Global Wearable Security Devices Market 2017-2021

Outlook of the global wearable security devices market

According to Technavio’s market research analyst, the global wearable security devices market will witness impressive growth over the next few years and post a CAGR of almost 19% by 2021. Much of this market’s growth can be attributed to the high adoption of the (Internet-of-Things) IoT technology across various markets. IoT connects billions of devices and sensors to develop innovative applications. IoT communication primarily connects various devices, such as smartphones, laptops, and tablets, with people and systems. This helps send data to the centralized server through networks like wireless local area network (WLAN), radio frequency identification (RFID), and Bluetooth. Furthermore, with the help of IoT, every device or asset of an organization can be interconnected with other assets. In addition, enterprises are also witnessing significant improvements in business processes with the adoption of IoT.

Additionally, the analysts have also noted that factors such as the augmented use of ultra-high-capacity optical networks will also play a key role in spurring this market’s growth and act as one of the wearable security devices market trends over the next few years. At present, the world is virtually interconnected; thus, enabling efficient and easy communication that delivers better economic growth. Optical networks help achieve higher power savings by allowing the efficient use of data transmissions over long distances. Additionally, they also provide the advantage of having high reliability, protection, speed, and convergence. Core networks that transmit signals over long distances utilize low-loss wavelength range to attain the maximum transmission capacity of 100 Tbps per fiber.

Competitive landscape and key vendors