Tag: smart watches

Wearables gain ground in the Middle East

Companies throughout that region are taking a closer look at wearable technology and are making investments.

Businesses throughout the Middle East are starting to look at wearables more seriously and this is being reflected in the growing investment that is being seen in these types of mobile devices.

That said, this doesn’t mean that there aren’t any more barriers in the way of the growth of this industry.

Organizations throughout the Middle East are increasingly starting to build business models based on the use of werables. Predictions from industry analysts are suggesting that over the next three years there will be substantial growth seen in the use and investment into wearable technology. Among the reasons that this industry is being driven forward is that there is a broader availability to the type of devices and features that are available, but also they are becoming more familiar.

As certain types of wearables become more mainstream, it opens the door to the adoption of others.

Wearables - Middle EastThe region is about to see the launch of a whole new wave of everything from smartwatches to virtual reality headsets and even connected clothing. As a result, the wearable technology market in the Middle East and Africa (MEA) region is expected to see a growth rate of 56 percent from 2016 through 2019. This according to forecasts released by IDC.

The fact that wearable technology devices are convenient, lightweight and small forms of mobile gadgets that allow people to complete various types of task either hands free or at least without having to take their smartphones out of their pockets, they have a considerable draw within the business community. Smartwatches are drawing a particularly large amount of attention as they can act as scaled down versions of smartphones combined with fitness trackers.

IDC MEA analyst, Feras Ibrahim explained that while the market for wearables is seeing a substantial growth, the hurdles that are still faced should not be forgotten or overlooked. Among the leading issues standing in the way is in the limited number of apps that are geared toward these tiny screen devices. Moreover, many of the designs are clunky or require a premium price point for a device that would suit business attire.

Global Wearable Computing Market 2015 is poised to reach $39.64 billion by 2022 with a CAGR of 44.99%

The Global Wearable Computing market is estimated to be $2.03 billion in 2014 with a CAGR of 44.99% is poised to reach $39.64 billion by 2022. The factors influencing the market growth include, Increasing Smart watches, Wristbands, Wearable Health & Medical Devices. Whereas high initial price and limited battery life are the factors limiting the growth of the market. The growth of the market lies in multiple application areas.

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Global Wearable Computing market is segmented by Technology, by Product, by Applications and by Geography. Depending on the Technology, market is segmented into Computing, Networking and Display. Based on Product, market is classified into Smart Clothing and Textiles, Wearable Camera, Activity Monitoring Device and Virtual Reality Eyewear. Based on Application, market is further segregated into Healthcare, Fitness And Sports, Consumer, Home Automation, Defense & Security, Industrial and Gaming. Market by geography is segmented into North America, Europe, Asia Pacific and Rest of the World.

The Key players in the Global Wearable Computing market include, Sony Corporation, Microsoft, Motorola Mobility, Valve Corporation, Xmreality, Under Armour Inc., Smartlife Technology Ltd, Philips Healthcare, Omron.

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