The
report states that the global wearable technology market, which
valued nearly USD 750.0 million in 2012, is expected to rise with a
CAGR of 40.8% during the forecast period of the report, i.e. between
2012 and 2018, and rise to a value worth USD 5.8 billion by 2018.
North America, the current leaders of the market, could also top the
market by the end of the forecast period, garnering an expected 43.0%
share of the global wearable technology market.
Browse the full
report at Wearable Technology Market -
http://www.transparencymarketresearch.com/wearable-technology.html
Wearable
technology or wearable electronics refer to the electronic devices
that are incorporated with items of daily wearing, such as clothes,
jewelleries or accessories, and can be easily worn on the body.
Wearable
technology is still in its nascent stages and finds its major
applications in the fields of medicine, wellness and fitness,
military forces and infotainment (information fused with
entertainment).
Common
wearable devices in the wellness and fitness segments include
activity monitors, sleep sensors and smart clothing. The infotainment
segment includes products such as smart glasses, smart watches, etc.
The healthcare segment is flourished with products such as smart
monitoring devices such as continuous glucose monitoring devices,
implantable devices for timely drug delivery and wearable patches.
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According
to the report, the end-user segment of healthcare and medicine
garnered the largest amounts of revenues for this market in 2012 and
accounted for an estimated 35.1% of its shares. This was followed by
the segment of wellness and fitness.
By
2018, however, it is expected that the segment of infotainment will
surpass the market shares of the wellness and fitness segment owing
to the robust growth in products such as smart watches and smart
glasses. By the end of the forecast period, the healthcare and
medicines segment could continue to lead the market due to the rising
numbers of aged population and a rise in the overall cases of
diabetes in the world.
Browse Press
Release Global Wearable
Technology Market
http://www.transparencymarketresearch.com/pressrelease/wearable-technology.htm
Factors
such as compactness, portability, multi-functionality, rising areas
of application and increasing adoption of these technologies by the
end users are driving the growth of this industry. The rising
popularity of technically advanced devices amongst the young
generation and the rising demand for real time and readily actionable
data are also fuelling demands of the market.
High
adoption rates and good consumer awareness about wearable technology
have rendered the region of North America as the leader of the global
wearable technology market. In 2012, it was estimated that this
region contributed nearly 2/5th of the total global revenues garnered
by this industry. This region is expected to face tough competition
from Europe and Asia Pacific regions, which, according to the report,
would have shares of about 49% of this market by 2018.
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Technology & Media Market Research Reports@
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