Wearable Technology Market 2025 Latest Trends and Developments Top Leading Key Players are Cerora, Medtronic, CuteCircuit, Eurotech, Mio Global
May 30, 2019 1:01 AM ET
According to a new market research study titled ‘Wearable Technology Market to 2025 – Global Analysis and Forecast by Product and Application’, the global wearable technology market was valued at US$ 26.19 Bn in 2015 and is estimated to reach US$ 170.91 Bn by 2025. The report highlights the trends that are prevalent in the global market and the factors that act as barrier to the growth of wearable technology market.
Growing health awareness and changing lifestyle especially in the North American, European, Asia Pacific (APAC) regions coupled with increasing technological adoptions trends is providing ample opportunities to wearable technology solution and devices providers. On the other hand, Asia-Pacific region is expected to experience a significantly high market growth due to emergence of various regional players providing innovative wearable solutions at a comparatively economical prices.
The global wearable technology market has been segmented on the basis of product into smart clothing & smart glasses, smart watches, sleep sensors, activity monitors, augmented reality (AR) headsets, continuous glucose monitor (CGM), drug delivery devices, heart rate monitors (HRMS),hand worn terminals, jewelries and wearable patches. The market is further bifurcated on the basis of application into infotainment , fitness & wellness, healthcare & medical, industrial & military, safety & security and fashion & lifestyle. Geographically, the market is segmented into North America, Asia Pacific Europe, Middle East & Africa and South America.
Currently, wearable technology devices have witnessed a significant adoption in the APAC countries. Furthermore, with growth in disposable incomes and technology adoption trends, several growing economies in regions are expected to experience high adoption of wearable technology solutions and devices. APAC currently holds the significant market share in the global wearable technology market, and is expected dominate the market during the forecast period. The region is estimated to register a growth rate of 22.6% during 2016 to 2025.
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