Wearables have been the focus of much news, reviews, and other happenings around the world for some time now. But, we are really sorry that the hype of this tech is proving to be a fad and is soon fading from the public. However, the hype surrounding the industry was just about the fuss that whether this tech is futile or not. And, fortunately, it being died down is for the industry’s own good.
A lot more has been suggested and explained by a new report from IDTechEx. The report predicts a very strong, doubtless and question less future for this tech. The findings have been broken down into different stages of growth from the market perspective.
The report points out that there will be a fast 10% growth to $40 billion in 2018. The IDTechEx report further states that the popularity of wearables will reach to whooping $100 billion in 2023 with 23% growth.
As mentioned in the beginning, the report also states about the reducing hype of the wearables such as fitness trackers, Smartwatches, Smart clothes, and Smartglasses etc. These wearables will supposedly become the popular categories on their own and won’t be used as a general term in future.
The report states;
“The fickle nature of hype is beginning to show, and many companies are now progressing beyond discussing “wearables” to focus on the detailed and varied sub-sectors. The wearable tech market had been fuelled by a frenzy of hype, funding, and global interest and wearable technology were catapulted to the top of the agenda for companies spanning the entire value chain and the world. This investment manifested in hundreds of new products and extensive tailored R&D investigating relevant technology areas.”
Moreover, the connection of the wearables and their dependence on the Smartphones has been the topic of most of the conversations. A few companies have tried to break the chain and develop wearable without Smartphones but a mass action has still to be taken. And, this is what the IDTechEx report highlighted the most;
“Today, most smartwatches and many fitness trackers still rely, at least partially, on a connection to a smartphone hub. The ubiquity of the smartphone as a central platform has been a key enabler for growth in wearables so far, but all of the largest manufacturers now look to a future, where the hub itself may become wearable.”
Certainly, few more reports and findings of this type will help the wearable world flourish more and grow strong. You can access the full report from here.