- Growing ‘Bring Your Own Device’ (BYOD) trend at the workplace poses a considerable security threat to enterprises
- Wearables device security solutions markets in Healthcare and Retail verticals expected to touch US$ 11,441.1 million and US$ 7,749.9 million, respectively by 2022
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Worldwide Wearables Device Security Solutions Market: Drivers, Opportunities, Trends, and Forecasts, 2016-2022” (July 2016).
According to Infoholic Research, the healthcare industry will continue to dominate the worldwide wearable device security solutions market. As per the study, the market will experience significant growth in the coming years due to increase in government investments, rise in number of wearable device users and growing demand for health and sports/fitness wearable’s across the globe. The market is expected to grow at a CAGR of 51.4% during the period 2016-2022 to touch an aggregate of US$ 35.70 billion by 2022.
Figure 1. WORLDWIDE WEARABLES DEVICE SECURITY SOLUTIONS MARKET, 2016-2022
Note: A few readings are hidden in the above chart. You can find the complete Table of Contents of the report here.
“Rise in availability of enterprise-focused wearable apps has made the handling of workloads easier. However, increased risk of security breaches is a distinct possibility, because now sensitive data can be easily transferred from one wearable to the other. Organizations should be prepared with security policies to ensure safety of sensitive corporate and customer data. To mitigate this risk, wearable device security solutions provide a robust technique to modern enterprises to improve their workflow, resource management, and enhance communications profitably,” stated Tariq Ahmed Shaik, Research Manager at Infoholic Research.
Key Customer Segments
The wearable device market will be driven by end-user segments such as healthcare, sports/fitness industry, and BFSI. The healthcare market, by aggregate of device security solutions, is expected to touch US$ 11,441.1 million by 2022.
Figure 2. RETAIL VERTICAL REVENUE BY WEARABLE DEVICE SECURITY SOLUTION, 2016-2022 (US$ MILLION)
Note: A few readings are hidden in the above table. You can find the complete Table of Contents of the report here.