Market Insights

The growing emergence of IT technology in the healthcare & medical, fitness & wellness, military & defense, etc. expected to boost the demand for wearable devices in near future. These devices can be worn on the user’s body 24×7 and contain wireless connectivity, advanced circuitry, and at least a minimal level of independent processing capability. Wearable devices find promising application in multiple sector such as fitness & wellness, healthcare & medical, infotainment, enterprise & industrial, military & defense and others (sports, lifestyle, etc.). Increasing penetration of smartphones, increased preventive care, increased prevalence of chronic disease, aging population, rising awareness about health & fitness, etc. are some of the factors driving the demand for wearable devices across the globe. However, high cost of devices, durability, limited battery life, data security issues, etc. are some major factor expected to hamper the growth of wearable devices during the forecast period.

Browse the full report Global Wearable Devices Market – Growth, Future Prospects and Competitive Analysis, 2018-2026 report at  https://www.credenceresearch.com/report/wearable-devices-market

Wearable devices includes different products such as smart watches, fitness & activity tracker, smart eyewear, smart clothing, medical devices, and others (cameras, smart jewelry, ear/head phones, etc.). In 2017, Smart watches accounted for the largest share in terms of market value and unit shipments, followed by fitness & activity tracker and medical devices.  Medical devices segment expected to witness the robust CAGR between 2018 and 2026 owing to technological advances in healthcare & medical sector, growing number of pharmacies & healthcare apps compatible with wearable devices, rising trend of wireless connectivity among healthcare providers, and increasing awareness about physical fitness.

Fitness & Wellness dominated the Wearable Devices market by end-use industry in 2017. Different demographic and social trends such as higher ratio of seniors, rising increased prevalence of chronic disease, average life expectancy, and increasing proportion of patients requiring long-term care expected to supplement the demand for various wearable devices from this segment. Healthcare and Medical segment acquired over 20% market share in terms of market value in 2017.

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Wearable Devices market is segmented by distribution channel in following categories: online retailing, exclusives stores, multi-brand stores, hypermarket and pharmacies. Wherein, exclusives stores led the segment with largest share of devices sale in 2017. Based on the geography, North America is the leading region during 2017-2018 in terms of value and volume. Factors such as increasing application of remote patient monitoring and home care, aging population, presence of affluent millennial generation, increasing number of professional athletes, and clinical and military research mainly in U.S. propelling the growth of wearable devices in the region. While, Asia-Pacific is identified as the fastest growing owing to population with rising disposable income, rapid economic growth, and increasing expenditure into healthcare sector and defense sector.

With a strong presence in smart watch market, Apple Inc. seized the leader position in wearable devices market in 2017, whereas Fitbit and Xiaomi closely follows the Apple Inc. in terms of unit shipment market share during 2017-2018. Apple Inc. expected to dominate the wearable devices market in near future due to surge in smart watch shipment across the globe. Key manufacturers of wearable devices operating in the market include Apple, Samsung, LG, Fitbit, MI, Nike, Flex, Sony, Garmin, Huawei, Eurotech, Abbot, and Medtronic among others.

ToC:

Chapter 1 Preface 14
1.1 Report Scope and Description 14
1.1.1 Study Purpose 14
1.1.2 Target Audience 14
1.1.3 USP and Key Offerings 14
1.2 Research Scope 15
1.3 Research Methodology 16
1.3.1 Phase I – Secondary Research 16
1.3.2 Phase II – Primary Research 17
1.3.3 Phase III – Expert Panel Review 17
1.3.4 Approach Adopted 17
1.3.5 Top-Down Approach 18
1.3.6 Bottom-Up Approach 18
1.3.7 Assumptions 19
1.4 Market Segmentation 19

Chapter 2 Executive Summary 20
2.1 Market Snapshot: Global Wearable Devices Market 21
2.1.1 Global Wearable Devices Market, by Type, 2017 (Mn Units) (US$ Bn) 23
2.1.2 Global Wearable Devices Market, by End-use Industries, 2017 (Mn Units) (US$ Bn) 23
2.1.3 Global Wearable Devices Market, by Distribution Channel, 2017 (Mn Units) (US$ Bn) 24
2.1.4 Global Wearable Devices Market, by Geography, 2017 (Mn Units) (US$ Bn) 24

Chapter 3 Market Dynamics 25
3.1 Introduction 25
3.2 Market Dynamics 26
3.2.1 Market Drivers 26
3.2.1.1 Rising Adoption of Electronics in Asia-Pacific 26
3.2.1.2 Driver 2 27
3.2.2 Challenges 28
3.2.2.1 Challenge 1 28
3.2.2.2 Challenge 2 29
3.2.3 Opportunities 30
3.2.3.1 Opportunity 1 30
3.2.3.2 Opportunity 2 31
3.3 Attractive Investment Proposition, by Geography, 2017 32
3.4 Competitive Landscape: Market Positioning of Key Players, 2017 33

Chapter 4 Global Wearable Devices Market, by Product Type 34
4.1 Overview 34
4.1.1 Global Wearable Devices Market Value Share, by Product Type, 2017 & 2026 (Value, %) 35
4.1.2 Global Wearable Devices Market, by Product Type, 2016 – 2026 (Mn Units) (US$ Bn) 35
4.2 Smart Watches 37
4.2.1 Global Wearable Devices Market, by Smart Watches, 2016 – 2026 (Mn Units) (US$ Bn) 37
4.3 Fitness & Activity Tracker 38
4.3.1 Global Wearable Devices Market, by Fitness & Activity Tracker, 2016 – 2026 (Mn Units) (US$ Bn) 38
4.4 Smart Eyewear 39
4.4.1 Global Wearable Devices Market, by Smart Eyewear, 2016 – 2026 (Mn Units) (US$ Bn) 39
4.5 Smart Clothing 40
4.5.1 Global Wearable Devices Market, by Smart Clothing, 2016 – 2026 (Mn Units) (US$ Bn) 40
4.6 Medical Devices 41
4.6.1 Global Wearable Devices Market, by Medical Devices, 2016 – 2026 (Mn Units) (US$ Bn) 41
4.7 Others 42
4.7.1 Global Wearable Devices Market, by Others, 2016 – 2026 (Mn Units) (US$ Bn) 42

……..toc continued

“Wearable devices are currently at the heart of just about every discussion related to the Internet of Things. The requirement for self-health monitoring and preventive medicine is increasing due to the projected dramatic increase in the number of elderly people until 2020. Developed technologies are truly able to reduce the overall costs for prevention and monitoring. This is possible by constantly monitoring health indicators in various areas, and in particular, wearable devices are considered to carry this task out. These wearable devices and mobile apps now have been integrated with telemedicine and telehealth efficiently, to structure the medical Internet of Things. This paper reviews wearable health care devices both in scientific papers and commercial efforts.- ncbi.nlm.nih.gov”