It is readily apparent for those who observe such things that the wearable technology market is scaling steadily. It is a growth industry because there are so many different applications for the wearable app, and it has a place in so many niches.
Wearable devices infused with tech brought in total revenue of $28 Billion US in 2016. By 2020, that number should be $34 Billion US. This technology presents a great opportunity for entrepreneurs and businesses of all sorts, and these numbers are a clear indicator of that.
According to Business Insider Intelligence research, the total installed base of fitness trackers and health-based wearables in the US will grow at an annualized rate of 10%. It will surpass 120 million by 2023, a significant portion of the American population. The usage of other wearable devices like head-mounted displays, ear worn gadgets or smart clothing is growing, while still the smartwatch tops the list.
Are you unsure about whether your company needs an application supporting wearable technologies? You shouldn’t delay any longer in reviewing the research and making a decision. Let’s talk about wearable tech, and how it can relate to your business strategy and app marketing going forward.
What is the Definition of Wearable Technology?
Wearable Technology is a category of tech devices that are worn by a user. That might be either directly, as an accessory, or as part of other materials, such as clothing. These wearables connect to the internet, either directly or through a smartphone. They perform many different functions by exchanging data between a network and the device.
In What Industries is Wearable Tech Going to Have the Greatest Impact?
Healthcare
Through wearable health technology, doctors can keep track of a patient’s medical condition. Critical insights can be established that way with ease. This more advanced and analytical diagnostic process is something that has never been possible until recently with the advent of health wearables.
Wearable technology in healthcare is a powerful solution to save both time and hospital resources. For instance, there are wearable medical devices like the Zephyr Anywhere BioPatch. It can be affixed to a patient’s chest to monitor medical status and convey real-time information to doctors. It’s a medical instrument that can deliver alerts to doctors’ smartwatches or smartphones, aiding in intensive care cases. Wearable IoT technology can also successfully incorporate artificial limbs, wheelchairs, and various other supportive devices.
Wearable devices tie into the rising popularity of augmented reality technology. AR use cases in healthcare, when combined with wearable devices, shows a great deal of promise for saving time, money, and even lives. A wearable blood pressure monitor could be what it takes to prolong a life by many years. Meanwhile, the wearable sleep tracker in 2018 was a category in which many individuals took an interest last year.
Fitness and Sport
Over 3,000 health and fitness professionals were interviewed by The Worldwide Survey of Fitness Trends for 2020. All of them responded that the wearable fitness tracker would be the top trend next year. They cited the fact that millions of Americans are already using such technology.
A wearable blood pressure monitor watch is at the top of many individuals’ wish lists this holiday season.
Those who utilize fitness wearables can accurately monitor their exercises, heart rate, calorie consumption, sleep quality, and step count throughout the day. The best wearable tech has made it easier than ever for users to collect this sort of critical health data. It also enables them to work with fitness professionals and health care providers to improve exercise efficiency. They can develop healthier lifestyles, manage chronic diseases, and ultimately, make the quality of their lives better.
A wearable heart rate monitor can help someone at virtually any point in their life. The best wearable fitness tracker is an item that many people won’t want to live without in the immediate future.
Marketing
Well-known wearable gadgets like Google Glass and smartwatches enable marketers to collect vital information on the purchasing habits of the niche that they are targeting. Business owners, entrepreneurs, and app developers can also identify lucrative possibilities from this trend. The existence of smart wearables means developers must create apps for contemporary systems. They must also devise improvised data collection techniques for wearables.
Savvy companies will be able to come up with an affordable wearable. Sports fan sites will advertise it, and then the fans will wear it to games. It will eliminate the need to bring paper tickets that can be easily counterfeited.
GPS
Navigation is another area where there will be developments in the coming year having to do with wearables. A wearable GPS tracker with real-time tracking can send out locations if individuals are trying to find one another. Modern wearable devices and smartphones come with compasses, gyroscopes, accelerometers, and motion trackers. With this data available, a smart wearable device or an app can measure cadence, total calories burnt, speed, and distance traveled.
Fashion
The integration of technology and clothing has been in the works for quite a while. For instance, think about the application of LED strips and lighted panels as part of some outfits. In 2015, Dutch researchers created stretchable LEDs laminated into textiles. They come with thin-film-transistors, and they are as comfortable as they are practical. These wearable sensors have many different possible uses.
In 2015 and 2016, applications of LED strips, bioluminescence, and other lighted effects were all the rage on the runways of New York Fashion Week. Textile sensor designs are something in which many of the top clothing companies have taken an interest. E-textiles, smart textiles and smart fabrics contain digital and computing components. These electronics are embedded directly into them.
One example of the fashion industry using innovative design through e-textiles would be CuteCircuit in the UK. They introduced the market to the Hug Shirt. It allows the user to send electronic hugs through sensors in the shirt. Impressed by this wearable technology? Fashion dictates trends, but new gimmicks do as well. It seems likely that similar tech to this will be showing up in many other stores before long.
Defense and Security
These two areas have also shown an interest in wearable tech for practical purposes. There are already tactical vests that can be worn by combat troops and law enforcement officers which can monitor their vital signs. These vests can transmit critical real-time surveillance and mapping intelligence.
Other wearables being developed include cameras, radio systems, rugged computing, and night-vision goggles integrated with augmented reality elements. Advanced switches, hubs, batteries to recharge devices, and nano-drones that connect with wearable tech are also in the works.
Industrial Applications
As it relates to industrial applications and wearable tech, smart Personal Protective Equipment (PPE) such as glasses and gloves are being developed. That’s in addition to head-mounted displays, embedded cameras, and audio devices which can improve worker safety and health management in physically demanding, hazardous occupations. Some of those would be construction, mining, energy development, oil and gas, and similar manufacturing processes. Industrial wearables can make dangerous jobs safer.
Wearable technology is both the present and the future. As the industries that we’ve mentioned become more interested in it and devote more money to developing this tech, others are sure to take notice.
Even if you operate in another industry you can consider wearable software development opportunities for your business. You still can lead your market using this innovative technology.
