While wearable technology has been utilized in vertical sectors such as the military and healthcare 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, wireless carriers, health insurers and retailers are circling the ecosystem alongside tiny startups, all vying for a stake.
SNS Research estimates that by 2016, wearable device shipments will surpass 140 Million and will account for nearly $30 Billion in revenue. The market is further expected to grow at a CAGR of 30 percent over the next five years.
The "Wearable Technology Ecosystem: 2015 – 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 2015 through to 2030. The forecasts are further segmented for 7 device form factor submarkets, 7 vertical markets, 6 regions and 73 countries.
The report has the following key findings:
- By 2016, wearable device OEMs will pocket nearly $30 Billion from device shipment revenues
- SNS Research estimates that fitness and sports centric wearable device shipments are expected to grow at a CAGR of 28 percent over the next 5 years, eventually accounting for 80 Million device shipments by the end of 2020
- Wireless carriers are increasingly integrating wearable devices within their M2M and IoT strategies
- Wearable devices will help wireless carriers drive over $71 Billion in additional service revenue by the end of 2020, following a CAGR of nearly 80 percent between 2015 and 2020
- The wearable applications ecosystem will account for nearly $2 Billion in revenue by the end of 2016
- Driven by ongoing innovation and crowdfunding campaigns, SNS Research estimates that investors will pour over $1 Billion into wearable technology startups in 2015
- The market is ripe for acquisitions of pure-play wearable technology startups, as competition heats up between consumer and vertical centric OEMs
- Nearly 50 percent of all wearable devices shipped in 2020 will support embedded cellular connectivity. This represents a $1.1 Billion opportunity for wireless chipset suppliers
Download the full report: https://www.reportbuyer.com/product/2912607/
