Asia Pacific Wearable Technology Market, By Product Type (Wristwear, Eyewear, Footwear, Neckwear, Bodywear, Others), By Industry (Consumer Products, Healthcare, Industrial, and Others), By Type (Smart Textile (Passive, Active, Ultra Smart) (Sensing, Energy Harvesting, Luminiscence, Thermo Electricity), Non-Textile), By Technology, By Component, By Country (Japan, China, India, South Korea, Australia, Singapore, Taiwan, Malaysia, Rest of APAC) – Trends and Forecast to 2022
The new market Asia Pacific (APAC) Wearable Devices Market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
The APAC wearable devices market is segmented based on industry into consumer products, healthcare, industrial, and others. The growth of wearable devices market in the consumer products industry is owing to the increasing demands for wristwear and bodywear products growing in this market. Based on product type the wearable devices market is segmented into wristwear, eyewear, footwear, neckwear, bodywear, and others. Wrist wearable products are likely to grow in popularity in the coming years. The market is growing with increasing sales of smartwatches expected to be launched by leading players. It is expected that with major companies foraying into the market such as Apple and Samsung, the look and feel for wearables would increase immensely. These devices are targeting the fashion sense and the health necessity hence doubling the growth of the market. Initially these products were for the priviledged but with Chinese players launching their products in developing nations, the market in South Asian and South American countries are expected to drive the growth of the market.
Based on geography the APAC wearable devices market is segmented into 9 countries, Japan, China, India, South Korea, Australia, Singapore, Taiwan, Malaysia and Rest of APAC. Japan is expected to dominate the market due to strong awareness of pedometers and smart watches in this region. The rising pool of chronic diseases like obesity and diabetes is also the major factors in development of this market. Also the rising trend of smart wearable and cheap products launched in China and India, is expected to make these countries key revenue pockets for this market.
There are a large number of players operating in this market, especially in the consumer devices market. Some of the major players in the wearable devices market are Adidas AG, Apple, Inc., Fitbit, Inc., Garmin, Ltd., Google, Inc., Jawbone, Inc., LG Electronics Inc., Nike, Inc., Pebble Technology Corp., Qualcomm, Inc., Samsung Electronics Co., Ltd., Sony Corporation, and Xiaomi Technology Co., Ltd. among other vernacular players.