Wearable Technology Market (Devices) Worth $40B - Over 240 Million Annual Unit Shipments by 2020, Says a 2016 Report

PUNE, India, May 4, 2016 /PRNewswire/ --

The 2016 research on wearable technology market 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.

Complete report wearable technology market spread across 652 pages, analyzing 465 companies and providing 219 data figures is now available at http://www.rnrmarketresearch.com/the-wearable-technology-ecosystem-2016-2030-opportunities-challenges-strategies-industry-verticals-and-forecasts-market-report.html .

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. 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.