Wearable Technology Market to Reach $150 Billion by 2026
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In the early days of wearable technology, Sony Ericsson and the London College of Fashion put on a contest to design digital clothing. The winning entry was a cocktail dress with Bluetooth technology sewn in to light up when calls were received. Today, wearable technology has two main categories: personal use and business use. And the hot markets for wearable technology include E-textiles, wearable computers, smart glasses, computer-mediated reality, clothing technology, healthcare, augmented reality, smart and connected products, and smart rings, to name a few.
According to IDTech, the wearable technology market is expected to reach $150 billion over the next decade. In their report, there are 39 different categories of wearables. Wearable technology is not only becoming more wearable, but it's also becoming fashionable, as with fashion electronics. At the same time, wearable technology, regulated by the FDA, is becoming safer while promoting such contemporary goals as weight management, physical fitness, stress management, sleep management, mental acuity, and more. Cats and dogs are also candidates for wearable technology as PitPat monitors pet activity.
There is a slew of websites dedicated to wearable technology news and reviews, and most wearable technology is sold on websites like Amazon or the Wearable Technology Store. Companies driving wearable technologies include WT, or Wearable Technologies, a pioneer and global leader in innovation and market development of platforms for wearable technologies. The company's website provides an overview of the recent use of wearable technologies including wearables for the football Super Bowl, industrial wearables, new technologies that will be used to create tomorrow's wearables, and technologies and components used in wearables.
Finally, Wearable Technology Ecosystems are being developed to help develop wearables market opportunities, provide roadmaps to the future, distribute case studies, and measure vendor market share. These ecosystems include support for app developers, service providers, original equipment manufacturers, and other technology providers.
Following is a review of the Wearable Technology Show 2016:
Article originally published on IndustryTap.com.
I keep hearing about how "Wearable technology" is the next untapped market ready to bloom into a large money fountain of unlimited wealth yet I cant get the image of all the fit bits we had to mark as clearance 80% off at GNC because no one ACTUALLY wants to wear that stuff.
I really haven't come across many people who are looking forward to monitoring their heart rate and glucose blood levels from an app on their glasses or on their small 1inch by 1inch wrist tablet.
I also don't quite think VR counts as a wearable technology, if so my Xbox 360 kinect was an "electronic exercise wearable technology device". Oh but that fad died out too. Just like google glass died out after a hot half year of hype.
It might be a booming market for the medical field. Or maybe I'm just getting old.
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Crazy! It's huge how much wearable tech has grown the past few years. A great example of this is the vitality of the glasses for the blind from OrCam. They're another wearable tech form, which are smart glasses for blind and they can also be used as optical character recognition glasses. I think this form of technology will only continue to grow in demand.