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(Wireless-NewsWire.Com, August 06, 2016 ) In the last few years’ global wearable technology devices 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.
According to the new Market research study published by The Insight Partners, The Global Wearable Technology Market was estimated at US $26.19 billion in 2015. This market is expected to grow at a CAGR of 20.8% between 2016 and 2025, to reach US $170.91 Billion in 2025.
Browse market data tables and in-depth TOC of the Wearable Technology Market to 2025 @ http://theinsightpartners.com/reports/wearable-technology-market
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.
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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 geography in near future and a strong battle ground for various wearable technology providers round the globe. A medium growth is expected to be experienced in South America due to lack of awareness and slow technical adoption about wearable technology and wearable products.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, and Telecommunication industries.
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