About Wearable Devices
Wearable devices allow consumers to play virtual reality games, watch augmented reality videos, and listen to music. Individuals can also use these devices for measuring the distance traveled, calorie intake, and heart rate. These devices help in the prevention and control of many health-related issues such as obesity, heart disorders, and respiratory diseases.
Technavio’s analysts forecast the global smart wearable entertainment devices and services market to grow at a CAGR of 22.64% and 22.35% respectively during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global smart wearable entertainment devices and services market for 2016-2020. To calculate the market size, the report considers the smart wearable entertainment devices and revenue generated by telecommunication operators.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Smart Wearable Entertainment Devices and Services Market 2016-2020
Technavio recognizes the following companies as the key players in the global smart wearable entertainment devices and services market: AT&T, EE, Sprint, and Telefónica.
Other Prominent Vendors in the market are: 4D Force, Atheer Labs, Brilliant Services, Carl Zeiss, Emotiv Systems, Fat Shark, Fin Robotics, Gameband Minecraft, Glassup, Infiniteye Intelligent Headset, Iron Will Innovations Canada, Logbar, Neptune, Oculus, Skully Helmets, and Xbox.
Commenting on the report, an analyst from Technavio’s team said: “Decline in cost of smart wearable entertainment devices will be a key trend for market growth. A significant decline in the ASP of smart wearable devices in the developed countries will eventually increase the adoption rate of these devices. In 2012, the ASP of most of the devices that were sampled was recorded to be $800, depending on the application. The price has reduced to $250-$300 in 2016. This significant decline in the cost of wearable devices will increase the adoption rate of these devices both in developed and developing countries. Initially, the adoption of these devices was confined to developed countries because of the high cost. However, with the decline in cost, vendors have shifted their focus to developing countries to increase their revenue and market base.”
According to the report, growing popularity of entertainment devices among youth will be a key driver for market growth. The popularity of entertainment and gaming devices that provide a real-time virtual experience has increased over the years. These devices enable virtual 3D movies and HD gaming experience. The adoption of these devices is high among the age group of 18-24. The smart wearable entertainment devices provide easy access to movies and games on wearable screens. Devices such as Oculus Rift, iTVGoggles, and Sony's head-mounted display, HMZ-T3, use virtual reality technology to provide real-time music, video streaming, and video gaming experience to users. Therefore, the increased adaptability of these entertainment devices has increased the growth of the market.
Further, the report states that high power consumption of devices will be a challenge for the market. Most of the wearable entertainment devices function on GPS, wireless networks, and M2M technology. The battery life of the entertainment devices is very low because the power consumption of the technologies used in these devices is very high. This high power consumption starkly affects the duration of usage. The lifespan of Google Glass battery is 4-8 hours while in intensive use. Wearable devices' short battery life and high power consumption act as a restraint in its use and adoption having a negative impact on the growth prospects. Therefore, high power consumption coupled with low battery life will reduce the demand for smart wearable devices.
AT&T, EE, Sprint, Telefónica, 4D Force, Atheer Labs, Brilliant Services, Carl Zeiss, Emotiv Systems, Fat Shark, Fin Robotics, Gameband Minecraft, Glassup, Infiniteye Intelligent Headset, Iron Will Innovations Canada, Logbar, Neptune, Oculus, Skully Helmets, Xbox.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook