GLOBAL WEARABLE COMPUTING DEVICES MARKET ANALYSIS

Market Challenges And Opportunities

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.

Increasing adoption of smart watches and wristbands in consumer electronics sector is one of the major factors driving growth of the market

The increasing adoption of smart watches and wristbands among consumers is one of the major factors driving growth of the wearable computing devices market. For instance, according to the Coherent Market Insights’ analysis, the total sales of smart watches in 2016 accounted for US$ 36 million, which increased to US$ 76 million in 2017, globally. Rising inclination of the populace towards fitness, is expected to increase demand for wearable computer devices to help doctors monitor health of patients remotely. This in turn, is expected to help prevent deaths related to health issues such as obesity, heart attacks, asthma, and diabetes. These wearable computing devices are used to track various health parameters such as body temperature, blood pressure 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.