Skip to main content

Smart Wearables Market will Reach $53.2 Billion in 2019

The idea of wearable technology as a mass market category is relatively new and still quite volatile -- where the expectations of change are very high. Moreover, some analysts say that user demand in the wearables market has already arrived, despite the relatively low adoption rates.

Research has also shown that retention rates for certain wearable devices are much lower than originally anticipated. However, this has not dampened the consumer electronics industry enthusiasm for wearable devices -- a case in point being the introduction of the Apple Watch this week.

The latest market study findings from Juniper Research has revealed that the global retail revenue from smart wearable devices are now forecast to treble by 2016, before reaching $53.2 billion in 2019.

The smart wearables market will be driven by an increase in sales of premium (very expensive) smart watches and smart glasses over the next five years.

This new market study assessment asserts that the recent entry of key industry players within the wearables sector has helped fuel an explosion of new devices in this increasingly crowded market.

However, Juniper argues that vendors still need to get over the "technology first" attitude and think in terms of consumer benefits for an increased product adoption. Besides, all these devices will need practical software apps to make them useful to their owners.


Wearable Technology also Needs Better Marketing

The market research observed that the majority of consumers are still unsure about the use-case for many wearable device types -- including smart watches and smart glasses.

In particular, potential users of these devices are hesitant to adopt wearable companion products with functionality that is very similar to that of their current smartphone.

Many of the recent developments, and much of the hardware, in the sector have come from start-ups and smaller companies. Key players have begun focusing on platform promotions -- such as Google Android Wear, Samsung SAMI data architecture or Intel Edison design platform.

This platform-centric market development approach enables them to respond easily to new device developments, rather than developing the actual devices themselves.

Meanwhile, Juniper anticipates that many of the more advanced technologies for wearables will be developed first for the enterprise and healthcare market segments, which have clearer use-cases. These segments will drive wearable technology forward, before being adapted for the mainstream consumer sector.

Other key findings from the market study include:
  • Smart watches will replace fitness wearables -- such as smart bands -- as the most purchased wearables category by 2017.
  • With smartphones increasingly becoming commoditized, wearables will remain companion devices, with many tied to specific mobile device operating systems to differentiate offerings.

Popular posts from this blog

Wireless Solutions Advance Work from Home Trends

Despite a challenging backdrop from the ongoing effects of the global COVID-19 pandemic, the negative impact on fifth-generation (5G) wireless supply chains has been minimal compared to the wider mobile smartphone market. This led to 5G mobile devices becoming more diverse, brought to market quickly at a variety of price points, thereby accelerating affordability and adoption. The mobile market is transitioning to 5G and many leading vendors are now exploring the low-priced 5G smartphone segment. According to the latest worldwide market study by ABI Research, 681 million 5G handsets will be shipped in 2022. Therefore, the race is on for OEMs to find that all-important level of differentiation in their flagship portfolios to help boost margins and improve market share. 5G Wireless Market Development Vendors continue to drive the adoption of new product designs, screen technology, chipsets, and camera setups -- notably within the flagship smartphone segment. Meanwhile, the leaders seek a

Software-Defined Infrastructure: The Platform of Choice

As more organizations adapt to a hybrid working model for their distributed workforce, enterprise CIOs and CTOs are tasked with delivering new productivity-enabling applications, while also seeking ways to effectively reduce IT cost, complexity, and risk. Traditional IT hardware infrastructure is evolving to more software-based solutions. The worldwide software-defined infrastructure (SDI) combined software market reached $12.17 billion during 2020 -- that's an increase of 5 percent over 2019, according to the latest market study by International Data Corporation (IDC). The market grew faster than other core IT technologies. The three technology pillars within the SDI market are: software-defined compute (53 percent of market value), software-defined storage controller (36 percent), and software-defined networking (11 percent). "Software-defined infrastructure solutions have long been popular for companies looking to eliminate cost, complexity, and risk within their data cente

Digital Identity Verification Market to Reach $16.7B

As more enterprise organizations embrace the ongoing transition to digital business transformation, CIOs and CTOs are adopting new technologies that enable the secure identification of individuals within their key stakeholder communities. A "digital identity" is a unique representation of a person. It enables individuals to prove their physical identity during transactions. Moreover, a digital identity is a set of validated digital attributes and credentials for online interactions -- similar to a person's identity within the physical world. Individuals can use a 'digital ID' to be verified through an authorized digital channel. Usually issued or regulated by a national ID scheme, a digital identity serves to identify a unique person online or offline. Digital Identity Systems Market Development Complementary to more traditional forms of identification, digital identity verification systems can enhance the authenticity, security, confidentiality, and efficiency of