Press release
Global The Wearable Technology Ecosystem Market Size, Share - Industry Trend and Forecast 2016 - 2024
While wearable technology has been utilized in vertical sectors such as the military and healthcare industries for many years, ongoing advances have triggered a major resurgence of the concept, particularly among the consumer community. Key enabling technologies including low cost sensors, wireless connectivity, active materials and energy have converged to make wearable technology mainstream.
With the continued miniaturization of enabling technologies, wearable devices have hit the mass market in a diverse variety of form factors, ranging from glasses to even jewelry.
Driven by the ability to interconnect with key modern trends of healthcare, fitness, messaging and socialization, the wearable technology ecosystem is attracting significant levels of interest. Companies as varied as smartphone OEMs, mobile operators, health insurers and retailers are circling the ecosystem alongside tiny startups, all vying for a stake.
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SNS Research estimates that wearable device shipments will grow at a CAGR of 29% between 2016 and 2020. By 2020, wearable devices will represent a market worth $40 Billion with over 240 Million annual unit shipments.
The “Wearable Technology Ecosystem: 2016 - 2030 - Opportunities, Challenges, Strategies, Industry Verticals & Forecasts” report presents an in-depth assessment of the wearable technology ecosystem including key market drivers, challenges, investment potential, consumer & vertical market opportunities, use cases, future roadmap, value chain, case studies, vendor market share and strategies. The report also presents forecasts for wearable device shipments and revenue from 2016 through to 2030. The forecasts are further segmented for 7 device form factor submarkets, 7 vertical markets, 6 regions and 73 countries.
The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report.
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Key Findings:
The report has the following key findings:
SNS Research estimates that wearable device shipments will grow at a CAGR of 29% between 2016 and 2020. By 2020, wearable devices will represent a market worth $40 Billion with over 240 Million annual unit shipments.
Leading smartphone OEMs, Apple and Samsung, are replicating their success in the OS powered smart watch arena with a combined market share of nearly 75%.
As wearable device OEMs seek to minimize dependence on hardware sales, new business models are beginning to emerge, particularly in the enterprise space. For example, specialist vendors such as Catapult are offering subscription based services to sports teams, which combine wearable sensors, cloud-based software and analytics.
SNS Research estimates that wearable devices will help mobile operators drive over $13 Billion in service revenue by the end of 2020, following a CAGR of nearly 32% between 2016 and 2020.
The market is ripe for acquisitions of pure-play wearable technology startups, as competition heats up between consumer and vertical centric OEMs.
Topics Covered:
The report covers the following topics:
Wearable technology ecosystem
Market drivers and barriers
Enabling technologies and operating systems for wearable devices
Standardization and regulation landscape
Wearable technology industry roadmap and value chain
Assessment of vertical market opportunities and use cases for consumer, healthcare, professional sports, retail & hospitality, military, public safety and 8 other verticals
Case studies of wearable technology deployments
Company profiles and strategies of over 440 wearable technology ecosystem players
Wearable device vendor market share
Prospects of smartphone OEMs and wireless chipset suppliers in the wearable technology ecosystem
Impact of 5G, NB-IoT and LTE Direct on wearable technology
Strategic recommendations for enabling technology providers, wearable device OEMs, vertical market players, application developers and mobile operators
Market analysis and forecasts from 2016 till 2030
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Forecast Segmentation:
Market forecasts are provided for each of the following submarkets and their categories:
Vertical Submarkets
Consumer
Healthcare
Professional Sports
Retail & Hospitality
Military
Public Safety
Others
Form Factor Submarkets
Smart Bands
Smart Watches
Smart Glasses
Smart Clothing
Smart Jewelry
Heads-up Displays
Others
Regional Markets
Asia Pacific
Eastern Europe
Latin & Central America
Middle East & Africa
North America
Western Europe
Country Markets
73 Country level markets: Algeria, Argentina, Australia, Austria, Bangladesh, Belarus, Belgium, Bolivia, Bosnia & Herzegovina, Brazil, Bulgaria, Canada, Chile, China, Colombia, Croatia, Czech Republic, Denmark, Ecuador, Egypt, Finland, France, Germany, Greece, Hong Kong, Hungary, India, Indonesia, Ireland, Israel, Italy, Japan, Kenya, Luxembourg, Malaysia, Mexico, Morocco, Netherlands, New Zealand, Nigeria, Norway, Pakistan, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Serbia, Singapore, Slovakia, South Africa, South Korea, Spain, Sudan, Sweden, Switzerland, Taiwan, Tanzania, Thailand, Tunisia, Turkey, UAE, UK, Ukraine, Uruguay, USA, Uzbekistan, Venezuela and Vietnam
Key Questions Answered:
The report provides answers to the following key questions:
How big is the wearable technology ecosystem?
How is the ecosystem evolving by segment and region?
What will the market size be in 2020 and at what rate will it grow?
What trends, challenges and barriers are influencing its growth?
Who are the key wearable device vendors and what are their strategies?
How much are vertical enterprises investing in wearable devices?
What opportunities exist for wireless chipset suppliers in the wearable technology ecosystem?
How can mobile operators capitalize on the growing popularity of smart watches, fitness bands, smart glasses and other wearable devices?
Which countries, regions and verticals will see the highest percentage of wearable device shipments?
Which sports category will see the highest level of wearable technology integration?
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