This contributed column is sponsored by Business Facilities LiveXchange.
Posted by Heidi Schwartz
The new report entitled Wearable Computing: Technologies, Applications, and Global Markets projects that the global market for wearable computing devices is expected to grow to $30.2 billion by 2018, with a five-year compound annual growth rate (CAGR) of 43.4%. The consumer market, the fastest moving segment overall, is projected to grow at a tremendous 52% CAGR, according to the study by BCC Research.
Wearable or body-borne computers enable hands-free mobile real-time data monitoring, logic calculation, and network communication. Consumer applications, including wearable cameras, activity trackers, smart clothing, smart glasses, smart watches, augmented reality and gaming devices, are expected to explode onto the market over the next few years, reaching $22.1 billion by 2018. Non-consumer markets (healthcare, defense/security, enterprise, and industrial) are expected to reach $8.1 billion by 2018.
The smart watch product category is projected to account for the largest single consumer market, generating more than $12.5 billion in global annual revenues in 2018.
Wearable Computing: Technologies, Applications, and Global Markets provides an overview of the wearable computing devices market. The report discusses recent technological advances in materials sciences, electronics, photonics, and software that are enabling a potentially vast range of new lightweight, wearable computing products to emerge.
The history and current state of the market is reviewed and the types of devices available are discussed. An analysis of the industry structure, including major companies and market shares, and major markets and market drivers is made. Likely future industry developments are discussed and the future evolution of the technology is predicted. Patent evaluation, including coverage of the current state of technology, new patent applications, and newly issued patents is also included.
This report is intended for developers, manufacturers, providers, suppliers, users, customers, commentators, analysts, and investors interested in where the Wearable computing devices and accessories market is heading.