Wearable Technology Market Forecasts 2030 Oct 2016 | Page 2

Wearable Technology Forecasts: 2016 – 2030
While wearable technology has been utilized in vertical sectors such as the military and healthcare industries for
many years, ongoing advances have triggered a major resurgence of the concept, particularly among the consumer
community. Key enabling technologies including low cost sensors, wireless connectivity, active materials and
energy have converged to make wearable technology mainstream.
Research estimates that wearable device shipments will grow at a CAGR of 29% between 2016 and 2020. By 2020,
wearable devices will represent a market worth $40 Billion with over 240 Million annual unit shipments.
With the continued miniaturization of enabling technologies, wearable devices have hit the mass market in a
diverse variety of form factors, ranging from glasses to even jewelry.
Driven by the ability to interconnect with key modern trends of healthcare, fitness, messaging and socialization,
the wearable technology ecosystem is attracting significant levels of interest. Companies as varied as smartphone
OEMs, mobile operators, health insurers and retailers are circling the ecosystem alongside tiny startups, all vying
for a stake.
Browse report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=745660.