New research has been released this week which suggests that by 2018 over 250 million smart wearables will be in use, a number 14 times more than that in 2013.
The data, released by research company CCS, is also predicting that wrist-worn devices that act as an extension to the smartphone will account for 87% of these wearables. The figure of 250 million is set to include 68 million smartwatches and 50 million smartbands.
Marina Koytcheva, CCS Insight’s Director of Forecasting commented on the findings that: ‘the wearables market is in its Stone Age right now. There needs to be huge improvements to broaden their appeal. This is particularly acute when it comes to devices for women: wearables need to quickly move on from black, clunky devices; fortunately we’re starting to see the first steps in this direction.’
Along with commenting on the primitive stage of this burgeoning market, Koytcheva believes that the wheels of motion could be enhanced if Apple decided to enter the market. She is also quick to suggest that companies need to focus on broadening the appeal of the devices.
In the near future, the company also suggests that North America will remain the continent of early adoption, already playing home to 40% of the wearable devices market. Along with this, consumers will also start to see SIM cards integrated into different devices, creating a new product line of smart wearables.
The research attempts to take stock of an industry that has captured the imagination of the technology industry. Several industries are taking great interest in the potential of sensor based technology as it allows for organisations to better understand their customer. The rapid momentum which has been earmarked for this technology appears warranted as long as the technology being offered to the consumer is value. OCM.
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