Wearable technology shipments are set to grow by over 50 per cent per year until 2017 with the market topping 64 million by that date.
Research released by Berg Research expects the worldwide market for smartglasses, smartwatches, and wearable fitness trackers, which currently stands at 8.3 million, to grow at a compound annual growth rate of 50.6 per cent.
“A perfect storm of innovation within low power wireless connectivity, sensor technology, big data, cloud services, voice user interfaces and mobile computing power is coming together and paves the way for connected wearable technology,” said Johan Svanberg, senior analyst at Berg Insight.
Wearable technology has been appearing more and more over the last few years with Google, Sony, and Samsung all releasing devices in one guise or another and Apple thought to be working on a wearable technology to be released in the coming months. Svanberg, though, thinks that devices must do more to be successful in the future and need to perform something other than a single function.
“Today’s devices need to evolve into something more than single purpose fitness trackers or external smartphone notification centres in order to be truly successful,” Svanberg added.
Berg thinks that instead of being an accessory for the smartphone, like the Galaxy Gear and Sony Smartwatch, wearable technology will become “proper standlone computing devices” with future advances offering a plethora of opportunities.
The latest sentiments echo those made by Internet trend expert Mary Meeker at a conference earlier this year when she stated that wearable technology is the future. She added that people already check smartphones an average of 150 times a day and a wearable device with sensors would allow it to be checked even more often.
Samsung debuted its Galaxy Gear smartwatch back in September at IFA 2013 and Sony released a second version of its smartwatch earlier in the year with the Google Glass device one of the most talked about devices in the technology space.