Wearable technology has come a long way from being fancy and futuristic to being accessible and popular.
FREMONT, CA: According to Gartner, the market for wearables will hit $52 billion in 2020. These formidable figures indicate the sway that smartwatches, intelligent clothing, headsets, and other wearables hold today. With the market for smartphones and tablets entering a phase of saturation, the wearable segment will see a host of innovations. Leading manufacturers of smart devices are turning their attention to wearables and are expected to be rewarded with great profits. Some of the factors contributing to the trending wearable technology are listed below.
• The Connectivity Factor
Wearable technologies enable an extensive level of connectivity. There are constraints when it comes to using smart devices such as smartphones or tablets during particular activities. Wearable devices eliminate these limitations and help users stay connected. For instance, a smartwatch helps the users have easier access to smartphone features during driving or while engaging in outdoor activities.
• Extensive Functionalities
The functionalities that wearable technology has unleashed are of supreme value across industries. The healthcare industry is one of the biggest beneficiaries of wearable technology. Medical wearables have empowered better patient monitoring and easier diagnosis. The sports and wellness industries have leveraged wearables to monitor the performance of athletes and optimize physical training. The entertainment industry is making the most of wearable head-mounted devices to deliver VR experiences to viewers. Innovative clothing materials with improved properties and other wearable devices are enhancing worker safety in manufacturing and construction. The potential of wearable technology seems unlimited at the moment.
• Enhanced Affordability
While there are premium wearable devices that many people cannot afford, most companies also offer affordable models. The affordable variants are one of the biggest factors responsible for the popularity of smart wearables today. The developments of smart sensors and battery technologies have resulted in the fall in the price of wearables, enabling manufacturers to create reasonably-priced wearables.
The market for wearable technology is poised to grow over the next couple of years as new usage patterns emerge, and innovative applications are formulated.