Wind the clock back to 2013 and the Pebble smartwatch was taking the fledging
wearable market by storm, bringing notifications to the wrists of gleeful iPhone users.
Adidas is also making its mark in
the wearable market by releasing miCoach Fit Smartband, which is a wearable fitness tracker which is based on the combination of Nike's Fuelband and Adidas» own miCoach Smart Run.
Whether Fitbit is still number one in
the wearables market by the time Apple Watch 3 comes out is not something I'm ready to make a prediction about, but Blaze, plus continued sales of the older Fitbits, should keep it on top in 2016.
Not exact matches
And BI Intelligence, Business Insider's premium research service, expects the
wearables market to grow to 162.9 million units
by the end of 2020.
Following last week's purchase of Vancouver - based web - enabled sports eyewear maker Recon Instruments
by chip - maker Intel Corp. for a reported $ 175 million, I spoke to Recon co-founder and CEO Dan Eisenhardt about the deal, what it means for both companies, and the opportunity in the
wearables market.
Today, business leaders should observe the
wearable technology and alternate payment trends, identify potential issues caused
by these trends, and begin searching for answers today so they are first to
market with a solution.
These companies are all vying for a piece of the global healthcare
wearables market, which is projected to be worth more than $ 612 billion globally
by 2024, according to Grand View Research.
The worldwide pet
wearables market alone will be a $ 2.6 billion
market by 2019,
market research firm IDTechEx predicts.
Shoppers can only purchase the
wearable online or
by appointment at certain trendy boutiques in London, Paris and Tokyo, as the tech giant tries to
market the gadget as a must - have fashion accessory.
IDC, another
market research firm, predicts China's
wearables market to grow from just 30,000 units this year to 1.38 million
by 2018.
Taiwan - based Industrial Economics and Knowledge Center predicts the global
wearables market will reach $ 20.6 billion
by 2018.
The British
market observer believes that the
wearable technology
market will grow to $ 80 billion
by 2020 — and the key will be making the connected gadgets virtually indistinguishable from their disconnected peers.
Both companies seek to make a splash in the nascent
wearable technology
market, which IMS, the
market research arm of IHS, predicts will be worth at least $ 6 billion
by 2016.
A Soreon Research report expects the
market for
wearables, which is still in its infancy, to reach $ 41 billion
by 2020, driven
by growth in devices aimed at combating diabetes, sleep disorders, and cardiovascular disease.
The U.S. healthcare
market is $ 3 trillion, and researcher IDC Health Insights predicts that 70 percent of healthcare organizations worldwide will invest
by 2018 in technology including apps,
wearables, remote monitoring and virtual care.
Mobile payments are gaining acceptance among consumers in North America, Japan and some countries in Western Europe, according to Gartner, Inc., with half of consumers in mature
markets expected to be using smartphones or
wearables for mobile payments
by 2018.
The noteworthy aspect of this revenue figure is that Catapult estimates its addressable
market for the use of
wearables by elite athletes is $ 450 million to $ 550 million.
We see the company do just that
by entering the smartphone
market, followed
by the
wearables market and soon, the auto
market.
By analyzing the capital raised over the past year, we can understand: a) which consumer and commerce verticals are seeing the most activity here in Canada (such as
wearables and foodtech); and b) which specific, innovative consumer and enterprise business - to - business companies are gaining traction in the
market.
The latest
market research report
by Technavio on the global classroom
wearables technology
market predicts a CAGR of over 41 % during the period 2018 - 2022.
Nike's
wearable fitness tracker was well - received
by reviewers, but failed to find a following with consumers, accounting for just 10 % of the
market two years after its release in 2012.
Join Jason Egnal, VP of Digital
Marketing and Commercial Operations at Thync, a radical new mood - altering
wearable technology, as we chat about how the company was able to quickly go to
market with a new offering
by meeting key operational requirements.
Earlier this year, TechNavio reported that the classroom
wearable tech
market in the US is expected to grow at a CAGR of nearly 46 %
by 2020.
Statista.com predicts that the
wearable device
market will value about $ 12.64 million, while MarketWatch still predicts that Google Glass, which many consider to have been a failure, will still reach a projected $ 1 billion in sales
by 2020.
Gorilla Glass SR +, short for «scratch resistant,» represents an opportunity
by trying to capture a bigger slice of the smartwatch,
wearable and classic wristwatch
markets.
The technology will enable product designers to develop stylish, more ergonomically - friendly devices in several emerging industrial segments, including flexible AMOLED and other displays for mobile and
Wearables and the Internet of Things, -
markets which are forecast to be worth $ 12Bn
by 2020 (IHS 2013 report) and $ 1.9 trillion across all sectors in 2020 respectively.
The
market for flex AMOLED displays is set to grow to $ 23bn
by 2023 (IHS 2014 report), fuelled
by the pull for flexible displays for
wearables and the Internet of Things.
Every few months they tout their technology on their own blog, talking about how the
wearables market will generate $ 15 billion
by 2022 and how everyone should buy Plastic Logic tech to capitalize on it.
The survey suggests that while the display and battery life of a device are considered the most important features for consumers, their needs and expectations are not being fully met
by the
wearable products that are currently on the
market.
That said, the
wearables market is expected to reach well over # 110B annually
by 2026, so clearly this technology isn't going anywhere.
The Takeaway: The
market for
wearable tech is set to explode for pets; sales in this sector are expected to reach $ 2.6 billion
by 2025.
When discussing the
wearable pet safety
market with members of the industry, I was surprised to learn that aesthetically pleasing and consistently high - quality LED and reflective products were hard to come
by at a cost - effective price and thus, 4 Paws Tech was born.
The rest of the industry caught up a few years later, but
by then Jawbone had changed the
market again with the release of its sleek,
wearable tech — earpieces and wristbands that soon became ubiquitous.
As per an estimation
by research firm IDC,
wearables market to grow 173 percent this year with 72.1 million total shipments.
According to the International Data Corporation, the overall
wearable market will grow 13.4 %
by 2022, two fifths of which will be smartwatches.
The new touchscreen
wearable will be one of the over 300 different hybrid and full smartwatches that will be made
by Fossil, which is also making and
marketing devices for other fashion brands like Michael Kors, Skagen, Diesel, DKNY, and Marc Jacobs.
Perhaps inspired
by the recent outing of luxury smartwatches, like the TAG Heuer Connected, Fossil has announced its acquisition of Misfit, one of the more known names in the
wearable market, particularly in smart fitness bands.
This
wearable device
by the iPhone maker is quite likely to have all the high - end specifications and premium features to take on Android Wear - based smartwatches, which recently get into the
market.
For vendors focused on basic
wearables, the challenge will be to compete with the additional features offered
by smart
wearables while still turning a profit in the price - sensitive basic
wearables market, IDC said.
So we have to wait till July 22nd to see the specifications and the pricing
by Xiaomi, which will be the first device
by the company in the
wearable market.
But now, a new forecast
by research firm International Data Corporation (IDC) reveals that the
wearables market will grow 173.3 percent this year with estimated shipments of 72.1 million units.
«The
market will also be driven forward
by the proliferation of new and different
wearable products.»
This means that consumers may not have the option to easily upgrade the product
by upgrading its chip, similar to many mobile devices and other
wearables that are available in the
market today.
Fitbit has held on to its dominance of the
wearable market despite challenges from Misfit, now owned
by Fossil, the stagnating Jawbone, currently tangled in a legal fight with Fitbit, and Apple, whose Apple Watch is positioned as the ultimate health and fitness device.
Yes, it will be loaded with plenty of new features and will also perform the same functions performed
by existing
wearable's in the smartwatch
market.
A survey from The Insight Partners showed that the
wearable technology
market is about to bloom to more than $ 170 billion
by 2025.
«LG has a rich legacy of innovating in the
wearable audio
market, and our products have become the standard
by which all other earphones are judged,» said Michael Park, vice president of Innovative Personal Devices Business Division at LG Electronics, Inc. «We are committed to leading the way in this fast moving
market by developing exciting new products which appeal to every music - loving and convenience - seeking individual.»
The
wearable device
market is steadily gaining momentum and although smartwatch sales dropped
by more than half last year, things are expected to improve in the future.
Google also confirmed that it's working with a handful of partners to bring Android Wear powered
wearables to
market by later this year:
Reuters notes that «curved displays are in the early stages of development and allow bendable or foldable designs that could eventually allow mobile and
wearable gadgets to take new forms that could radically change the high - end smartphone
market,» although it's not clear just how radical the first models released
by LG and Samsung will be.