Wearable technology market to see strongest growth in the health and fitness application of devices
Wearable Technology in Industry Verticals 2013-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-19 00:39:01
The wearable technology market is regarded as in a early stage of development with the major companies still learning from products already live in the market place. The smart watch devices currently available are regarded by some industry experts as possessing limited useability which is set to improve as the leading companies improve the technology made available. The issue with smart watches relates to the longevity of battery use and the difficulty of the size of the device and screen. However, the industry is seeing a rapid increase in investment in wearable technology which is set to drive further product initiatives and developments.
The wearable technology devices set to achieve greatest growth and adoption are the ones focusing on a specific use or uses such as health and fitness. Anew study by Harris Interactive has reported that more than one quarter of United states adults are very interested or somewhat interesting in owning a smart watch or wristband-style device which is a good indication of the expected growth in this sector over the short term.
Wearable technology presents the potential for massive transformation in many industries. The more obvious ones include consumer electronics and communications. Early adopter industries include clothing, healthcare, sports and fitness. However, we see many industries adopting wearable technologies as computing and wireless communications integrate wearable into virtually every aspect of products and services.
We see several factors converging to facilitate wearable technology integration including expanded wireless capacity due to pervasive wireless (WiFi, WiMAX, and LTE), cellular market saturation and the need for wireless companies to establish new revenue streams, continuously decreasing cost of data, and the significant backing from huge companies including Google, Apple, and others.
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