Wearable technology refers to accessories and clothing that are embedded with technologically advanced electronic devices. The commercial prospects for
this industry are rising significantly in the global perspective. The global wearable technology materials market is expected to witness rising demand in
the coming years due to the rapid technological development of wearable devices across the globe. In 2015, the value of sensors used in wearable devices
was worth US$700 million and is estimated to touch US$5.8 billion by the end of 2025.
The wearable technology materials market is an innovative and emerging market and is
anticipated to enjoy great opportunities for new technology across the globe, owing to the shift of electronics manufacturers from producing bulky devices
to a wide range of fashionable alternatives. It is estimated that in the coming decade, more than US$100 billion will be spent on R&D in the global
wearable technology materials market.
Consumer Demand to Promote Development of Power-efficient, Easily Disposable Wearable Tech
The wearable technology materials market has enjoyed stellar demand for products that are easily implantable and disposable. Another demand from the
consumers is that the material should be transparent or easily hidden in or under regular clothing, so as to not their personal aesthetic choices. These
factors are expected to dominate R&D efforts in the wearable technology materials market.
On the other hand, the biggest restraint faced by the consumers of this market is the low capacity of batteries employed in wearable technology at present.
Wearable technologies are drained of electricity in a couple of hours and need frequent charging, which is not feasible for the consumers. This can also
turn into a life-threatening issue in the healthcare industry, where wearable technology comprises smart contact lenses, exoskeletons, and wristbands that
determine various bodily signs such as blood glucose levels.
Prominent Market Players to Expand Range of Products to Enjoy Competitive Advantage
The innovative wearable technology market offers great potential for transformative changes in various industries. Some of the other industries to adopt
this technology are healthcare, clothing, and sports and fitness. Most of the industries are embracing wearable technology as wireless communications and
computing are blending wearable tech into virtually all aspect of products and services.
Companies operating in the global wearable technology materials market are in a nascent stage and are projected to grow enormously in the coming years.
Some of the prominent players in this market are GSI, T-Ink, Samsung, Paper Battery, Sekisui Chemical Co. Ltd., Soligie, Grafen Chemical Industries,
Adidas/Textronics, Bando Chemical Industries, Fujikura Kasei Co. Ltd., and Sumitomo Chemical and CDT.
Most of these market players are taking great efforts to develop primary and intermediate wearable materials, which will help in acquiring a large share of
the market. The global wearable technology materials market is offering several opportunities for new entrants, which will help them establish and expand
their business niche in the near future.
The global wearable technology materials market has already showcased its initial development in the consumer electronics industry after the launch of the
Apple Watch and the Moto 360 smartwatch. This market has also established a strong presence in the healthcare industry, introducing apparel that can track
heart rate as well as monitoring and tracking devices for pets.
Browse the full Global Wearable Technology Materials Market report at http://www.mrrse.com/wearable-technology-materials