The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Wearable Computing Market Size. The growth sectors of the Wearable Computing Market Size are identified with precision for a better growth perspective.
Wearable computing is technological trend which is increasingly creating an impact in daily life. These devices are embedded into clothes, glasses, watches and shoes. Going further, these devices are useful to click the pictures and is anticipated to be able to upload on social networking sites. However, technical expertise and utilization of technology on a large scale is expected to be a major concern for the wearable computing market over the review period.
The wearable computing market is bifurcated as technology, product, and end user. By technology, wearable computing is divided into display technologies, networking technologies, computing technologies and other technologies. The display technologies sub segment comprises augmented reality and virtual reality. Additionally, the networking technologies is classified into Wi-Fi and Bluetooth. Based on product, the wearable computing is further sub categorized into smart clothing & textiles, activity monitoring device, wearable camera and virtual reality eyewear. Lastly, the end user segment includes defense & security, home automation, medical & healthcare, enterprise & industrial, fitness &wellness, infotainment, gaming and other applications.
Some of the key players of Wearable Computing market include Nike Inc. (U.S.), Pebble Technology Corporation (U.S.), Valve Corporation (U.S.), Zephyr Technology Corporation (U.S.), Samsung Electronics Co., Ltd (Republic of Korea), Smartlife Technology Ltd (Manchester), Fitbit Inc. (U.S.), Apple Inc. (U.S.), Adidas AG (Germany), LG Electronics, Inc. (Republic of Korea), Motorola Mobility Holdings, Inc. (U.S.), Sony Corporation (Japan), Philips Healthcare (Amsterdam), Microsoft Corporation (U.S.), and Boston Scientific Corporation (U.S.)
Geographically, the wearable computing are categorized into four different regions such as North America, Asia Pacific, Europe and the Rest of the World.
North America is expected to be a prominent region in the wearable computing market over forecast period. The U.S. and Canada are the leading countries in the region owing to increasing awareness and rising popularity among the people about wearable technology. However, the U.S has a highly advanced technological infrastructure which has made them early adopters of technology. In the light of these factors, the wearable computing market is anticipated to be driven over the review period 2017-2023. Europe is also estimated to have a significant growth in the wearable computing market over the next few years. The countries such as Germany, France and the U.K are the leading countries in the region owing to growing number of wearable device manufacturer in the European region.
Owing to, rise in awareness of wearable technology in medical and health segment, Asia Pacific region is expected to have a substantial growth over the forecast period 2017-2023.
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