Wearable technology is set for x5 growth
03 March 2014
Research in a report from IDTechEx predicts five-fold growth over the next decade for wearable technology in all its forms.
The Wearable Technology 2014-2024 report covers discrete electronic and electrical hardware sold on its own for bodywear; accessories such as electronic watches and earphones, jewellery, headgear, even skin patches and electronics integral in or distributed through apparel such as rucksacks and bandages.
Set to increase from over $14billion today to over $70billion in 2024, the dominant sector by value will remain the increasingly merged medical, healthcare, fitness, wellness sector, led by companies such as Addidas, Accenture, Fujitsu, Nike, Philips, Reebock, Roche, Samsung and SAP.
In infotainments, Google Glass and other eyewear will be a large sub-sector alongside smart wristwear. It is expected that just as the first volume wearable electronics - basic earphones and electronic wrist watches - moved to China at reduced prices, the largely conventional electronics is likely to be similarly commoditised within the decade.
Wristwear currently has the largest sale within advanced informatics but the multi-functionality in a small form factor brings problems.
The report surveys over 600 developers and suppliers. It analyses wearable electronics as part of the mobile phone, printed electronics, RFID and wristwatch markets.
Pic caption - Fig. 1.
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