Worldwide Wearable Device Market Size was valued at USD 6.1 billion in 2016 and is anticipated to witness a steep rise by generating an estimated revenue of US$ XXXX over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of XX.XX% during the forecast period, i.e. 2017-2025.

Global Wearable Device Market Growth Opportunities (Revenue, Growth) By 2017-2025

Wearable devices are electronic technology that basically monitor or track information on real time basis. These devices work with the help of motion sensors which help in tracking day to day activity of an individual. The market comprises various types of wearable devices which includes, smart watches, fitness tracker, and sports watches.

Market Dynamics

Wearable device market was valued at USD 6.1 billion in 2016 and is expected to experience a healthy growth during the forecast period.  The rising preference of sedentary lifestyle, has increased the prevalence of lifestyle disorders such as, hypertension, blood pressure and diabetes. In these cases, the devices actively participate in the proper monitoring the real-time health data which would boost the market in the coming years. Additionally, the rising awareness for fitness, due to increasing obesity rate to boost the adoption of wearable devices such as smart bands and smart watches. Which help in monitoring fitness parameters including calories burned, footstep count, and walking distance. Moreover, these wearable devices companies offer guidance from experts who are dietician or nutrition expert, and hence, this business model is also generating hefty demand for these products. Furthermore, the increased need for these devices in the field of medicine, fitness, aging, disability, education, transportation, enterprise, finance, gaming, music, and health to also drive the market growth.

Similarly, with the rising demand the market is also supposed to face challenges in the coming years. The major challenge of the market is the sustainability of the devices, and limited battery life the devices which would hamper the market growth.

Segment Analysis 

Based on the devices type, the wearable device market is segmented as therapeutic, and diagnostic devices. Diagnostic device is the dominating segment owning to the continuous technological advancements, and its increasing penetration in the remote patient monitoring sector to also drive the market in the coming years.

On the basis of wearable site, the wearable devices market is segmented as handheld, bracelet, headband, and shoe sensors. Bracelet segment is supposed to be the largest segment in the coming years as it includes wide range of smart watches. These smart watches allow monitoring of multiple parameters such as pulse rate, respiratory rate, and physical activity coupled with Bluetooth and cloud connectivity are considered to propel growth of the wrist worn segment during the forecast period.

Application of the wearable devices include, remote patient monitoring, home healthcare, and sports & fitness. Home healthcare to be the commanding segment during the forecast period. Simplified usage of this equipment along with ability to synchronize with cellular phones as well as tablet devices to assist the growth of this segment.

Regional Analysis

North America to hold the largest market share in this industry, owning to the rising prevalence of cardiovascular disorders, diabetes, and cancer within this region. North America’s wearable device market is also driven by the continuous technology development, and increasing remote patient monitoring and home care for the purpose of regular, continuous, and long-term monitoring of patients and for reducing the frequency of hospital visits are anticipated to fuel this market growth over the forecast period.

Global Wearable Device Market Size, Share Analysis By Region 2017

Asia Pacific is supposed to be the fastest growing region during the forecast period due to its rising number of wearable device manufacturing companies is a clear indication of the anticipated growth in global wearable device market. Furthermore, presence of market players such as Intel, Micromax, Samsung, MI in Asia is also one of the significant reasons for the growth of the region during the forecast period. Middle East and Africa market gaining attraction of the investment for the companies for more scope in the regions and expected to rise healthy growth over the forecast period.

Key Players

Major players operating in global wearable device market include include Fitbit Inc., Philips Electronics, Vital Connect, Omron Corp., Sotera Wireless, Jawbone, Pebble Technology Corp., Polar Electro,  Basis Science Inc., Withings, Intelesens Ltd., Covidien Plc, LifeWatch AG, and Everist Genomics.

Global Wearable Device Market Study Objective

1. To forecast the market size of wearable device market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of wearable device market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of wearable device market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of wearable device market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the wearable device market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

7. Analysis of market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

8. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

Bottom-up and top-down are two main approaches that were taken into account to anticipate and validate the market size of wearable device market, and to reach the anticipated market size of several dependent submarkets. The research and study involved massive utilization of secondary data sources, several directories, private and government websites, and authentic databases, to collect or gather market-oriented as well as technical information for the study of wearable device market commercially.

Global Wearable Device Market Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast.

The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.

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