Market Research Report
Wearable Technology Market by Device Type, Sector (Consumer, Enterprise, Industrial, and Government), Industry Verticals, Applications, Solutions, and Managed Services 2021 - 2026
|Wearable Technology Market by Device Type, Sector (Consumer, Enterprise, Industrial, and Government), Industry Verticals, Applications, Solutions, and Managed Services 2021 - 2026|
Published: February 3, 2021
Content info: 218 Pages
Delivery time: 1-2 business days
This report evaluates the current state of the wearable technology ecosystem including devices, applications, and industry segments. The report addresses wearables in consumer and business with consideration towards enterprise, industrial, and government use cases, key challenges, market players, and solutions. The report also provides an outlook for the future of wearable technology with forecasts for the period 2021 to 2026.
Wearable technology presents the potential for massive transformation in many industries. The more obvious ones include consumer electronics and communications. Early adopter industries include clothing, healthcare, sports and fitness. However, Mind Commerce sees many industries adopting wearable technologies as computing and wireless communications integrate wearable into virtually every aspect of products and services.
At the consumer level, increased perception of value and willingness to engage in wearable tech apps and services is building as new forms of communications, content, applications, and commerce become available. As WiFi6 is increasingly deployed in various public venues such as train stations and airports, companies will offer virtual reality as a means of infotainment and advertising, which will drive wearable technology sales and rentals. In addition, new consumer users of immersive technology will drive the adoption and usage of wearable technology due to improved portability and mobility associated with 5G.
Mind Commerce also sees several factors converging to facilitate wearable technology integration including expanded wireless capacity due to pervasive wireless (WiFi6, LTE, and 5G) and the need for wireless companies to establish new revenue streams, continuously decreasing cost of data, and the significant backing from huge companies including Google, Apple, and others. We also anticipate significant wearable tech developments in key technologies such as augmented reality, virtual reality, and next-generation telepresence.
In terms of wearable technology evolution, we see body area networks becoming a larger factor along with IoT integration involving sensors and haptic interfaces to provide a feedback loop that provides ambient awareness, increased performance, and user satisfaction for many immersive technology applications.