According to a recent report published by Allied Market Research, titled, "Enterprise Wearable Market by Product Type, Technology, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global enterprise wearables market was valued at $3,232 million in 2016, and is projected to reach at $32,418 million by 2023, growing at a CAGR of 38.8% from 2017 to 2023.
North America dominates this market presently, followed by Europe. In 2016, China dominated the market in Asia-Pacific; similarly, Germany led the overall market in the European region. At present, the U.S. dominates the market in North America.
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Rise in healthcare awareness and increase in mobile penetration drive the demand for the enterprise wearables market. Further, the benefits such as ease of use, flexibility, and convenience fuels the market growth rate. However, high cost of enterprise wearables and rising data security and privacy concern impedes the market growth.
In 2016, the Bluetooth technology segment dominates the global enterprise wearables in technology segment, in terms of revenue. However, based on product type, wrist wear and head wear leads the global market followed by eye wear in year 2016.
Healthcare segment leads the enterprise wearables market by end user in 2016 in terms of revenue. However, aerospace & defense segment is anticipated to depict highest CAGR throughout the forecast period.
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KEY FINDINGS OF ENTERPRISE WEARABLES MARKET STUDY:
- Wrist wear generated the highest revenue of the global electric vehicle chargers market, in 2016.
- In 2016, Bluetooth technology generated the highest revenue among the enterprise wearables market.
- Asia-Pacific is anticipated to exhibit a highest CAGR during the forecast period.
- In 2016, the healthcare segment contributed the highest market shares in the enterprise wearables market.
The key players profiled in the report include Apple Inc., Alphabet Inc., Adidas AG, Eurotech S.p.A, Fitbit Inc., Samsung Electronics Co. Ltd, Sony Corporation, Seiko Epson Corporation, Misfit Inc., and Xiaomi Inc.
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