Global Wearable Technology Components Market Worth $17.4 B by 2024, According to a New Study on ASDReports

Wednesday 3 September 2014, Amsterdam

$ The report is an exhaustive 192 page report with over 51 figures and 19 market data tables providing an in-depth analysis of the wearable electronic component market.  The report also presents the key trends in the electronic components market, mapped across each product segments which are hand worn (smartwatches & wrist wear), head worn (smartglasses & HMD/HUD), and body worn (smart textiles).

Wearable Technology has been around us for decades, but the revolutionary application areas of the technology have surfaced only recently. With an explosive growth in the demand for wearables in the past two years, wearable devices are expected to have a similar growth chart as smartphones and tablets. The credit for the popularity of wearables should not be limited to the brand name and functionalities it provides, but also to the components that make everything possible. From microcontrollers to sensors and batteries to connectivity modules, it’s all about what is inside the revolutionary gadgets in the market.

The report covers more than 50 market players and over 100 products contributing at different levels of the value chain in the wearable components market. The report is a culmination of more than 30 interviews with key industry players and an exhaustive consultation with in-house subject matter experts. The report has been completed with a thorough understanding of the entire ecosystem, incorporating key market challenges for the current and forecast years.

The primary intention of this report is to provide a comprehensive analysis of the component market for wearables. In this regard, calculations of the maximum and minimum bill of materials (BOM) for smartwatches, wrist-wear, smartglasses, HMD/HUDs, and smart textiles were performed. To arrive at these results, a teardown of the products was done, identifying the electronic components, and the maximum and minimum cost of individual components were calculated.

The report has segmented the wearable electronic components primarily into 6 categories: control components (microcontrollers and application processors), memory (volatile and non volatile), Sensors, Connectivity, Display and Optoelectronic components, and batteries. There is also a segment of ‘other’ components comprising of Audio CODEC, oscillators, connectors, etc. 

Apart from the analysis of the global wearable electronic component market, the report has further segmented the components on the basis of leading product types under hand worn, head worn, and body worn products. While smart textiles enjoyed the dominance in the global wearable product electronic components market  in 2013,  the position will soon be granted to smartglasses primarily due to the multifarious applications it could be used for and declining end-product prices.

The report profiles over 15 key market players, including different component manufacturers ranging from microcontrollers to battery and sensors to display. There is a lot of ambiguity around different components and its respective price in the market. To solve this issue, a detailed description of the assumptions is provided in the report.

Some of the key market players from the report are Texas Instruments, STMicroelectronics, Qualcomm Incorporated, Murata Manufacturing Co.Ltd , HZO Inc., FLexEL LLC, Blue Spark Technologies, E-Ink Corporation, and InevSense Inc. among others.