European Wearable Technology

Transparency Market Research
European Wearable Technology Market:
Finding the Right Fit to Make a Mark
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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.
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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.
There have been quite a few advancements in the European wearable technology market recently. The 2014
Wearable Technology Show held in London hosted a slew of products including the Google Glass and its European
competitive counterpart, the Optinvent Ora. Both are glasses that use a transparent screen which is thrice as large
in the case of the Optinvent Ora. The U.K. is also witnessing quite a few developments in the smart clothing sector.
For instance, Intelligent Textiles, a U.K. based firm has created clothes that use electrically active woven fabrics.
These clothes are intended for a range of uses from commercial to defense fields, including iPod connected
garments, heated bedding, and body armor.
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The Scandinavian countries are involved in the development of wearable technologies through the course of
technical innovations. They are trying to work out a way to power wearable technology through blood. Such devices
will utilize the natural bodily processes to generate their own electricity.
By country, the largest market share for wearable technology was held by Germany in 2012 with 32%. The scope for
growth in the country is highlighted by technology conferences such as the Wearable Technology Conference (WTC)
which is held by Wearable Technologies GmbH which is a top company in the European wearable technology market.
All in all, the European wearable technology market that was once valued at US$308.69 million in 2013 will be
growing at a CAGR of 42.1% from 2014 to 2019. The scope seems bright with the U.K. showing a CAGR of 41.8% and
the Scandinavian countries showing a collective CAGR of 43.1% for the same forecast period.
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Europe wearable technology market was valued at USD 308.69 million in 2013, growing at a CAGR of 42.1% from 2014 to 2019. Wearable technology market is a niche market with current domination of a few players. As the technology is new and there are few players, the prices of the products are high. The applications of new technology products are expected to increase with further development in the devices, over the forecast period.