Wearable tech has now gained rapid traction across the consumer market, providing tracking information on a real-time basis. Earlier, this technology was leveraged in the field of military technology. However, the evolution of smartphones has led wearable electronics to become the next big thing in the realm of technology. In a report, the market of wearable tech is expected to reach from US$19,633 million in 2015 to US$57,653 million in 2022, growing at a CAGR of 16.2 percent.
In the technology sector, wearable devices are progressively garnering huge attention as most companies are becoming digital. Apple, for instance, continues to lead the wearables market with its watch. According to a report from IDC, the company shipped a total of 46.2 million wearables in 2018. Today, wearables are already surpassing smartphones as the fastest-growing tech innovation.
Wearable devices currently are largely utilized for tracking information in real-time. They have motion sensors that take the snapshot of people’s day to day activity and sync them with mobile devices, laptops or computers. This technology space has mainly been led by fitness trackers like Fitbit, along with smartwatches that go beyond fitness into advanced health-tracking, productivity, and entertainment.
Going Beyond Smartwatches
Smartwatches are now not just telling time, it exceeds from it and provides users notifications on their calls, messages, emails, social media updates, and much more. With technological innovation, smart earbuds are becoming the biggest wearable tech after smartwatches. These smart earwears can integrate voice-activated virtual assistants like Apple’s Siri and Google’s Assistant. These devices also have the ability to match, or even exceed, the performance of smartwatches when it comes to delivering health monitoring services.
For instance, Apple’s heart monitor, which has already saved lives with its tracking solution, and these wearables continue to become more like second nature to use. On the other hand, Google’s Project Jacquard is developing yarns that incorporate touch, and gesture controls. Even, some companies are developing patches that can monitor individuals’ psychological states and health stats, like hydration and temperature.
It is also said that wearable devices could see expanded utilization in business settings in order to track workforce productivity and monitor their well-being. Moreover, higher-end devices will continue to enhance more functionality, while specialized ones will get better at performing their more limited jobs.
The Future of Wearables
The wearable device market will continue to improve and its future will be highly individualized, data-driven and analytics intensive. As the devices glean data, its interpretation is very significant. Machine learning algorithms are enabling the transformation of simple sensor input into more actionable health or activity data. It is also expected that wearable devices in years to come will solve personal monitoring, digital-physical interaction, consumer health-tech, and physical validation in a better way.
As wearables are hands-free in nature, it makes it very useful for businesses to track the emergency and rescue team, making the workplace more efficient and safer. Its hands-free access to essential data and information through smart glasses and smartwatches assists researchers, engineers, and technicians to be more efficient at their work.