Wearable Technology: With the incredible advances in software programme and cellular connectivity technology, wearable and hearable technology is now offering life-enhancing and life-changing opportunities for everyone, regardless of age and ability!
Discussions being held by all age groups from the under 10’s to the over 60’s now frequently include a measurement of the number of steps, the number of kilometres and floor levels they have completed in a day as well as a chat about the latest download or app launch for the latest film releases and travel updates- all being done with a quick glimpse at their watches or a simple discreet listen for a short while to their earphones!
Numbers are incredible in terms of recent and projected growth figures in this truly exciting and fast moving market area:
From various research sources including Forbes, Juniper Research, Smart Insights, Allied Market Research, IDC and Tractica, the numbers make for some impressive reading and bring exciting business opportunities as a result;
In 2017 it was recorded that just over 453million connected wearable devices were sold globally.
By 2021 these figures are expected to reach 929 million!!
The finances behind these figures are just as impressive with growth believed to be heading to a sales shipping turnover of $34 billion in 2020 and double that figure by 2023!!
Advertising spend is currently at $68.7 million and is expected to at least double in the next 3 years!!
Some of the Professions and Industry sectors that are making these wearable technology advances so life- enhancing and life- changing include; hospitals, doctors, healthcare, wellbeing, airline and travel companies as well as sports and leisure based activity organisations.
Here at impulse
We love working with new technology and new ideas when we are looking at our clients expectations in- store and when you have great clients already working in this new market sector such as Nike, EXOGLO, D3O, Ray- Ban, SIXPAD, Gore-Tex, Raymarine, IFrogz and Invisible Shield from Zagg and many others, the excitement just keeps growing just like the wearable technology market!