Smart wellness market is estimated to exhibit high growth potential during the forecast period owing to increasing demand for smart wellness applications across various industry verticals. Additionally, innovations and advancements in technology and increasing market for smart wellness owing to the increasing need for smart wellness and well-being. The growth of digitization is another major factor driving the growth of smart wellness market.
The global smart wellness market is segmented by component, type, connectivity, and end user. Based on the type, smart wellness market is segmented into healthcare IT, healthcare information exchange and healthcare analytics. Among these, healthcare IT has accounted for a larger market share in the global Smart Wellness Market in 2017. Whereas, healthcare analytics is the fastest growing sub-segment with a CAGR of 25.4%. Additionally, with advancement in smart technologies, the market for smart wellness will continue to rise. However, the lack of awareness regarding smart wellness and high costs of the technology, in general, could significantly hinder the growth of global smart wellness market.
According to the analysis of Market Research Future, the global smart wellness marketis estimated to generate a revenue of approximately USD 520 billion by 2023 growing at a CAGR of 24.46% during the forecast period 2017-2023.
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Major Key Players:
- Apple, Inc. (U.S.)
- Samsung Electronics (South Korea)
- Omron Healthcare, Inc. (Japan)
- McKesson Corporation (U.S.)
- Philips Healthcare Company (the Netherlands)
- GE Healthcare, Inc. (U.S.)
- Draeger Medical Systems, Inc. (Germany)
- Fitbit, Inc. (U.S.)
- St. Jude Medical, Inc. (U.S.)
- Medtronic PLC (U.S.)
The global smart wellness market is segmented on the basis of the component, type, connectivity, and end user. The connectivity segment is classified into Bluetooth, wi-fi and others. However, the Bluetooth sub-segment is expected to hold the largest market share of the global smart wellness market during the forecast period.
This is owing to the increasing popularity of Bluetooth applications in order to connect two devices in the same room. Also, growing popularity of internet of things plays a major role in the growth of smart wellness market.
- By component, hardware sub-segment is expected to hold the largest share of the smart wellness market and is expected to grow with 24.82% CAGR.
- By type, healthcare IT sub-segment leads with a 23.75% CAGR.
- By connectivity, Bluetooth sub-segment leads with a 24.83% CAGR.
- By end user, individual users sub-segment accounted for the largest share of the smart wellness market and is expected to grow at 25.08% CAGR.
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The global smart wellness market is studied in Asia Pacific, North America, Europe, and Rest of the World. North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period.
The growth of the market in North America is attributed to technological advancements and increased adoption of smart wellness devices across various end users in the region.
- Technology Investors
- Research/Consultancy Firms
- Chip designers and fabricators
- Original equipment manufacturers (OEMs)
- Healthcare Solution Providers
- Technology Providers
- Individual Users
- Healthcare Institutions and Clinics
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
List of Table
Table 1 Global Smart Wellness Market, By Component, 2017-2023 (Usd Billion)
Table 2 Global Smart Wellness Market, By Hardware, 2017-2023 (Usd Billion)
Table 3 Global Smart Wellness Market, By Personal Medical Devices, 2017-2023 (Usd Billion)
Table 4 Global Smart Wellness Market, By Wellness Products, 2017-2023 (Usd Billion)
Table 5 Global Smart Wellness Market, By Software, 2017-2023 (Usd Billion)
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List of Figure
Figure 1 Top Down & Bottom Up Approach
Figure 2 Forecast Model
Figure 3 Dro Of Global Smart Wellness Market
Figure 4 Supply Chain Analysis
Figure 5 Porter’s Five Forces Analysis of Global Smart Wellness Market
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