Wearables a $40 Billion opportunity for device OEMs, says SNS Research report
DUBAI, UAE. 2nd May 2016: SNS Research's latest report indicates that wearable device OEMs will pocket over $40 Billion from annual device shipments in 2020.
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.
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.
SNS 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.
The “Wearable Technology Ecosystem: 2016 – 2030 – Opportunities, Challenges, Strategies, Industry Verticals & Forecasts” report presents an in-depth assessment of the wearable technology ecosystem including key market drivers, challenges, investment potential, consumer & vertical market opportunities, use cases, future roadmap, value chain, case studies, vendor market share and strategies. The report also presents forecasts for wearable device shipments and revenue from 2016 through to 2030. The forecasts are further segmented for 7 device form factor submarkets, 7 vertical markets, 6 regions and 73 countries.
The report will be of value to current and future potential investors into the wearable technology sector, as well as mobile operators, vertical enterprises, device OEMs and enabling technology providers who wish to broaden their knowledge of the ecosystem.
For further information concerning the SNS Research report "Wearable Technology Ecosystem: 2016 – 2030 – Opportunities, Challenges, Strategies, Industry Verticals and Forecasts" please visit:http://www.snstelecom.com/wearabletechnology
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About SNS Research
SNS Research is one of the most foremost market intelligence and consulting firms for the worldwide telecommunications industry, with a particular focus on wireless infrastructure and mobile devices. Developed by leading industry analysts our market intelligence and consultancy services provide unique insights to the global telecommunications industry with information ranging from niche details of mobile handset models to tracking to large network infrastructure contracts and cellular network operator metrics. Whether your focus is strategic decision making, service development, investment or marketing, our services will allow you to make optimal decisions with self-assurance.