Wearable Security Device Market Research Report - Forecast to 2027

Global Wearable Security Device Market Research, Product Type (Smart Watches, Smart Jewelry, Smart Shoes), Connectivity (Bluetooth, Wi-Fi, Rfid), Operating System (Ios, Android), Application (Military, Emergency Service, Tracking) - Forecast Till 2027

ID: MRFR/ICT/4264-HCR | December 2022 | Region: Global | 100 Pages         

Wearable Security Device Market

Wearable Security Device Market Size will be valued at USD 6 Billion by 2027 | at 17% of CAGR.

Segmentation

By Product Type Smart Watches Smart Jewelry Smart Shoes
By Connectivity Bluetooth Wi-Fi Rfid
By Operating System Ios Android) Application

Key Players

  • Apple
  • Google
  • Fitbit
  • Samsung
  • Amulyte
  • Bear tek
  • Carre technology
  • Cool shirt systems
  • Electricfoxy
  • Emotiv systems
  • Epson America
  • Ever find
  • Garmin
  • Intel
  • LG electronics

Drivers

  • Increasing awareness of fitness
  • Lifestyle and home healthcare
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Wearable Security Device Market synopsis:


The Wearable Security Device Market has the possibility to reach USD 6 billion by 2023 at a CAGR of 17%. In the Wearable Security Device Market, many smart devices have brought a great impact on the lives of people. As many developments drive implementation the of security devices in smartwatches. Nowadays there is research that is planning to implement security devices in watches, smartphones, jewellery and even on clothes. There are specially designed clothes that have the power to transmit some form of the message are involved in this research.


The main usage of the wearable security device is to help in calling and messaging in the emergency need and the second need is to monitor the health and track health applications. This device can also have the capability to analyse and prevent further maintenance.


COVID – 19 Analyses


The pandemic has led to a drastic increase in the demand for remote monitoring and patient engagement solutions. Most of the health care facilities are currently providing patient monitoring to home care settings to provide the best health care at-home steps. Covid -19 has led to the demand for patient monitoring systems, so manufacturers are focusing on expanding production to meet the increasing need for wearable security devices.


Due to this pandemic issue, the Global Wearable Security Device Market has gradually increased. As the wearable is playing a vital role against the covid-19. Because of this the wearable device market has reached its peak and increased its production rate. Even this pandemic has also brought the awareness among the people to stay fit and lead a healthy life which brought the impact in the sale in increased demand of the wearable health care devices.


Market Dynamics



  • Market Driver


The main reason for the Wearable Security Device Market Analysis is increasing awareness of fitness, lifestyle and home healthcare. There is a drastic growth of the wearable security device market in recent days. This is mainly because of the rising population, increasing chronic disease and the advancement in medical devices. As the awareness in the people regarding their health has increased the Wearable Security Device Market Profit.



  • The Market Challenge


The main challenge the wearable security device faces is the connecting issues which are not much better in developing regions. This is one of the biggest draws back and challenge in increasing the market share of the wearable security device. To take careful steps to protect mobile medical technology innovations through patents, the companies assure to secure the financial and legal payments of successfully filed patents and only has the minimal loss caused by the patent trolls. Securing and protecting patents is the main key success that is evolving in the wearable market.



  • The Market Growth Opportunities


As the developed artificial intelligence with the 5G networks can be used to provide potential diagnoses and treatment for a specific patient. Using artificial intelligence one can easily predict the complications and allow the health care system to provide specific and special treatment. With the help of artificial intelligence and the 5G network, one can get the best care and also be able to satisfy real-time needs wherever they are. This can happen only with the help of wearable security devices which is been developed using advanced tools and technology like artificial intelligence and the 5G network. In future, we can expect some new tools and technology such as artificial intelligence and the 5G network to provide better growth opportunities in the WSD Market.



  • The Market Restraint


In EU member states, national laws need medical care can be based on the physical presence of the patient and the doctor. This affects the growth of mobile and remote healthcare solutions.


Regional Analysis


The global Wearable Security Device Market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa.


As North America and the Latin America region is expected to grow the factors and increase the demand for security devices for preventing theft and for tracking the criminals and alerting in the missing of children. Whereas in Europe it is been one of the major markets which help in the growth of the wearable technologies products and services. The Middle East & Africa drives the growth of the customers in spending amount in buying the wearable products and services in the market


Market Segments



  • Wearable Security Device


To get knowledge about the wearable security device product, the Wearable Security Device Market is segmented into smartwatches, smart shoes, smart jewellery, smartphones, smart clothes and eyewear.


To know about the connectivity Wearable Security Device Market are segmented into Wi-Fi, Bluetooth, RFID and others.


Based on the operating system, the Wearable Security Device Market into ios, android and others.


On basis of the application, the Wearable Security Device Market into military applications, emergency service applications, tracking applications, biometric recognition and others.


The global Wearable Security Device Market has thecapability of growing faster rate due to the adoption of these security devices in wearable forms like watches, eyewear, headgear, even on cloths.


Vendors which develops the Wearable SecurDity evice Market Size



  • Apple

  • Google

  • Fitbit

  • Samsung

  • Amulyte

  • Bear tek

  • Carre technology

  • Cool shirt systems

  • Electricfoxy

  • Emotiv systems

  • Epson America

  • Ever find

  • Garmin

  • Intel

  • LG electronics


Products of the Wearable Security Device Industry



  • Watches

  • Jewellery

  • Shoes

  • Cloths


The application used in the Wearable Security Device Industry



  • Military

  • Emergency service

  • Tracking


Products of the Wearable Security Device Industry



  • Watches


In the market, there are advanced and basic models of smartwatches. The basic watches can only be used to tell you the time. Whereas the advanced model of the smartwatches can be used for fitness tracking and also get the notifications and calls from the smartphones. This feature can be used by connecting the smartphone to your smartwatch



  • Jewellery


Wearable Security Device Business expects greater growth at the highest CAGR during the forecast period because of the adoption of the consumers in wearing the jewels. It provides the comfortable and convenience in carrying or wearing the jewel on their body without any hesitation. As there won't be any hassle with the wire and charging port.



  • Shoes


As there is an increase in thefts and robberies using the smart security device as the safety shoes can alert the user which can be done using the sensors embedded inside the smart shoes.


The application used in the Wearable Security Device Industry



  • In Military


As the wearable security device in military applications which is been used to keep the soldiers or alert them when they are near mine or some other explosives.



  • Emergency Service


As the main driving force of the market is to connect the emergency response systems system which is connected with the dispatch centres. Suddenly your GPS tracking apps on your smartphone shows the location and then the team can know about your need and assist you urgently.



  • Tracking


Trackers are embedded with different features such as location sharing service or SOS buttons to watch and allow a concerned person to be tracked when they need emergency help.


Competitive Landscape Analysis


In recent days the wearable security device market is been hurrying in changing its features and update its security devices. As everyone knows the Covid-19 has brought great impact and awareness among the people about their health and fitness. People are rushing to get wearable security devices to keep them fit. So the companies are trying to update their feature with artificial intelligence and the 5G network for the fast and good source of the network to rush with the help to the people.



  • Recent updates on the Wearable Security Device Market Forecast

  • Google’s hottest new acquisition and speculation will result in new watches and wristbands in 2021

  • Many smartwatches are adding blood oxygen sensors to increase the standards of the smartwatches

  • ECG monitors and other sensors may alert the concerned person if something went wrong in their health

  • Fitbit and Humai watches may include the build in thermometers to check and track their rice of body temperature

  • Donut Robotics has introduced the smart mask which has inbuilt voice recognition via which you can make phone calls and send messages


Market Overview



  • Market Overview Highlights

  • Analysis Based on COVID 19

  • Description of the Market Dynamics

  • Market Segmentation Overview

  • The Regional Analysis

  • Competitive Landscape Analysis

  • Recent Developments



Report Scope:

Report Attribute/Metric Details
  Market Size    USD 6 Billion (2023)
  CAGR   17% (2017-2023)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product Type, Connectivity
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Apple, Inc (U.S.), Google LLC (U.S.), Fitbit (U.S.), Samsung Electronics (South Korea), Microsoft Corporation (U.S.), Amulyte, Inc (U.S.), Carré Technologies Inc (Canada), Epson (Japan), Garmin Ltd (Switzerland), Intel Corporation (U.S.), LG Electronics (South Korea)
  Key Market Opportunities

  • One of the major benefits of using smart wearable devices includes messaging and calling services regarding emergency services, real-time health monitoring, and tracking applications. \r\n
  • These devices are not only used in monitoring, the data gathered with these devices are further used for analytics and preventive maintenance.
  •   Key Market Drivers   The United States contributes a major portion towards this growth. Many start-ups are getting involved in the development of this wearable technology, partnership and collaboration with prominent players like Apple, Fitbit, Garmin and many more.


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    Frequently Asked Questions (FAQ) :

    A USD 6 billion income is estimated to impact the market in the impending period.

    A 17% CAGR is appraised to motivate the market in the forecast period.

    Carré Technologies Inc (Canada), Amulyte, Inc (U.S.), Epson (Japan), Intel Corporation (U.S.), Garmin Ltd (Switzerland), and LG Electronics (South Korea) are the competitors in the market.

    The surge in the application of this technology in military operations is expected to push the market in the coming years.

    Smart jewellery, smartwatches, smartphones, smart clothes, smart shoes, and eyewear are important offerings in the market.