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Wearable Technology Market Worth $196.5 Billion By 2022
The global wearable technology market is anticipated to reach USD 196.5 billion by 2022, according to a new study by Grand View Research, Inc. Research and development investment by large number of industry player is expected to fuel growth over the forecast period.
Increasing disposable income worldwide is expected to fuel industry growth over the forecast period. Technological advancement, price, quality, and battery life influence the buying decision of the end-users. The emergence of 3D printing solution and crowd funding is expected to positively impact the wearable technology market.
Increasing smartphone penetration worldwide is expected to propel industry growth over the forecast period, owing to increasing wearable device compatibility. Advancement in semiconductor electronics is expected to favor more efficient and effective products, thereby fuel revenue growth over the next seven years.
Access in-depth research report on Global Wearable Technology Market with charts and figures: http://www.grandviewresearch.com/industry-analysis/wearable-technology-market
Various health and economic benefits are expected to contribute to overall industry development. For instance, advertisement agencies can bring down research cost through the use of eye-wear, which can allow enhanced data collection of customers’ feedbacks. Low battery life and high cost of some of the devices may hinder the industry growth over the forecast period. Data privacy concern may also adversely affect the industry demand.
Further key findings from the study suggest:
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Grand View Research has segmented the wearable technology market on the basis of product, application and region:
Wearable Technology Product Outlook (USD Billion, 2012 – 2022)
Wearable Technology Application Outlook (USD Billion, 2012 – 2022)
Wearable Technology Regional Outlook (USD Billion, 2012 – 2022)
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.