Wearable electronics market in North America is all set to dominate the market, thanks to huge development in technology. India and China’s very little production costs are also harboring a considerable amount of growth in Asia pacific. Germany and United Kingdom are expected to have substantial lead in European market due to the never-ending innovations introduced in the region.
Wearable devices are expected to cross the $12 Billion milestone in market value by the end of year 2023. This evaluates a 24% growth in CARG between years 2016 and 2023. With the huge steps taken in innovation and enhancing technology, the demand of the wearables has also increased around the world. From eye gear to smart wrist watches and other electronic wearables.
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Popularity of these electronics have increased exponentially under a big number of fields including the label readers, telemedicine, navigation for cyclists and runners, health monitoring, fitness tracking etc. All these devices play a huge role in our day to day lives. Tracking down our blood pressure, heart beat, glucose level, distance covered by us and burnt calories has become easy with the assistance of all these incredible devices. Not only you can track these activities in real time but you can also keep a record of them.
The worldwide market of wearable electronics is a little fragmented on a wider level. The leading players in this market are targeting solutions specific to applications. Fitness sector of the market is dominated by Jawbone, Nike Inc., Fitbit, Adidas AG, Timex group USA Inc. and a few others. Major players in industrial side of this market are Sony Corp., LG Corp., Google, Motorola, Samsung, Qualcomm, Pebble, GoPro and Martian. Medical and healthcare field of this market is divided between Cardionet, Dexcom, LifeWatch, Alive Technologies, Abbot and Medtronic to name a few. Military grade products are produced heavily by MicroVision, Quantum 3D, Eurotech, SAP etc.