The global wearable security devices market was valued at more than USD 2 billion in 2016 and is expected to reach almost USD 6 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global wearable security devices market, under its machine-to-machine (M2M) and connected devices portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Apple, Google, Fitbit, and Samsung.
According to Abhishek Sharma, a lead analyst for its machine-to-machine (M2M) and connected devices research at Technavio, “Smart wearable devices help consumers track and monitor their health on a regular basis. Individuals are using such devices to monitor heart rates, body temperature, calories burned, and sleep statistics.”
In developed regions, including North America and Western Europe, the demand for and shipment of smart wearable devices (smartwatches, wearable bands, wristband, bionic suit, and pedometer) have increased in past years. The decline in the cost of these products is a major driving force behind the adoption of wearable devices among consumers.
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Increased awareness of 3D printing
3D printing is spurring significant innovations across streams such as engineering, aerospace, automobile, energy, military, manufacturing, art, medicine, and education. 3D printing is used for manufacturing applications to enable on-demand production. It also helps in the optimum utilization of input material resources that are wasted during the production process with traditional techniques.
Presence of strategic alliances
Strategic alliances help technology vendors of wearable security devices boost the sales of their products and services. For instance, Ericsson and SAP invite mobile operators to join them in selling cloud-based IoT solutions, including device connections and service enablement platforms to enterprises.
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This industry analysis includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Wearable Security Devices Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Batteries Market for Smart Wearables 2017-2021
- Global Wrist Wearable Market 2016-2020
- Global Wearable Patch Market 2016-2020
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