The global wearable device security market is predicted to grow at remarkable CAGR over the forecast period (2018 to 2022), according to a report available on Radiant Insights, Inc. Growing need for advanced portable devices among consumers is estimated to propel demand for wearable device security. Advanced security solutions available in different wearable devices can prevent loss of personal and financial information linked to consumers.
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Most wearable devices can be connected to internet to share data using various social media platforms and applications. Lack of encryption technology in these wearable devices is likely to gain traction among cyber criminals. Cyber attackers can easily hack these devices and gather important information related to consumers. This, in turn can surge demand for advanced security solution in all kinds of wearable devices. In addition, increasing use of wearable devices by connecting them to mobile phones to access information generated by that device can fuel growth. Connecting of wearable device with mobile phone can further create entry point for cyber attackers. Thereby, pushing manufacturing companies to focus on security of all kinds of wearable devices. Growing adoption of cloud-based storage by manufacturing companies of wearable devices can further create vulnerabilities. Consumers are likely to store their confidential data to cloud storage while using their wearable devices. Cyber criminals can easily gain access to this data by intruding into cloud storage. Increasing cases of data breaches globally can fuel growth of market over the forecast period (2018 to 2022).
To cater to rising demand, most companies are predicted to invest in R&D activities to develop advanced security solutions for wearable devices. For instance, Apple watch is expected to be equipped with advanced Bluetooth privacy protections. The device is likely to change MAC address regularly through its advanced Bluetooth radio. It can be accomplished by BLE feature, also known as LE privacy. It can help in tracking moments of individual users when their fitness bands are not actively paired with device. In addition, users can also restrict information generated by heart rate monitor available in Apple watch owing to data security concerns. They can go to motion and fitness option menu under settings of Apple watch application on their iphone to activate data privacy.
The wearable device security market can be segregated on the basis of application and region. Based on application, the market can be categorized into body wear, wrist wear, and headwear.
Full Research Report On Global Wearable Device Security Market Analysis available at: https://www.radiantinsights.com/research/global-wearable-device-security-market-2018-2022
Regional segmentation incudes Asia Pacific (APAC), Americas, and Europe, Middle East & Africa (EMEA). Americas wearable device security market is expected to be the largest market for wearable device security. The region is likely to dominate the market with similar pace during the forecast period. Rising demand for various wearable devices among consumers living in North America is expected to augment growth of market in the region. These devices can be used to monitor body temperature, calories burned, and heart rate. All such features available in wearable devices are likely to gain traction among consumers.
In Europe, the wearable device security market is assumed to grow well during the forecast period owing to continual reduction in prices of wearable devices. Growing adoption of wearable devices among local residents is expected to reduce their price. Growing demand for wearable devices can attract more consumers to purchase them at affordable prices and fuel growth of market in next few years.
Some of the leading companies offering wearable device security are Apple, Microsoft, Hewlett Packard Enterprise, Symantec, and Alphabet.
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