Smart Research Insights
Wearable Technology refers to a broad categorization for a market that today largely contains wrist-based devices. Other gadgets include Smartglasses and Visual-Based wearables. Currently, the market is in its nascent stage globally, while there was an initial excitement around the category, recently, sales are slowing across device categories. All major players have reported a softening in demand. It is expected that the wearable technology market will grow at a CAGR of 18.9% through 2021 to reach USD 71.23 billion as compared with USD 29.92 billion in 2016.
China has a growing middle class with increasing disposable income. This coupled with the health and fitness boom is driving the wearable technology market in the country. It is projected that the fitness and sports business in China will be worth USD 800 billion by 2025.Currently, the population seems to be satisfied with reasonable priced low end wearable tech devices to satisfy their craze for health, wellbeing and fitness.There is room to move out of the fitness and medical market into a more mainstream consumer space. There is a lot of variability in the type and number of alerts consumers expect from their device, which leaves room for customization of devices. The more they can personalize their devices, the higher engagement a consumer feels with the wearable gadget.
Our analysts believe that the outlook for the global wearable technology is moderate while the outlook for China’s wearable technology market is bright. Companies need to come up with more innovative offerings for customers while keeping the costs down to generate interest. However, technology trends are difficult to predict and their might be a scenario where people get over their negative perceptions for the gadgets and demand picks up.
Why should the report be purchased?
The report ""Studying the Global & China's Wearable Technology Market 2017” highlights key dynamics ofthe global and China's wearable technology market. The growing opportunity in the sector has been investigated. The initiatives and performance of key players including China Resources, Tsingtao Brewery Co., Ltd., Anheuser-Busch InBev, Beijing Yanjing Brewery and Carlsberg along have also been examined. The report contains latest industry stakeholder’sopinions.
Research methodology and delivery time
Smart Research Insights has conducted in depth secondary research to arrive at key insights. Data collected from key public industry sources and publications has been scanned and analyzed impartially to present a clear picture of the industry. All recent developments which impact the sector dynamics have been captured and used to support the research hypothesis.
The report is available as single-site single-user license. The delivery time for the electronic version of the report is 3 business days as each copy undergoes thorough quality check and is updated with the most recent information available. The dispatch time for hard copies is approximately 4 business days, as each hard copy is custom printed for the client
About Smart Research Insights (SRI)
SRI is a research organization specializing in industry research reports and custom research. Our team of dedicated researchers with rich experience across industry segments focuses on delivering high quality analysis. Undertaking in-depth secondary research we arrive at key insights, which are supported by data that has been analyzed impartially to present a clear picture of the industry. All recent developments and industry opinions which impact the sector dynamics are captured and used to support the research hypothesis.