HOME Top Market Reports Wearable Technology Market by Product (Wristwear, Headwear/Eyewear, Footwear, Neckwear, Bodywear), Type (Smart Textile, Non-Textile), Application (Consumer Electronics, Healthcare, Enterprise & Industrial), and Geography - Global Forecast to 2022

Wearable Technology Market by Product (Wristwear, Headwear/Eyewear, Footwear, Neckwear, Bodywear), Type (Smart Textile, Non-Textile), Application (Consumer Electronics, Healthcare, Enterprise & Industrial), and Geography - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: January 2017
Report Code: SE 2763

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The wearable technology market is expected to reach USD 51.60 billion by 2022 at a CAGR of 15.51% between 2016 and 2022. The base year considered for the study is 2015, and the forecast is for the period between 2016 and 2022. The growth of  market is driven by factors such as consumer preference for sophisticated gadgets, increasing growth prospects of next-generation displays in wearable devices, and growing popularity of Internet of Things (IoT) and connected devices.

The report aims at estimating the market size and future growth potential of the wearable technology market based on type, products, application, and region. The report analyzes the market structure by identifying various subsegments of the market. The report aims at identifying the major market trends and factors driving or restraining the growth of the market and its various submarkets. Moreover, this report analyzes the Porter’s five forces model in detail along with the value chain analysis of the wearable technology market. Furthermore, the report analyzes opportunities in the market for stakeholders by identifying the high-growth segments of the wearable ecosystem, strategically profiles the key players in the market, and comprehensively analyzes their market size and core competencies in each segment.

The research methodology used to estimate and forecast the wearable technology market begins with capturing data on key vendor revenue through secondary research. Some of the secondary sources used in this research include information from various wearables associations and organizations, such as Wearable Robotics Association (U.S.), and The App Association (ACT) (U.S.) among others. The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the wearable technology market from the revenue of key players. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key people such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedure has been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primaries is depicted in the following figure:

Wearable Technology Market

To know about the assumptions considered for the study, download the pdf brochure

The wearable technology market ecosystem includes research and development associations, component manufacturers and suppliers, wearables product manufacturers, software solution providers, and end users. The market comprises major players, such as Fitbit, Inc. (U.S.), Apple, Inc.(U.S.), Xiaomi Technology Co. Ltd. (China), Garmin Ltd. (U.S.), Samsung Electronics Co., Ltd.(South Korea), Guangdong BBK Electronics Co., Ltd (China), Misfit, Inc. (U.S.), Alphabet, Inc. (U.S.), LG Electronics Inc.(South Korea), Qualcomm Technologies, Inc. (U.S.), Adidas Group (Germany), Sony Corporation (Japan), Jawbone, Inc. (U.S.), and Lifesense Group (The Netherlands) among others.

Target Audience of the Wearable Technology Market Report

The intended audience for this report includes:

  • Consumer wearable manufacturers
  • Healthcare-related product manufacturers
  • Textile and cloth manufacturers and suppliers
  • Luxury clothing and accessory manufacturers
  • Consumer electronics manufacturers
  • Integrated device manufacturers (IDMs)
  • Wearable electronics technology platform developers

Scope of the Report

The research report segments the wearable technology market into the following subsegment:

Wearable Technology Market By Type:

  • Wearable Smart Textiles
    • Wearable Smart Textile Market, By Type
      • Passive Smart Textiles
      • Active Smart Textiles
      • Ultra-smart Textiles
    • Wearable Smart Textiles Market, By Function
      • Sensing
      • Energy Harvesting
      • Luminescence and Aesthetics
      • Thermo-electricity
      • Others
  • Wearable Products and Devices (Non-Textiles)

Wearable Technology Market By Product:

  • Wristwear
    • Smartwatch
    • Wrist Band
  • Headwear and Eyewear
    • Augmented Reality
    • Virtual Reality
    • Other (Mixed reality and other displays)
  • Footwear
    • Casual Footwear
    • Special Purpose Footwear
  • Neckwear
    • Fashion and Jewelry
    • Ties and Collars
  • Bodywear
    • Inner Wear
    • Fashion and Apparel
    • Arm and Legwear
  • Other Wearable Technology
    • Ring Scanners
    • Body-worn Camera
    • Internables/Implantables

By Technology (Qualitative):

  • Computing Technologies
  • Display Technologies
  • Networking Technologies
  • Positioning Technologies
  • Sensor Technologies

By Component (Qualitative):

  • Power Supply Components
  • Positioning and Networking Components
  • Sensing Components
  • Control Components
  • Display and Optoelectronic Components
  • Memory Components
  • Interface Components

Wearable Technology Software and Services (Qualitative)

  • Software
    • Operating System (0S)
    • watchOS
    • Android
    • Android Wear OS
    • Real-Time Operating System (RTOS)
    • Tizen
    • Linux
    • Pebble OS
    • Security Solutions
    • By Security Type
    • Network Security
    • Cloud Security
    • Wireless Security
    • Application Security
      • By Solution Type
        • Role Based Access Control (RBAC)
          • Mandatory Access Control (MAC)
          • Discretionary Access Control (DAC)
        • Risk and Vulnerability Management
        • DDoS Mitigation
        • Intrusion Detection and Intrusion Prevention System
    • Apps (Applications)
  • Services
  • Cloud and Data Analytics

By Application:

  • Consumer Electronics
    • Fitness and Sports Applications
    • Infotainment and Multimedia Applications
    • Garments and Fashion Applications
    • Multi-Function Applications
  • Healthcare
    • Clinical Applications
    • Non-Clinical Applications
  • Enterprise and Industrial Applications
    • Logistics, Packaging, and Warehouse Applications
    • Other Industrial Applications
  • Other Applications

By Region:

  • Americas
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific (APAC)
    • China
    • Japan
    • South Korea
    • India
    • Rest of APAC
  • Rest of the World (RoW)
    • Middle East
    • Africa

Available Customizations:

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

  • Company information: Detailed analysis and profiling of additional five market players.

Growing popularity of Internet of Things (IoT) and connected devices to drive the global wearable technology market

The Internet of Things (IoT) refers to the phenomenon in which not only computers, but all sorts of devices with embedded computing capacity are interconnected. These include self-driving cars, drones, smart sensors, connected homes, and wearable devices. For consumers, IoT technologies offer an array of new devices and service options that make lives and jobs easier. This is especially the case with the subset of IoT technologies known as wearables. Also, IoT plays a significant role in a broad range of healthcare applications, from managing chronic diseases to preventing diseases.

New crossover technologies are expected to drive the growth of the wearable technology market. The Augmented Reality (AR) technology overlays digital information such as text, images, or video onto the real world. Many smart glasses feature the AR concept that provides reference images and graphics, which is considered as a powerful enhancement in wearables. Similarly, the Internet of Things (IoT) refers to the integration of devices with connectivity and artificial intelligence.

Market Dynamics

  • Drivers
    • Consumer preference for sophisticated gadgets
    • Increasing growth prospects of next-generation displays in wearable devices
    • Growing popularity of Internet of Things (IOT) and connected devices
  • Restraints
    • Shorter life cycle of the consumer electronics sector
  • Opportunities
    • Adoption of wearables in multiple application areas
    • Multi-featured and hybrid application mobile devices
  • Challenges
    • High initial costs and limited battery life
    • Unaddressed regulatory issues and vulnerability of healthcare information

Wearable Technology Market

Critical Questions

  • How wearable technology disrupt the way healthcare applications are carried out in both clinical and non-clinical applications?
  • How wearable devices use human-computer interaction by making use of a small body-worn computer and various sensors?
  • How the improvement in the wearable components is driving the wearable technology demand?

Table of Contents

1 Introduction (Page No. - 18)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency and Pricing
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           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 Primaries
    2.2 Factor Analysis
           2.2.1 Introduction
           2.2.2 Demand Side
                    2.2.2.1 Growth of Smartphones and Mobile Payments
                    2.2.2.2 Increasing Demand of Wearable Devices in Healthcare Because of the Increase in the Aging Population
           2.2.3 Supply Side
                    2.2.3.1 Continuous Innovation in Technology
    2.3 Market Size Estimation
           2.3.1 Bottom-Up Approach
           2.3.2 Top-Down Approach
    2.4 Market Breakdown and Data Triangulation
    2.5 Research Assumptions

3 Executive Summary (Page No. - 31)

4 Premium Insights (Page No. - 36)
    4.1 Wearable Technology Market Opportunities
    4.2 Geographical Snapshot of the Wearable Technology Market
    4.3 Market, By Consumer Electronics Application, 2016–2022 (USD Million)
    4.4 Market for Wristwear, By Product, 2016 vs 2022 (USD Billion)
    4.5 Wearable Technology Market, By Application

5 Market Overview (Page No. - 40)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 Wearable Technology Market, By Type
           5.2.2 Market, By Product
           5.2.3 Market, By Technology
           5.2.4 Market, By Component
           5.2.5 Wearable Technology Software and Services
           5.2.6 Wearable Technology Market, By Application
           5.2.7 Market, By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Consumer Preference for Sophisticated Gadgets
                    5.3.1.2 Increasing Growth Prospects of Next-Generation Displays in Wearable Devices
                    5.3.1.3 Growing Popularity of Internet of Things and Connected Devices
           5.3.2 Restraints
                    5.3.2.1 Shorter Life Cycle of the Consumer Electronics Sector
           5.3.3 Opportunities
                    5.3.3.1 Adoption of Wearables in Multiple Application Areas
                    5.3.3.2 Multi-Featured and Hybrid Application Mobile Devices
           5.3.4 Challenges
                    5.3.4.1 High Initial Costs and Limited Battery Life
                    5.3.4.2 Unaddressed Regulatory Issues & Vulnerability of Healthcare Information

6 Industry Trends (Page No. - 53)
    6.1 Introduction
    6.2 Supply Chain Analysis
           6.2.1 Core Industry Segment
           6.2.2 Supporting Industry Segment
    6.3 Value Chain Analysis
    6.4 Porter’s Five Forces Analysis
           6.4.1 Threat of New Entrants
           6.4.2 Threat of Substitutes
           6.4.3 Bargaining Power of Suppliers
           6.4.4 Bargaining Power of Buyers
           6.4.5 Intensity of Competitive Rivalry

7 Wearable Technology Market, By Type (Page No. - 64)
    7.1 Introduction
    7.2 Wearable Smart Textile
           7.2.1 Wearable Smart Textile Market, By Type
                    7.2.1.1 Active Smart Textiles
                    7.2.1.2 Passive 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 Thermoelectricity
                    7.2.2.5 Others
    7.3 Wearable Products & Devices (Non-Textiles)

8 Wearable Technology Market, By Product (Page No. - 77)
    8.1 Introduction
    8.2 Wristwear
           8.2.1 Smartwatches
           8.2.2 Wristbands
    8.3 Headwear & Eyewear
           8.3.1 Augmented Reality Headsets
           8.3.2 Virtual Reality Headsets
           8.3.3 Others
    8.4 Footwear
           8.4.1 Casual Footwear
           8.4.2 Special-Purpose Footwear
    8.5 Neckwear
           8.5.1 Fashion and Jewelry
           8.5.2 Ties and Collars
    8.6 Bodywear
           8.6.1 Inner Wear
           8.6.2 Fashion & Apparel
           8.6.3 Armwear & Legwear
    8.7 Other Wearable Technologies
           8.7.1 Ring Scanners
           8.7.2 Bodyworn Cameras
           8.7.3 Internables/Implantables

9 Wearable Technology Market, By Technology (Page No. - 92)
    9.1 Introduction
    9.2 Computing Technology
    9.3 Display Technology
    9.4 Networking Technology
    9.5 Positioning Technology
    9.6 Sensor Technology

10 Wearable Technology Market, By Component (Page No. - 97)
     10.1 Introduction
     10.2 Power Supply Components
     10.3 Positioning and Networking Components
     10.4 Sensing Components
     10.5 Control Components
     10.6 Display and Optoelectronic Components
     10.7 Memory Components
     10.8 Interface Components

11 Software and Services Used in Wearable Technology (Page No. - 101)
     11.1 Introduction
     11.2 Software
             11.2.1 Operating System (OS)
                        11.2.1.1 Watchos
                        11.2.1.2 Android
                        11.2.1.3 Android Wear OS
                        11.2.1.4 Real-Time Operating System (RTOS)
                        11.2.1.5 Tizen
                        11.2.1.6 Linux
                        11.2.1.7 Pebble OS
                        11.2.1.8 Others
             11.2.2 Security Solutions
                        11.2.2.1 By Security Type
                                     11.2.2.1.1 Network Security
                                     11.2.2.1.2 Cloud Security
                                     11.2.2.1.3 Wireless Security
                                     11.2.2.1.4 Application Security
                        11.2.2.2 By Solution Type
                                     11.2.2.2.1 Role-Based Access Control (RBAC)
                                                    11.2.2.2.1.1 Mandatory Access Control (MAC)
                                                    11.2.2.2.1.2 Discretionary Access Control (DAC)
                                     11.2.2.2.2 Risk & Vulnerability Management
                                     11.2.2.2.3 Distributed Denial of Service (Ddos) Mitigation
                                     11.2.2.2.4 Intrusion Detection and Intrusion Prevention System
             11.2.3 Apps (Applications)
     11.3 Services
             11.3.1 Cloud & Data Analytics
             11.3.2 Others

12 Wearable Technology Market, By Application (Page No. - 109)
     12.1 Introduction
     12.2 Consumer Electronics
             12.2.1 Fitness & Sports
             12.2.2 Infotainment & Multimedia
             12.2.3 Garments & Fashion
             12.2.4 Multifunction
     12.3 Healthcare
             12.3.1 Clinical Applications
             12.3.2 Nonclinical Applications
     12.4 Enterprise & Industrial Application
             12.4.1 Logistics, Packaging, & Warehouse
             12.4.2 Other Industrial Applications
     12.5 Other Applications

13 Geographic Analysis (Page No. - 125)
     13.1 Introduction
     13.2 Americas
             13.2.1 U.S.
             13.2.2 Canada
             13.2.3 Mexico
             13.2.4 Others
     13.3 Europe
             13.3.1 Germany
             13.3.2 U.K.
             13.3.3 France
             13.3.4 Others
     13.4 Asia-Pacific (APAC)
             13.4.1 China
             13.4.2 Japan
             13.4.3 South Korea
             13.4.4 India
             13.4.5 Others
     13.5 Rest of the World
             13.5.1 Middle East
             13.5.2 Africa

14 Competitive Landscape (Page No. - 148)
     14.1 Overview
     14.2 Arket Share Analysis of the Wearable Technology Market, 2015
     14.3 Competitive Situations and Trends
             14.3.1 New Product Launch
             14.3.2 Partnerships
             14.3.3 Acquisition and Collaboration

15 Company Profiles (Page No. - 156)
(Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
     15.1 Introduction
     15.2 Fitbit, Inc.
     15.3 Apple, Inc.
     15.4 Xiaomi Technology Co., Ltd
     15.5 Garmin Ltd.
     15.6 Samsung Electronics Co., Ltd.
     15.7 Alphabet, Inc.
     15.8 LG Electronics, Inc.
     15.9 Qualcomm Technologies, Inc.
     15.10 Sony Corporation
     15.11 Adidas Group
     15.12 Jawbone, Inc.
     15.13 Misfit, Inc.
     15.14 Guangdong Bbk Electronics Co., Ltd
     15.15 Lifesense Group B.V.

*Details on Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

16 Appendix (Page No. - 190)
     16.1 Insights of Industry Experts
     16.2 Discussion Guide
     16.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     16.4 Introducing RT: Real-Time Market Intelligence
     16.5 Available Customizations
     16.6 Related Reports
     16.7 Author Details


List of Tables (70 Tables)

Table 1 Wearable Technology Market, Market Size in Terms of Value and Volume, 2014–2022
Table 2 The Need for Sophisticated Devices Propels the Growth of the Market
Table 3 Need of Self-Powering Devices Restrains the Growth of the Market
Table 4 Increasing Opportunities in Multiple Applications and Technological Growth Pave the Growth Avenue for Players in the Wearables Market
Table 5 Unaddressed Regulatory Issues and Vulnerability of Healthcare Information
Table 6 Porter’s Five Forces Analysis: Bargaining Power of Suppliers Expected to Have A Medium Impact on Market, 2015
Table 7 Wearable Technology Market, By Type, 2014–2022 (USD Million)
Table 8 Market, By Type, 2014–2022 (Million Units)
Table 9 Wearable Smart Textiles Market, By Type, 2014–2022 (USD Million)
Table 10 Active Smart Textiles Market, By Function, 2014–2022 (USD Million)
Table 11 Passive Smart Textile Market, By Function, 2014–2022 (USD Million)
Table 12 Ultra-Smart Textiles Market, By Function, 2014–2022 (USD Million)
Table 13 Wearable Smart Textiles Market, By Function, 2014–2022 (USD Million)
Table 14 Smart Textiles Market for Sensing, By Type, 2014–2022 (USD Million)
Table 15 Smart Textiles Market for Energy Harvesting, By Type, 2014–2022 (USD Million)
Table 16 Smart Textiles Market for Luminescence & Aesthetics, By Type, 2014–2022 (USD Million)
Table 17 Smart Textiles Market for Thermoelectricity, By Type, 2014–2022 (USD Million)
Table 18 Smart Textiles Market for Other Functions, By Type, 2014–2022 (USD Million)
Table 19 Wearable Technology Market, By Product, 2014–2022 (USD Million)
Table 20 Market, By Product, 2014–2022 (Million Units)
Table 21 Wearable Technology Market for Wristwear, By Product, 2014–2022 (USD Million)
Table 22 Market for Wristwear, By Product, 2014–2022 (Million Units)
Table 23 Market for Headwear & Eyewear, By Product, 2014–2022 (USD Million)
Table 24 Market for Headwear & Eyewear, By Product, 2014–2022 (Thousand Units)
Table 25 Market for Footwear, By Product, 2014–2022 (USD Million)
Table 26 Market for Footwear, By Product, 2014–2022 (Thousand Units)
Table 27 Wearable Technology Market for Neckwear, By Product, 2014–2022 (USD Million)
Table 28 Market for Neckwear, By Product, 2014–2022 (Thousand Units)
Table 29 Market for Bodywear, By Product, 2014–2022 (USD Million)
Table 30 Market for Bodywear, By Product, 2014–2022 (Thousand Units)
Table 31 Market for Other Technologies, By Product, 2014–2022 (USD Million)
Table 32 Market for Other Technologies, By Product, 2014–2022 (Thousand Units)
Table 33 Wearable Technology Market, By Application, 2014–2022 (USD Million)
Table 34 Market, By Application, 2014–2022 (Million Units)
Table 35 Wearable Technology Market for Consumer Electronics Application, By Type, 2014–2022 (USD Million)
Table 36 Market for Consumer Electronics Application, By Type, 2014–2022 (Thousand Units)
Table 37 Market for Consumer Electronics Application, By Region, 2014–2022 (USD Million)
Table 38 Market for Consumer Electronics, By Region, 2014–2022 (Thousand Units)
Table 39 Market for Healthcare Application, By Type, 2014–2022 (USD Million)
Table 40 Market for Healthcare Application, By Type, 2014–2022 (Thousand Units)
Table 41 Market for Healthcare, By Region, 2014–2022 (USD Million)
Table 42 Market for Healthcare Application, By Region, 2014–2022 (Thousand Units)
Table 43 Wearable Technology Market for Enterprise & Industrial Application, By Type, 2014–2022 (USD Million)
Table 44 Market for Enterprise & Industrial Application, By Type, 2014–2022 (Thousand Units)
Table 45 Market for Enterprise & Industrial Application, By Region, 2014–2022 (USD Million)
Table 46 Wearable Technology Market for Enterprise & Industrial Application, By Region, 2014–2022 (Thousand Units)
Table 47 Market for Other Applications (USD Million) (Million Units), 2014–2022
Table 48 Market for Other Applications, By Region, 2014–2022 (USD Million)
Table 49 Market for Other Applications, By Region, 2014–2022 (Thousand Units)
Table 50 Wearable Technology Market, By Region, 2014–2022 (USD Million)
Table 51 Market, By Region, 2014–2022 (Thousand Units)
Table 52 Wearable Technology Market in Americas, By Country, 2014–2022 (USD Million)
Table 53 Market in the Americas, By Country, 2014–2022 (Thousand Units)
Table 54 Market in American, By Application, 2014–2022 (USD Million)
Table 55 Market in Americas, By Application, 2014–2022 (Thousand Units)
Table 56 Wearable Technology Market in Europe, By Country, 2014–2022 (USD Million)
Table 57 Market in Europe, By Country, 2014–2022 (Thousand Units)
Table 58 Market in Europe, By Application, 2014–2022 (USD Million)
Table 59 Market in Europe, By Application, 2014–2022 (Thousand Units)
Table 60 Wearable Technology Market in APAC, By Country, 2014–2022 (USD Million)
Table 61 Market in APAC, By Country, 2014–2022 (Thousand Units)
Table 62 Market in APAC, By Application, 2014–2022 (USD Million)
Table 63 Market in APAC, By Application, 2014–2022 (Thousand Units)
Table 64 RoW Wearable Technology Market, By Geography, 2014–2022 (USD Million)
Table 65 Market in RoW, By Region, 2014–2022 (Thousand Units)
Table 66 Market in RoW, By Application, 2014–2022 (USD Million)
Table 67 Market in RoW, By Application, 2014–2022 (Thousand Units)
Table 68 New Product Launch (2014–2016)
Table 69 Partnership (2014–2016)
Table 70 Acquisition and Collaboration (2015–2016)


List of Figures (77 Figures)

Figure 1 Markets Covered Under Wearable Technology
Figure 2 Research Design
Figure 3 Global Smartphone Shipment, 2014–2016 (Million Units)
Figure 4 Percentage of Aging Population (Above 60 Years) of the Total Population
Figure 5 Data Triangulation
Figure 6 Wearable Technology Market (2014–2022)
Figure 7 Headwear & Eyewear in Market Expected to Grow at Highest Rate Between 2016 vs 2022
Figure 8 Consumer Electronics is Expected to Be the Largest Market for Wearable Technology Between 2016 and 2022
Figure 9 Wearable Smart Textiles Market, By Type; Ultra-Smart Textiles Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 10 Americas Accounted for the Largest Share of the Wearable Technology Market in 2015
Figure 11 Wearable Technology Market Expected to Display Lucrative Growth Opportunities Owing to Increasing Demand for Fitness and Health Tracking Devices in the Forecast Period
Figure 12 Market in the Americas Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 13 Market for Multi-Function Segment Expected to Witness the Highest Growth Rate Between 2016 and 2022
Figure 14 Wearable Technology Market for Smartwatches Expected to Grow Rapidly Between 2016 and 2022
Figure 15 Market for Consumer Electronics Application Accounted for the Largest Market Share in 2016
Figure 16 Growing Popularity of Internet of Things and Connected Devices and Consumer Preference for Sophisticated Gadgets are the Driving Factors for the Growth of Market
Figure 17 Internet of Things Technology Market, 2013–2015 (USD Billion)
Figure 18 Wearable Technology Market: Supply Chain Flow
Figure 19 Value Chain Analysis of the Wearable Technology Market
Figure 20 Overview of Porter’s Five Forces Analysis for the Market
Figure 21 Wearable Technology Market: Porter’s Five Forces Analysis, 2015
Figure 22 Market: Threat of New Entrants
Figure 23 Venture Capitalist Funding to Wearable Technologies Companies (2011-2015)
Figure 24 Wearable Technology Market: Threat of Substitutes
Figure 25 Market: Bargaining Power of Suppliers
Figure 26 Market: Bargaining Power of Buyers
Figure 27 Market: Intensity of Competitive Rivalry
Figure 28 Wearable Technology Market, By Type
Figure 29 Non-Textile Type Wearable Products Expected to Witness High Growth Rate in the Market Between 2016 and 2022
Figure 30 Active Smart Textile Estimated to Hold the Largest Share of the Market Between 2016 and 2022
Figure 31 Market for Sensing to Lead the Market Between 2016 and 2022
Figure 32 Sensing Estimated to Dominate the Market in Terms of Growth and Market Share Between 2016 and 2022
Figure 33 Active Smart Textile Market to Hold the Largest Size Between 2016 and 2022
Figure 34 Wearable Technology Market, By Product
Figure 35 Headwear & Eyewear Segment of Market Expected to Witness the Highest Growth Rate During the Forecast Period
Figure 36 Smartwatch to Lead the Market for Wristwear Between 2016 and 2022
Figure 37 Augmented Reality Expected to Witness the Highest Growth Rate in the in Market for Headwear & Eyewear During the Forecast Period
Figure 38 Innerwear Expected to Lead the Market for Bodywear During the Forecast Period
Figure 39 Wearable Technology Market, By Technology
Figure 40 Market, By Component
Figure 41 Software and Service Used in Wearable Technology
Figure 42 Wearable Technology Market, By Application
Figure 43 Consumer Electronics Application Expected to Dominate the Market Between 2016 and 2022
Figure 44 Garments & Fashion Segment of the Consumer Electronics Application Estimated to Grow at the Highest Rate Between 2016 and 2022
Figure 45 Americas to Lead the Market for the Consumer Electronics Application During the Forecast Period
Figure 46 Nonclinical Wireless Health Segment of the Healthcare Application to Hold the Major Share of the Market During the Forecast Period
Figure 47 Logistics, Packaging, & Warehouse to Witness the Highest Growth Rate in the Enterprise & Industrial Application of the Wearable Technology Market Between 2016 and 2022
Figure 48 Americas to Dominate the Market for Other Applications of Wearable Technology in Terms of Market Size and Growth Rate During the Forecast Period
Figure 49 Geographic Snapshot of the Wearable Technology Market (2016–2022)
Figure 50 Market in the Americas Expected to Grow at the Highest Rate During the Forecast Period
Figure 51 Americas: Wearable Technology Market Snapshot
Figure 52 Canada Expected to Witness the Highest Growth Rate in the Market Between 2016 and 2022
Figure 53 Europe: Wearable Technology Market Snapshot
Figure 54 Germany Estimated to Witness the Highest Growth Rate in the Market During the Forecast Period
Figure 55 Asia-Pacific: Market Snapshot
Figure 56 Wearable Technology Market in India Estimated to Grow at the Highest Rate During the Forecast Period
Figure 57 Rest of the World: Wearable Technology Market Snapshot
Figure 58 Middle East to Dominate the Market in RoW During the Forecast Period
Figure 59 Companies Adopted New Product Launch as the Key Growth Strategy Between 2014 and 2016
Figure 60 Market Share Analysis for Market (2016)
Figure 61 Battle for Market Share: New Product Launches Have Been the Key Strategy
Figure 62 Market Evolution Framework – New Product Launches and Partnerships are Responsible for Growth of the Market Between 2014 and 2016
Figure 63 Geographic Revenue Mix of the Major Market Players
Figure 64 Fitbit, Inc.: Company Snapshot
Figure 65 Fitbit Inc.: SWOT Analysis
Figure 66 Apple, Inc.: Company Snapshot
Figure 67 Apple, Inc.: SWOT Analysis
Figure 68 Xiaomi Technology Co., Ltd.: SWOT Analysis
Figure 69 Garmin Ltd.: Company Snapshot
Figure 70 Garmin Ltd.: SWOT Analysis
Figure 71 Samsung Electronics Co., Ltd.: Company Snapshot
Figure 72 Samsung Electronics Co., Ltd.: SWOT Analysis
Figure 73 Alphabet, Inc.: Company Snapshot
Figure 74 LG Electronics, Inc.: Company Snapshot
Figure 75 Qualcomm Technologies, Inc.: Company Snapshot
Figure 76 Sony Corporation: Company Snapshot
Figure 77 Adidas Group: Company Snapshot

The wearable technology market size is expected to grow from USD 15.74 billion in 2015 to USD 51.60 billion by 2022, at a CAGR of 15.51% between 2016 and 2022. The market is expected to grow because of various driving factors, such as consumer preference for sophisticated gadgets, increasing growth prospects of next-generation displays in wearable devices, and growing popularity of Internet of Things (IoT) and connected devices.

The wearable technology market for the enterprise and industrial application is expected to grow at a highest CAGR between 2016 and 2022. 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 could be worn on the body (for example, ring scanners) as well as various image scanners that find applications in the enterprise and industrial processes.

The wristwear product is expected to cover the maximum size of the wearable technology market between 2016 and 2022. The factor for this growth is attributed to key industry players who are introducing products with advanced features to serve customers’ need of fitness and healthcare. Wristwear measures fitness and healthcare parameters, which includes heartrate, calories, distance travelled, and steps. All such parameters could be synchronized with a mobile to store data. Moreover, people could access the mobile through wearable devices with the help of wristwears. So considering all such developments, it is estimated that wristwear would gain the maximum size of the wearable technology market between 2016 and 2022.

In 2015, the Americas accounted for the largest share of the wearable technology market because of several factors. One of the most important factors is technological innovations and advancements, which led to the introduction of new products. The increasing demand from consumers and medical applications has also led to the growth of market in the Americas.

Wearable Technology Market

However, the wearable technology market faces some challenges associated with growing concerns such high initial costs and limited battery life, and unaddressed regulatory issues and vulnerability of healthcare information. This report describes the drivers, restraints, opportunities, and challenges pertaining to the market. Moreover, the report analyzes the current scenarios and forecasts the market until 2022. Furthermore, this report includes the market segmentation based on type, product, application, and region.  
Some of the major companies in the wearable technology market, include Fitbit, Inc. (U.S.), Apple, Inc.(U.S.), Xiaomi Technology Co. Ltd. (China), Garmin Ltd. (U.S.), Samsung Electronics Co., Ltd.(South Korea), Guangdong BBK Electronics Co., Ltd (China), Misfit, Inc. (U.S.), Alphabet, Inc. (U.S.), LG Electronics Inc.(South Korea), Qualcomm Technologies, Inc. (U.S.), Adidas Group (Germany), Sony Corporation (Japan), Jawbone, Inc. (U.S.), and Lifesense Group (The Netherlands) among others.

Increasing health consciousness among people, there is a growing demand for cost-effective and time-efficient fitness solutions, which drives the growth of wearable technology market.

Consumer Electronics

Consumer wearable electronics includes a number of wearable devices that are used in varied applications such as fitness and sports, entertainment and multimedia, and garments and fashion. The growth in the market can be attributed to the rising consumer demands coupled with the proliferation and suitability of the enhanced communication protocol and miniaturization of sensor technology. Sensors and wearable devices can be integrated into various accessories such as garments, hats, wristbands, socks, shoes, eyeglasses, and other devices such as wristwatches, headphones, and smartphones because of their compact size and advanced integration technologies.

Healthcare

Wearable technology plays a crucial role in remote patient monitoring. It enables continuous monitoring of the patient’s vitals and data collection, thus allowing doctors to look at data over a certain time and understand the patterns of the patient’s overall health. . The wearable device technology offers a supplementary source of information apart from the events narrated by the patient and the symptoms experienced for concluding the diagnosis of the patient. This application of wearable technology is critical when the patient is at a remote location or may not be able to directly provide information to the physician, such as in case of children, the elderly, or those battling mental health issues.

Skin patches are small adhesive devices attached to the patient’s body that detect body metrics such as heart rate, respiratory rate, and blood pressure. Such wearable devices act as extensions of a smartphone. They gather data and transmit information wirelessly, thus making a clinician’s work more efficient and extending care outside the hospital environment.

Enterprise & Industrial Applications

Enterprise and industrial wearable devices include compact, mobile, and wireless computing systems that can be worn on the body as well as various image scanners that find applications in enterprise and industrial processes. Wearable computers, in the form of wristwear and fingerwear, are enabling devices in the logistics, packaging, and warehouse applications where they are deployed to increase workers’ mobility and productivity.

Critical questions would be;

  • What could be the potential industrial applications of wearable technology?
  • How wearable technology leverages the cloud and data analytics services to expand applications and increase functionality?
  • What is the importance of security in wearable technology?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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