New ResearchAndMarkets.com’s report evaluates the current state of the wearable technology ecosystem, including devices, applications, and industry segments. The report addresses wearables in consumer and business with consideration for enterprise, industrial, and government use cases, key challenges, market players, and solutions. wearable tech

The report also provides an outlook for the future of wearable technology with forecasts for the period 2022 to 2027.

Wearable Tech Select Report Findings:

• North America and South America are the largest and fastest-growing markets respectively
• Wearable technology data as a managed service will reach $462 million USD globally by 2027
• Leading industries for wearable technology will be healthcare, sports and fitness, and manufacturing
• While the fastest growing area within the enterprise, hospitality services will remain a small fraction of the market
• Driven by manufacturing, the industrial sector in Europe is anticipated to represent over $2.38 billion by 2027

Wearable technology presents the potential for massive transformation in many industries. The more obvious ones include consumer electronics and communications. Early adopter industries include clothing, healthcare, sports, and fitness. However, we see many industries adopting wearable technologies as computing and wireless communications integrate wearables into virtually every aspect of products and services.

At the consumer level, increased perceptions of value and willingness to engage in wearable tech apps and services is building as new forms of communications, content, applications, and commerce become available.

As WiFi6 is increasingly deployed in various public venues such as train stations and airports, companies will offer virtual reality as a means of infotainment and advertising, which will drive wearable technology sales and rentals. In addition, new consumer users of immersive technology will drive the adoption and usage of wearable technology due to improved portability and mobility associated with 5G.

Several factors are converging to facilitate wearable technology integration including expanded wireless capacity due to pervasive wireless (WiFi6, LTE, and 5G) and the need for wireless companies to establish new revenue streams, continuously decreasing cost of data, and the significant backing from huge companies including Google, Apple, and others. Significant wearable tech developments are anticipated in key technologies such as augmented reality, virtual reality, and next-generation telepresence.

Regarding wearable technology evolution, body area networks are becoming a larger factor along with IoT integration involving sensors and haptic interfaces to provide a feedback loop that provides ambient awareness, increased performance, and user satisfaction for many immersive technology applications.

Companies Mentioned

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