European Wearable Technology Market
European Wearable Technology Market was valued at USD 308.69 million in 2013, growing at a CAGR of 42.1% from 2014 to 2019 to account for USD 2545.51 million in 2019
European Wearable Technology Market was valued at USD 308.69 million in 2013, growing at a CAGR of 42.1% from 2014 to 2019 to account for USD 2545.51 million in 2019
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<strong>European</strong> <strong>Wearable</strong> <strong>Technology</strong> <strong>Market</strong>: Germany and UK to Push<br />
<strong>Market</strong> at 42.1% CAGR during 2013-2019<br />
With increased demand for wearable devices in sectors such as healthcare, military, and<br />
infotainment, the wearable technology market in the region is expected to be valued at<br />
US$2,545.51 million by 2019.The report points out that the large installed base and rapid<br />
adoption of mobile products has fuelled the market for wearable devices in Europe.<br />
Advances in material sciences have led to compactness, multi-functionality, and easy use of<br />
wearable technology products. Increased application of wearable devices across various sectors<br />
has pushed the growth of the market.<br />
Limitation on the size of the power source of wearable devices is further expected to restrain the<br />
overall market. The report mentions that the rapid growth in sports and fitness wearable<br />
technology is expected to open new opportunities for the market.On the basis of application, the<br />
<strong>European</strong> wearable technology market has been segmented into infotainment, fitness and<br />
wellness, industry and military, and healthcare and medical. The report further compiles the<br />
various wearable devices used in each of the application segments. In the industry and military<br />
sector, augmented reality headsets, hand worn terminals, and other devices are commonly used.<br />
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Heart rate monitors, continuous glucose monitors, and wearable patches are some of the<br />
wearable technology devices used in the healthcare segment. Smart watches and smart glasses<br />
are much sought after in the infotainment sector. The fitness and wellness segment includes<br />
wearable devices such as running watches, sleep sensors, smart clothing, and activity monitors.<br />
In Europe, Germany was the largest market for wearable technology devices in 2012, with a<br />
share of 32%. Technological innovations are being introduced through various channels, which<br />
has led to increased adoption of wearable devices in the country. In the U.K., the <strong>Wearable</strong><br />
<strong>Technology</strong> Show held in London in 2014 witnessed innovative products such as Optinvent Ora<br />
– an alternative to Google Glass, and smart clothing in the form of body armor. The report<br />
mentions that the U.K. market for wearable devices will grow at a CAGR of 41.8% during the<br />
forecast horizon.
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Countries such as Denmark, Sweden, and Norway are also expected to grow rapidly in the<br />
<strong>European</strong> wearable technology market.Some of the key players in the wearable technology<br />
market are Microsoft, Nike, Samsung, Google Inc., Sony, and Adidas.<br />
The research study has been segmented as below:<br />
<strong>Wearable</strong> technology <strong>Market</strong>: By applications<br />
•Fitness and Wellness<br />
•Infotainment<br />
•Healthcare and Medical<br />
•Industrial and Military<br />
<strong>Wearable</strong> technology <strong>Market</strong>: By products<br />
•Smart clothing and smart sport glasses<br />
•Activity monitors<br />
•Sleep sensors<br />
•Smart watches<br />
•Heads-Up displays<br />
•Smart glasses<br />
•Continuous glucose monitor<br />
•Drug delivery<br />
•Monitors
•<strong>Wearable</strong> patches<br />
•Hand worn terminals<br />
•Augmented reality headsets<br />
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