Wearable Electronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
The global wearable electronics market reached a volume of 115.8 Million Units in 2017. The market is further projected to reach a volume of 289.5 Million Units by 2023, exhibiting a CAGR of 16.5% during 2017-2023. Wearable electronics refer to smart devices which can be worn over the body by the users to enhance their day-to-day activities. They are integrated computing devices which enable wireless networking and mobile computing to the users.
Wearable electronics have a strong potential in any industry where hands free data collection has high value. Healthcare applications, however, represent the biggest drivers of these products. Wearable electronics enable users to efficiently monitor their health and activity. These devices can constantly measure the users vitals, quality of sleep and step count effortlessly and accurately. These devices can also monitor physiological data of patients with chronic conditions and can enable timely clinical interventions. These products can also be utilised for early detection of symptoms in a patient’s health status, enabling timely medical interventions. Other healthcare applications of wearable electronics comprise safety monitoring (to detect falls, epileptic seizures and heart problems) or life improvement, with a sensing technology used along with interactive gaming and Virtual Reality environments and augmented feedback systems. Apart from healthcare, a number of other applications are also driving the demand of wearable electronics. These products enable users to exercise more efficiently, enables them to keep their children safe, enhances personal accountability and helps individuals to be more productive at home and at the workplace.
Based on the product type, smart bands currently represent the biggest category in the market. Other products include smart watches, smart clothing, smart glasses and head mounted displays (HMD).
Based on the component type, the market has been segmented as networking and positioning components, power supply components, sensing components, optoelectronic and display components, control components and interface components.
Based on the application, the market has been segmented as healthcare applications, consumer applications, sports and fitness applications, industrial and commercial applications, and others.
Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, North America is the leading market, accounting for the majority of the global share.
The competitive landscape of the market has also been examined with some of the key players being adidas (Numetrex), Apple, BAE Systems, Carre Technologies, Fitbit, Garmin, Google, Jawbone, Kopin, LG Electronics, Ohmatex, OMsignal, Nike, Recon Instruments, Rockwell Collins, Samsung, Seiko Epson, Sony and Vuzix.
This report provides a deep insight into the global wearable electronics market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the wearable electronics market in any manner.
Key Questions Answered in This Report:
How has the global wearable electronics market performed so far and how will it perform in the coming years?
What are the key regional markets in the global wearable electronics industry?
What are the key product types in the global wearable electronics industry?
What is the breakup of the wearable electronics market by component?
What are the major application segments in the global wearable electronics industry?
What are the various stages in the value chain of the global wearable electronics market?
What are the key driving factors and challenges in the global wearable electronics market?
What is the structure of the global wearable electronics market and who are the key players?
What is the degree of competition in the global wearable electronics market?
How are wearable electronics manufactured?