While wearable technology has been utilized in vertical sectors such as the military and health care for many years, ongoing advances have triggered a major resurgence of the concept, particularly among the consumer community.
Key enabling technologies including low-cost sensors, wireless connectivity, active materials and energy have converged to make wearable technology mainstream. With the continued miniaturization of enabling technologies, wearable devices have hit the mass market in a diverse variety of form factors, ranging from glasses to even jewelry. Driven by the ability to interconnect with key modern trends of health care, fitness, messaging and socialization, the wearable technology ecosystem is attracting significant levels of interest.
Companies as varied as smartphone OEMs, wireless carriers, health insurers and retailers are circling the ecosystem alongside tiny startups, all vying for a stake.
SNS Research estimates that by 2015, wearable devices shipments will surpass 90 million and will account for nearly $20 billion in revenue. The market is further expected to grow at a CAGR of nearly 40% over the next six years.
The “Wearable Technology Ecosystem: 2014 – 2020 – Opportunities, Challenges, Strategies, Industry Verticals & Forecasts” report presents an in-depth assessment of the wearable technology ecosystem.
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