|By Business Wire||
|July 23, 2014 02:16 PM EDT||
Research and Markets (http://www.researchandmarkets.com/research/f9v6ft/wearable) has announced the addition of the "Wearable Technology Market Trends through 2018" report to their offering.
Wearable technology is clearly a growing industry, with forecasts predicting that worldwide spending on wearable technology will reach $19 billion by 2018. And by 2020, over 150 million wearable devices will ship worldwide.
With Samsung Gear Live just released, and the long-awaited iWatch eagerly anticipated, the Smartwatch category in the wearables market is poised to be commercialized by the heavy-hitters in mobile technology.
Several factors are 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.
This report discusses the market opportunities in all sectors, and reveals what we believe will be THE most profitable piece of the wearables market in the next 3-5 years.
This report discusses the market potential for various sectors of wearables. We see developments in key technologies such as Augmented Reality, Body Area Networks, Ambient Awareness, and Peer-to-Peer Communications as drivers for evolution in consumer perception of value and willingness to engage in new forms of communications, content, applications, and commerce.
The miniaturization of technology has reached a point where a variety of sensors and other tech can be built into wearable gadgets (many piggy-backing on a smartphone's connectivity, processing power and local storage) that enhance the user's life in some way. Examples are health monitoring and activity tracking, environmental sensing, data monitoring and recording, collaboration, authentication and augmented reality.
Even if your business doesn't manufacture or sell wearable devices, it will interface with wearables in some way:
- Healthcare providers will monitor patients from across significant distances with wearable devices;
- First responders will wear cameras to record their actions, and sensors to track their vital signs;
- Sales people will receive pertinent information through their glasses, which will recognize the faces of potential clients;
- Teachers will control presentations with wearable motion control devices;
- And employees will bring everything from personal fitness trackers to smart clothing into the workplace (and onto your network) just as they do with smartphones today.
- By 2020, well over 150 million wearable devices will ship worldwide, led by the sports and fitness sectors. Advertisers will likely use exercise data and eating to serve up relevant ads and offers;
- Increased attention toward personal health combined with a movement on the part of providers to contain costs, will trigger products and services that promote preventive measures;
- Wearable technologies will also emerge in the huge disability market (such as aids for the deaf, blind, paralyzed and elderly).
- In manufacturing and enterprise markets, wearable computers for hands-free operation will continue their popularity in field service and assembly lines and warehouses.
- Forecasts for global smartwatch shipments will grow from 1 million units in 2013 to 7 million in 2014. Credit Suisse expects the industry to grow from between $3 billion and $5 billion today to $50 billion within five years.
This report is a must-have for professionals interested in creating profit from the wearable computing market.
For more information visit http://www.researchandmarkets.com/research/f9v6ft/wearable
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