wearable devices will help mobile operators drive more than $41.04 Billion in service revenue by the end of 2025, following a CAGR of approximately 36% between 2018 and 2025. While wearable technology has been utilized in vertical sectors such as the military and healthcare industries for many years, ongoing advances have triggered a major resurgence of the concept, particularly among the consumer community. Key enabling technologies including low cost sensors, wireless connectivity, active materials and energy have converged to make wearable technology mainstream.
With the continued miniaturization of enabling technologies, wearable devices have hit the mass market in a diverse variety of form factors – ranging from smartwatches and fitness trackers to smart glasses to hearables. Driven by the ability to interconnect with key modern trends of healthcare, fitness, messaging and socialization, the wearable technology ecosystem is attracting significant levels of interest. Companies as varied as smartphone OEMs, mobile operators, health insurers and retailers are circling the ecosystem alongside tiny startups, all vying for a stake.
Wearable Technology Industry Segmentation:
By Form Factor