Global Wearable Technology Spending Could Surpass $50 Billion by 2020

PHOENIX - Sept. 10, 2014 - PRLog -- Apple’s unveiling of the Apple Watch heralds a new growth spurt in the wearable technology industry. By 2020, over 50 billion wearable devices are forcasted to ship worldwide, and global spending on wearable technology could surpass $19 billion by 2018.

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http://redmountaininsights.com/Wearable-Technology-Market-Trends-through-2018-I3642?ref=prl

Several factors are converging to facilitate wearable technology integration including:
- Expanded wireless capacity due to pervasive wireless (WiFi, WiMAX, and LTE);
- Cellular market saturation 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.

This report discusses the market opportunities in all sectors, and reveals what we believe will be THE most profitable piece of the wearables market in the next 3-5 years.

It also explores what is holding wearable technology indutry growth back, and the current and potential pitfalls to be overcome.

See Table of Contents: http://redmountaininsights.com/Wearable-Technology-Market-Trends-through-2018-I3642?ref=prl

This report discuses the market potential for various sectors of wearables. We see developments in key technologies such as Augmented Reality, Body Area Networks, Ambient Awareness, and Peer-to-Peer Communications as drivers for evolution in consumer perception of value and willingness to engage in new forms of communications, content, applications, and commerce.

WHO SHOULD READ THIS REPORT:
Even if your business doesn't manufacture or sell wearable devices, it will interface with wearables in some way:

- Healthcare providers will monitor patients from across significant distances with wearable devices;

- First responders will wear cameras to record their actions, and sensors to track their vital signs;

- Sales people will receive pertinent information through their glasses, which will recognize the faces of potential clients;

- Teachers will control presentations with wearable motion control devices;

- And employees will bring everything from personal fitness trackers to smart clothing into the workplace (and onto your network) just as they do with smartphones today.

KEY FINDINGS:
- By 2020, well over 50 billion wearable devices will ship worldwide, led by the sports and fitness sectors. Advertisers will likely use exercise data and eating to serve up relevant ads and offers;

- New technologies will be developed to data-mine information collected from incompatible devices;

-Software and technologies will emerge to address the challenge of data security and privacy;

- Increased attention toward personal health combined with a movement on the part of providers to contain costs, will trigger products and services that promote preventive measures;

- Wearable technologies will become more prevalent in the fashion industry, allowing users to customize clothing, makeup, and accessories;

- In manufacturing and enterprise markets, wearable computers for hands-free operation will continue their popularity in field service and assembly lines and warehouses.

- Forecasts for global smartwatch shipments will grow from 1 million units in 2013 to 7 million in 2014. Credit Suisse expects the industry to grow from between $3 billion and $5 billion today to $50 billion within five years.

This report is a must-have for professionals interested in creating profit from the wearable computing market.

Read Full Details: http://redmountaininsights.com/Wearable-Technology-Market-Trends-through-2018-I3642?ref=prl

About Red Mountain Insights LLC:

Red Mountain Insights LLC is an industry think tank and leading source for B2B market information and research products. Details on all reports can be found at http://RedMountainInsights.com/shop/default.asp?ref=prl

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