Market reports associated with the healthcare sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The market is set to achieve a positive CAGR while earning high levels of revenue in the duration of the forecast period.
The growing incidence of diseases that require constant tracking along with the development of technology and intensifying demand from the user segment has contributed to the development of wearable tracking devices.
Apart from the primary function of tracking vitals of the individuals, the wearable tracking devices in healthcare also feature the ability to geo-track individuals accurately. The devices capture information throughout the day hence ensuring a much comprehensive overall view of an individual’s health. The younger demographics inclination towards health and fitness is driving the sales of these devices effectively.
As the products of this market are gathering momentum in terms of growth, manufacturers are constantly adding new features to increase the appeal of these products. Certain factors such as the growing occurrence of cardiovascular diseases, increasing obesity rates, development of fitness consciousness and increasing demand for refined technological devices are projected to drive the progress of the market considerably in the duration of the forecast period.
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Global Wearable Tracking Devices Market – Major Vendors
Some of the major market players are
- Adidas (Germany)
- Gramin Ltd (Switzerland)
- Apple Inc (US)
- Pebbel Technology Corp (US)
- Samsung Electronics Co Ltd (South Korea)
- Sony (Japan)
- Fitbit, Inc. (US)
- Google Inc. (US)
- Xiaomi Technology Co., Ltd. (China)
Industry Trend:
July 2018 Tommy Hilfiger’s has launched a fresh use for wearable tech with the purpose to make a micro community of ambassadors. The brand has revealed Tommy Jeans Xplore, a collection that features a Bluetooth smart-chip implanted into each piece. The chip tracks how often the garment is being worn, providing the data in real-time to an iOS Tommy Jeans Xplore app.
Pomocup has been designed by researchers with an aim to monitor various conditions such as tour, altitude, speed, glide, grip, and leg symmetry of skiers. By using the network connection of smartphones, it transmits real-time data to the smartphone. Its target is to enhance the performance of skiers by analyzing movements minutely.
Bonbouton wearable device uses graphene sensors to monitor physiological signals which can be used later to predict potential injuries, detect infection and monitor muscular activity. Its small size perfectly fits within clothing and allows users to move comfortably.
Global Wearable Tracking Devices Market – Segmentation
The Global Wearable Tracking Devices Market can be segmented by types, application, sales channel, and end-user.
By type, the wearable tracking devices market can be segmented into wristwear, footwear and other. The wristwear segment includes fitness bands and smartwatch.
Based on the application, the wearable tracking devices market can be segmented into healthcare, consumer electronics, and others.
Based on sales channel, the wearable tracking devices market consists online and offline.
On the basis of end-user, the wearable tracking devices market can be segmented into sportsperson, patients, and others.
Global Wearable Tracking Devices Market – Regional Outlook
The market of the wearable tracking devices is much higher in the Americas region. There is a huge population which is suffering from chronic disease such as diabetes, obesity and also better awareness of healthcare increase the demand of wearable tracking devices market in this region. The WHO estimated that diabetes leads to 1.6 million deaths in 2015 and it is the major causes of blindness, kidney failure, heart attacks, stroke, and lower limb amputation. These huge patient population drag the attention of players towards the wearable tracking devices market.
Asia Pacific and the Middle East and Africa region are considering the big market. Whereas country like India and china of Asia Pacific region are one of the fastest growing regions owing to the presence of huge population and also willing to invest in better treatment or fitness technology. Additionally, countries from this region looking forward to adopting advanced technology and treatment from developed nation in order to minimize the gap between demands and supplies of the products. Whereas the Middle East and Africa are the low market due to his incapability of investment.
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Europe is also considering the huge market for wearable tracking devices market players, owing to present of huge population affected with chronic disease. Moreover, Government support to enhance the treatment and fitness technology help them in capturing global market shares.
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