Global Wearable Technology Market Shows Positive Growth According to Allied Market Research
Portland, Oregon (PRWEB UK) 16 June 2014 -- Wearable computing devices are like miniature electronic devices, which can be tied to the body. They are also known as wearable or body-borne computers. Such body borne electronic devices provide free operations, network communication, logic calculations and real time data monitoring. The high tech industry is undergoing various interesting developments in the wearable’s industry. The innovative industry is experiencing different intriguing advancements in the wearable's business. The wearable business would rule by coordinating with advanced mobile phones as well as by succeeding them in consumer environments.
Skyrocketing popularity of Smartphone’s due to manufacturers such as Samsung, HTC, Nokia, Apple, Microsoft, etc., is the primary reason behind the growth of the wearable market. As per the research, the annual growth rate of the Smartphone market is 40%. Further, technological strides in the field of material sciences, software, electronics and photonic industry have triggered the growth prospect for wearable computing market.
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In terms of the product, the wearable technology market is segmented into smart glasses, smart watches, wearable cameras, activity trackers, augmented reality and gaming devices. Major utilization of Smart glasses & watches are used by fitness enthusiasts, while their workouts. The wearable cameras are anticipated to gain popularity in future due to its easy operation and management.
The application segment of the market includes healthcare, defense & military, government, mining and manufacturing. Similarly, fitness and sports applications, industrial, home automation, and enterprise applications are few more application sectors in the wearable’s industry.
The geographical analysis of the wearable industry includes region such as North America, Europe, Asia Pacific and LAMEA. At present, North America is dominating the global wearable market. However, with increasing purchasing power, Asia Pacific is expected to show a significant growth.
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Competitive Landscape
Manufacturers in the market are adopting product launch as their key developmental strategy. Google has launched Android wearable’s to compete with other novel product positioned by various companies in the industry. AT&T Inc., Google Inc., Apple Inc., Nike Inc., Addidas Inc., Glassup SRL, Texas instruments, Inc., By-Wire.Net, Eurotech S.P.A are some major players in the wearable industry.
Key Benefits
• Porters five force’s model helps in analyzing the potential of buyers & suppliers, and the competitive sketch of the market, which would guide the market players to develop strategies accordingly
• Assessments are made according to the current business scenario, and the future market structure & trends are forecast for the period from 2013 to 2020 by considering 2013 as base year
• The analysis gives a wider view of the global market including its market trends, market structure, limiting factors and opportunities
• The advantages of the market are analyzed to help the stakeholders identify the opportunistic areas in a comprehensive manner
• The value chain analysis provides a systematic study on the key intermediaries involved, which would in turn help the stakeholders in the market to make appropriate strategies
Key Deliverables
The global market is segmented based on products, applications and geography.
Market by Product
• Smart Glasses
• Wearable Cameras
• Smart Watches
• Activity Trackers
• Gaming Devices
• Augmented Reality
Market by Application
• Healthcare
• Government
• Defense & Military
• Manufacturing and Mining
• Fitness & Sport Applications
• Home Automation
• Industrial &Enterprise Applications
Market by Geography
• North America
• Europe
• Asia Pacific
• LAMEA
Browse all information and communication technology & media market report at http://www.alliedmarketresearch.com/information-&-communication-technology-&-media-market-report.
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Allied Market Research (AMR) is a global market research and business consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. All the data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of concerned domain. Our secondary data procurement methodology includes deep online and offline research and discussions with knowledgeable professionals and analysts in the industry.
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