The Wearable Tech Industry Will Be Worth More Than $71 Billion In 5 Years

The wearable technology industry is set to explode in growth over the next five years.

According to a new market research report by Scalar Market Research, the industry is expected to grow over 138 percent by 2021, making it a $71 billion market. North America and Europe are expected to be the regions likely to take the greatest market share.

Key Findings Of The Report

The rise of smartphone devices along with the explosion of Internet of Things (IoT) is expected to drive the wearable technology market.
Growing venture capital funding for emerging market players is also responsible for the rapid growth rates this industry will experience.
Technological advances, high acceptance level of consumers and the innovative range of available devices are also some key driving factors highlighted in the wearable technology market report.

Key Players In The Industry

Alphabet Inc GOOG GOOGL.
adidas AG (ADR) ADDYY.
Apple Inc. AAPL.
Fitbit Inc FIT.
Garmin Ltd. GRMN.
Microsoft Corporation MSFT.
Nike Inc NKE.
Sony Corp (ADR) SNE.
Xiaomi, Inc.

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