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Connected Wearable Market Showcases Exponential Growth Prospects for 2019

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Published on : Feb 23, 2015

According to the surveys by Berg Insights, the shipment of connected wearables is anticipated to reach 168.2 million by the end of 22019, growing at a CAGR of 54.7%. The connected wearable shipment has already reached a whopping 19 million units in 2014, as told by Berg Insights. The company also claims that the market is expected to grow exponentially in the next couple of years. 

Over the years fitness and activity emerged as one of the largest product segments operating within the pharmaceutical industry. The segment accounts for a majority of shipments in present times. Studies reveal a significant hike in shipments by 2019 owing to factors such as decreasing global prices and emergence of new form factors. The shipments are expected to reach 42 million before 2019 ends. 

The category of smart watches as well has registered significant rise in its sales volumes and the product category is projected to emerge as one of largest segments in medical devices industry by 2019. Industry sources reveal that the category is likely to reach 90 million shipments by 2019 whereas in 2014 the medical device segment registered only 5 million shipments. 

It has been observed, among the global industry for medical devices the smart glasses product category has registered modest growth rates. Factors such as limited available, privacy issues, and high cost of the products have so far resulted in the slow growth rate of this product category. However, promising future of the smart glass segments in professional and other niche markets will help the smart glass product category to emerge as the third largest segment in the connected wearables. The shipment for smart glasses are expected to reach 11 million by 2019 from a meager 0.03 million that it had registered in 2014. 

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