European Wearable Technology Market: Germany and UK to Push Market at 42.1% CAGR

The American cities are just about to warm up to using wearable technology on an everyday basis. European consumers, on the other hand, are playing it a lot cooler when it comes to adapting to wearable technology.Surveys show that consumers are more likely to use either watches or health monitors on their wrists more than gadgets that are fitted into their clothes or eyewear. Almost one third of the European businesses are now trying to incorporate new wearable technologies into their working methodologies, thus ushering forth a new age of management and work visibility.

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An Introduction to Wearable Technology

Also known as wearables, fashion electronics, or wearable devices, the different types of wearable technology that we are about to see in the market are poised to make a big difference. Most of the goods in the wearable technology market are built with either practicality or aesthetics in mind, or even a mixture of both. The earliest known example of wearable technology was the calculator watch of the 1980s. Visionaries have since attempted to perfect the use of technology into shapes and forms that are not only mobile, but also involve ubiquitous computing. Most science fiction movies portray the use of hidden gadgetry in espionage situations such as a microphone in a ring or a tie. Currently, Twitter users can make the use of Pocket Tweet that simply let one ?wear? a tweet of their choice. From the much-hyped Google Glass to the formation of the Wearable Technology in Healthcare Society, the wearable technology market is here to change the way we work

While advances in material sciences in Europe have helped achieve unprecedented compactness in wearable devices, their adoption has received a boost because of their increasingly easy-to-use features. he development of wearables for healthcare and fitness applications is a key opportunity that hitherto remains comparatively unexploited. By focusing on this opportunity, companies in the Europe wearable technology market can mitigate the negative impact of market restraints to some extent. Although the market for wearables continues to gallop ahead, battery technology is yet to catch up. This limits the availability of a satisfactory power source for wearable gadgets. Thus, till the time battery technology lags behind, the wearable technology market will lose out on some growth opportunities.

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Technological innovations are being introduced through various channels, which has led to increased adoption of wearable devices in the country. In the U.K., the Wearable Technology Show held in London in 2014 witnessed innovative products such as Optinvent Ora ? an alternative to Google Glass, and smart clothing in the form of body armor. The report mentions that the U.K. market for wearable devices will grow at a CAGR of 41.8% during the forecast horizon. Countries such as Denmark, Sweden, and Norway are also expected to grow rapidly in the European wearable technology market.Some of the key players in the wearable technology market are Microsoft, Nike, Samsung, Google Inc., Sony, and Adidas.

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