The wearable tech market is expanding very fast. The boundaries to a world where everything will be on the tip of touch are nearing this era. Gradually, from time, health, well being and to luxury everything has been fitted into a small wrist band or a smartwatch.
Most of the time, wearables are considered useful when they have something in common to health or fitness. For example, all those lavish wearables that can easily gauge your strength while swimming, running or playing basketball or while your daily walk, are considered helpful apart from the usual showoff.
Just recently, according to a report released by IDTechEx a week ago, all of the above discussion seems to be proven true. The report claims that;
“The wearable technology market is expected to rise from $20 billion in 2015 to close to $70 billion in 2025 led by the healthcare sector.”
It confirms our assumptions that everyone with the heavy pocket is opting to buy something that is going to suit their wrists plus also providing them some good tips around health department. The statement also makes it obvious that within a short span of time wearable market is definitely going to raise high with the expected increase of $50 million. And most of the appraisal will be due to the emerging health sector significance in wearable technology.
Most of the growth carried out in the sector is due to some very big names right now. But it also expected that small scale technologies with innovative ideas can also rule market very soon. The popular names include Adidas, Apple, Accenture, Nike, Fujitsu, Philips, SAP, Reebok, Roche, and Samsung.
The lead of the health sector could be due to many reasons. The major of which includes that advanced informatics have a massive impact on healthcare and related devices. This form of advancement can pave way to multi-billion dollar opportunities.
IDTechEx has thoroughly gone through emerging patents filed, Google trends and the current sales and hit mark of wearables in the report. The report also estimates that there will be about three billion sensors fitted in some sort of gadget or device or work independently by 2025, with 30% of the total of the emerging sensor type.
IDTechEx report also names the present 15 types of sensors used in various wearables. These include inertial measurement units (accelerometers, gyroscopes, magnetometer and barometers), optical sensors (including optical heart rate monitoring, PPG and cameras), temperature sensors, wearable electrodes, flexible stretch, chemical sensors, pressure and microphones, impact sensors temperature sensors, and many more.