Wearable technology market worth USD 29.92 billion in 2016 and expected to reach USD 71.23 billion by 2021, growing at a CAGR of 18.9% from 2016 to 2021 Download Free Sample: https://www.scalarmarketresearch.com/request-sample.php?id=116

1. 1
Wearable Technology Market, by
Products and Application –
Global Revenue, Trends,
Growth, Share, Size and
Forecast to 2021
October 2016

2. 2
About Scalar Market Research
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Table of Contents
1 MARKET OVERVIEW......................................................................................................................11
1.1 Research Methodology.........................................................................................................11
1.1.1 Primary Data .................................................................................................................11
1.1.2 Secondary Data.............................................................................................................12
1.1.3 Machine Learning..........................................................................................................13
1.1.4 Research Scope .............................................................................................................13
1.1.5 Years Considered ..........................................................................................................14
1.1.6 Currency & Pricing.........................................................................................................14
1.1.7 Market Segmentation...................................................................................................15
2 EXECUTIVE SUMMARY ..................................................................................................................16
2.1.1 Global Wearable Technology Market – Executive Summary........................................16
3 MARKET DYNAMICS......................................................................................................................17
3.1 Drivers...................................................................................................................................17
3.1.1 Rising Penetration and Adoption of Smart Mobile Devices..........................................17
3.1.2 Wearable Ecosystem Players Profiting from Substantial Venture Capital Funding......18
3.1.3 Significant Adoption of Wearable Products across Numerous Application Sectors.....19
3.1.4 Proliferation of IoT........................................................................................................19
3.2 Restraints ..............................................................................................................................21
3.2.1 Inadequate Battery Life.................................................................................................21
3.2.2 Data Confidentiality and Security Concerns .................................................................21
3.3 Opportunities........................................................................................................................22
3.3.1 Multi-Functional and Highly Compact Wearable Products...........................................22
3.4 Future Outlook......................................................................................................................23
3.4.1 Adoption across Enterprises .........................................................................................23
3.4.2 Wi-Fi Everywhere..........................................................................................................23
3.4.3 Create New Business Opportunities .............................................................................23
4 INDUSTRY ANALYSIS......................................................................................................................25
4.1 Value Chain Analysis .............................................................................................................25
4.2 Venture Capital Funding in the Wearable Technology Marketplace....................................26
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4.3 Patents/Patent Applications - Wearable Technology Market..............................................29
5 WEARABLE TECHNOLOGY MARKET, BY PRODUCTS......................................................................33
5.1 Introduction ..........................................................................................................................33
5.1.1 Global Wearable Technology Market Size & Forecast (US$ billion), By Products (2013 –
2021) .......................................................................................................................................33
5.2 Smart Clothing & Smart Glasses ...........................................................................................34
5.3 Sleep Sensors ........................................................................................................................35
5.4 Smart Watches......................................................................................................................35
5.5 Activity Monitors...................................................................................................................36
5.6 Augmented Reality (AR) Headsets........................................................................................36
5.7 Continuous Glucose Monitors (CGMs) .................................................................................36
5.8 Heart Rate Monitors (HRMs) ................................................................................................37
5.9 Drug Delivery Devices ...........................................................................................................38
5.10 Hand Worn Terminals...........................................................................................................38
5.11 Wearable Patches .................................................................................................................38
5.12 Jewelries................................................................................................................................39
6 WEARABLE TECHNOLOGY MARKET, BY APPLICATIONS................................................................40
6.1 Introduction ..........................................................................................................................40
6.1.1 Global Wearable Technology Market Size & Forecast (US$ billion), By Applications
(2013 – 2021)................................................................................................................................40
6.2 Infotainment .........................................................................................................................41
6.3 Fitness & Wellness................................................................................................................41
6.4 Healthcare & Medical ...........................................................................................................42
6.5 Industrial & Military..............................................................................................................42
6.6 Safety & Security...................................................................................................................43
6.7 Fashion & Lifestyle................................................................................................................43
7 WEARABLE TECHNOLOGY MARKET, BY GEOGRAPHY...................................................................44
7.1 Introduction ..........................................................................................................................44
7.1.1 Global Wearable Technology Market Size & Forecast (US$ billion), By Regions (2013 –
2021) .......................................................................................................................................44
7.2 North America.......................................................................................................................44
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7.2.1 North America Wearable Technology Market Size & Forecast (US$ billion), By Country
(2013 – 2021)................................................................................................................................45
7.2.2 North America Wearable Technology Market Size & Forecast (US$ billion), By
Products (2013 – 2021).................................................................................................................46
7.2.3 North America Wearable Technology Market Size & Forecast (US$ billion), By
Applications (2013 – 2021) ...........................................................................................................47
7.3 Europe...................................................................................................................................48
7.3.1 Europe Wearable Technology Market Size & Forecast (US$ billion), By Country (2013 –
2021) .......................................................................................................................................48
7.3.2 Europe Wearable Technology Market Size & Forecast (US$ billion), By Products (2013
– 2021) .......................................................................................................................................49
7.3.3 Europe Wearable Technology Market Size & Forecast (US$ Billion), By Applications
(2013 – 2021)................................................................................................................................50
7.4 Asia-Pacific (APAC)................................................................................................................51
7.4.1 Asia-Pacific Wearable Technology Market Size & Forecast (US$ billion), By Country
(2013 – 2021)................................................................................................................................51
7.4.2 Asia-Pacific Wearable Technology Market Size & Forecast (US$ billion), By Products
(2013 – 2021)................................................................................................................................52
7.4.3 Asia-Pacific Wearable Technology Market Size & Forecast (US$ billion), By
Applications (2013 – 2021) ...........................................................................................................53
7.5 Middle East & Africa (MEA) ..................................................................................................54
7.5.1 Middle East & Africa Wearable Technology Market Size & Forecast (US$ billion), By
Country (2013 – 2021) ..................................................................................................................54
7.5.2 Middle East & Africa Wearable Technology Market Size & Forecast (US$ billion), By
Products (2013 – 2021).................................................................................................................55
7.5.3 Middle East & Africa Wearable Technology Market Size & Forecast (US$ billion), By
Applications (2013 – 2021) ...........................................................................................................56
7.6 South America (SAM)............................................................................................................57
7.6.1 South America Wearable Technology Market Size & Forecast (US$ billion), By Country
(2013 – 2021)................................................................................................................................57
7.6.2 South America Wearable Technology Market Size & Forecast (US$ billion), By
Products (2013 – 2021).................................................................................................................58
7.6.3 South America Wearable Technology Market Size & Forecast (US$ billion), By
Applications (2013 – 2021) ...........................................................................................................59
8 COMPETITIVE LANDSCAPE............................................................................................................60
8.1 Market Share Analysis of Key Players...................................................................................60
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9 COMPANY PROFILES .....................................................................................................................61
9.1 Google, Inc. ...........................................................................................................................61
9.1.1 SWOT Analysis...............................................................................................................61
9.1.2 Recent Developments...................................................................................................63
9.2 Apple, Inc. .............................................................................................................................65
9.2.1 SWOT Analysis...............................................................................................................65
9.2.2 Recent Developments...................................................................................................67
9.3 Nike, Inc.................................................................................................................................68
9.3.1 SWOT Analysis...............................................................................................................68
9.3.2 Recent Developments...................................................................................................70
9.4 Microsoft Corporation ..........................................................................................................71
9.4.1 SWOT Analysis...............................................................................................................71
9.4.2 Recent Developments...................................................................................................73
9.5 Xiaomi, Inc.............................................................................................................................74
9.5.1 SWOT Analysis...............................................................................................................74
9.5.2 Recent Developments...................................................................................................76
9.6 adidas Group.........................................................................................................................78
9.6.1 SWOT Analysis...............................................................................................................78
9.6.2 Recent Developments...................................................................................................80
9.7 Sony Corporation ..................................................................................................................82
9.7.1 SWOT Analysis...............................................................................................................82
9.7.2 Recent Developments...................................................................................................84
9.8 Suunto Oy..............................................................................................................................86
9.8.1 SWOT Analysis...............................................................................................................86
9.8.2 Recent Developments...................................................................................................88
9.9 Garmin International, Inc......................................................................................................90
9.9.1 SWOT Analysis...............................................................................................................90
9.9.2 Recent Developments...................................................................................................92
9.10 Fitbit, Inc. ..............................................................................................................................94
9.10.1 SWOT Analysis...............................................................................................................94
9.10.2 Recent Developments...................................................................................................96
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9.11 Samsung Electronics Co., Ltd. ...............................................................................................98
9.11.1 SWOT Analysis...............................................................................................................98
9.11.2 Recent Developments.................................................................................................100
10 SCALAR 360 DEGREE MARKET PERSPECTIVE ..............................................................................101
11 APPENDIX....................................................................................................................................102
11.1 Acronyms ............................................................................................................................102
11.2 Related Reports...................................................................................................................103SAM
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List of Tables
Table 1. Primary Data .....................................................................................................................11
Table 2. Primary Sources ................................................................................................................12
Table 3. Secondary Data.................................................................................................................12
Table 4. Advantages of Machine Learning-based Forecasts ..........................................................13
Table 5. Years Considered ..............................................................................................................14
Table 6. Global Wearable Technology Market – Executive Summary............................................16
Table 7. The Rise of Connected Devices Over the Years ................................................................20
Table 8. Venture Capital Funding in the Wearable Technology Marketplace................................26
Table 9. Patent/Patent Applications – Wearable Technology Market...........................................29
Table 10. Global Wearable Technology Market Size & Forecast (US$ billion), By Products (2013 –
2021) ...........................................................................................................................................33
Table 11. Global Wearable Technology Market Size & Forecast (US$ billion), By Applications (2013
– 2021) ...........................................................................................................................................40
Table 12. Global Wearable Technology Market Size & Forecast (US$ billion), By Regions (2013 –
2021) ...........................................................................................................................................44
Table 13. North America Wearable Technology Market Size & Forecast (US$ billion), By Country
(2013 – 2021)........................................................................................................................................45
Table 14. North America Wearable Technology Market Size & Forecast (US$ billion), By Products
(2013 – 2021)........................................................................................................................................46
Table 15. North America Wearable Technology Market Size & Forecast (US$ billion), By
Applications (2013 – 2021) ...................................................................................................................47
Table 16. Europe Wearable Technology Market Size & Forecast (US$ billion), By Country (2013 –
2021) ...........................................................................................................................................48
Table 17. Europe Wearable Technology Market Size & Forecast (US$ billion), By Products (2013 –
2021) ...........................................................................................................................................49
Table 18. Europe Wearable Technology Market Size & Forecast (US$ Billion), By Applications (2013
– 2021) ...........................................................................................................................................50
Table 19. Asia-Pacific Wearable Technology Market Size & Forecast (US$ billion), By Country (2013
– 2021) ...........................................................................................................................................51
Table 20. Asia-Pacific Wearable Technology Market Size & Forecast (US$ billion), By Products
(2013 – 2021)........................................................................................................................................52
Table 21. Asia-Pacific Wearable Technology Market Size & Forecast (US$ billion), By Applications
(2013 – 2021)........................................................................................................................................53
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Table 22. Middle East & Africa Wearable Technology Market Size & Forecast (US$ billion), By
Country (2013 – 2021) ..........................................................................................................................54
Table 23. Middle East & Africa Wearable Technology Market Size & Forecast (US$ billion), By
Products (2013 – 2021).........................................................................................................................55
Table 24. Middle East & Africa Wearable Technology Market Size & Forecast (US$ billion), By
Applications (2013 – 2021) ...................................................................................................................56
Table 25. South America Wearable Technology Market Size & Forecast (US$ billion), By Country
(2013 – 2021)........................................................................................................................................57
Table 26. South America Wearable Technology Market Size & Forecast (US$ billion), By Products
(2013 – 2021)........................................................................................................................................58
Table 27. South America Wearable Technology Market Size & Forecast (US$ billion), By
Applications (2013 – 2021) ...................................................................................................................59
Table 28. Google, Inc., SWOT Analysis..............................................................................................61
Table 29. Apple, Inc., SWOT Analysis................................................................................................65
Table 30. Nike, Inc., SWOT Analysis..................................................................................................68
Table 31. Microsoft Corporation, SWOT Analysis.............................................................................71
Table 32. Xiaomi, Inc., SWOT Analysis..............................................................................................74
Table 33. adidas Group, SWOT Analysis ...........................................................................................78
Table 34. Sony Corporation, SWOT Analysis ....................................................................................82
Table 35. Suunto Oy, SWOT Analysis................................................................................................86
Table 36. Garmin International, Inc., SWOT Analysis.......................................................................90
Table 37. Fitbit, Inc., SWOT Analysis.................................................................................................94
Table 38. Samsung Electronics Co., Ltd., SWOT Analysis..................................................................98
Table 39. List of Acronyms..............................................................................................................102
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List of Figures
Research Methodology.....................................................................................................13
Global Wearable Technology Market, By Products..........................................................15
Global Wearable Technology Market, By Applications ....................................................15
Global Wearable Technology Market, By Regions............................................................15
Global Mobile Devices & Connections Growth, 2015.......................................................17
Global Mobile Devices & Connections Growth, 2020.......................................................18
Smart v/s Non-smart Devices & Connections...................................................................20
Value Chain Analysis .........................................................................................................25
Patent/Patent Applications of the Companies in Wearable Technology Market.............31
Market Share Analysis of Key Players ...........................................................................60
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1 MARKET OVERVIEW
The global wearable technology market is witnessing strong growth owing to rise in
the penetration of smartphone devices. Growing use of smartphones along with the
explosion of Internet of Things (IoT) is expected to drive the industry further. Also,
growing venture capital funding for numerous emerging players is also a contributing
factor for the augmentation of the market. Constant advancements in wearable
technology will boost the business opportunities in this market during the forecast
period. However, security concerns related to data confidentiality and insufficient
battery life of the wearable devices, hinder the market to an extent. Key players
highlighted in the wearable technology market report include Adidas Group, Apple Inc.,
Fitbit Inc., Garmin International Inc., Google Inc., Microsoft Corporation, Nike Ltd.,
Sony Corporation, Suunto Oy, and Xiaomi Inc. among others.
1.1 Research Methodology
We utilize a mix of primary research, secondary research, and machine learning
algorithms to generate comprehensive data about market sizes and revenue
forecasts. Our primary focus on continuous market tracking, rigorous fact-checking,
data-triangulation, and multiple layers of quality control ensures high-quality data that
can be leveraged for actionable research insights.
1.1.1 Primary Data
Table 1. Primary Data
Perspective Primary Research
Supply Side
 Manufacturers
 Wholesalers
 Distributors
Demand Side
 End-users
 Consumers
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Structured interviews with industry specialists, VPs, CEOs, directors, technology
consultants were taken in order to collect the key primary data. The primary data is
focused on both the demand and supply sides of the market. Market Engineering has
been carried out from the data and excessive analysis has been done on it. Primary
data is also extensively considered while validating the secondary data.
Table 2. Primary Sources
Report Parameters Primary Sources
Key Industry Participants (KPIs)
 Suppliers
 Government Agencies
 Regulatory Bodies
 Research & Development Companies
 Investment Research Companies
 Business Consulting Service Providers
 Academic Institutions/Universities
 Venture Capitalists
1.1.2 Secondary Data
Table 3. Secondary Data
Report Parameters Perspective Secondary Research
Market Size, Revenue,
Industry Analysis, Value
Chain Analysis,
Ecosystem Analysis,
Premium Industry
Trends, End-user
Analysis, Market
Segmentation,
Geographic Analysis, Key
Market Players,
Competitive Landscape
Supply Side
 Company Annual Reports
 SEC Filings
 Financial Journals
 Trade Journals
 Market Journals
 Press Releases
 Directories
 White Papers
 Company Websites
 Magazines
Demand Side
 Case Studies
 Customer References
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The data from important secondary sources is utilized to obtain industry supply chains,
company profiles, and other key areas such as market drivers, opportunities, trends
from the market perspective. In addition, secondary data is gathered using paid
databases such as Bloomberg, Hoovers, Factiva, and government publishing sources.
1.1.3 Machine Learning
In addition to assigning weights to all the relevant market parameters, to quantify their
market impact for generating projected market growth rate, we use advanced machine
learning algorithms to collate essential market data. The machine learning method
utilizes algorithms such as regression, correlation, and decision tree, among others,
to derive the desired output.
Table 4. Advantages of Machine Learning-based Forecasts
Perspective Advantages of Machine Learning-based Forecasts
Using Machine Learning for
Data Forecast
 Unlimited Data
 Highly Detailed Forecasts
 Profound Knowledge of Demand
 Broad applicability
 Customizable Model Identifies Drivers
 Analysis - Product, Value Chain, Supply Chain,
Competitor
1.1.4 Research Scope
We have utilized the top-down, bottom-up approach to study the market size, industry
dynamics, key regional markets, and major market trends. The global market has been
estimated by integrating the regional markets, estimating the market data for the base
year 2015 and annual share and revenue forecasts to 2022 in US$.
Research Methodology
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1.1.5 Years Considered
Table 5. Years Considered
Market Specifics Report Scope
Historical Year 2014
Base Year 2015
Estimated Year 2016
Forecast Period 2016-2022
Revenue Currency US$
1.1.6 Currency & Pricing
The currency used in the report is the U.S. dollar, with market size indicated in US$
million and US$ billion.
Global
Market Size
Market-specific
Revenues of Key Players
Total Revenues of Key Players
Global Market Size
Segment-specific
Market Size
Regional
Market
Size
Bottom-up
Top-down
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 Revenue is obtained from the annual company reports (For all the companies
reporting their revenue in US$)
 Revenue is converted as per the annual currency exchange rate for that
particular year (For the companies reporting their revenue in currencies other
than US$)
1.1.7 Market Segmentation
Global Wearable Technology Market, By Products
Source: Scalar Market Research Analysis
Global Wearable Technology Market, By Applications
Source: Scalar Market Research Analysis
Global Wearable Technology Market, By Regions
Source: Scalar Market Research Analysis
Wearable Technology
Market, By Products
Smart
Clothing
& Smart
Glasses
Sleep
Sensors
Smart
Watches
Activity
Monitors
AR
Headsets
CGMs HRMs
Drug
Delivery
Devices
Hand
Worn
Terminals
Wearable
Patches
Jewelries
Wearable Technology Market, By
Applications
Infotainment
Fitness &
Wellness
Healthcare &
Medical
Industrial &
Military
Safety & Security
Fashion &
Lifestyle
Wearable Technology Market, By Regions
North America Europe Asia Pacific
Middle East &
Africa
South America
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2 EXECUTIVE SUMMARY
2.1.1 Global Wearable Technology Market – Executive Summary
Table 6. Global Wearable Technology Market – Executive Summary
Global Wearable Technology Market
Market Size (US$ billion) CAGR%
(2016 – 2021)2015 2021
Total 25.92 71.23 18.9
Products
Largest Segment, by Revenue –
Smart Watches
Fastest Growing Segment – Hand
Worn Terminals
Applications
Largest Segment, by Revenue –
Healthcare & Medical
Fastest Growing Segment – Fashion
& Lifestyle
Regions
Largest Segment, by Revenue –
North America
Fastest Growing Segment – Asia-
Pacific
Source: Scalar Market Research Analysis
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3 MARKET DYNAMICS
3.1 Drivers
3.1.1 Rising Penetration and Adoption of Smart Mobile Devices
The current growth in the wearable technology market is chiefly driven by the rising
level of penetration and adoption of mobile devices, tablets, smartphones, and devices
used for M2M communications, evolving business models and emerging software
ecosystems. Nearly all conventional wearable devices now are paired with
smartphones, which have become an integral part of our daily life. Wearable devices
such as smart watches synced with smartphones are helping end-users to check and
attend calls and messages without taking out the smartphones. Companies such as
Samsung, OnePlus, Xiaomi, and others nowadays are also launching smartphones
with complementary wearable devices which will provide end-users with enhanced
experiences. The growth in these categories will directly impact the adoption of
wearable technology products, as the end-users are expected to highly embrace
wearable products in coming years.
Global Mobile Devices & Connections Growth, 2015
Source: Cisco VNI Mobile, 2016
31.9%
8.0%
2.0%
6.0%
49.9%
2.0% 0.2%
Global Mobile Devices & Connections Growth, 2015
Smartphones M2M Tablets
Phablets Nonsmartphones PC's
Other Portable Devices
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3.4 Future Outlook
3.4.1 Adoption across Enterprises
Wearable technology and solutions providers globally have shifted their focus to target
enterprises, wherein wearable devices such as smart glasses, wearable cameras,
location trackers, smart helmets, and hand own terminals possess a huge potential.
Wearable products can benefit manufacturing facilities and enterprises in numerous
ways to improve productivity and streamline processes. Currently, enterprises are
increasingly focusing on employer wellness programs and employee contribution and
productivity enhancement methods. Thus, this trend is analyzed to bolster mass
adoption of medical and fitness wearable devices and other associated technologies.
3.4.2 Wi-Fi Everywhere
The rapidly growing wearable technology market that encompasses smart glasses,
headsets, HRMs, medical aids, HMDs, smart clothing, and ingestible among others
has huge potential. A majority of these products rely on the connectivity of Bluetooth
technology. However, with the proliferation of IoT and advancement in digital
infrastructure across the globe, internet is expected to mark its presence almost
everywhere. Thus, with Wi-Fi and internet everywhere, all the wearable products can
be easily connected to smart devices seamlessly and on-the-go. Governments across
the world are aiming to build smart cities and also make airports, railway stations,
street, and other public places smart. Thus, the connected world is expected to provide
abundant opportunities for the growth of wearable technology market.
3.4.3 Create New Business Opportunities
The significant growth of wearable technology is expected to create new means for
marketing, including robust and smarter customer data collection, and enhanced
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4 INDUSTRY ANALYSIS
4.1 Value Chain Analysis
Value Chain Analysis
Source: Scalar Market Research Analysis
The value chain for wearable technology market captures all the stages of
manufacturing and supplying wearable technology products and solutions. Wearable
technology finds numerous applications in sectors such as fashion & lifestyle, safety
& security, industrial & military, healthcare & medical, fitness & wellness, and
infotainment. The raw materials required for the manufacturing of wearable devices
and other hardware components include IC’s, PCB’s, electronic adhesives, power
systems & batteries, textile materials, sensors, glasses, antennas, LED’s and other
electronic components, and materials. There are a number of existing raw material
suppliers and providers in the market (e.g. Alpha-Fit, Adhesives Research, etc.) that
supply raw materials to the wearable technology component manufacturers, and
integrators, who then develop the final product – ready to be delivered to the end-
users.
Raw
Material
Providers
Integrators/
Platform
Providers
Distribution
& Retail
End-users
•ICs, PCBs,
Electronic
Adhesives,
Power Systems
& Batteries
•Textile
Materials,
Sensors, LEDs
andother
electronic
components
•Assemblers,
Manufacturers
& Designers
•Development
Platform
Providers,
Standardizatio
n and Test
Organizations
•OEMs and
Integrators
•Physical
Stores,
International
andNational
Retailersand
Independent
Retailers
•OnlineStores
and
Distribution
Channels
•Fashion&
Lifestyle
•Safety &
Security
•Industrial&
Military
•Healthcare&
Medical
•Fitness &
Wellness
•Infotainment
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4.3 Patents/Patent Applications - Wearable Technology Market
The table below provides the number of patents/patent applications according to the
broad technologies involved, such as connectivity, processing, network infrastructure,
and also their applications in various industry segments:
Table 9. Patent/Patent Applications – Wearable Technology Market
Level 1 Level 2 Level 3
Patents/Patent
Applications
Connectivity
Specially adapted
services/devices
877
Switching Systems 744
Communication Protocols 639
EMW/Radio Waves 1,058
Access/Authentication 421
Connection Management 355
Resource Management 2,084
Topology Management 160
Multiplexing Methods 618
Traffic Management 142
Light Guides 223
Processing
Algorithm
Speech Processing 1,431
Character Recognition 834
Bioinformatics 1,073
Image Processing 669
Others 1,637
Encryption
Data Security 1,236
Error Correction 1,067
Data Encryption 566
Memory Management Information Retrieval 591
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5 WEARABLE TECHNOLOGY MARKET, BY PRODUCTS
5.1 Introduction
In the present time, wearable technology is attaining high acceptance among people
and the range of products offered has gone beyond from smartwatches and wrist-
bands eyewear to smart apparels, eyewear, and other health monitoring wearables.
5.1.1 Global Wearable Technology Market Size & Forecast (US$ billion), By
Products (2013 – 2021)
Table 10. Global Wearable Technology Market Size & Forecast (US$ billion), By
Products (2013 – 2021)
Products 2013 2014 2015 2016 2017 2018 2019 2020 2021
CAGR%
(2016 –
2021)
Smart Clothing
& Smart
Glasses
0.82
Sleep Sensors
Smartwatches
Activity
Monitors
AR Headsets
CGMs
HRMs
Drug Delivery
Devices
Hand Worn
Terminals
Jewelries
Total
Source: Scalar Market Research Analysis
The wearable product market is segmented by several product types into smart
clothing & smart glasses, augmented reality (AR) headsets, sleep sensors, heart rate
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monitors (HRMs), wearable patches, activity monitors, smartwatches, continuous
glucose monitors (CGMs), hand worn terminals, drug delivery devices, and jewelries.
These products are worn or attached to the human body and are divided according to
the body parts such as eyewear, body wear, finger or ring wear, footwear, neck wear,
and wrist wear among others.
5.2 Smart Clothing & Smart Glasses
Smart glasses also known as digital eye glasses are wearable computer devices which
enable to add information to what user sees through optical HMD or AR overlay, which
has the ability to reflect projected digital images and allow the wearer to see through
the device or see better with it. Google Glass is one of leaders for smart glasses,
whereas, there are many companies that are currently engaged in developing smart
glasses. Some of them are large enterprises and companies that manufacture their
own components, however, other small companies may require to outsource needs
and purchase the components and sensors from specialized manufacturers. The
wearable displays are not of the same size for everyone as the distance between both
the eyes of a person varies and the device is designed keeping in mind an average
separation distance which might act as a challenge in mass adoption of a product.
Smart clothing or e-textiles, smart fabrics, or smart textiles are the clothes that enable
electronic and digital components to be embedded into them. These fabrics have been
developed with innovative technology to deliver value to the wearer. These fabrics
come under two categories namely: performance enhancing and aesthetic.
Performance enhancing fabrics help in regulating body temperature, controlling music
vibration and to reduce wind resistance which results in improving athletic
performance making huge impact on extreme sports, defense, and athletic. Aesthetic,
on the other hand, are those fabrics which can change color and collect energy from
the environment by sound or heat, harnessing vibrations, reacting to this input. Other
fabrics include clothes designed to safeguard against environmental hazards such as
radiations. The beauty and health industry is also taking benefits by these innovations
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6 WEARABLE TECHNOLOGY MARKET, BY APPLICATIONS
6.1 Introduction
The uses and implication of wearable technology have an extensive influence and
impact in the fields of fitness, aging, medical care, disabilities, transportation,
education, enterprise, gaming, music, and finance. The main motive of wearable
technologies across all these fields is to efficiently integrate functional, portable
computers and electronics into daily lives of individuals. Before entering in the
consumer market, these devices were mainly used in the military technology and had
the major inferences for medicine and healthcare. The application segment of global
wearable technology market includes infotainment, healthcare & medicine, industrial
& military, fashion & lifestyle, fitness & wellness, and safety & security.
6.1.1 Global Wearable Technology Market Size & Forecast (US$ billion), By
Applications (2013 – 2021)
Table 11. Global Wearable Technology Market Size & Forecast (US$ billion), By
Applications (2013 – 2021)
Applications 2013 2014 2015 2016 2017 2018 2019 2020 2021
CAGR%
(2016 –
2021)
Infotainment 13.98
Fitness &
Wellness
Healthcare &
Medical
Industrial &
Military
Safety &
Security
Fashion &
Lifestyle
Total
Source: Scalar Market Research Analysis
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7 WEARABLE TECHNOLOGY MARKET, BY GEOGRAPHY
7.1 Introduction
The wearable technology market is geographically segment into five major regions
namely, North America, Middle East and America, Asia-Pacific, Europe, and South
America. Currently, North America is leading the market and Europe, APAC, and
Middle East are expected to grow at a high rate in wearable technology market. For
the years 2015 & 2025, the breakdowns of wearable technology market based on
regions are shown in the figures below.
7.1.1 Global Wearable Technology Market Size & Forecast (US$ billion), By
Regions (2013 – 2021)
Table 12. Global Wearable Technology Market Size & Forecast (US$ billion), By
Regions (2013 – 2021)
Regions 2013 2014 2015 2016 2017 2018 2019 2020 2021
CAGR%
(2016 –
2021)
North America 17.1
Europe
Asia-Pacific
MEA
SAM
Total 22.68 71.23 18.9
Source: Scalar Market Research Analysis
7.2 North America
The global wearable market is dominated by North America that holds the largest
market share in terms of revenue. The market is propelled by the growing awareness
of fitness and health, where wearable devices play an important role. The decreasing
price of the wearable devices due to competition and advancement in technology are
making the wearable devices economical. Further, escalating demand for several
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application sectors such as wearable technology for healthcare, security and fitness
is boosting the demand for wearable devices in North America.
The growing market of smartphones and tablets is allowing the integration of
smartphones with wearable devices. Wrist wear segment of wearable technology
captures a major chunk of the market and is projected to lead the market during the
predicted period. The inception of smartwatches by companies such as Apple, Nike,
and Samsung among others has contributed to the growth of the market. North
America has deep penetration for wearable devices due to early adoption of innovative
technology. The passion to keep up a healthy lifestyle in the U.S. and Canada is the
main reason for the region’s dominance. Also, continuous advancement in
technologies, high purchasing power, and disposable income in this region is
contributing to the development of North America wearable technology market.
7.2.1 North America Wearable Technology Market Size & Forecast (US$ billion),
By Country (2013 – 2021)
Table 13. North America Wearable Technology Market Size & Forecast (US$ billion),
By Country (2013 – 2021)
Country 2013 2014 2015 2016 2017 2018 2019 2020 2021
CAGR%
(2016 –
2021)
U.S.
Rest of North
America
Total
Source: Scalar Market Research Analysis
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7.2.2 North America Wearable Technology Market Size & Forecast (US$ billion),
By Products (2013 – 2021)
Table 14. North America Wearable Technology Market Size & Forecast (US$ billion),
By Products (2013 – 2021)
Products 2013 2014 2015 2016 2017 2018 2019 2020 2021
CAGR%
(2016 –
2021)
Smart Clothing
&
Smartglasses
Sleep Sensors
Smartwatches
Activity
Monitors
AR Headsets
CGMs
HRMs
Drug Delivery
Devices
Hand Worn
Terminals
Wearable
Patches
Jewelries
Total 17.1
Source: Scalar Market Research Analysis
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8 COMPETITIVE LANDSCAPE
8.1 Market Share Analysis of Key Players
The pie-chart below represents the company market share analysis of key players
operating in the global wearable technology market for the year 2015:
Market Share Analysis of Key Players
Source: Scalar Market Research Analysis
27.3%
16.7%
13.5%
4.5%
4.1%
33.9%
2015
Fitbit Inc. Xiaomi Inc. Apple Inc. Garmin Ltd. Samsung Electronics Co., Ltd Others
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9 COMPANY PROFILES
9.1 Google, Inc.
9.1.1 SWOT Analysis
Table 28. Google, Inc., SWOT Analysis
Strengths Weaknesses
• High investments in R&D
• Strong relationship with industry-
leading partner companies
• High dependency on single revenue
stream
Opportunities Threats
• Collaborations and joint ventures
• Highly competitive market
• Fluctuating global economy
Source: Company Annual Reports, Scalar Market Research Analysis
Strengths
High investments in R&D
Google, Inc. makes continuous investments in their existing services and products as
well as in new innovations. Company release early-stage products to see if it’s feasible
to invest on it by taking customers' feedback. Majority of their research expenses are
on technical and engineering staff who are responsible for carrying out R&D activities.
Google, Inc. has secured many patents such as pay per gaze (that enables real world
advertisements to be transformed into digital behavior), computerized eyewear,
autonomous delivery truck etc. Google has also announced its R&D collaboration with
Calico, a research firm with the intention to benefit both the companies develop,
discover and bring to market new remedies for age-related diseases.
Strong relationship with industry-leading partner companies
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Google, Inc. has partnered with various leading companies to make their products
consumer friendly. Google partnered with Luxottica, an eyewear company; various
electronics manufacturers such as HTC, Samsung, Motorola, Asus and LG. Also,
Google, Inc. partnered with Fossil Group, Inc. and Michael Kors for development of
smartwatches. Apart from these, the company is partnered with Mediatek, Intel,
Broadcom, Qualcomm, Imagination, and many others. Google collaborated with these
partners to launch watches powered by Android Wear. Furthermore, Google partnered
with Levi Strauss & Co. to bring wearable technology in clothing.
Weaknesses
High dependency on single revenue stream
Google Inc. depends mainly on advertisements for revenue generation, as it
Generates 1/3rd of revenue from advertisements. Although the revenue is increasing
every year but company should also focus on other streams to diversify its sources of
income. This will help the company to remain stable even if there is some downfall in
one source.
Opportunities
Collaborations and joint ventures
Since Google, Inc. has partnered with various companies and has been collaboratively
working towards launching wearable products. High collaborations with renowned
companies gives Google, Inc. a benefit to get into partnership with other companies
looking or willing to launch their products based on wearable technology in the market.
Moreover, tie-up with companies provides wider market with flexible customer base.
Threats
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Highly competitive market
The market for wearable technology is at its growing stage and there are several key
players competing in the market. Most of the revenue generated is divided among the
hardware and app developers. The technology providers keep comparatively low
revenue share and major share of revenue earned is invested in R&D and innovation.
Fluctuating global economy
The company has its business expanded over regions such as North America, Europe,
APAC, MEA, and SAM. Number of factors affects the stock price of the company
includes credit market conditions, consumer credit availability, government policies,
spending levels, and global production rate. Additionally, the fluctuations in currencies
and political environment differs from region to region.
9.1.2 Recent Developments
• In March, 2016, Michael Kors, a luxury lifestyle goods providers collaborated
with Google to launch itself into the wearable technology market. Michael Kors
launched Michael Kors Access smart watch, which will provide users smart
watch with innovative design and glamorous styles
• In December, 2015, Google, Inc. filed a patent application for a needleless
wearable device to check diabetics’ blood sugar levels. Addition to checking
blood sugar level, the device might also be used for checking hormone levels,
enzymes, and proteins.
• In June, 2015, Google, Inc. designed a health-tracking wristband which can be
used in drug tests and clinical trials, providing the physicians every minute
report of the patient. Google offers its health-monitoring smart watch features
in its Android Wear software platform, through partners like LG Electronics Inc.
• In May, 2015, Google partnered with Levi Strauss & Co., a clothing company,
with an aim to make clothes integrated with wearable technology input devices
and named it as project ‘Jacquard’. Project Jacquard will offer developers and
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designers to develop connected, touch-sensitive textiles into their individual
products.
• In June, 2014, Google announced an introduction of new product named as
Google Cardboard. It will offer the users to experience mobile virtual reality with
low-cost designed to work with iOS and android devices.
• In March, 2014, Google announced partnership with Luxottica, an Italian
eyewear company. They partnered with an intention to develop Google Glass
wearable headsets into consumer friendly and stylish products.
• In March, 2014, Google announced Android wear, a project that develops the
company’s mobile operating system to wearable. To launch watches driven by
android wear, Google partnered with various chip makers, consumer
electronics manufacturers, and fashion brands.
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11 APPENDIX
11.1 Acronyms
Table 39. List of Acronyms
Acronym Expansion
BYOD Bring Your Own Device
CAGR Compounded Annual Growth Rate
FIFA The Fédération Internationale de Football Association
GPS Global Positioning System
HP Hewlett-Packard
HRM Heart Rate Monitor
IC Integrated Circuit
IHA The Intelligent Health Association
IMIA The International Medical Informatics Association
IoT Internet of Things
LED Light Emitting Diode
M2M Machine to Machine
MMS Multimedia Messaging Service
NBA The National Basketball Association
NFC Near field communication
OEM Original Equipment Manufacturer
OS Operating Systems
PCB Printed Circuit Board
PC Personal Computers
P.E. Physical Education
POS Point of Sale
PTT Push to Talk
R&D Research and Development
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SAM South America
UAE United Arab Emirates
U.K United Kingdom
VR Virtual Reality
WearRA The Wearable Robotics Association
Wi-Fi Wireless Fidelity
Source: Scalar Market Research Analysis
11.2 Related Reports
 Virtual Reality Market, by Technology (Non-Immersive, Semi-Immersive, Fully-
Immersive), Product (Hardware, Software), Application (Gaming, Healthcare,
Aerospace & Defense, Entertainment & Others) – Global Revenue, Trends,
Growth, Share, Size and Forecast to 2022
 Smart Clothing Market, by Intelligence System (Passive Smart, Active Smart),
By Application (Personal, Healthcare, and Enterprise) – Global Revenue,
Trends, Growth, Share, Size and Forecast to 2022
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