Wearable Security Device Market Overview:

The higher rate of adoption of Wearable Security Devices Market in military, tracking and emergency services are increasing rapidly which is helping the market to grow significantly. Most of the smart wearable devices are easily connected with the help of Bluetooth, wi-fi or RFID, providing uninterrupted short distance connectivity with either central device or centrally located device.

The Wearable Security Device Market has the possibility to reach USD 415.12 billion by 2030 at a CAGR of 19.12%. Based on product type, the market is segmented into smartwatches, smart jewellery, smart shoes, smartphones, smart clothes, and eyewear. At present, the market is highly occupied by smartwatches and smartphones. There is a huge development going on in smart shoes and smart clothes showing a huge demand in upcoming future.

On the basis of connectivity, the market is segmented into, Wi-Fi, Bluetooth, RFID, and others. Among these, the market is highly occupied by Bluetooth and Wi-Fi connectivity. Based on the Wearable Security Device Market is segmented into iOS, Android, and others. Although the presence of Android devices outnumbers iOS devices. On the basis of the operating system, the market is occupied by the Android operating system and will continue to grow during the forecast period.

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 Major Key Players:

The report issued by MRFR includes a profiling of many prominent players including Apple, Inc (U.S.), Google LLC (U.S.), Fitbit (U.S.), Samsung Electronics (SSNLF), Carré Technologies Inc (Canada), Microsoft Corporation (U.S.), Garmin Ltd (Switzerland), Amulyte, Inc (U.S.), Epson (Japan), Intel Corporation (U.S.), and LG Electronics (South Korea).

Other players present in the market include Fin Robotics, Inc (U.S.), FINIS, Inc. (U.S.), Fujitsu Ltd (Japan), Oath Tech Network Aol Tech (U.S.), Laster Technologies (France), Geo, Group Inc (U.S.), GeoPalz LLC (U.S.), Sony Corporation (Japan), Vuzix (U.S.), and Qualcomm Connected Experiences, Inc (U.S.).

 Market Segmentation:

The MRFR report has been based on various segments to conduct a detailed and accurate analysis. Segmentation of the market has been performed on the basis of product type, connectivity, operating system, and application. The wearable security devices market has been segmented into smartwatches, smart jewellery, smart shoes, smart clothes, eyewear, and smartphones on the basis of product type. Significant development is observed in the segments of smart shoes and smart clothing, creating potential opportunities for market growth in the near future.

Based on connectivity, the wearable security device market is segmented into Wi-Fi, Bluetooth, and RFID. The Bluetooth and Wi-Fi connectivity segments dominate the wearable security device market. By operating system, the wearable security device market has been segmented into iOS and Android. The segment of android operating system is currently holding a significant share of the wearable security devices market and is likely to grow exponentially during the forecast period.

Based upon application, the market is segmented into emergency service applications, tracking applications, military applications, and biometric recognition.

 Detailed Regional Analysis:

The global wearable security devices market is estimated to reach a market value of USD 6 billion by the end of 2023. Region-specific segments of the wearable security devices market include North America, Asia Pacific (including Australia), Europe (including Russia), and the Rest of the World (RoW) (including the Middle East & Africa and Latin America).

North America is currently observed to lead the wearable security devices market owing to increased adoption of robotics and the smart device technology. Also, the presence of many prominent players in the region is bound to encourage significant growth in the wearable security devices market. The United States is likely to govern the country-specific market for wearable security devices in North America, due to many startups entering partnerships and collaborations with industry giants such as Apple, Fitbit, and Garmin.

The Asia Pacific is anticipated to record fastest growth rate, owing to a rise in the adoption of smartphones and an increase in the use of smartphone applications in the region. Europe is expected to grasp the second largest share of the wearable security devices market owing to the presence of technologically advanced infrastructure in the region.

 Industry Update:

March 2019: Department of Homeland Security Science & Technology (DHS S&T), (U.S.) is designing wearable security devices that are compatible with the FirstNet’s IT infrastructure and interoperable between different agencies. 

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List of Tables

Table1 World Population by Major Regions (2017 To 2030) 

Table2 Global Wearable Security Devices Market: By Region, 2017-2023 

Table3 North America Wearable Security Devices Market: By Country, 2017-2023 

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List of Figures

Figure 1 Global Wearable Security Devices Market Segmentation

Figure 2 Forecast Methodology

Figure 3 Porter’s Five Forces Analysis of Global Wearable Security Devices Market

Continued…

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