According to a new market research report "Wearable Electronics Market and Technology Analysis (2013 - 2018): By Components (Sensors, Battery, Display, Networking); Applications (Consumer, Healthcare, Enterprise); Products (Smart -Textiles, Glasses, Watches);e-Materials and Geography" published by MarketsandMarkets (www.marketsandmarkets.com), the global wearable electronics market revenue is expected to cross $8 billion, and the total unit shipment is expected to cross 130 million units globally, by 2018. Browse 90 market data tables and 132 figures spread through 380 pages and in-depth TOC on this report.
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Wearable Electronics, often also referred as wearable computing or wearable technology, is the most buzzing next-generation aspect in the consumer electronic and computing technology industry in the current scenario. It is expected to be the next big thing in the field of computing, with a new generation of electronic gadgets creating a wave similar to that created by the global smartphone revolution. As such, it comes as no surprise that increasing number of technology giants are betting high on wearable products and devices.
The field of wearable technology includes several products such as smart glasses/goggles, ring/finger worn scanners, foot-wear such as athletic, fitness & sports shoes, wrist-wear such as advanced electronic watches and wrist-bands, and others (such as head-bands and neck-wear) along with the upcoming “smart textiles” and the yet to commercialize (expected in 2016) “e-textiles”.
The global wearable electronics market was worth more than $2.5 billion in revenue in 2012 and is expected to cross $8 billion in 2018, growing at a healthy CAGR of 17.7% from 2013 to 2018. In terms of products, wrist-wear accounted for the largest market revenue in 2012, with total revenue of the most established wearable electronic products - wrist-watches and wrist-bands combined, crossing $850 million.
The global wearable technology ecosystem’s value was estimated to more than $4 billion as of 2012, and is expected to reach cross $14 billion by 2018, growing at a CAGR more than 18% from 2013 to 2018. The total addressable market (TAM) for wearable technology is estimated to be more than $14 billion, as of 2012, and the current level of penetration for wearable technology was estimated to be roughly 18%. This market penetration rate of wearable technology is expected to accelerate (increasing rate of penetration every year) over the next five years, reaching roughly 46% penetration level in the TAM, by 2018.
Some of the key players in the wearable electronics market include Adidas AG (Germany), Fitbit, Inc. (U.S.), Fibretronic Ltd. (U.K.), Google, Inc. (U.S.), Jawbone, Inc. (U.S.), Nike, Inc. (U.S.), Olympus Corporation (U.S.), Recon Instruments, Inc. (Canada), Vuzix Corporation (U.S.), and Weartech s.l (Spain) among others.
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