Growth Opportunities in the Global Wearable Devices Market
The wearable devices market is at an early growth stage, catering to a limited and niche customer base. With improved devices and the development of newer, interesting use cases, a transition to mass market proliferation will occur.
The wearable device market is evolving into a converged ecosystem constituting technology vendors as well as vertical-specific original equipment manufacturers (OEMs).
New business models will be key to the successful uptake of wearable devices. Service-based models and enterprise or vertical market partnerships will be especially effective in pushing wearable technology to the mass market.
Healthcare industry offers promising opportunities for the application of wearable technology, with a number of major vendors such as Apple and Samsung enteout this reportring this space.
About this report
Excitement pervades the market about wearable device opportunities. Large device manufacturers and niche technology companies are constantly innovating to launch new devices for varied applications. However, market uptake is still limited to a niche customer group due to pricing, battery, data accuracy, data security, and weak business case challenges. Market evolution is expected with the development of sustainable business models such as subscription services and enterprise or vertical specialization. This study outlines key points of inquiry in the wearable devices market and highlights prospective growth opportunities.
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