Skip to main content

Smart Wearable Device Revenue will Reach $19B

Wearable devices have been in existence for a number of decades, but it's only recently that they have captured the imagination of the general public. Juniper Research has revealed that the retail revenue from smart wearable devices -- including smart watches and glasses -- will reach $19 billion by 2018 compared with $1.4 billion this year.

Moreover, revenues will be driven by high price points for these devices allied to their anticipated strong market demand.

Based on the findings from its latest market study, Juniper has revised upwards the adoption of devices in the two key segments of consumer electronics ‘Multimedia & Entertainment’, and ‘Multi-functional’ devices.

Revisions such as these are common in the early years of a new technology category, and reflect the latest announcements from vendors across the sector.

"It is worth observing that this change in adoption levels can also be attributable to heightened consumer awareness of wearable technology and a better visibility of product adoption, especially in the smart watch segment," said Nitin Bhas, senior analyst at Juniper Research.

Service Revenue Opportunity from Applications

Juniper anticipates that over time several changes will occur in the smart wearable device market, partly as a result of developments in the software app model, and partly due to the increasing use of embedded cellular connectivity within devices.

Subscription revenues will be possible for certain sectors within the market. Companies such as Fitbit and FiLIP are seeking to develop recurring revenues through premium services -- facilitated via the smart wearable device or through commission for a service rendered by virtue of the device.

For example, FiLIP is an FCC approved app-based communication watch for children which combines GPS, Wi-Fi and cellular capabilities to keep parents and kids connected via two way voice calling, messaging and location functionalities.

The company’s service model is expected to include an up-front device price and an on-going monthly subscription plan.

Other key findings from the market study include:
  • Vendors need to address key hurdles and critical issues from a social and technological perspective to achieve mass adoption.
  • Significant opportunities will arise for app developers – across the health, fitness, sports and communication segments.

Popular posts from this blog

Low-Code Software Tools Fuel Transformation

Many CEOs have shared their concern that the digital transformation apps backlog within their organization is causing delays in planned growth initiatives. Therefore, they're investing in new approaches to the challenge. The worldwide market for low-code software development technologies is forecast to total $26.9 billion in 2023 -- that's an increase of 19.6 percent from 2022, according to the latest worldwide market study by Gartner. "Business Technologist" roles and a growing number of hyper-automation initiatives will be the key drivers accelerating the adoption of low-code software technologies through 2026. Low-Code Software Market Development "Organizations are increasingly turning to low-code development technologies to fulfill growing demands for speed application delivery and highly customized automation workflows," said Varsha Mehta, senior research specialist at Gartner . Equipping both professional IT developers and non-IT practitioners -- e.g.

How Savvy Leaders Re-Imagine Work in 2023

As we look to the year ahead, there will be significant challenges and opportunities facing the Chief Human Resource Officer (CHRO) role. In order to be successful, savvy HR leaders must be prepared to take proactive steps that adapt and evolve. "HR leaders have faced an increasingly unpredictable environment amid many organizations mandating a return to office, permanently higher turnover and burnt out employees," said Emily Rose McRae, senior director at Gartner . HR Innovation Market Development One of Gartner's key predictions for 2023 is that the use of artificial intelligence (AI) and automation will continue to increase within the enlightened digital workplace. This transition will require HR leaders to develop new skills and competencies in order to effectively manage and lead teams that are increasingly relying on these enabling technologies. Additionally, HR leaders will need to ensure that their organizations are investing in the necessary infrastructure and re

Secure Microcontroller Market to Reach $2.2 Billion

In spite of the volatile global semiconductor industry being plagued by ongoing macroeconomic and political disruption issues, the secure microcontroller (MCU) market should continue to prosper. While the forecasted total available market has contracted -- especially in the smart home, retail, advertising, and supply chain spaces -- secure MCU shipments will likely be temporarily affected.  According to the latest worldwide market study by ABI Research, the secure microcontrollers market will grow to reach $2.2 billion by 2026. Secure Microcontroller Market Development "In part, this is due to the niche nature of security demand which commands a higher value proposition," says Michela Menting, research director at ABI Research . In the short term, potential supply chain issues due to trade embargoes and global COVID-19 pandemic quarantines at manufacturing sites will affect availability. Yet, demand for security, especially in general purpose microcontrollers, will ensure the