09 Aug 2012

IMS Research predicts strong uptake of wearable technology

Increasing demand for actionable, real-time data in a range of applications is driving strong demand for wearable technology, says IMS Research.

According to the UK-based industry analysis business, some 14 million wearable devices were shipped in 2011. IMS Research also predicts that come 2016, wearable technology will represent a minimum revenue opportunity of $6 billion.

Today's wearable devices are mainly used in healthcare and medical, and fitness and wellness applications, to transmit data such as vital signs, and track user performance. Glucose monitors are a key example, with activity monitors as well as fitness and heart-rate monitors also being widely available.

But by 2016, the penetration of wearable technology in a number of current product categories is projected to rapidly increase as a wide range of new wearable devices are developed, predicts IMS Research

Key applications will include Smart Watches, Smart Glasses, Sleep Sensors, industrial and military heads-up displays and hand-worn terminals.

"A $6 billion market in 2016 is our most conservative forecast which assumes that the adoption of wearable technology will be limited by factors including lack of suitable technology, poor user compliance and lack of an overall enhanced experience from devices that are wearable as compared to non-wearable products," says Theo Ahadome, senior analyst at IMS Research.

"In our mid-range and upside projections, product introductions such as Google’s Smart Glasses and the rumoured Apple Smart Watch come to fruition and are successful. In addition, an increasingly self-aware consumer seeks more and more data on their health and fitness, leading to even more rapid expansion in the market for wearable technology," he adds.

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