Global Wearable Product Market Worth $94 Billion by 2024
The Global wearable product market is poised to grow at a staggering CAGR from 2014 to 2024.
May 20, 2014 (Newswire.com) -
"Global Wearable Product Market Analysis & Forecast (2014-2024)" is an exhaustive 257 page report with over 59 market data tables and 79 figures providing an in-depth analysis of the wearable product market. The report also presents a comprehensive geographical analysis of the wearable market along with key trends in the electronic components market, mapped across each product segments.
Wearable Technology has been around us for decades, but the revolutionary application areas of the technology have surfaced only recently. With an explosive growth in the demand for wearables in the past two years, wearable devices are expected to have a similar growth chart as smartphones and tablets. Evidently, market giants from a host of industry verticals as well as dedicated start-ups are venturing into the wearable market. The component and software requirements have also prompted semiconductor and software companies to participate in the increasingly competitive wearable market.
The report from BIS Research covers more than 100 market players and over 200 products contributing at different levels of the value chain in the wearable product market. The report is a culmination of more than 30 interviews with key industry players and an exhaustive consultation with in-house subject matter experts. The report has been completed with a thorough understanding of the entire ecosystem, incorporating key market drivers, challenges, and opportunities for the current and forecast years. The key market trends have also been identified in the report, providing the market statistics both in terms of value and volume.
The report has segmented the wearable products primarily into three categories: hand worn, head worn and body worn products. These segments are further divided into leading product types such as smartwatches, wrist bands, smartglasses, HMD/HUDs, and smart textiles. Apart from an extensive insight in the wearable product market, the report also contains detailed Porter's analysis, PESTEL analysis, and value chain analysis.
The global wearable product market has been valued at over $1.7 billion in 2013 and is expected to grow over $94 billion by 2024, with a promising CAGR of 39.11% from 2014 to 2024. The report provides separate market statistics for smartwatches, wristbands, smartglasses, HMD/HUDs, and body worn products.
With a meticulous approach, the market study has identified North America as the leading region in the global wearable product market accounting for almost 46% of the net revenue generated by all the wearable products, and is expected to continue with its dominance during the forecast period as well. However, the APAC region is likely to grow at the highest CAGR during the same time. EMEA is also expected to be a promising market with explosive demands expected from the U.K., Germany and other European nations.
The report profiles over 25 players from diversified industry verticals in the wearable technology ecosystem with a detailed section of the competitive landscape of the market. This section includes an exhaustive competitive benchmarking segment providing an estimate of the company's impact and development in the market. The market is witnessing a series of partnerships, acquisitions, and new product launches across the value chain.
Some of the key players in the wearable electronics market include Adidas AG (Germany), Google, Inc. (U.S.), Jawbone, Inc. (U.S.), Nike, Inc. (U.S.), Olympus Corporation (U.S.), Vuzix Corporation (U.S.), Weartech (Spain), E Ink Corporation (U.S.), InvenSense (U.S.), and HZO Inc. (U.S.) among others.
About BIS Research
BIS Research (Business Intelligence and Strategy Research) is a global cutting edge technology research and advisory company which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market. Our company publishes in-depth global market intelligence reports across different industry verticals-Electronics, Semiconductor, Telecom, Information Technology, Automotive, Medical Devices, and other emerging technologies.
BIS Research follows a robust, rigorous, and proven methodology which collates and converges insightful pieces and information from primary and secondary research and proprietary databases along with high quality analysis from market experts and key opinion leaders. Each research study incorporates detailed analysis and subsequent quantification of market dynamics, market drivers and restraints, opportunities, threats, market shares, current and emerging industry trends as well as detailed competitive landscape and intelligence.
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