Wearable technology market expected to reach $31.27 billion by 2020

Wearable technology is gaining popularity at a rapid pace, and it has gone beyond just connected eyewear and smartwatches with new products such as wrist bands, smart shoes, smart apparels, and more. Companies are creating apparel, accessories, and fitness wear that can do everything from monitoring heart rate to charging a smartphone. The overall wearable technology market for wearable technology is expected to reach $31.27 billion by 2020, at a CAGR of 17.8% between 2015 and 2020.

Some of the key players in this industry include Adidas AG (Germany), Apple, Inc. (U.S.), Fitbit, Inc. (U.S.), Garmin, Ltd. (Switzerland), Google, Inc. (U.S.), Jawbone, Inc. (U.S.), LG Electronics Inc. (South Korea), Nike, Inc. (U.S.), Pebble Technology Corp. (U.S.), Qualcomm, Inc. (U.S.), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), and Xiaomi Technology Co., Ltd. (China).

Source: MarketsandMarkets