Albany, NY, June 15, 2016 (GLOBE NEWSWIRE) -- While wearable technology has been utilized in vertical sectors such as the military and healthcare industries for many years, ongoing advances have triggered a major resurgence of the concept, particularly among the consumer community. Key enabling technologies including low cost sensors, wireless connectivity, active materials and energy have converged to make wearable technology mainstream.
With the continued miniaturization of enabling technologies, wearable devices have hit the mass market in a diverse variety of form factors, ranging from glasses to even jewelry.
Driven by the ability to interconnect with key modern trends of healthcare, fitness, messaging and socialization, the wearable technology ecosystem is attracting significant levels of interest. Companies as varied as smartphone OEMs, mobile operators, health insurers and retailers are circling the ecosystem alongside tiny startups, all vying for a stake.
SNS Research estimates that wearable device shipments will grow at a CAGR of 29% between 2016 and 2020. By 2020, wearable devices will represent a market worth $40 Billion with over 240 Million annual unit shipments.
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The “Wearable Technology Ecosystem: 2016 - 2030 - Opportunities, Challenges, Strategies, Industry Verticals & Forecasts” report presents an in-depth assessment of the wearable technology ecosystem including key market drivers, challenges, investment potential, consumer & vertical market opportunities, use cases, future roadmap, value chain, case studies, vendor market share and strategies. The report also presents forecasts for wearable device shipments and revenue from 2016 through to 2030. The forecasts are further segmented for 7 device form factor submarkets, 7 vertical markets, 6 regions and 73 countries.
The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report.
Key Findings:
The report has the following key findings:
- SNS Research estimates that wearable device shipments will grow at a CAGR of 29% between 2016 and 2020. By 2020, wearable devices will represent a market worth $40 Billion with over 240 Million annual unit shipments.
- Leading smartphone OEMs, Apple and Samsung, are replicating their success in the OS powered smart watch arena with a combined market share of nearly 75%.
- As wearable device OEMs seek to minimize dependence on hardware sales, new business models are beginning to emerge, particularly in the enterprise space. For example, specialist vendors such as Catapult are offering subscription based services to sports teams, which combine wearable sensors, cloud-based software and analytics.
- SNS Research estimates that wearable devices will help mobile operators drive over $13 Billion in service revenue by the end of 2020, following a CAGR of nearly 32% between 2016 and 2020.
- The market is ripe for acquisitions of pure-play wearable technology startups, as competition heats up between consumer and vertical centric OEMs.
View TOC (table of content), Figures and Tables of the Report: http://www.researchmoz.us/the-wearable-technology-ecosystem-2016-2030-opportunities-challenges-strategies-industry-verticals-and-forecasts-report.html
Regional Markets
- Asia Pacific
- Eastern Europe
- Latin & Central America
- Middle East & Africa
- North America
- Western Europe
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