According to a new market research study titled ‘Wearable Technology Market to 2025 – Global Analysis and Forecast by Product and Application’, the global wearable technology market was valued at US$ 26.19 Bn in 2015 and is estimated to reach US$ 170.91 Bn by 2025. The report highlights the trends that are prevalent in the global market and the factors that act as barrier to the growth of wearable technology market.
In the last few years’ global wearable technology market have experienced a significant growth in its acceptance across different verticals like health and fitness, medical, media and entertainment, fashion and lifestyle and others to name a few. Wearable technology has also evolved tremendously in the last few years and companies are aggressively launching innovative products and solutions like smart clothing, smart glasses, attracting mass adoption among individuals and enterprises.
High growth of Internet of Things (IoT), increasing end user’s preference towards handy gadgets and growing acceptance across various application areas due to high potential advantages are some of the factors expected to boost the wearable technology market during the forecast period. However, rising data privacy concerns, high prices and limited battery life of devices is expected to hamper the global market growth. The smart watches segment leads the wearable technology market currently and is expected to hold the significant market share during the forecasted period by accounting for 19.96% of the total market revenue share in the year 2025.
Click to get Free Sample of Report - http://theinsightpartners.com/sample/TIPTE100000104
Growing health awareness and changing lifestyle especially in the North American, European, Asia Pacific (APAC) regions coupled with increasing technological adoptions trends is providing ample opportunities to wearable technology solution and devices providers. On the other hand, Asia-Pacific region is expected to experience a...