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Global Market for Wearable Computing Devices to Reach $30.2 Billion in 2018; Smart Watches to Surge To $12.5 Billion(PR Web Via Acquire Media NewsEdge) Wellesley, Mass. (PRWEB) April 17, 2014 BCC Research (http://www.bccresearch.com) reveals in its new report, Wearable computing: technologies, applications and global markets, the global market for wearable computing devices is expected to grow to $30.2 billion by 2018, with a five-year compound annual growth rate (CAGR) of 43.4%. The consumer market, which includes smartwatches and smart eyewear, is the fastest moving segment overall and is expected move at a tremendous 52% CAGR. Earlier this week, Google set off a scramble for its much-anticipated voice-activated wearable computer, Google Glass. Previously available only to a select group of so-called Glass Explorers for testing, Google recently opened up the program to a limited number of U.S. adults for just 24-hours--and $1,500 plus tax. However, it is the less expensive and more user-friendly smartwatch product category that is projected to account for the largest single consumer market with more than 41 million devices forecast to ship in 2018. Smartwatch sales are expected to generate more than $12.5 billion in global annual revenues. "Smartwatches have significantly more growth potential in consumer markets than augmented reality (AR) eye wear," says BCC Research information technology analyst. "This is because products like Google Glass face many more adoption challenges including a more foreign user interface, greater aesthetic design challenges, personal privacy issues and most importantly usability issues." In the overall market, the consumer segment is set to grow at a tremendous 52% CAGR to $22.1 billion by 2018. Nonconsumer markets (healthcare, defense/security, enterprise, and industrial) are expected to reach $8.1 billion by 2018, registering 29% CAGR. WEARABLE COMPUTING: TECHNOLOGIES, APPLICATIONS AND GLOBAL MARKETS provides an overview of the wearable computing devices market. Global market trends are analyzed with revenue data from 2012, estimates for 2013 and 2014, and projections of CAGRs through 2018. In addition, the report discusses recent technological advances in materials sciences, electronics, photonics, and software that are enabling a potentially vast range of new lightweight, wearable computing products to emerge. This report is intended for developers, manufacturers, providers, suppliers, users, customers, commentators, analysts, and investors interested in where the wearable computing devices and accessories market is heading. Editors and reporters who wish to speak with the analyst, should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com. About BCC Research BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight. These include, but are not limited to, market sizing, forecasting, industry overviews, and identification of significant trends and key competitors. We partner with analysts who are experts in specific areas of industry and technology. Their up-to-date knowledge gives our customers unbiased measurements and assessments of these vital markets. Because our reports offer a global focus, our customers include the top companies in industries around the world as well as universities, major business schools, start-ups, consulting firms and investment companies. BCC Research is a unit of Eli Research LLC. Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC, 49-2 Walnut Park, Wellesley, MA 02481, Telephone: (+1) 781-489-7301; Email: editor(at)bccresearch(dot)com as the source and publisher. Thank you. Read the full story at http://www.prweb.com/releases/2014/04/prweb11772752.htm (c) 2014 PRWEB.COM Newswire |