Skip to main content

Smart Wireless Accessories will Exceed $23B in 2018

The development of the smartphone and app store model has in turn created an ecosystem of applications within which hardware peripherals can enhance the functionality of the smartphone for specific purposes.

Juniper Research has revealed that hardware and service revenues from app-enabled smart wireless accessories will exceed $23 billion in 2018 -- that's compared to $2 billion this year.

The key areas driving this growth will be fitness, health, consumer clectronics (CE), payments and enterprise devices. This revenue growth will be propelled by four key elements:

An increase in the adoption of the software as a service proposition; the development of additional services delivered within the app; the emergence of a freemium model in fitness and healthcare wearables; and the rise of payment transaction revenues.

Robust Ecosystem needed for Service Model Development

According to the latest market study by Juniper Research, several business models exist within the smart wireless accessories market, defined to some extent by the segments to which they belong.

The development of a robust environment for the creation of peripheral based business models will affect how revenue is generated within the market along with technology standards and regulations playing their part, especially with regard to payments and healthcare accessories.

"The wireless accessory ecosystem is still developing and will evolve over the next five years to become a reality for a much broader audience," said Nitin Bhas, senior analyst at Juniper Research.


Rapid Development Forecast for Payment Accessories

Juniper notes that while new, as yet undeveloped, use cases will emerge in the consumer electronics market over the forecast period, the business case supporting payment smart wireless accessories is both intuitive and credible.

While this supports the rapid development of payment accessories in the medium term, companies are likely to focus on core markets for the foreseeable future, accounting for the market being skewed towards the US, Europe and Far East where services are currently being offered.

Other key findings from the market study include:
  • Smart wireless accessory shipments forecast to approach 170 million by 2018.
  • A multi-channel strategy is essential to gain traction in the race to secure a place in this new market.

Popular posts from this blog

Digital Transformation for the Oil and Gas Sector

The savvy CEOs of multinational organizations will accelerate their investment in digital transformation projects in 2022, and beyond, to improve their competitiveness. Every industry leader that is forward-looking will act swiftly to grasp the upside opportunity. Global oil & gas companies face a myriad of operational, commercial, and existential security threats. According to the latest worldwide market study by ABI Research, oil & gas firms apply digitalization to combat these threats and will spend $15.6 billion on digital technologies by 2030. Oil & Gas Digital Apps Market Development Investments in digitalization can help to analyze a supply pipeline’s condition, prepare for fluctuations in the changing prices for oil and gas, as well as aid action plans to create more sustainable operations and transfer to producing renewable energy sources. "Safety and Security are top priorities for oil & gas operators. Data analytics allied with IoT platforms have become

The Fastest-Growing Mobile Opportunity in 2022

The number of mobile communication subscriptions worldwide is currently estimated at 8 billion, with 6 billion on smartphone connections, from a user base of 5.9 billion unique subscribers among a global population of 7.9 billion. Fifth-generation (5G) mobile service subscriptions using a compatible device significantly grew during the COVID-19 pandemic, but 4G connections remain the dominant force within the global telecom service provider sector. While the use of mobile phones is common throughout developing nations, 4G services are still an emerging technology in many parts of the world. Overall, 5G subscriptions will likely grow from 580 million at the end of 2021 to 3.5 billion by the end of 2026. 5G Mobile Market Development According to the latest worldwide market study by Juniper Research, revenue generated from 5G mobile services will reach $600 billion by 2026 -- representing 77 percent of global network operator-billed revenue. The adoption of 5G services across consumer and

2022 Tech Trends Outlook: What Happens Next?

This year may very well be another period of unprecedented challenges and opportunities. In 2022, several highly anticipated technology-related advancements will NOT happen, according to the predictions by ABI Research. Their analysts identify many trends that will shape the technology market and some others that, although attracting huge amounts of pundit speculation and commentary, are less likely to advance rapidly over the next twelve months. "The fallout from COVID-19 prevention measures, the process of transitioning from pandemic to endemic disease, and global political tensions weigh heavily on the coming year's fortunes," said Stuart Carlaw, chief research officer at ABI Research . What Won’t Happen in 2022? Despite all the headlines and investments, the metaverse will not arrive in 2022 or, for that matter, within the typical 5-year forecast window. The metaverse is still more of a buzzword and vision than a fully-fledged end goal with a clearly defined arrival d