Pune, Maharashtra -- (ReleaseWire) -- 02/06/2017 --Market Reports Center announces a new research-based report on The Wearable Technology Ecosystem 2016-2030 to their suite. This professional and in-depth research report covers opportunities, challenges, strategies, investment potential, consumer and vertical market opportunities, future roadmap, case studies, value chain, vendor market share and strategy, industry verticals and forecasts. The report covers an overview of the wearable technology market with the analysis of various factors influencing the market growth during the projected time frame features.
The advent of technological development including low-cost sensors, active materials and wireless connectivity, the market for wearable devices has witnessed a significant shift. The majority of end-use industries are looking forward to wearable devices to be a focus for the mass market. The report shows that proliferation of smartphone usage and development in enabling technologies and components have furthered the growth of the market.
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Growing focus on human-centric assistance together with the meaningful analytics and tracking is likely to buttress the wearable technology ecosystem further. Increased investments from corporate houses and venture capitalists and growth in endorsements by leading mobile OEMs are also anticipated to support the development of advanced wearable devices. Security and privacy concerns and high prices of wearable devices are the factors likely to hinder the growth of the global wearable technology market to an extent. New business models are emerging, as wearable device OEMs look for minimizing their dependence on hardware sales.
The report studies the use of wearable devices across various sectors to explore and project the future growth prospects. The wearable technology is being expansively applied in the consumer market, for targeted and accurate marketing, infotainment and lifestyle, pet care, child care, gaming, casual sports and fitness, helping people with disabilities, and car insurance claims.
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Demand for wearable technology is projected to exhibit significant growth in the healthcare sector. The wearable technology can be implemented in various applications including remote patient monitoring, assisted patient examination, lowering healthcare costs, improving medical R&D, and optimizing health insurance costs. Moreover, the technology finds applications across various verticals including the hospitality and retail sector, public safety, professional sports, military, financial services, education, mining, as well as security and authentication.
The report features the present scenario of the wearable technology ecosystem across major geographic segments Asia Pacific, Eastern Europe, Latin & Central America, Middle East & Africa, North America and Western Europe along with an analysis of 73 country level markets for the demand of wearable devices across each of these regions.
The report covers the competitive landscape of the market with the profiles some of the major participants in the wearable technology market along with the analysis of the main market trends and business strategies.
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The report also estimates wearable device shipments and revenue forecast for the anticipated period. The wearable device shipments are expected to witness growth at a CAGR of 29% by 2030. The wearable devices are likely to be accounted worth $40 Billion with more than 240 Million annual unit shipments over the projected time frame. The report also estimates that wearable devices will help mobile operators drive over $13 Billion in service revenue by the end of 2030, following a CAGR of nearly 32% between 2016 and 2030
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