Techno World Wearable-Computing-Devices-Market | Page 2

levels, and the count of blood cells, which further helps users detect, diagnose, and monitor all
health parameters by themselves. Thus, growing demand for health monitoring in turn, is
expected to propel growth of the global wearable computer devices market.
High cost and safety issues are among the factors restraining market growth
Low consumer awareness and safety concerns regarding data security are major factors
restraining growth of the wearable computing devices market. Moreover, less battery back-up
coupled with high cost of wearable devices are expected to limit growth of the market over the
forecasted period.
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Global Wearable Computing Devices: Key Trends
Advancements in sensor technology, is further increasing the demand for wearable computer.
Miniature sensors based on micro- and nano-fabrication technology, are often referred to as
MEMS (micro-electro-mechanical systems) and NEMS (nano-electro-mechanical systems). Major
benefits of miniature sensors include capacity to minimize power consumption of devices. This in
turn, is influencing increasing number of manufacturers to incorporate sensors in their wearable
computer devices. For instance, in September 2014, Apple launched the Apple Watch, which can
monitor health and fitness, track the wearer’s movement and heart rate. This watch incorporated
with suite of MEMS sensors, makes it possible to deliver health data and vital statistics to the
users. This data can further feed in to Apple’s Health app of iPhone and iPad for analysing the
resultant data .These factors in turn, help boost growth of the market.
Global Wearable Computing Devices: Regional Insight
North America held a dominant position in the global wearable computing devices market in
2017, and is expected to retain its dominance throughout the forecast period (2018–2026).
Growth of the market in the region is attributed to rising incidence of chronic diseases such as
obesity, diabetic, heart disease, and arthritis. For instance, according to the National Centre for
Health’s analysis, in the U.S., 37.7% adults and 17.2% youth were suffering from obesity in 2015,
the percentage increased to 39.6% adults and 18.5% youth suffering from obesity in 2016. Thus,
growing concern among people regarding chronic diseases has increased adoption of wearable
computer devices. For instance, according to Coherent Market Insights’ analysis, in the U.S.,
most adopted wearable devices were those that transmit data, which accounted for around
39.7% share of the country’s wearable computing medical devices market, followed by sensor-
enabled wrist wear and headset or eyeglass, which accounted for 32.6% and 22% share
respectively, in 2013.
Furthermore, Asia Pacific is expected to be the fastest-growing region during the forecasted
period. Growing geriatric population in emerging economies such as India and China, is one of
the factors driving growth of the market in the region. For instance, According to the United
Nations Population Fund (UNFPA), in India, the total geriatric population accounted for 7.9 million