Wearable Technology Innovation to Drive Market Growth
Northampton, UK 4 September 2012 – With 170 million wearable devices forecast to be shipped in 2016, the wearable technology market is already attracting a host of suppliers with exciting innovations for a range of applications. Wearable products, the vendor landscape and factors affecting market growth are discussed in a new white paper, Wearable Technology – A Global Market Overview, by IMS Research (recently acquired by IHS (NYSE: IHS)). The complimentary white paper is based on IMS Research’s report World Market for Wearable Technology – A Quantitative Market Assessment – 2012.
A major challenge for suppliers is to establish and expand the number of compelling use-cases for wearable devices. Key success factors include device size, non-invasiveness, ability to measure multiple parameters and provide automated feedback that improves user behaviour.
Increasingly, wearable devices must accomplish multiple tasks in order to be considered significantly useful. This means integration of multiple sensors and transducers, support for different connectivity profiles and reduced power consumption; thus creating opportunities for both brand manufacturers and component suppliers.
“Even in infotainment, where ‘coolness’ can sometimes drive product adoption, wearable devices must establish their extra usefulness against smartphones and mobile applications. Consumers may question the value of smart watches or smart glasseses if they cannot do anything that their smartphone cannot do – apart from being wearable,” commented Theo Ahadome, senior analyst at IMS Research.
In addition to established companies such as Nike, Cardionet and Motorola, there is an increasing number of newer entrants with potentially disruptive technologies that are looking to address these challenges. These include non-invasive blood measurements from C8 Medisensors and OR Sense, multi-parameter wearable sensors from Proteus and Sotera Wireless, and adaptive clothing from Electricfoxy. Potentially disruptive products in infotainment include the Pebble watch, Google Glasses and Sony’s head-mounted displays for gaming. In industrial and military aplications, hand-worn terminals from Eurotech and smart fabric sensors from Zephyr are all projected to help establish use-cases for wearable technology.
Click here to download IMS Research’s white paper Wearable Technology – A Global Market Overview.
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About the report, World Market for Wearable Technology – A Quantitative Market Assessment – 2012
The report assesses how and why wearable products will be adopted over the next five years. It analysis product and technology trends in Wearable Technology and provides a detailed quantitative analysis in terms of units, revenues and average selling prices for over twenty wearable products in four main application areas: Fitness and Wellness; Healthcare and Medical; Infotainment; Industrial and Military.
About IHS (www.ihs.com)
IHS (NYSE: IHS) is the leading source of information, insight and analytics in critical areas that shape today’s business landscape. Businesses and governments in more than 165 countries around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS employs more than 6,000 people in more than 30 countries around the world.
About IMS Research (www.imsresearch.com)
IMS Research, recently acquired by IHS (NYSE: IHS), is a leading supplier of market research and consultancy to over 2500 clients worldwide, including most of the world’s largest technology companies. Established in the UK in 1989, IMS Research now has dedicated analyst teams focused on the factory automation, automotive, communications, computer, consumer, display, financial & ID, LED & lighting, medical, power & energy, solar PV, smart grid and security markets. Currently publishing over 350 different syndicated report titles each year, these in-depth publications are used by major electronics and industrial companies to assess market trends, solve marketing problems, and improve the efficiency of their businesses.