Worldwide Wearable Device Security Market to Touch $35.70 Billion by 2022 at a CAGR of 51.4%

Growing demand for health and fitness wearables across the globe, rise in the number of wearable device users and increased government investments drive the Worldwide Wearable Device Security Market

​​Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Worldwide Wearable Device Security Market: Drivers, Opportunities, Trends, and Forecasts, 2016–2022.”

Wearables are a relatively new technology and have witnessed enhanced usage in the last 2-3 years. The wearable electronic devices such as wristbands, eyewear, earwear and footwear provide hands-free operations, real-time data monitoring and network communication. Wearable devices are now being extensively used across many end user industries such as Healthcare, BFSI, Defence and Retail.

"The rise in the enterprise-focused wearable apps has eased workload handling. However, increased risk of breaches of sensitive data is now witnessed as data can easily be transferred through these devices. Organizations should have security policies in place to ensure data safety. Wearable device security solutions provide a profitable opportunity to modern enterprises to improve their workflow, better resource management, and to improve communications."

Jaydeep Bhattacharjee, Group Head at Infoholic Research

The growing Bring Your Own Device (BYOD) trend at the workplace is posing a considerable security threat to the enterprises. The wide adoption of wearable devices across many industries also brings along with it security concerns. Data privacy is one such major concern. Several security software providers have entered into the market with security solutions to address this problem.

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The Worldwide Wearable Device Security Market report analyzes the market according to the devices, security types, solutions and end-users. The market is segmented and analyzed by the following devices — eyewear, wristwear, footwear, smart clothing and others. The market is analyzed by the following security types — Network Security, Cloud Security, Wireless Security, Application Security and others.

The Worldwide Wearable Device Security Market is analyzed by the following solutions — Role Based Access Control (RBAC), Risk & Vulnerability Management, DDoS Mitigation, Intrusion Detection and Intrusion Prevention Systems, and others.

The major end user verticals are Healthcare, BFSI, Retail, Sports Industry and others.

The market is analyzed by the following regions — Americas, Western Europe, Asia-Pacific and Eastern Europe, Middle East and Africa (EEMEA). Americas is leading the overall wearable device security market followed by Asia Pacific. The healthcare, BFSI and fitness industries are supporting the growth of the wearable device security market in Americas. Each region is further segmented by countries and security types.

The major vendors in the market are Fitbit, Apple, Google, Garmin, Nike, Microsoft, HP, CrowdOptic, BotFactory, ODG, Biovotion and Innovega.

“The rise in the enterprise-focused wearable apps has eased workload handling. However, increased risk of breaches of sensitive data is now witnessed as data can easily be transferred through these devices. Organizations should have security policies in place to ensure data safety. Wearable device security solutions provide a profitable opportunity to modern enterprises to improve their workflow, better resource management, and to improve communications,” says Jaydeep Bhattacharjee, Group Head at Infoholic Research.

The growing number of wearable device users at the workplace is creating a potential threat to enterprise data. With the wearable device, it is relatively easy to enter the enterprise wireless network and tamper with data. Even from the consumer perspective, security of the wearable devices is a key concern, as users’ information can be easily stolen by accessing the device through short-range technologies like Bluetooth. Hence, this market offers a huge growth opportunity for the data security solution providers.

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Report Highlights

  • The report covers drivers, restraints, & opportunities impacting market growth during the forecast period
  • The report not just highlights users’ conundrums (challenges and barriers to adopting cloud firewall management market) but also brings in their perspective on the market
  • It provided in-depth analysis of end users by security types, regions and countries, analysis of devices, security types and solutions, analysis of regions by security types and countries
  • The report also gives information related to latest industry and market trends, key stakeholders, industry pest analysis and competitive landscape

Press and Media Contacts

Bhaskar Jyoti Nath​
​Infoholic Research LLP
+91 8867685927, +91 8971243001​
​bhaskar@infoholicresearch.com

Source: Infoholic Research

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