Skip to main content

Wearable Device Revenues will Grow to $6+ Billion

More analysts are assessing the upside opportunities for mobile health and fitness-related apps. In a new assessment of the mobile healthcare market, ABI Research finds wearable wireless device revenues will grow to exceed $6 billion in 2018.

Of the four wearable device segments tracked, sports, fitness and wellness is the largest -- never dropping below 50 percent share of all device shipments over the forecast period.

"Fitness activity trackers are quickly gaining popularity in the market. Different from other more single-use or event-centric devices, activity trackers monitor multiple characteristics of the human body including movement, calories burned, body temperature, and sleep tracking," said Adarsh Krishnan, senior analyst at ABI Research.

Activity trackers are expected to grow at a 40 percent CAGR and overtake the 2013 shipment leader, heart rate monitors, in 2017.

The second largest market -- home monitoring devices -- which, primarily target the growing elderly care market, is also expected to witness strong growth over the next five years with overall device revenue growing at CAGR exceeding 39 percent.

This segment is also anticipated to see the development of cross-over devices such as personal emergency response devices supplemented with activity tracker features.

The remaining wearable wireless device segments are remote patient monitoring and the professional (On-Site) healthcare market.

These markets are unique due to relatively fewer suppliers and high device costs. Average costs for ECG monitors exceed $200; continuous glucose monitors exceed $800.

To date, blood pressure monitors and pulse Oximeters remain the most popular devices in these market segments.

These findings are part of ABI’s mHealth research service that looks at the rapidly developing market for wearable wireless sensors and their connectivity to gateway devices and smartphone applications across sports, fitness and wellbeing, home healthcare, remote patient monitoring, and on-site professional healthcare markets.

Popular posts from this blog

Industrial Cloud Computing Apps Gain Momentum

In the manufacturing industry, cloud computing can help leaders improve their production efficiency by providing them with real-time data about their operations. This has gained the attention of the C-suite. Total forecast Industrial Cloud platform revenue in manufacturing will surpass $300 billion by 2033 with a CAGR of 22.57 percent, driven by solution providers enhancing platform interoperability while expanding partner ecosystems for application development. ABI Research found the cloud computing manufacturing market will grow over the next decade due to the adoption of new architectural frameworks that enhance data extraction and interoperability for manufacturers looking to maximize utility from their data. Industrial Cloud Computing Market Development "Historically, manufacturers have built out their infrastructure to include expensive data housing in the form of on-premises servers. The large initial upfront cost of purchasing, setting up, and maintaining these servers is

Demand for Quantum Computing as a Service

The enterprise demand for quantum computing is still in its early stages, growing slowly. As the technology becomes more usable, we may see demand evolve beyond scientific applications. The global quantum computing market is forecast to grow from $1.1 billion in 2022 to $7.6 billion in 2027, according to the latest worldwide market study by International Data Corporation (IDC). That's a five-year compound annual growth rate (CAGR) of 48.1 percent. The forecast includes base Quantum Computing as a Service, as well as enabling and adjacent Quantum Computing as a Service. However, this updated forecast is considerably lower than IDC's previous quantum computing forecast, which was published in 2021, due to lower demand globally. Quantum Computing Market Development In the interim, customer spend for quantum computing has been negatively impacted by several factors, including: slower than expected advances in quantum hardware development, which have delayed potential return on inve

Contact Center as a Service Gains AI Benefits

Enterprise leaders with large customer care organizations are exploring Artificial Intelligence (AI) applications to improve their online customer experience, increase operational efficiency, and reduce costs to improve profitability. Trained AI can be used to automate tasks, such as answering routine questions, freeing up contact center agents to focus on more complex inquiries. AI can also be applied to personalize the customer experience by recommending new offerings. Additionally, AI can be deployed to analyze vast amounts of existing customer data to identify support trends and patterns, which can be used to improve the overall customer experience. Customer Care AI Market Development Worldwide Contact Center (CC) and Conversational AI, including virtual assistant end-user spending is projected to total $18.6 billion in 2023 -- that's an increase of 16.2 percent from 2022, according to the latest market study by Gartner. "Near-term investment growth rates for CC and CC Con