, Neckwear, Bodywear, and Others), Application (Consumer Electronics, Healthcare, Enterprise & Industrial, and Others), Type (Smart Textile, Non-Textile), & Geography - Global Forecast to 2020

By: marketsandmarkets.com
Publishing Date: December 2015
Report Code: SE 2763

 

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Wearable technology is gaining popularity at a rapid pace, and it has gone beyond just connected eyewear and smartwatches with new products such as wrist bands, smart shoes, smart apparels, and more. Companies are creating apparel, accessories, and fitness wear that can do everything from monitoring heart rate to charging a smartphone. The overall wearable technology market for wearable technology is expected to reach USD 31.27 Billion by 2020, at a CAGR of 17.8% between 2015 and 2020.

Major players of wearable technology ecosystem were identified across the regions and their offerings, distribution channel, and regional presence is understood through in-depth discussions. To find out the overall wearable technology market size, number of shipments and average selling price were used. Also, top-down and bottom-up approaches were used to estimate the sizes of other individual markets by using percentage splits from secondary and primary research. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interview of key insights from industry leaders, such as CEOs, VPs, directors, and marketing executives. The figure below shows the breakdown of the primaries on the basis of company type, designation, and region conducted during the research study.

Wearable Technology Market

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This report takes a close look at the wearable technology market, providing a holistic outlook on market dynamics, industry trends, and supply & demand. The study aims at providing granular information regarding estimates and forecasts for the market segments. This report is based on an extensive research study of the wearable technology market and aims at identifying the entire market and all its subsegments through extensively detailed classifications. The demand for wearable technology is expected to grow significantly and gain importance across various domains. The Americas is expected to be the fastest-growing market during the forecast period.

The report also discusses the future of the global market with roadmaps, upcoming technologies, and applications with respect to the wearable technology market. Some of the key players in this industry include Adidas AG (Germany), Apple, Inc. (U.S.), Fitbit, Inc. (U.S.), Garmin, Ltd. (Switzerland), Google, Inc. (U.S.), Jawbone, Inc. (U.S.), LG Electronics Inc. (South Korea), Nike, Inc. (U.S.), Pebble Technology Corp. (U.S.), Qualcomm, Inc. (U.S.), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), and Xiaomi Technology Co., Ltd. (China).

Target audience for this report:

  • Companies in the wearable electronics and technology market
  • Government and financial institutions as well as investment community
  • Analysts and strategic business planners
  • End users who want to know more about the wearable technology and the latest technological developments in the wearable industry
  • Healthcare providers
  • Food and beverage companies
  • Research and consulting firms
  • Venture capitalists

Wearable technology market scope:

By Product:

  • Wristwear
  • Eyewear
  • Footwear
  • Neckwear
  • Bodywear
  • Others

By Application:

  • Consumer Electronics
  • Healthcare
  • Enterprise & Industrial
  • Others

By Type

  • Wearable Products (Non-Textiles) Volume
  • Wearable Smart Textiles Volume

By Region:

  • Americas
  • Europe
  • Asia-Pacific
  • RoW

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the client’s specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakdown of the Americas market into the North and South American wearable technology market

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitation
    1.6 Market Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Introduction
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Factor Analysis
           2.2.1 Introduction
           2.2.2 Demand-Side Analysis
                    2.2.2.1 Large Growth of the Smartphones Market
           2.2.3 Supply-Side Analysis
                    2.2.3.1 Innovation in Technology
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
           2.3.2 Top-Down Approach
    2.4 Data Triangulation
    2.5 Assumptions for the Study

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 34)
    4.1 Wearable Technology Market Opportunities
    4.2 Market, By Application
    4.3 Geographical Snapshot of the Wearable Technology Market
    4.4 Wearable Technology Market, By Consumer Electronics Application, 2013–2020 (USD Million)
    4.5 Wristwear Market Size, By Product, 2015 vs 2020 (USD Million)

5 Market Overview (Page No. - 39)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 Wearable Technology Market, By Product
           5.2.2 Market, By Type
           5.2.3 Wearable Technology Market, By Application
           5.2.4 Market, By Technology
           5.2.5 Wearable Technology Market, By Component
           5.2.6 Market, By Geography
    5.3 Market Evolution
           5.3.1 Events in the Wearable Technology Market Till 2000
           5.3.2 Wearable 2.0
           5.3.3 Next-Generation Wearable Devices
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Consumer Preference for Sophisticated Gadgets
                    5.4.1.2 Increasing Growth Prospects of Next Generation Displays Integrated in Wearable Devices
                    5.4.1.3 Increasing Popularity of Wearable Fitness and Medical Devices
                    5.4.1.4 Growing Popularity of the Internet of Things
           5.4.2 Restraints
                    5.4.2.1 Power Consumption and Limited Battery Life
                    5.4.2.2 High Initial Costs
                    5.4.2.3 Fast Pace of the Electronics Market
           5.4.3 Opportunities
                    5.4.3.1 Growing Applications of Smart Textiles and E-Textiles in Wearables
                    5.4.3.2 Multi-Featured and Hybrid Application Mobile Devices
                    5.4.3.3 Development of Key Enabling Technologies
                    5.4.3.4 Increasing Adoption of Wearables in Multiple Application Areas
           5.4.4 Challenges
                    5.4.4.1 Size Constraints
                    5.4.4.2 Device Protection and Thermal Consideration
                    5.4.4.3 Unaddressed Regulatory Issues
                    5.4.4.4 Failure to Achieve Long-Term Engagement

6 Industry Analysis (Page No. - 55)
    6.1 Introduction
    6.2 Market Investment Analysis
    6.3 Supply- & Demand-Side Factor Analysis
    6.4 Market Life Cycle Analysis
    6.5 Push & Pull Force Analysis
    6.6 Supply Chain Analysis
           6.6.1 Core Industry Segments
           6.6.2 Supporting Industry Segments
    6.7 Value Chain Analysis
    6.8 Porter’s Five Forces Analysis
           6.8.1 Intensity of Competitive Rivalry
           6.8.2 Threat of Substitutes
           6.8.3 Bargaining Power of Buyers
           6.8.4 Bargaining Power of Suppliers
           6.8.5 Threat of New Entrants

7 Wearable Technology Market, By Type (Page No. - 69)
    7.1 Introduction
    7.2 Wearable Smart Textiles
           7.2.1 Wearable Smart Textile Market, By Type
                    7.2.1.1 Passive Smart Textiles
                    7.2.1.2 Active Smart Textiles
                    7.2.1.3 Ultra-Smart Textiles
           7.2.2 Wearable Smart Textiles Market, By Function
                    7.2.2.1 Sensing
                    7.2.2.2 Energy Harvesting
                    7.2.2.3 Luminescence & Aesthetics
                    7.2.2.4 Thermo-Electricity
                    7.2.2.5 Others
    7.3 Wearable Products & Devices (Non-Textiles)

8 Wearable Technology Market, By Application (Page No. - 80)
    8.1 Introduction
           8.1.1 Consumer Electronics
                    8.1.1.1 Fitness & Sports Applications
                    8.1.1.2 Infotainment & Multimedia Applications
                    8.1.1.3 Garments & Fashion Applications
                    8.1.1.4 Multi-Function Applications
           8.1.2 Healthcare
                    8.1.2.1 Clinical Applications
                    8.1.2.2 Non-Clinical Applications
           8.1.3 Enterprise & Industrial Applications
                    8.1.3.1 Logistics, Packaging, & Warehouse Applications
                    8.1.3.2 Other Industrial Applications
           8.1.4 Other Applications

9 Market, By Product (Page No. - 92)
    9.1 Introduction
           9.1.1 Wristwear
                    9.1.1.1 Wrist Wear Computers and Watches
                    9.1.1.2 Wrist Bands
           9.1.2 Eyewear
                    9.1.2.1 Smart Glasses and Goggles
                    9.1.2.2 Contact Lenses and Other (HMD, HUD, Augmented) Displays
           9.1.3 Footwear
                    9.1.3.1 Casual Footwear
                    9.1.3.2 Special Purpose Footwear
           9.1.4 Neckwear
                    9.1.4.1 Fashion and Jewelry
                    9.1.4.2 Ties and Collars
           9.1.5 Bodywear
                    9.1.5.1 Clothing and Inner Wear
                    9.1.5.2 Fashion & Apparel
                    9.1.5.3 Arm & Legwear
           9.1.6 Other Wearable Technology
                    9.1.6.1 Ring Scanners
                    9.1.6.2 Smart Headsets
                    9.1.6.3 Head Bands
                    9.1.6.4 Others

10 Market, By Technology (Page No. - 103)
     10.1 Introduction
     10.2 Computing Technologies (Wearable Computers)
     10.3 Display Technlogies (HUD, HMD, and Augmented Reality)
     10.4 Networking Technologies (Bluetooth, NFC, ANT+, and Wi-Fi)
     10.5 Positioning Technologies (Gps and Digital Compass)
     10.6 Sensor Technologies (Accelerometers and Mems)
     10.7 Speech Recognition Technologies

11 Market, By Component (Page No. - 108)
     11.1 Introduction
             11.1.1 Power Supply Components
             11.1.2 Positioning and Networking Components
             11.1.3 Sensing Components
             11.1.4 Control Components
             11.1.5 Display & Optoelectronic Components
             11.1.6 Memory Components
             11.1.7 Interface Components
             11.1.8 Other Components

12 Regional Analysis (Page No. - 112)
     12.1 Introduction
     12.2 Americas
             12.2.1 U.S.
             12.2.2 Canada
             12.2.3 Mexico
             12.2.4 Others
     12.3 Europe
             12.3.1 U.K.
             12.3.2 Germany
             12.3.3 France
             12.3.4 Others
     12.4 Asia-Pacific
             12.4.1 China
             12.4.2 Japan
             12.4.3 South Korea
             12.4.4 India
             12.4.5 Others
     12.5 Rest of the World
             12.5.1 Middle East
             12.5.2 Africa
             12.5.3 Others

13 Competitive Landscape (Page No. - 131)
     13.1 Overview
     13.2 Market Share Analysis of the Wearable Technology Market 2015
     13.3 Competitive Situation and Trends
             13.3.1 New Product Launches
             13.3.2 Agreements, Collaborations, Contracts, & Partnerships
             13.3.3 Acquisitions
             13.3.4 Expansions and Investments

14 Company Profiles (Page No. - 139)
(Overview, Products and Services, Financials, Strategy & Development)*
     14.1 Introduction
     14.2 Fitbit Inc.
     14.3 Apple Inc.
     14.4 Xiaomi Technology Co. Ltd.
     14.5 Garmin Ltd.
     14.6 Samsung Electronics Co. Ltd.
     14.7 Google Inc.
     14.8 Adidas AG
     14.9 LG Electronics Inc.
     14.10 Nike Inc.
     14.11 Qualcomm Inc.
     14.12 Sony Corp.
     14.13 Jawbone Inc.
     14.14 Pebble Technology Corp.

*Details on Overview, Products and Services, Financials, Strategy & Development Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 175)
     15.1 Insights of Industry Experts
     15.2 Discussion Guide
     15.3 Introducing RT: Real-Time Market Intelligence
     15.4 Available Customizations
     15.5 Related Report


List of Tables (73 Tables)

Table 1 The Need for Sophisticated Devices Propels the Growth of the Wearable Technology Market
Table 2 Need of Self-Powering Devices Restrains the Growth of the Market
Table 3 Increasing Opportunities in Multiple Applications and Technological Growth Pave the Growth Avenue for Players in the Wearables Market
Table 4 Size Constraints of Wearable Products Present A Major Challenge for Designers
Table 5 Barriers for Investments
Table 6 Pro-Factors for Investments
Table 7 Factors Distinguishing Supply- & Demand-Side Analysis and Percentage Contribution
Table 8 The Porter’s Five Forces Analysis: Bargaining Power of Suppliers Had the Lowest Impact on the Overall Market
Table 9 Wearable Technology Market, By Type, 2013–2020 (USD Million)
Table 10 Markets, By Type, 2013 (Thousand Units)
Table 11 Wearable Smart Textiles Market, By Type, 2013–2020 (USD Million)
Table 12 Passive Smart Textiles Market, By Function, 2013–2020 (USD Million)
Table 13 Active Smart Textiles Market, By Function, 2013–2020 (USD Million)
Table 14 Ultra-Smart Textiles Market, By Function, 2013–2020 (USD Million)
Table 15 Smart Textiles Market, By Function, 2013–2020 (USD Million)
Table 16 Smart Textiles Market for Sensing, By Type, 2013–2020 (USD Million)
Table 17 Smart Textiles Market for Energy Harvesting, By Type, 2013–2020 (USD Million)
Table 18 Smart Textiles Market for Luminescence & Aesthetics, By Type, 2013–2020 (USD Million)
Table 19 Smart Textiles Market for Thermo-Electricity, By Type, 2013–2020 (USD Million)
Table 20 Smart Textiles Market for Other Functions, By Type, 2013–2020 (USD Million)
Table 21 Wearable Technology Market, By Application, 2013–2020 (USD Million)
Table 22 Market, By Application, 2013–2020 (Thousand Units)
Table 23 Wearable Technology Market for Consumer Electronics, By Application, 2013–2020 (USD Million)
Table 24 Market Size for Consumer Electronics, By Application, 2013–2020 (Million Units)
Table 25 Market Size for Consumer Electronics, By Region, 2013–2020 (USD Million)
Table 26 Wearable Technology Market for Consumer Electronics, By Region, 2013–2020 (Thousand Units)
Table 27 Wearable Technology Market for Healthcare, By Application, 2013–2020 (USD Million)
Table 28 Market for Healthcare, By Application, 2013–2020 (Thousand Units)
Table 29 Wearable Technology Market for Enterprise & Industrial Sector, By Application, 2013–2020 (USD Million)
Table 30 Market for Enterprise & Industrial Sector, By Application, 2013–2020 (Thousand Units)
Table 31 Wearable Technology Market, By Other Applications, 2013–2020
Table 32 Wearable Technology Market for Healthcare, By Region, 2013–2020 (USD Million)
Table 33 Market for Healthcare, By Region, 2013–2020 (Thousand Units)
Table 34 Wearable Technology Market for Enterprise & Industrial Sector, By Region, 2013–2020 (USD Million)
Table 35 Market for Enterprise & Industrial Sector, By Region, 2013–2020 (Thousand Units)
Table 36 Wearable Technology Marketfor Other Applications, By Region, 2013–2020 (USD Million)
Table 37 Market for Other Applications, By Region, 2013–2020 (Thousand Units)
Table 38 Wearable Technology Market, By Product, 2013–2020 (USD Million)
Table 39 Market, By Product, 2013–2020 (Thousand Units)
Table 40 Wearable Technology Market for Wristwear, By Product, 2013–2020 (USD Million)
Table 41 Market for Wristwear, By Product, 2013–2020 (Thousand Units)
Table 42 Wearable Technology Marketfor Eyewear, By Product, 2013–2020 (USD Million)
Table 43 Marketfor Eyewear, By Product, 2013–2020 (Thousand Units)
Table 44 Wearable Technology Market for Footwear, By Product, 2013–2020 (USD Million)
Table 45 Market for Footwear, By Product, 2013–2020 (Thousand Units)
Table 46 Wearable Technology Market for Neckwear, By Product, 2013–2020 (USD Million)
Table 47 Market for Neckwear, By Product, 2013–2020 (Thousand Units)
Table 48 Wearable Technology Market Bodywear, By Product, 2013–2020 (USD Million)
Table 49 Market for Bodywear, By Product, 2013–2020 (Thousand Units)
Table 50 Wearable Technology Market for Others, By Product, 2013–2020 (USD Million)
Table 51 Market for Others, By Product, 2013–2020 (Thousand Units)
Table 52 Wearable Technology Market, By Region, 2013–2020 (USD Million)
Table 53 Market, By Region, 2013–2020 (Thousand Units)
Table 54 Americas: Wearable Technology Market Size, By Country, 2013–2020 (USD Million)
Table 55 Americas: Market, By Country, 2013–2020 (Thousand Units)
Table 56 Americas: Market Size, By Application, 2013–2020 (USD Million)
Table 57 Americas: Market, By Application, 2013–2020 (Thousand Units)
Table 58 Europe: Wearable Technology Market, By Country, 2013–2020 (USD Million)
Table 59 Europe: Market, By Country, 2013–2020 (Thousand Units)
Table 60 Europe: Market, By Application, 2013–2020 (USD Million)
Table 61 Europe: Market, By Application, 2013–2020 (Thousand Units)
Table 62 APAC: Wearable Technology Market, By Country, 2013–2020 (USD Million)
Table 63 APAC: Market, By Country, 2013–2020 (Thousand Units)
Table 64 APAC: Market, By Application, 2013–2020 (USD Million)
Table 65 APAC: Market, By Application, 2013–2020 (Thousand Units)
Table 66 RoW: Wearable Technology Market, By Geography, 2013–2020 (USD Million)
Table 67 RoW: Market, By Geography, 2013–2020 (Thousand Units)
Table 68 RoW: Market, By Application, 2013–2020 (USD Million)
Table 69 RoW: Market, By Application, 2013–2020 (Thousand Units)
Table 70 New Product Launches
Table 71 Agreements, Collaborations, Contracts, & Partnerships
Table 72 Acquisitions
Table 73 Expansions and Investments


List of Figures (62 Figures)

Figure 1 Wearable Technology Market: Research Design
Figure 2 Global Smartphone Shipments in Million Units, 2013–2018
Figure 3 Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Market for Bodywear Expected to Grow at the Highest CAGR (2014 vs 2020)
Figure 7 Consumer Electronics is Expected to Be the Largest Market for Wearable Technology During the Forecast Period
Figure 8 Wearable Smart Textiles Market, By Type: Ultra-Smart Textiles Expected to Witness Highest Growth Rate, 2014
Figure 9 Americas Accounted for the Largest Market Share, 2014
Figure 10 Wearable Technology Market to Showcase Lucrative Growth Opportunities During the Forecast Period
Figure 11 Consumer Electronics Accounted for the Largest Market Share in 2014
Figure 12 Market in the Americas to Grow at the Highest Rate During the Forecast Period
Figure 13 Multi-Function Segment to Witness Highest Growth During the Forecast Period
Figure 14 Market for Smart Watches Expected to Grow Rapidly During the Forecast Period
Figure 15 Market, By Product
Figure 16 Market, By Type
Figure 17 Market, By Application
Figure 18 Market, By Technology
Figure 19 Market, By Component
Figure 20 Market, By Geography
Figure 21 Major Developments in Wearable Technology Market
Figure 22 Market Dynamics: Overview
Figure 23 Smart Watch Shipments By Company, 2014
Figure 24 U.S.: Percentage of Wearable Device Users in Medical and Healthcare in 2014
Figure 25 Life Cycle of Wearable Products, 2014
Figure 26 Transition to Wearable Technology – Push & Pull Force Analysis
Figure 27 Wearable Technology Market: Supply Chain
Figure 28 Value Chain Analysis (2014): Major Value is Added During Assembly and Distribution Phases
Figure 29 The Porter’s Five Forces Analysis (2014):
Figure 30 Wearable Technology Market: Porter’s Five Forces Analysis, 2014
Figure 31 Intensity of Competitive Rivalry: High Competition in the Market Due to the New Product Launches and Innovations
Figure 32 Threat of Substitutes Will Be High Due to the Availability of Substitute Products
Figure 33 Bargaining Power of Buyers: as the Adoption Rate of Buyers is High, They Will Have A High Bargaining Power
Figure 34 Bargaining Power of Suppliers: Technological Advancements in Wearables Would Drive the Market for Suppliers During the Forecast Period
Figure 35 Threat of New Entrants: With Innovative Product Developments New Entrants are Likely to Enter This Market
Figure 36 Wearable Technology Market, By Type
Figure 37 Market, By Application
Figure 38 Wearable Technology – Product Segmentation
Figure 39 Wearable Technology Market, By Technology
Figure 40 Market, By Component
Figure 41 Geographic Snapshot: Wearable Technology Market
Figure 42 The Americas: Market Snapshot
Figure 43 European Market Snapshot
Figure 44 Asia-Pacific Market Snapshot
Figure 45 RoW Market Snapshot
Figure 46 Companies Adopted New Product Launches as the Key Growth Strategy Over the Last Four Years (2012–2015)
Figure 47 Battle for Market Share: New Product Launches Have Been the Key Strategy
Figure 48 Geographic Revenue Mix of Major Market Players
Figure 49 Fitbit Inc.: SWOT Analysis
Figure 50 Apple Inc.: Company Snapshot
Figure 51 Apple Inc.: SWOT Analysis
Figure 52 Xiaomi Technology Co. Ltd.: SWOT Analysis
Figure 53 Garmin Ltd.: Company Snapshot
Figure 54 Garmin Ltd.: SWOT Analysis
Figure 55 Samsung Electronics Co. Ltd.: Company Snapshot
Figure 56 Samsung Electronics Co. Ltd.: SWOT Analysis
Figure 57 Google, Inc.: Company Snapshot
Figure 58 Adidas AG: Company Snapshot
Figure 59 LG Electronics Inc.: Company Snapshot
Figure 60 Nike Inc.:Company Snapshot
Figure 61 Qualcomm Inc.: Business Overview
Figure 62 Sony Corp.: Company Snapshot

The overall market for wearable technology is expected to reach USD 31.27 Billion by 2020, at a CAGR of 17.8% between 2015 and 2020. This market is primarily driven by consumer preference for sophisticated gadgets, increasing popularity of smartwatches and wrist bands in the consumer market, increasing growth prospects of next-generation displays and integrated consumer wearable devices, increasing popularity of wearable fitness and medical devices, and growing popularity of Internet of Things.

The wearable technology market for the enterprise & industrial application is expected to grow at a highest CAGR during the forecast period. This growth is mainly attributed to the increasing demand for wearable scanners and computing devices in warehouse, logistics, and other operations where efficiency is inevitable. Enterprise and industrial wearable devices include compact, mobile, and wireless computing systems that can be worn on body and also various image scanners that find applications in enterprise and industrial processes; smart textiles tailors also include various other materials made for the industrial purpose.

The market for bodywear products is expected to grow at the highest growth rate among all other products during the forecast period. Bodywear products mainly include smart textiles with embedded electronics. The idea of wearable electronics has been around for more than four decades now. Gradually, the focus on these technologies is increasing and the industry looks toward customizing these technologies to suit a wearer’s needs and aesthetics, and for this, the emergence of smart textiles is considered to be a major development.

In 2014, the Americas accounted for the largest share of the wearable technology market due to several factors. One of the most important factors is technological innovations and advancements, which led to the introduction of new products. The increasing demands from consumers and medical applications have also led to the growth of wearable technology in the Americas.

Wearable Technology Market

Major players in the wearable technology market are Adidas AG (Germany), Apple, Inc. (U.S.), Fitbit, Inc. (U.S.), Garmin, Ltd. (Switzerland), Google, Inc. (U.S.), Jawbone, Inc. (U.S.), LG Electronics Inc. (South Korea), Nike, Inc. (U.S.), Pebble Technology Corp. (U.S.), Qualcomm, Inc. (U.S.), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), and Xiaomi Technology Co., Ltd. (China).

The industry's biggest roadblock of developing an efficient energy management solution for commercializing high-power consuming multiple computing and communication features incorporated in wearable devices is one of the major barriers. High initial price may restrain the addressable market to only high-end consumer space in various product fields. However, the factor may not have a long-term negative impact on consumers due to the increasing price war among players though it may result in a highly competitive market for new players.

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