Global Wearable Computing Market Research Report, Insights, Opportunity Analysis, Market Shares and Forecast 2017 - 2023
A wearable computer is an advanced gadget that is either strapped to or carried on a user body. It is utilized frequently for behavioral demonstration, health monitoring system, IT and media advancement. In major cases, they serve much like a prosthetic, in that gadget use does not require users to stop different work. The global wearable computing market is anticipated to grow with a CAGR of 21% in the forecasted period 2016-2023. The adoption of wristbands and smart watches in consumer market, increasing focus towards networking, communication and recognition technologies, increasing adoptability of internet of things and increasing adoptability of wearable medical and health devices are some of the key drivers for the growth of the market. Moreover, high price range of eye and body wear and data privacy concern are some of the major challenges which hinders the growth of global wearable computing market.
On the basis of geography, global wearable computing market is diversified into North America, Europe, Asia Pacific and rest of the world. North America wearable computing market holds the largest market share in 2016. The United State and Canada are the major countries of the North America which helps to drive the wearable computing market. North America region is expanding due to rising adoption of wearable computing technology. Further, Asia Pacific wearable computing market is anticipated to grow with highest CAGR in the forecast period 2016-2023. China, India, Japan are some of the major countries which drive the Asia Pacific wearable computing market. Further, global wearable computing market is segmented into technology and application. On the basis of technology, the global wearable computing market is diversified into computing technology, display technology, networking technology and many more. On the basis of application, the global wearable computing market is diversified into healthcare and medical, fitness and wellness, infotainment, enterprise & industrial and other applications.
Adidas AG (Germany), Apple Inc. (U.S.), Boston Scientific Corporation (U.S.), Fitbit Inc (U.S.)., Garmin, Ltd. (U.S.), Jawbone (U.S.), LG Electronics, Inc. (South Korea), , Intel Corporation (U.S.), are some of the major companies of the global wearable computing market. Acquisition, merger, innovation and new product launch are some of the major strategies adopted by the companies in global wearable computing market. For example: As per the company sources in 2015 Intel Corporation (U.S.) acquired Recon Instruments a Canada based company for $175 million which would help Intel Corporation to increase its wearable segment. This acquisition would help the company to increase its market share.
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