High price points and strong market demand will push retail revenue from smart wearable devices, such as watches and glasses, from US$1.4bn this year up to US$19bn by 2018, hi-tech analysts at Juniper Research have forecast.
Juniper’s latest report, Smart Wearable Devices: Fitness, Healthcare, Entertainment & Enterprise: 2013-2018, contends that the attractiveness of wearable technology to consumers has led to a host of players competing against each other, and competition is expected to intensify.
“It is worth observing that this change in adoption levels can also be attributable to heightened consumer awareness of wearable technology and a better visibility of product adoption, especially in the smart watch segment,” added report author Nitin Bhas.
The report also expects changes to take place in the smart wearable device market over time, as well. These changes would likely be down to developments in the app model, and the increasing use of embedded cellular connectivity within devices.
Subscription revenues may also be possible for certain sectors within the market.
Smart watch image via Shutterstock