Swamini Kulkarni
Let’s travel back in time and ask a person living in the 90s what if his wristwatch could tell him his heart rate and the possibility of any serious heart condition? He would dismiss the idea entirely and no one can blame such reaction.
Over the last decade, a simple watch that used to point at 1 to 12 digits has transformed itself and now informs about the weather, tracks workable, and reads text messages. In fact, it’s not just wristwatches that have upgraded by today’s advanced technology.
There are smart shoes that could charge your smartphone, a personal assistant embedded into contact lenses, and even stylish earrings that could play songs as per the user’s mood. There is no limit to innovation and we can experience this in the wearable technology market.
Rapid technological advancements, entry of major market players in the wearable technology industry, and increased health awareness have boosted the growth of the global wearable technology market. According to Allied Market Research, the global wearable technology market is projected to reach $57.65 billion by 2022 at a CAGR of 16.2% from 2016 to 2022.
From taking commands to take selfies to track burned calories, wearable technology has rapidly evolved over the last few years. The major market players are trying their best to launch novel products and put together various mobile applications to dominate consumer IoT. Thus, entry-level organizations and app developers must be aware of the emerging trends in the wearable technology market.
Recent trends in the wearable technology market
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Wearable IoT in healthcare
The wearable technology has turned out to be a boon for healthcare professionals. Now, doctors can easily track their patient’s vitals and foresee their health, making diagnosis more accurate than ever. Moreover, it saves both time and resources in clinics and hospitals.
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For instance, an FDA-approved device, Zephyr Anywhere’s BioPatch, can be attached to the patient’s chest to monitor their health conditions in real-time and the data can be continuously sent to their doctors. Additionally, the device could warn doctors in case of any intensive care.
These devices offer just a glance at the bright future of wearable technology in healthcare. Scientists are developing wearable tech that could detect early stages of tumor problems within gastroenterology. Thus, there would be more innovative wearable solutions in the healthcare sectors in the next few years.
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Wearable tech to improve women’s safety
While the #MeToo movement is gaining traction, market players across the globe have taken upon their hand to improve women’s safety. Wearable devices have the potential to help reporting crimes, share real-time location with the loved ones, and even fighting off attackers. Moreover, this trend has gained more popularity in recent years as people have taken various initiatives to create a better society for women to live in.
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Smarter smartwatches
When we think about wearable technology, we imagine smartwatches. With the recent developments in artificial intelligence (AI) and internet of things (IoT), new and more intelligent smartwatches are expected to enter the market.
Smartwatches that could control everything including lights of the room or the front door are expected to hit the market in the coming years. Today, smartwatches are used to improve the mobile experience.
However, in the upcoming years, smartwatches could entirely replace the need for mobile phones and no longer rely on them to monitor the daily activities. While the smart home technology has spread like a wildfire, the wearable technology also demands a powerful app that would help the user to control all the devices simultaneously.
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Artificial intelligence in wearable technology
There isn’t a sector where AI has not made its way and wearable technology is not far away from AI and machine learning. With the integration of AI, wearable technology has the potential to revolutionize our lives entirely.
If you closely monitor the recent advancements in cloud computing, it’s clear that it is just a matter of time for wearable technology to get involved in AI to help consumer effectively handle multiple tasks remotely using IoT. Thus, major companies are investing a huge amount of money in developing smart wearables using IoT and AI.
