Buyers rejoice
The future outlook for wearable technology is looking to be very strong. According to Yahoo Finance in 2022, the wearable technology market is set to reach 118.16 billion dollars USD by 2028. Currently, it is at 62.11 billion dollars USD, which means that the market will double within 6 years.
New pandemic, new world
Covid-19 has shown the world that we do need to care about our health and wearables are a great way to help us track our physical condition and encourage us to maintain our physical fitness. For instance, Research and Market’s report in 2021 stated that the pandemic increased social media usage and the popularity of yoga. These trends will most likely continue, which would maintain the demand for these wearable devices. This would include devices such as smartwatches and similar trackers such as wristbands or smart clothing.
Supplementary Markets
New advancements in supplementary technologies such as smartphones, more accurate sensors and VR/AR devices have also proved helpful in accelerating the wearable market. For instance, the newer generation of smartwatches are able to sense stats such as body fat percentage and blood oxygen levels. These advancements will continue to improve the functions of wearable devices to better suit our lifestyle. AR and VR devices also gives wearable devices entertainment value as smart clothing gives opportunities to fully immerse ourselves within the digital world.
One for all?
While some of the more premium devices will still remain out of reach for the average consumer, the proof of concept for these new technologies will further refine and commercialize products that would change how we interact with technology. While the health functions of wearable devices have been explored thoroughly, the usage of wearables to enhance our physical literacy and performance will be in our near future.
With multiple ways to expand and a constant need for multi-functional wearable devices, the future outlook will only get stronger as user habits change and supplementary technology further stimulates the development of wearable technology.
The future outlook for wearable technology is looking to be very strong. According to Yahoo Finance in 2022, the wearable technology market is set to reach 118.16 billion dollars USD by 2028. Currently, it is at 62.11 billion dollars USD, which means that the market will double within 6 years.
New pandemic, new world
Covid-19 has shown the world that we do need to care about our health and wearables are a great way to help us track our physical condition and encourage us to maintain our physical fitness. For instance, Research and Market’s report in 2021 stated that the pandemic increased social media usage and the popularity of yoga. These trends will most likely continue, which would maintain the demand for these wearable devices. This would include devices such as smartwatches and similar trackers such as wristbands or smart clothing.
Supplementary Markets
New advancements in supplementary technologies such as smartphones, more accurate sensors and VR/AR devices have also proved helpful in accelerating the wearable market. For instance, the newer generation of smartwatches are able to sense stats such as body fat percentage and blood oxygen levels. These advancements will continue to improve the functions of wearable devices to better suit our lifestyle. AR and VR devices also gives wearable devices entertainment value as smart clothing gives opportunities to fully immerse ourselves within the digital world.
One for all?
While some of the more premium devices will still remain out of reach for the average consumer, the proof of concept for these new technologies will further refine and commercialize products that would change how we interact with technology. While the health functions of wearable devices have been explored thoroughly, the usage of wearables to enhance our physical literacy and performance will be in our near future.
With multiple ways to expand and a constant need for multi-functional wearable devices, the future outlook will only get stronger as user habits change and supplementary technology further stimulates the development of wearable technology.