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Wearable Computing Market: Forecast to 2027
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Wearable computing is a shared relationship between man and machine. This creates a unique differentiation between wearable computers and portable machines such as hand held devices and laptop computers which intensify the bond between human and computer to evolve the wearable computing as a concept of human intelligence. The human intelligence is a framework which is an outcome of a communication bond between human and computational process. For instance, a wearable device can be transformed into electric eyeglass where the user can interact and analyze the device without any interruption.
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The wearable computing technique are extensively used in different technologies such as augmented reality, diminished reality and mediated reality. With the constant evolving technologies, the computing techniques can be implemented into smart watches and wristbands.
The rising need and increase in adoption of techniques in wearable health and medical devices are expected to drive the wearable computing market over the forecast period. Additionally, diffusion of smart clothing in the European region in large investment is presumed to be gaining prospect over the next few years.
On the other hand, high initial price range of wearable devices and lack of technical know-how are presumed to hinder the growth of wearable computing market over the review period.
The wearable computing has been categorized into technology, product, and end user.
Based on the technology, the wearable computing is sub divided into display technologies, networking technologies, and other technologies. The display technologies sub segment comprises of augmented reality and virtual reality. Additionally, the networking technologies is classified into Wi-Fi and Bluetooth. Product segment is subcategorized into smart clothing & textiles, activity monitoring device, wearable camera and virtual reality eyewear. Furthermore, wearable computing is further divided on the basis of end user that includes defense & security, home automation, medical & healthcare, enterprise & industrial, fitness & wellness, infotainment, gaming, and other applications.
According to Market Research Future analysis, Wearable Computing Market has been valued at approximately USD 35 billion growing with a 15% CAGR during forecast period 2017-2023.
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Key Players:
Market research future identifies some of the key players of wearable computing market are Nike Inc. (U.S.), Pebble Technology Corporation (U.S.), Valve Corporation (U.S.), Zephyr Technology Corporation (U.S.), Samsung Electronics Co., Ltd (Republic of Korea), Smartlife Technology Ltd (Manchester), Fitbit Inc. (U.S.), Apple Inc. (U.S.), Adidas AG (Germany), LG Electronics, Inc. (Republic of Korea), Motorola Mobility Holdings, Inc. (U.S.), Sony Corporation (Japan), Philips Healthcare (Amsterdam), Microsoft Corporation (U.S.), and Boston Scientific Corporation (U.S.)
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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