Wearable computing is a kind of computing in which the user wears the computing device on the body in the form of clothing or any other wearable aid. Wearable computers are incorporated with special sensors such as accelerometers, thermometer, and heart rate monitors which provides real-time data for monitoring health.

Increasing adoption of smart watches and wristbands in consumer electronics sector is one of the major factors driving growth of the market

The increasing adoption of smart watches and wristbands among consumers is one of the major factors driving growth of the wearable computing devices market. For instance, according to the Coherent Market Insights’ analysis, the total sales of smart watches in 2016 accounted for US$ 36 million, which increased to US$ 76 million in 2017, globally. Rising inclination of the populace towards fitness, is expected to increase demand for wearable computer devices to help doctors monitor health of patients remotely. This in turn, is expected to help prevent deaths related to health issues such as obesity, heart attacks, asthma, and diabetes. These wearable computing devices are used to track various health parameters such as body temperature, blood pressure levels, and the count of blood cells, which further helps users detect, diagnose, and monitor all health parameters by themselves. Thus, growing demand for health monitoring in turn, is expected to propel growth of the global wearable computer devices market.

High cost and safety issues are among the factors restraining market growth

Low consumer awareness and safety concerns regarding data security are major factors restraining growth of the wearable computing devices market. Moreover, less battery back-up coupled with high cost of wearable devices are expected to limit growth of the market over the forecasted period.

Global Wearable Computing Devices: Key Trends

Advancements in sensor technology, is further increasing the demand for wearable computer. Miniature sensors based on micro- and nano-fabrication technology, are often referred to as MEMS (micro-electro-mechanical systems) and NEMS (nano-electro-mechanical systems). Major benefits of miniature sensors include capacity to minimize power consumption of devices. This in turn, is influencing increasing number of manufacturers to incorporate sensors in their wearable computer devices. For instance, in September 2014, Apple launched the Apple Watch, which can monitor health and fitness, track the wearer’s movement and heart rate. This watch incorporated with suite of MEMS sensors, makes it possible to deliver health data and vital statistics to the users. This data can further feed in to Apple’s Health app of iPhone and iPad for analysing the resultant data .These factors in turn, help boost growth of the market.

Global Wearable Computing Devices: Regional Insight

North America held a dominant position in the global wearable computing devices market in 2017, and is expected to retain its dominance throughout the forecast period (2018–2026). Growth of the market in the region is attributed to rising incidence of chronic diseases such as obesity, diabetic, heart disease, and arthritis. For instance, according to the National Centre for Health’s analysis, in the U.S., 37.7% adults and 17.2% youth were suffering from obesity in 2015, the percentage increased to 39.6% adults and 18.5% youth suffering from obesity in 2016. Thus, growing concern among people regarding chronic diseases has increased adoption of wearable computer devices. For instance, according to Coherent Market Insights’ analysis, in the U.S., most adopted wearable devices were those that transmit data, which accounted for around 39.7% share of the country’s wearable computing medical devices market, followed by sensor-enabled wrist wear and headset or eyeglass, which accounted for 32.6% and 22% share respectively, in 2013.

Furthermore, Asia Pacific is expected to be the fastest-growing region during the forecasted period. Growing geriatric population in emerging economies such as India and China, is one of the factors driving growth of the market in the region. For instance, According to the United Nations Population Fund (UNFPA), in India, the total geriatric population accounted for 7.9 million in 2011, which increased to 9.7 million in 2015. This in turn, is expected to increase the demand for wearable computer devices for easy and remote, and real-time diagnosis of health, which is thus, expected to fuel growth of the market in the region.

Global Wearable Computing Devices Market: Competitive Landscape

Major players operating in the wearable computing devices market include Adidas AG, Apple Inc., Boston Scientific Corp, Garmin Ltd, LG Electronics Inc., Google, LLC, Motorola Mobility Holdings, Inc., Nike, Inc., Pebble Technology Corp., and Samsung Electronics Co., Ltd., Major players in the market are focusing on inorganic growth strategies such as mergers and acquisitions, to strengthen their foothold in the market. For instance, in August 2013, Google acquired smartwatch developer WIMM Labs and its patents, as well as a portfolio of smart glasses patents from Hon Hai. Additionally, in April 2018, Nike, Inc. partnered with Invertex Ltd., a digital-based company for the launch of its HOVR smart shoe, which automatically tracks a runner’s distance, stride length, and cadence. This partnership will help the company gain a competitive edge in the market by increasing its product offerings.

Global Wearable Computing Devices Market: Taxonomy

 By Technology

  • Computing Technologies  
  • Wearable Computer
  • Display Technologies
  • Virtual Reality
  • Augmented Reality        
  • Networking Technologies
  • Wi-Fi
  • Bluetooth
  • Other
  • Other Technologies

By Applications

  • Fitness and Wellness Application
  • Wristband
  • Smart Clothing
  • Footwear
  • Others
  • Medical and Healthcare 
  • Continuous Glucose Monitor
  • Drug Delivery Product
  • ECG Monitoring
  • Others 
  • Enterprise and Industrial
  • Hand-Worn Terminal
  • Others   
  • Infotainment
  • Smart watches          
  • Augmented Reality Devices
  • Head-Up Display
  • Head-Mounted Displays
  • Smart Glasses

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users