Although the wearable device market is not yet mature, it is still growing. Currently, there are about 160 types of wearable devices worldwide, such as trajectory tracking devices, smart watches, smart glasses, and embedded sensors that are safe in clothes. IDTechEX predicts that the market for wearable devices will reach 70 billion U.S. dollars over the next decade. With the advancement of technology and the continuous introduction of new product areas, wearable products are rapidly entering human life and changing human lifestyles. A major branch of wearable products is health-care wearables, such as devices for the care of the elderly and babies, wearables for monitoring sleep and health, and of course the best-selling wearable devices today are smart watches and sport bracelets.
Gartner predicts that global shipments of wearable devices will reach 276.4 million units in 2016, an increase of 18.4% from the 232 million units shipped in 2015. 2016 wearable device sales reached 28.7 billion US dollars, of which smart watches about 11.5 billion US dollars.
"Depending on the ability of Apple products to lead the trend, smart watch acceptance rate will increase by 48% from 2015 to 2017. From now until 2019, smart watches may be the largest branch of the wearable market with sales of up to $17.5 billion. "Gartner said in the report.
In the coming years, the top ten aspects of wearable technology are as follows:
1. Opportunity: According to the forecast of PricewaterhouseCoopers, the entertainment, media & communications (EMC) industry will create the greatest opportunity for the growth of the wearable market. Basically, as long as there is a screen application, there will be a wearable opportunity, and the EMC industry is such an application. With good estimates, shipments of wearables in these industries could reach 130 million units in 2018, which is naturally a big opportunity.
2. User-friendly selection of devices: Users may need to be more humane in their choice of devices and their associated applications (apps). For example, an “apps formulary†certified by medical professionals helps users select the right devices and applications from thousands of health applications and devices.
3. Wearable devices will benefit from social media: Social media has become the basic way to receive information and communicate with others. With wearable devices, you can meet the needs of users accessing social networks anytime, anywhere. Millennials update social media three times as often as average people, and social media will benefit wearables.
4. Adjunctive treatment of chronic diseases is one of the driving forces for the growth of wearable products: From the perspective of the United States, consumption and medical applications are also one of the driving forces for the growth of the wearable market. In particular, with the increase in the incidence of chronic diseases such as diabetes, the market for wearable products is increasing. Sports bracelets and smart watches are also integrating health functions. However, the application of these products in health care applications is still unsatisfactory. People are satisfied.
5. Gathering data using wearable technology: Using data collected from wearable devices, insurance companies or employers can better manage health care costs. Pharmaceutical and life science companies can do more clinical trials, and medical service companies have collected The data determines reimbursement expenses. With the ever-increasing computing power, wearable devices have become small in size and are therefore popular with young people. They will record fitness data for watches, heart rate monitors, and other wearable health devices to send these valuable health data thousands of miles away via an iPhone application. Of course, commercial companies need to consider this cost, user privacy, and ease of use.
6. Attract users with strong health awareness: From smart watches that record heart rate to smart bracelets that track motion trajectories, more and more health-conscious users are beginning to focus on the application of wearable technology in health care. One of the two main purposes of developing wearable technology is to detect the user's physical status and synchronize the data to a parent device such as a smart phone. Certain wearable devices can also perform calculations on the device itself, and perform corresponding calculations based on the calculation results. Actions, such as whether to use drugs for patients.
7. New application value mining: Many big companies started to launch smart watches and smart bracelets. With the addition of such giants as Apple and Samsung, the appearance and user experience of wearable products will increase dramatically. SmartBills such as Fitbit started to consider how to compete with smartwatches. In addition to fitness applications, smart bracelets are expanding into new application scenarios such as mobile payments, authentication, security and health.
8, fitness applications: In the United States, due to the promotion of government health projects, including smart wristbands, smart clothes, smart chest straps, smart sports watches and other fitness applications wearable devices more and more popular. In 2016, smart watches will be the most popular in this type of application because the smart watch integrates multiple functions to facilitate the user to track the exercise results.
9, bring new technologies: in the wearable area to get the trust of users, companies must always adhere to the transparency of data operations, these data related to user privacy, companies need to tell the user what kind of operations on these data and these When will the data be used? Wearable technology based on organic electronics can now produce flexible displays and sensors that are used in a wide range of applications, including wearable devices, mobile devices, industrial equipment, automobiles, and biomedical devices.
10. Embracing wearable technology: It is imperative to focus on users and reshape corporate values ​​and system capabilities in order to improve the user experience so as to develop wearable technologies more effectively. Today, wearable products are mostly used for wrist wear, but with the development of flexible circuits, wearable devices will increasingly appear in other forms such as clothes, accessories and shoes. Wearable devices and applications help users to record heart rate and meal status, monitor the user’s psychological status, and even detect the surrounding air quality. For ordinary people, being a “healthy me†becomes a reality.
to sum up
Market analyst firm CSC Insight said that wearable device shipments will grow from 29 million in 2014 to 172 million in 2018, with the peak in 2015. Fitbit and Jawbone will still dominate the wearable market. CSC Insight expects 2016 fitness and activity tracking wearable device shipments will reach 40 million, double the 2015. In 2020, the global wearable market can reach US$31.27 billion, and its compound annual growth rate from 2015 to 2020 is 17.8%.
Although the market for wearable devices looks promising, the acceptance of wearable devices by users will be a long-term process. The use of wearable devices for commercial purposes is now the direction many companies are beginning to consider.
Gartner predicts that global shipments of wearable devices will reach 276.4 million units in 2016, an increase of 18.4% from the 232 million units shipped in 2015. 2016 wearable device sales reached 28.7 billion US dollars, of which smart watches about 11.5 billion US dollars.
"Depending on the ability of Apple products to lead the trend, smart watch acceptance rate will increase by 48% from 2015 to 2017. From now until 2019, smart watches may be the largest branch of the wearable market with sales of up to $17.5 billion. "Gartner said in the report.
In the coming years, the top ten aspects of wearable technology are as follows:
1. Opportunity: According to the forecast of PricewaterhouseCoopers, the entertainment, media & communications (EMC) industry will create the greatest opportunity for the growth of the wearable market. Basically, as long as there is a screen application, there will be a wearable opportunity, and the EMC industry is such an application. With good estimates, shipments of wearables in these industries could reach 130 million units in 2018, which is naturally a big opportunity.
2. User-friendly selection of devices: Users may need to be more humane in their choice of devices and their associated applications (apps). For example, an “apps formulary†certified by medical professionals helps users select the right devices and applications from thousands of health applications and devices.
3. Wearable devices will benefit from social media: Social media has become the basic way to receive information and communicate with others. With wearable devices, you can meet the needs of users accessing social networks anytime, anywhere. Millennials update social media three times as often as average people, and social media will benefit wearables.
4. Adjunctive treatment of chronic diseases is one of the driving forces for the growth of wearable products: From the perspective of the United States, consumption and medical applications are also one of the driving forces for the growth of the wearable market. In particular, with the increase in the incidence of chronic diseases such as diabetes, the market for wearable products is increasing. Sports bracelets and smart watches are also integrating health functions. However, the application of these products in health care applications is still unsatisfactory. People are satisfied.
5. Gathering data using wearable technology: Using data collected from wearable devices, insurance companies or employers can better manage health care costs. Pharmaceutical and life science companies can do more clinical trials, and medical service companies have collected The data determines reimbursement expenses. With the ever-increasing computing power, wearable devices have become small in size and are therefore popular with young people. They will record fitness data for watches, heart rate monitors, and other wearable health devices to send these valuable health data thousands of miles away via an iPhone application. Of course, commercial companies need to consider this cost, user privacy, and ease of use.
6. Attract users with strong health awareness: From smart watches that record heart rate to smart bracelets that track motion trajectories, more and more health-conscious users are beginning to focus on the application of wearable technology in health care. One of the two main purposes of developing wearable technology is to detect the user's physical status and synchronize the data to a parent device such as a smart phone. Certain wearable devices can also perform calculations on the device itself, and perform corresponding calculations based on the calculation results. Actions, such as whether to use drugs for patients.
7. New application value mining: Many big companies started to launch smart watches and smart bracelets. With the addition of such giants as Apple and Samsung, the appearance and user experience of wearable products will increase dramatically. SmartBills such as Fitbit started to consider how to compete with smartwatches. In addition to fitness applications, smart bracelets are expanding into new application scenarios such as mobile payments, authentication, security and health.
8, fitness applications: In the United States, due to the promotion of government health projects, including smart wristbands, smart clothes, smart chest straps, smart sports watches and other fitness applications wearable devices more and more popular. In 2016, smart watches will be the most popular in this type of application because the smart watch integrates multiple functions to facilitate the user to track the exercise results.
9, bring new technologies: in the wearable area to get the trust of users, companies must always adhere to the transparency of data operations, these data related to user privacy, companies need to tell the user what kind of operations on these data and these When will the data be used? Wearable technology based on organic electronics can now produce flexible displays and sensors that are used in a wide range of applications, including wearable devices, mobile devices, industrial equipment, automobiles, and biomedical devices.
10. Embracing wearable technology: It is imperative to focus on users and reshape corporate values ​​and system capabilities in order to improve the user experience so as to develop wearable technologies more effectively. Today, wearable products are mostly used for wrist wear, but with the development of flexible circuits, wearable devices will increasingly appear in other forms such as clothes, accessories and shoes. Wearable devices and applications help users to record heart rate and meal status, monitor the user’s psychological status, and even detect the surrounding air quality. For ordinary people, being a “healthy me†becomes a reality.
to sum up
Market analyst firm CSC Insight said that wearable device shipments will grow from 29 million in 2014 to 172 million in 2018, with the peak in 2015. Fitbit and Jawbone will still dominate the wearable market. CSC Insight expects 2016 fitness and activity tracking wearable device shipments will reach 40 million, double the 2015. In 2020, the global wearable market can reach US$31.27 billion, and its compound annual growth rate from 2015 to 2020 is 17.8%.
Although the market for wearable devices looks promising, the acceptance of wearable devices by users will be a long-term process. The use of wearable devices for commercial purposes is now the direction many companies are beginning to consider.
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