Wearable Device Security Market Statistics: 2027

A wearable device is worn on the human body. It is also called as wearable gadget. Wearable devices come in different forms such as jewelry, accessories, medical devices, and clothing. Wearable devices are quite common like any other devices with connectivity and additional features for tracking and monitoring health of an individual. Most wearable devices being used can prevent unauthorized access with device encryption; however, some of them have been found to be vulnerable to security threats while transferring data to cloud, which result into demand for security solutions.

COVID-19 scenario Analysis:

• Due to the outbreak of COVID-19, number of wearable manufacturers have begun creating new products, which can assist with detecting early signs of COVID-19. Some have developed algorithms that have been specifically tailored to catch early symptoms associated with the virus. Launch of these new wearable devices in the market will demand for wearable device security software to prevent security threats, which is opportunistic for the wearable device security market.
• Additionally, the role of wearables against COVID-19, not only applies to monitoring patients and detecting early signs of the virus but also in protecting healthcare professionals.
• Furthermore, many government authorities have also initiated various startups to develop   a wrist-based tracker with skin temperature, heart rate and SpO2 (blood oxygen saturation) sensing, which can continuously track these body vitals remotely that will help in early diagnosis of COVID-19 symptoms. Thus, these initiatives and projects surely bring multiple opportunities for the wearable device security market.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Rise in penetration of internet of things as it has enabled connectivity of many devices and data gathering with the help of sensors majorly drives the growth of the wearable device security market. In addition to this, growing manufacturing of wearable devices in healthcare and medical industry which increases adoption of these software along with increase in enterprise-focused wearable apps further fuels the growth of the market. However, lack of security safety and privacy may hinder the growth of the market. Furthermore, growing demand for wearable devices in developing economies such as China, Japan, and the Southeast Asian countries is providing numerous opportunities for the wearable device security market.

Rise in the adoption of smart watches:

The major driver of wearable technology market is due to the high adoption smart watch in our daily activities as well as critical operations. Easy deployment of connectivity and digitalization has increased the usage of wireless smart watches. Features like messaging and calling services for emergency services, real time tracking and health monitoring are becoming popular, thus increasing the adoption towards the same. Growth in sales of smart watches will lead to the adoption of wearable devices security solution as it contains large amount of users personal data.

Safety and security concerns with wearable devices: 

Growing adoption of wearable technology get affected due to the lack in safety and security of the data usage with the devices. The security and privacy is causing due to the rising risk of the hackers which can further manipulate the data and thus becoming a common theft.

Key Segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the global wearable device security market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global wearable device security market share.
• The current market is quantitatively analyzed from 2019 to 2027 to highlight the global wearable device security market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the wearable device security market. 
• The report provides detailed wearable device security market analysis based on competitive intensity and how the competition will take shape in coming years.