ALBANY, New York
January 14, 2013
According to a new market report published by Transparency Market Research (
Wearable Technology Market - Global Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2012- 2018
," the global wearable technology market stood at
USD 750.0 million
in 2012 and is expected to reach
USD 5.8 billion
in 2018, at a CAGR of 40.8% from 2012 to 2018.
is expected to maintain its lead position at 43.0% of the global wearable technology revenue share in 2018 followed by
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Wearable technology market
is in early stage of evolution with growing adoption in various end-use segments such as fitness and wellness, healthcare and medical, industrial and military and infotainment sectors. Wearable fitness and wellness products include smart clothing, activity monitors, sleep sensors and others; whereas the infotainment segment includes smart watches, smart glasses and heads-up displays among others. On the other hand, products like continuous glucose monitors (CGM), drug delivery, and wearable patches are being predominantly used in healthcare and medical sector. Hand worn terminals, heads-up displays and other such products are being used in the industrial and military settings.
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Among all the wearable technology end use segments, the healthcare and medical segment held the largest revenue share followed by fitness and wellness in 2012. However, in 2018, the infotainment segment is expected to surpass the fitness and wellness segment driven by robust growth of smart watches and smart glasses. The healthcare and medical segment accounted for about 35.1% of the overall wearable technology market in 2012 primarily due to the rising aging population and increase in diabetic population.