Two recent articles on SAT Press Releases discuss two different research reports involving analysis of the smart glass market and the wearable technology market respectively.
‘Smart Glass Market for Construction, Mining, and Other Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021’ was released by Zion Market Research, which includes:
- In 2015, the global demand for the smart glass market was valued at $2.1 billion. This is expected to increase to $6.56 billion by 2021, and grow at a compound annual growth rate of over 19% from 2016 to 2021.
- Drivers for the market include: increased demand for energy efficient and eco-friendly products, government support, and large investment for innovative products in the automobile industry.
- Challenges of the market include: limited commercialisation and inadequate awareness.
- Smart glasses reduce maintenance cost and cost efficiency.
- North America is the largest market in terms of smart glass production and consumption, although is it predicted that Europe will have significant growth from 2016 to 2021. China also has high growth due to advanced tech and government support.
‘Wearable Technology Market – Top Players (Medtronic, Adidas, Nike, Abbott, Eurotech, Sony, Suunto, Google); Worldwide Scenario, Trends, Manufacturing Future Estimate 2024’ was released by Transparency Market Research, which includes:
- In 2012, the global wearable technology market was worth $750 million. This is expected to reach $5.8 billion by 2018, making a compound annual growth rate of 40.8%.
- The market is categorised into: fitness and wellness, the infotainment sector, the healthcare and medical sector, and the industrial and military category, all of which are further subcategorised.
- In 2012, the medical and healthcare sector had a 35.1% share of the market.
- The healthcare sector was the largest user of wearables, followed by fitness and wellness.
- North America is the leading region due to tech awareness, affluence, and health-consciousness in the population; it is predicted to have a 43% share by 2019.