Mind Commerce sees Sports and Fitness, Healthcare, and Clothing as key markets for the early success of wearable technology. Among these three segments, Sports and Fitness is the most promising segment for wearable consumption. The segment comprises various products out of which wrist bands, wrist watches, and headgears will dominate the segment. In addition, most products in this segment will be associated with measurement and monitoring fitness and performance and will be used by both amateurs and professionals.
There has been a demand in the healthcare industry for wearable monitoring systems and portable monitoring systems for many years. New wearable devices transform cumbersome “portable” monitoring into much more comfortable, and in some cases, virtually transparent “mobile” monitoring. This is expected to significantly de-stigmatize the need for healthcare monitoring, a very important need in light of the aging population within developed countries.
Connectivity over the Internet has introduced wearables to the Internet of Things (IoT) space and created new markets for wearables encompassing an entire new range of gadgets, including smart watches, smart goggles, smart clothes, and smart fitness and healthcare accessories.
Many wearable devices are increasingly integrated into clothes (and other personal items) to make the wearable system as unobtrusive as possible. This will become increasingly important as wearables move beyond the “fashion statement” stage into a more mainstream arena within the realm of Personal IoT (PIoT).
The amalgamation of wearable technology and IoT is creating an opportunity for the fusion of these three market segments, which will ultimately manifest as multipurpose devices wherein the lines between health, fashion, and fitness are blurred from an application and personal services perspective.
Wearable Technology in Sports and Fitness, Healthcare, and Clothing: Market Outlook and Forecasts 2015 – 2020 evaluates the market for wearables in Sports and Fitness, Healthcare, and Clothing industries. This evaluation includes an assessment of technologies necessary for personal area networks including the very personal “Body Area Network” (BAN). The report assesses companies and solutions and provides forecasts for the period of 2015–2020. The report also includes analysis of wearables, IoT, and Big Data, as the latter will represent a significant opportunity as vast amounts of data is generated from wearable devices in these industries.
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The blog post is collaboratively written by members of the Mind Commerce staff.
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