Market Analysis

Market Research Future predicts the global wearable security device market to reach USD 6 billion at 17% CAGR from 2020 to 2027 (forecast period).

Several Factors Contributing to Market Growth

There has been a significant advancement in establishing security in smart devices with the emergence of smart devices and connected space. Several successful attempts have been made, including smartwatches, smartphones, jewelry, and many others. Even clothing is being tested and built with specific materials capable of transmitting some type of power within the fabric in order to relay a message. Smart wearable devices are similar to other smart devices in that they include connection and an additional feature/process for tracking and monitoring an individual's health.

One of the most significant advantages of adopting smart wearable devices is the availability of messaging and contacting services for emergency services, as well as real-time health monitoring and tracking applications. These sensors are utilized for more than just monitoring; the data collected by these devices are also used for analytics and preventive maintenance. The majority of these have found use in the military, as the individual must travel between important communication without losing connectivity. Another key factor driving the growth of the wearable security market is the increased usage of the internet of things, which has enabled the connectivity of various devices and data collection via sensors.

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Key Players

Some of the major players in the worldwide wearable security device market include Apple, Inc (U.S.), Microsoft Corporation (U.S.), Google LLC (U.S.), Fitbit (U.S.), Samsung Electronics (South Korea), Amulyte, Inc (U.S.), Intel Corporation (U.S.), Carré Technologies Inc (Canada), Epson (Japan), Garmin Ltd (Switzerland), LG Electronics (South Korea), Fin Robotics, Inc (U.S.), among others.

Other vendors include Oath Tech Network Aol Tech (U.S.), FINIS, Inc. (U.S.), Vuzix (U.S.), Fujitsu Ltd (Japan), Geo Group Inc (U.S.), GeoPalz, LLC (U.S.), Sony Corporation (Japan), Laster Technologies (France), Qualcomm Connected Experiences, Inc (U.S.), among others.

Market Segmentation

The worldwide wearable security device market has been segmented into product type, connectivity, operating system, and application.

On the basis of product type, the worldwide wearable security device market has been segmented into smartwatches, smart clothes, smart jewelry, smart shoes, smartphones, and eyewear.

Based on connectivity, the global wearable security device market has been segmented into Wi-Fi, Bluetooth, RFID, and others.

Based on operating system, the global wearable security device market has been segmented into iOS, Android, and others.

Basedon application, the global wearable security device market has been segmented into military applications, emergency service applications, tracking applications, biometric recognition, and others.

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Regional Analysis

North America to Dominate the Global Market

North America now dominates the market due to the increased adoption of robotics and smart device technology. This region is home to the majority of the major players involved in the development of cutting-edge wearable security technology. The United States is a major contributor to this expansion. Many start-ups are becoming involved in the development of this wearable technology, forming partnerships and collaborating with major companies such as Apple, Fitbit, Garmin, and others.

Although wearable security devices are a smart technological addition that can be readily linked with smartphones, the technology is still improving in terms of compatibility and mobility, battery capacity, connectivity, and autonomous operations. Various firms such as Vuzix, Fitbit, and others are launching new products such as child trackers, GPS-enabled tracking devices, and much more. 

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