Wearable Technology Ecosystem to be Driven by Increasing Usage of Smartphones

Published Date : Jul 05, 2016

ALBANY, NY, July 05, 2016MarketResearchReports.biz has added a new research report on the worldwide wearable technology ecosystem to its repository. The report, titled “The Wearable Technology Ecosystem: 2016-2030 - Opportunities, Challenges, Strategies, Industry Verticals And Forecasts,” offers an overview of the wearable technology market and analyzes the various factors influencing the market’s growth during the period between 2016 and 2030. The usage of wearable devices across various sectors has been studied to project the future growth opportunities. The report studies the wearable technology ecosystem across some of the key regions and profiles a number of players operating in the market.

Due to the emergence of technological advancements such as wireless connectivity and low cost sensors, the market for wearable devices has undergone a remarkable shift. A number of end-use industries are increasingly relying on wearable devices to attract the mass market. The report states that the growing usage of smartphones and advancements in enabling technologies and components have fuelled the growth of the global wearable technology market.

The introduction of meaningful analytics and tracking, coupled with the growing focus on human-centric assistance, will further support the wearable technology ecosystem. Rise in endorsements by major mobile OEMs and increased investments from venture capitalists and corporate houses are also expected to aid the development of advanced wearable devices. However, the high costs of wearable devices, coupled with privacy and security concerns, might prove hamper the growth of the market to an extent.

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The report studies the wearable technology ecosystem across various sectors. In the consumer market, wearable technology is being extensively used for infotainment and lifestyle, casual sports and fitness, pet care, gaming, child care, car insurance claims, helping people with disabilities, and accurate and targeted marketing.

Demand for wearable technology is expected to increase considerably in  the healthcare sector. Assisted patient examination, remote patient monitoring, optimizing health insurance costs, reducing healthcare costs, and enhancing medical research and development are some of the major applications where the wearable technology can be implemented. Furthermore, the technology finds applications across the retail and hospitality sector, professional sports, public safety, military, and other verticals including education, financial services, mining, and security and authentication.

The report studies the present scenario of the wearable technology ecosystem across Asia Pacific, North America, Western Europe, Eastern Europe, the Middle East and Africa, and Latin and Central America. It analyzes the demand for wearable devices across each of these regions.

Analyzing the competitive landscape, the report profiles some of the key players in the wearable technology market such as 3L Labs, Acer, Active Mind Technology, Amazon, Adidas, Apple, ARM Holdings, Arrow Technologies, Arc Wearables, BAE Systems, Baidu, Biosensics, Blocks Wearables, Atlas Wearables, Broadcom, Citizen, Boston Scientific Corporation, Casio, Dialog Semiconductor, Dreamtrap Commercials, EuroTech, Dell, DIGICare Technology, FitBit, Filip Technologies, Fossil Group, and others.

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