There is a new trend alert in technology market. The trend of wearable devices! Many big names in technology like Google, Apple are bringing a boom in the market of wearable technology. The wearable tech products that are already making hush-hush in the market and will continue to grow as future of wearables, are smartwatches, activity trackers, smartglasses and clothings with embedded sensors.
The combination of IoT and wearables will revolutionize the consumer and enterprise markets with unprecedented growth. At the Consumer Electronics Show 2016, wearable devices took off the show and dominated the scene with fitness trackers, smartwatches, virtual reality and augmented reality headsets (also known as smartglasses) and sensors.
Wearable Technology Market Analysis
As per the report issued by firm ‘Research and Markets’, the Global Wearable Technology Market is assured to grow in next 5 years with CAGR of around 18.2% to attain approximately $33.4 billion by 2020.
As per the market forecast from IDTechEx, “the market for wearable technology will reach $70 billion by 2025.” The wearable electronics business has already geared up to grow, the dominating sector will continue to remain the healthcare sector. It has most of the big names like Apple, Adidas, Accenture, Samsung, Roche, Fujitsu, Reebok, Nike are gearing up for most promising developments in wearable electronics.
Activity Trackers and growing Competition heat for Fitbit
Activity trackers has already taken the market on storm. Fitbit is the leading name in the activity tracker brand. Fitbit Flex is a wristband that tracks steps, distance traveled, calories burned, and sleep cycles. It transfers this information to the user’s smartphone. Many of fitness wearables, activity trackers and medical wearables work on the similar technology but each may serve a different purpose.
For example, medical wearables can monitor patients post-hospitalization, track elder movements remotely, and send alarms and data wirelessly to doctors or caregivers.
As per the present market scenario for activity trackers and fitness wearables, many companies are already giving a tough competition. The big names include Xiaomi, Garmin that are selling fairly in some countries.
Share of Smartwatches
Smartwatches are getting adequate attention in the present market. The success of Apple Watches is due to their innovative design, effective branding, and tight integration with the iPhone. Similarly, Samsung also got a good start with its own smart watches. The Android wear smartwatch market, promoted by Google, appears fragmented as Samsung and LG focus on their own operating systems.
Explore our earlier post on wearable smart watch apps.
Wearables beyond watches and bands:
Is wearable clothing an answer?
Experts anticipate that the wrist may not be the best location for sensors. To improve activity tracking, alternative wearable options are needed.
The concept of smart clothing has been circulating for a year. Big names like Samsung, Google, Hexo Skin, and Under Armour are exploring possibilities.
Imagine that your pants, shirts, shoes or socks do all this tracking for you excluding the need to wear accessories that you don’t wear normally. As you will use clothings all the time, it will be easier to keep tabs on overall wellness.
Some examples of Wearables other than watches and glasses:
- Billie Whitehouse of Wearable Experiments introduced yoga tights that are equipped with wireless sensors that can detect movements and offer coaching through an app.
- Sri Lanka’s MAS worked on OMSignal sports bra which debuted as world’s first smart bra. It works same as OMSignal shirts that detects range of biometrics that would improve wearer’s fitness performance.
- Other notable wearable is running shoes by Under Armour, which tracks the performance without using a phone. Sensoria Fitness introduced smart socks, and Swarovski developed a fitness-tracking neckpiece/necklace.
The major challenge is convincing consumers to adopt wearable tech, which can be overcome with increased motivation. The best motivation will come ahead when change happens in your own life it becomes addictive.
Need of more sophisticated wearable apps
With improved ideas and designs of wearables, app development for these devices will also become little more sophisticated and advanced. According to Weston Henderek, Director of Connected Intelligence at The NDP Group, “Apps will utilize sensors in activity trackers.”
Why Choose Krify as your wearable app development partner
At Krify, we have enthusiastic and experienced team of app developers that specifically focus on building apps for wearable devices. Our finest designers and developers have been groomed for wearable application development.
We continue to pioneer in best in class mobile app development. We believe in serving entrepreneurs with world-class app building experiences for wearable devices and mobiles, whether it’s a large enterprise or start-up.
Contact us to hire our professional app builders for your need of customized mobile application or wearable device application.
