Hi-Tech analyst, Juniper Research has revealed the key findings of its latest report, “Smart Wearable Devices: Fitness, Healthcare, Entertainment & Enterprise: 2013-2018”. The report finds that smart wearable device shipments including smart watches and glasses will approach 130 million by 2018, ten times higher than estimated this year. The report also notes that this change in adoption levels can be attributable to heightened consumer awareness of wearable technology and new product launches. It also observes that, with the emergence of major players and other key stakeholders, there is a much more focussed approach towards “wearable computing”.
Juniper report contends that the market attractiveness of wearable technology has led to the emergence of a host of players and competition is expected to intensify. However, the report notes that, as of now, wearable devices represent a “nice to have” and not a “must-have” for consumers.
Even though wearables are relatively new in terms of market maturity, it is clear that the market, for example the smart watch in particular, will be as per smartphones a somewhat crowded affair, stated Nitin Bhas, Senior Analyst, Juniper Research & Author of the report.
The report notes that there are a number of social and legal barriers to the deployment of wearable devices. However, not all of these hurdles will apply to every device, or indeed, every type of device.
As more wearable products are rolled out, Juniper expects that governments will, in turn, seek to develop regulatory frameworks to legislate their use, both from a privacy and data protection perspective.
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