PUBLISHER: Mind Commerce | PRODUCT CODE: 1058052
PUBLISHER: Mind Commerce | PRODUCT CODE: 1058052
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 2022 to 2027.
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, we see 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.
We see 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 in healthcare and personal assistance, the third-generation Oura Ring, which was unveiled in November 2021, offers the unique ability to measure minute changes in body temperature to help women accurately predict their menstrual cycles and potentially detect when a person is getting sick.
Regarding wearable technology evolution, Mind Commerce sees 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.
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