Fitness bands and smart watches have emerged as one the prime revenue sources and has experienced a high adoption rate, highly growing demographics across the regions and increasing awareness among end users about the potential benefits of wearable technology is expected to accelerate the wearable technology market in the coming years. High acceptance across various application areas such as industrial and medical and increasing spur in venture capital funding for various wearable ecosystems players along with high growth of IoT and increasing end-user’s preference towards handy gadgets is further boosting the growth of wearable technology market.
The global market has been segmented on the basis of applications into healthcare & medical, infotainment, military & industrial, fitness & wellness, safety & security, and fashion & lifestyle. The global wearable technology market has been further bifurcated by products into sleep sensors, smart clothing & smart glasses, activity monitors ,smart watches, HRMs, continuous glucose monitor , wearable patches, AR headsets, hand worn terminals, and jewelries (such as bracelets, ring, neck pieces earrings, pendants, and clutches among others).
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Presently, North America dominates the global wearable technology market, due to a high number of wearable technology products manufacturers, high acceptance and actively involved in launching a number of key products. In addition, Europe wearable technology market is anticipated to be grow at a good rate owing to growing demand of wearable products from industrial & military, healthcare & medical industries. Asia Pacific (APAC) is one of the fastest growing region for the wearable technology market due to a large base of users demanding wearable devices. Thus, with a large number of potential users, specifically in India and China, APAC is expected to be the leading...