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Deep Research: The Wearable Technology Ecosystem: 2018 – 2030 – Opportunities, Challenges, Strategies, Industry Verticals And Forecasts

Estimates that wearable device shipments will grow at a CAGR of approximately 22% between 2018 and 2021. By the end of 2021, wearable devices will represent a market worth $45 Billion with over 250 Million annual unit shipments.

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 smartwatches and fitness trackers to smart glasses to hearables.

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 Telecom & IT estimates that wearable device shipments will grow at a CAGR of approximately 22% between 2018 and 2021. By the end of 2021, wearable devices will represent a market worth $45 Billion with over 250 Million annual unit shipments.

The “Wearable Technology Ecosystem: 2018 – 2030 – Opportunities, Challenges, Strategies, Industry Verticals & Forecasts” report presents an in-depth assessment of the wearable technology ecosystem including market drivers, challenges, enabling technologies, consumer and enterprise applications, key trends, case studies, opportunities, future roadmap, value chain, ecosystem player profiles, vendor market share and strategies. The report also presents forecasts for wearable device shipments and revenue from 2018 through to 2030. The forecasts cover 9 device form factor submarkets, 7 vertical markets, 6 regions and 73 countries.

The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report.

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Topics Covered

The report covers the following topics:

  • Wearable technology ecosystem
  • Market drivers and barriers
  • Key enabling technologies and concepts including low cost sensors, wireless connectivity, voice recognition and augmented reality
  • Analysis of vertical markets and applications – for consumer, healthcare, professional sports, retail & hospitality, military, public safety and 8 other sectors
  • Case studies of 10 wearable technology deployments – reviewing solutions, vendors, applications and feedback from end users
  • Wearable device vendor market share
  • Prospects of smartphone OEMs and cellular chipset suppliers in the wearable technology ecosystem
  • Impact of 5G NR (New Radio), cellular IoT and ProSe (Proximity Services) on wearable technology
  • Industry roadmap and value chain
  • Profiles and strategies of more than 360 leading ecosystem players including wearable technology suppliers and vertical domain specialists
  • Strategic recommendations for enabling technology providers, wearable device OEMs, application developers and mobile operators
  • Market analysis and forecasts from 2018 till 2030

Forecast Segmentation

Market forecasts on are provided for each of the following submarkets and their subcategories:

Form Factor Submarkets

  • Smart Bands
  • Smartwatches
    • OS-Powered Smartwatches
    • Basic Smartwatches
  • Smart Glasses
  • Smart Clothing
  • Smart Earwear
  • Smart Jewelry
  • Heads-up Displays
  • Others

Vertical Submarkets

  • Consumer
  • Healthcare
  • Professional Sports
  • Retail & Hospitality
  • Military
  • Public Safety
  • Others

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Regional Markets

  • Asia Pacific
  • Eastern Europe
  • Latin & Central America
  • Middle East & Africa
  • North America
  • Western Europe

Country Markets

73 Country level markets: Algeria, Argentina, Australia, Austria, Bangladesh, Belarus, Belgium, Bolivia, Bosnia & Herzegovina, Brazil, Bulgaria, Canada, Chile, China, Colombia, Croatia, Czech Republic, Denmark, Ecuador, Egypt, Finland, France, Germany, Greece, Hong Kong, Hungary, India, Indonesia, Ireland, Israel, Italy, Japan, Kenya, Luxembourg, Malaysia, Mexico, Morocco, Netherlands, New Zealand, Nigeria, Norway, Pakistan, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Serbia, Singapore, Slovakia, South Africa, South Korea, Spain, Sudan, Sweden, Switzerland, Taiwan, Tanzania, Thailand, Tunisia, Turkey, UAE, UK, Ukraine, Uruguay, USA, Uzbekistan, Venezuela and Vietnam

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Key Questions Answered

The report provides answers to the following key questions:

  • How big is the wearable technology ecosystem?
  • What trends, challenges and barriers are influencing its growth?
  • How is the ecosystem evolving by segment and region?
  • What will the market size be in 2021 and at what rate will it grow?
  • Which vertical markets will see the highest percentage of growth?
  • How do standardization and regulation impact the adoption of wearable technology for the healthcare industry and other sectors?
  • What opportunities exist for cellular chipset suppliers in the wearable technology ecosystem?
  • How can mobile operators capitalize on the growing popularity of smartwatches, fitness bands, smart glasses and other wearable devices?
  • What are the future prospects of hearables and other emerging form factors?
  • Who are the key ecosystem players and what are their strategies?
  • What strategies should wearable technology suppliers and vertical domain specialists adopt to remain competitive?

Key Findings

The report has the following key findings:

  • SNS Telecom & IT estimates that wearable device shipments will grow at a CAGR of approximately 22% between 2018 and 2021. By the end of 2021, wearable devices will represent a market worth $45 Billion with over 250 Million annual unit shipments.
  • In terms of annual wearable device unit shipments, the top 5 vendors –  Apple, Xiamo, Fitbit, Samsung and Garmin – collectively account for more than 55% of the market.
  • Cellular connectivity and associated advanced capabilities – such as VoLTE (Voice over LTE) – are increasingly being integrated into consumer oriented wearables such as smartwatches.
  • SNS Telecom & IT estimates that wearable devices will help mobile operators drive more than $12 Billion in service revenue by the end of 2021, following a CAGR of approximately 36% between 2018 and 2021.
  • As wearable technology vendors seek to minimize dependence on hardware sales, new business models are continuing to gain popularity – ranging from corporate wellness programs to sports performance analytics.

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List of Companies Mentioned

  • 270 Vision
  • 3L Labs
  • 4DForce
  • 4iii Innovations
  • 9Solutions
  • Abbot Laboratories
  • Acer
  • AcousticSheep
  • Active Mind Technology
  • Adidas
  • AGPtek
  • AliveCor
  • Alphabet
  • Amazon
  • Amber Alert GPS
  • Ambit Networks
  • AMD (Advanced Micro Devices)
  • AngelSense
  • Anthem Insurance Companies
  • Aplus
  • Appirio
  • Apple
  • ARA (Applied Research Associates)
  • Archos
  • ARM Holdings
  • Arrow Technologies
  • Arubixs
  • ASUS (ASUSTeK Computer)
  • AT&T
  • Atellani
  • Atheer Labs
  • Atlas Wearables
  • Augmendix
  • Avegant
  • AVG
  • Axon
  • BAE Systems
  • Baidu
  • BBK Electronics Corporation
  • Beddit
  • Behavioral Technology Group
  • Bellabeat
  • BI (GEO Group)
  • Biosensics
  • Bitbanger Labs
  • Blocks Wearables
  • Bmorn
  • bOMDIC
  • Bondara (Nagook)
  • Boston Scientific Corporation
  • BRAGI
  • Breitling
  • Broadcom
  • Brother Industries
  • BSX Athletics
  • BTS Bioengineering
  • Bulgari
  • Caeden
  • Casio
  • Catapult Sports
  • Chronos Wearables
  • Citizen
  • Cityzen Sciences
  • Codoon
  • CommandWear
  • CompeGPS
  • Connect America
  • ConnecteDevice
  • Cooey
  • Cool Shirt Systems
  • Cordon
  • Creoir
  • Cyberdyne
  • Cypress Semiconductor Corporation
  • DAQRI
  • DARPA (Defense Advanced Research Projects Agency)
  • Dell
  • Dexcom
  • DHL
  • Dialog Semiconductor
  • DIGICare Technology
  • Digitsole
  • DK Tek Innovations
  • Doki Technologies
  • DorsaVi
  • Dubai Customs
  • Dubai Police
  • Ducere
  • Ekso Bionics
  • Electric Foxy
  • Emotiv Systems
  • Empatica
  • Enjoy S.R.L
  • Epson (Seiko Epson Corporation)
  • EuroTech
  • Evena Medical
  • Exelis
  • EyeTap
  • Facebook
  • FashionTEQ
  • Fat Shark
  • Fatigue Science
  • Finis
  • Fisher-Price
  • FitBark
  • Fitbit
  • Flex
  • Florida State University
  • Force Impact Technologies
  • Fossil Group
  • FOVE
  • Fujitsu
  • Garmin
  • GEAK (Shanda Group)
  • Gemalto
  • General Dynamics Mission Systems
  • Georgia Institute of Technology
  • Ginger.io
  • GlassUp
  • Glofaster
  • GN Store Nord
  • Google
  • GoPro
  • GOQii
  • Guess
  • Harris Corporation
  • HealBe
  • HereO
  • Hexoskin (Carre Technologies)
  • Hollywog
  • Honeywell International
  • Hövding
  • HP
  • HTC Corporation
  • Huami
  • Huawei
  • iBerry
  • ICEdot
  • ICON Health and Fitness
  • iHealth Labs
  • iLOC Technologies
  • Imagination Technologies
  • Imec International
  • Immerz
  • IMU (I Measure U)
  • Ineda Systems
  • Innovega
  • Instabeat
  • Intel Corporation
  • InteraXon
  • Intex Technologies
  • InvenSense
  • Iotera
  • iRhythm Technologies
  • Iron Will Innovations
  • ITAMCO (Indiana Technology and Manufacturing Companies)
  • Jabil Circuit
  • Jaguar Land Rover
  • Jaybird
  • JINS (JIN CO.)
  • Johnson & Johnson
  • Joyray Technology
  • Kairos Watches
  • KDDI Corporation
  • Kerv Wearables
  • Ki Performance Lifestyle
  • Kiwi Wearable Technologies
  • KMS Solutions
  • Kokoon
  • Kopin Corporation
  • KoruLab
  • Kronoz
  • Kuaiwear
  • L3 Technologies
  • Laster Technologies
  • Le Vise Products
  • Leaf Healthcare
  • LeapFrog Enterprises
  • Lenovo
  • Lepow
  • Levi Strauss & Co.
  • LG Electronics
  • LifeBEAM
  • LifeLogger Technologies Corporation
  • Limmex
  • Lineable
  • Linkitz
  • Liquid Image
  • Livall
  • Lockheed Martin Corporation
  • LOSTnFOUND
  • Lumafit
  • Lumo BodyTech
  • Lumos
  • Lumus
  • Luxottica
  • Lycos
  • Lyle & Scott
  • Mad Apparel
  • Magellan (MiTAC Digital Corporation)
  • MainTool
  • Martian Watches
  • Mastercard
  • Matilde
  • Mattel
  • MC10
  • McLear
  • MediaTek
  • Medisafe
  • Medtronic
  • Merge Labs
  • META
  • Microsoft Corporation
  • Mimi Hearing Technologies
  • Mio Global
  • Misfit
  • Moff
  • Mondaine Watch
  • Mondevices
  • Montblanc
  • Moov
  • Moticon
  • Motion Fitness
  • Motorola Mobility
  • Mozilla Corporation
  • Mutualink
  • Myontec
  • Neptune
  • NeuroPro
  • NeuroSky
  • New Balance
  • Newell Rubbermaid
  • Nike
  • Nixie Labs
  • Nixon
  • Nokia
  • Nortek Security & Control
  • Notch Interfaces
  • Now Computing
  • NTT DoCoMo
  • Nuance Communications
  • Nuubo
  • NVIDIACorporation
  • NXP Semiconductors
  • Nymi
  • NZN Labs
  • OAXIS
  • Oculus VR
  • ODG (Osterhout Design Group)
  • Omate
  • Omron Corporation
  • OMsignal
  • Opening Ceremony
  • OPPO
  • Optalert
  • Optinvent
  • OrCam Technologies
  • OriginGPS
  • Orion Labs
  • Orpyx Medical Technologies
  • O-Synce
  • Otsuka Pharmaceutical Company
  • ?URA
  • Owlet Baby Care
  • Panasonic Corporation
  • Pebble
  • Perceptive Devices
  • Perpetua Power Source Technologies
  • PFO Tech
  • PHTL (PH Technical Labs)
  • Pivothead
  • Pixie Scientific
  • Plantronics
  • PNI Sensor
  • Polar Electro
  • Preventice Solutions
  • Proteus Digital Health
  • PSI-PAY
  • Pulse
  • PUSH
  • Qardio
  • Qualcomm
  • Ralph Lauren
  • Raytheon Company
  • Razer
  • Recon Instruments
  • Reebok International
  • Reemo
  • Rest Devices
  • ReVault
  • Revolutionary Tracker
  • Ringly
  • Rooti Labs
  • RSL Steeper Group
  • Rufus Labs
  • S3 ID
  • Safelet
  • Salesforce.com
  • Salutron
  • Samsung Electronics
  • Sarvint Technologies
  • Seiko Holdings Corporation
  • SenseGiz Technologies
  • Sensiia
  • Senso Solutions
  • Sensoplex
  • Sensoria
  • Sentimoto
  • Shenzen Smart Co.
  • Shenzhen Glory Union Electronic Company
  • ShiftWear
  • Shimmer
  • ShotTracker
  • Si14
  • SIGMA-ELEKTRO
  • Simple Matters
  • SITA
  • SmartCap Technologies (EdanSafe)
  • SMI (SensoMotoric Instruments)
  • SMS Audio
  • Snap (Formerly Snapchat)
  • Snowpow (Shenzhen Snopow Outdoor Technology)
  • Somaxis
  • Sony Corporation
  • Sony Mobile Communications
  • Sotera Wireless
  • Soundbrenner
  • Spice Mobiles
  • Spire
  • SpotNSave
  • Spree Wearables
  • Sproutling
  • Sqord
  • Stalker Radar (Applied Concepts)
  • Starbreeze Studios
  • STATSports
  • STMicroelectronics
  • Striiv
  • Sunbeam Products
  • Suunto
  • Swatch Group
  • T.Ware
  • Tag Heuer
  • TCL Communication
  • Thales
  • Thalmic Labs
  • The Walt Disney Company
  • Theatro
  • Thimble Bioelectronics
  • TI (Texas Instruments)
  • Timex Group
  • TLink Golf
  • TN Games
  • Tobii Group
  • TomTom
  • Touch Bionics
  • TrackingPoint
  • Trivoly Technology
  • TU Wien (Vienna University of Technology)
  • U.S. Army
  • U.S. Department of Defense
  • U.S. FDA (Food and Drug Administration)
  • Ubimax
  • U-blox
  • Under Armour
  • Valencell
  • Validic (Motivation Science)
  • Vancive Medical Technologies (Avery Dennison Corporation)
  • Vector
  • Vigo
  • Virgin Atlantic Airways
  • Visa
  • Vivo
  • VSN Mobil
  • Vtech
  • Vuzix
  • Wahoo Fitness
  • Wavelet Health
  • Wearable  X
  • Weartrons Labs
  • Weenect
  • Wellograph
  • Whereables B.V.
  • Whistle Labs
  • Whoop
  • Wipro
  • Withings
  • WorldSIM
  • WTS (Wonder Technology Solutions)
  • Xdream (TickTalk)
  • Xensr
  • Xiaomi
  • Xmetrics
  • XOEye Technologies
  • Xybermind
  • Yingqu Technology
  • Yost Labs
  • Zackees
  • Zebra Technologies
  • ZEISS
  • Zephyr Technology Corporation
  • Zepp Labs
  • ZGPax (Shenzhen PGD Digital Technology)
  • Zoll Medical Corporation
  • ZTE

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Table of Contents

1 Chapter 1: Introduction 30
1.1 Executive Summary 30
1.2 Topics Covered 32
1.3 Forecast Segmentation 33
1.4 Key Questions Answered 35
1.5 Key Findings 36
1.6 Methodology 37
1.7 Target Audience 38
1.8 Companies & Organizations Mentioned 39

2 Chapter 2: An Overview of Wearable Technology 43
2.1 What is Wearable Technology? 43
2.2 Device Classification 43
2.2.1 Head-Worn Devices 43
2.2.2 Wrist-Worn Devices 43
2.2.3 Leg and Ankle-Worn Devices 44
2.2.4 Arm, Chest and Neck-Worn Devices 44
2.2.5 Smart Clothing & Jewelry 44
2.2.6 In-Body Wearables 45
2.3 Enabling Technologies 46
2.3.1 MEMS & Sensors 46
2.3.2 BT-LE (Bluetooth Low Energy) & Wi-Fi 46
2.3.3 Voice Recognition 47
2.3.4 Lowed Powered Wireless SoCs 47
2.3.5 RFID & NFC 48
2.3.6 GPS & Navigation Technology 48
2.3.7 Energy Harvesting 48
2.3.8 Ergonomics & Materials Science 49
2.3.9 Augmented Reality 49
2.4 Market Growth Drivers 50
2.4.1 Proliferation of Smartphones 50
2.4.2 Advances in Enabling Technologies & Components 50
2.4.3 Interest from New Market Segments 51
2.4.4 Human Centric Assistance 51
2.4.5 Meaningful Analytics & Tracking 51
2.4.6 Venture Capital, Crowdfunding & Corporate Investments 52
2.4.7 Endorsement by Major Mobile OEMs 52
2.5 Market Barriers 52
2.5.1 High Costs 52
2.5.2 Power Consumption & Battery Life Issues 53
2.5.3 Usability & Unusual Styling 53
2.5.4 Potential Health Issues 53
2.5.5 Privacy & Security Concerns 54
2.5.6 Social Acceptance 54

3 Chapter 3: Vertical Opportunities & Use Cases 55
3.1 Consumer Markets 55
3.1.1 Infotainment & Lifestyle 55
3.1.1.1 Personal Assistance, Notifications & Alerts 55
3.1.1.2 Photography 56
3.1.1.3 Navigation Assistance 56
3.1.1.4 Smart Home Applications 56
3.1.1.5 Media & Entertainment 57
3.1.1.6 Memory Recall 57
3.1.2 Casual Sports & Fitness 57
3.1.3 Contactless Payments 58
3.1.4 Gaming 58
3.1.5 Pet Care 59
3.1.6 Child Care & Entertainment 59
3.1.7 Helping People with Disabilities 60
3.1.8 Car Insurance Claims 60
3.1.9 Accurate & Targeted Marketing 60
3.2 Healthcare 61
3.2.1 Remote Patient Monitoring 61
3.2.2 Assisted Patient Examination 61
3.2.3 Reducing Healthcare Costs 61
3.2.4 Optimizing Health Insurance Costs 62
3.2.5 Enhancing Medical R&D 62
3.3 Professional Sports 63
3.3.1 Sports Data Analytics 63
3.3.2 Enhancing Real-Time Decision Making 63
3.3.3 Injury Prevention 63
3.4 Retail & Hospitality 64
3.4.1 Improving Retail Productivity 64
3.4.2 Comparing & Contrasting Retail Items 64
3.4.3 Travel: Personalizing Customer Service 64
3.4.4 Replacing Hotel Keys and Credit Cards 65
3.4.5 Augmenting City & Museum Tours 65
3.5 Military 66
3.5.1 Enhancing Infantry Tactics: Shooting Without Being Shot 66
3.5.2 Monitoring Combat Stress & Injuries 66
3.5.3 Enhancing Situational Awareness in the Battlefield 67
3.5.4 Enabling Battlefield Mobility 68
3.5.5 Facilitating Communications with Military Dogs 69
3.6 Public Safety 69
3.6.1 Recording Criminal Evidence 69
3.6.2 Enhancing Situational Awareness & Assets Coordination 70
3.6.3 Identifying Suspects & Traffic Violators 70
3.6.4 Monitoring Biophysical Activity for First Responders 70
3.6.5 Enhancing Fire Fighting Capabilities 71
3.6.6 Improving Response to Medical Emergencies 71
3.7 Other Verticals 72
3.7.1 Construction Industry 72
3.7.2 Mining Industry 72
3.7.3 Manufacturing Operations 73
3.7.4 Logistics & Supply Chain 73
3.7.5 Financial Services 73
3.7.6 Security & Authentication 74
3.7.7 Repair, Inspection & Field Services 74
3.7.8 Education 74
3.8 Case Studies 75
3.8.1 Appirio: Cutting Health Insurance Costs with Fitbit 75
3.8.1.1 Solution & Vendors 75
3.8.1.2 Applications 75
3.8.1.3 Feedback from the Field 76
3.8.2 AT&T: Connected Healthcare Monitoring for the Elderly 77
3.8.2.1 Solution & Vendors 77
3.8.2.2 Applications 77
3.8.2.3 Feedback from the Field 78
3.8.3 DHL: Implementing Vision Picking with Smart Glasses 79
3.8.3.1 Solution & Vendors 79
3.8.3.2 Applications 79
3.8.3.3 Feedback from the Field 80
3.8.4 Dubai Police: Catching Speeding Drivers with Google Glass 82
3.8.4.1 Solution & Vendors 82
3.8.4.2 Applications 82
3.8.4.3 Feedback from the Field 83
3.8.5 Florida State University: Reducing Sports Injuries with Wearable Performance Tracking 84
3.8.5.1 Solution & Vendors 84
3.8.5.2 Applications 84
3.8.5.3 Feedback from the Field 85
3.8.6 KDDI Corporation: Ensuring Child Safety with Smartwatches 86
3.8.6.1 Solution & Vendors 86
3.8.6.2 Applications 86
3.8.6.3 Feedback from the Field 87
3.8.7 Medisafe: Improving Medication Adherence with Wearable Technology 88
3.8.7.1 Solution & Vendors 88
3.8.7.2 Applications 88
3.8.7.3 Feedback from the Field 89
3.8.8 The Walt Disney Company: Theme Park Management with Wearable Technology 90
3.8.8.1 Solution & Vendors 90
3.8.8.2 Applications 90
3.8.8.3 Feedback from the Field 91
3.8.9 U.S. Department of Defense: Delivering Tactical Information with Wearable Display Systems 92
3.8.9.1 Solution & Vendors 92
3.8.9.2 Applications 92
3.8.9.3 Feedback from the Field 94
3.8.10 Virgin Atlantic Airways: Enhancing Airline Services with Wearable Technology 95
3.8.10.1 Solution & Vendors 95
3.8.10.2 Applications 95
3.8.10.3 Feedback from the Field 96

4 Chapter 4: Industry Roadmap & Value Chain 97
4.1 Wearable Technology Industry Roadmap 97
4.1.1 Pre-2020: Growing Proliferation of Wearables & Emerging Business Models 97
4.1.2 2020 – 2025: Increasing Focus on Enterprise Markets & Use Cases 98
4.1.3 2025 – 2030: Growth in Mobile Operator Service Revenues 99
4.2 The Wearable Technology Value Chain 100
4.2.1 Enabling Technology Ecosystem 100
4.2.1.1 Chipset Vendors 100
4.2.1.2 Sensor, Display & Enabling Hardware Providers 101
4.2.1.3 OS & Software Providers 101
4.2.1 Wearable Device OEM Ecosystem 101
4.2.1.1 Vertical Centric OEMs 101
4.2.1.2 Smartphone, Tablet & Consumer Electronics OEMs 101
4.2.1.3 Fashion & Watch OEMs 102
4.2.2 Consumers & Vertical Enterprises 102
4.2.3 Mobile Operators & the Connectivity Ecosystem 102
4.2.4 Applications Ecosystem 102

Continue…

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