Wearable applications development is forecast to become a multi-billion dollar industry by 2025.
In this past decade, there has been a meteoric rise from the days of mere hype and its shortcomings in dependability to clear cutting edge devices. As a result, the world has moved to a more advanced technological utopia.
This emerging sector is already influencing the world of health, sports, home improvement, safety occupation, shopping, marketing, banking, and many more industries.
A lot is to be expected in the coming years.
1. Health and Human Science
Arguably, wearable development solutions have seen a considerable percentage of the market share go to the health sector as it stands.
This technology has aided in improving different cognitive skills such as vision, hearing senses, and touch.
Wearable body parts will have a broader application on people living with a disability, for example, stroke and cerebral palsy.
The advancement of research will see miniature neural-sensors that could read brain waves be connected to objects like remote controls, chairs, doors, beds, and vehicles. The primary purpose is to aid in the cognitive activity of such patients.
Smart devices will also be connected with nanoparticles that will be inserted into the human body. This will enable them to detect diseases such as cancer early and possibly fight abnormal cell growth.
Such devices will be able to send up to the minute information to researchers and doctors to enable them to diagnose effectively and potentially prevent the prevalence of the said disease.
Input to wearables will continue to be developed in the medical industry. High capacity sensors will enable detection of body language and social, behavioral changes in a specific target population.
Eventually, this will help improve how patients detect early stages of bodily changes concerning diseases.
Machine studying algorithms are also permitting the transformation of straight forward sensors to enter into new actionable wellbeing exercise knowledge.
This means that principally they are serving to wearable technology grasp of the context of their use.
Wearables will also permit higher private monitoring, be it for wellbeing functions or not, the studying of customers' routines.
This implies more senior scheduling and data regeneration being used to reach more individuals as per their targeted needs in terms of advertisements and recommendations of certain health products and services.
2. Sports and Fitness
Futuristically, wearables will be the ultimate step to combine digital infrastructure to our healthy analog lives.
This will is and will mostly happen in the area of sports and fitness.
According to research done by Juniper, wearable devices were valued at 19 billion dollars as of 2018. This included wristwear, headwear, neckwear, smart clothing, wearable cameras, and implants, which were mostly worn by athletes and fitness enthusiasts.
As the new decade kicks off, these smart devices will become more prominent in the field of sports. This will be more significant to performance-based athletes who will be looking to stay in tune with their fitness continually.
Shin guards, shirts, and gloves that have been fitted with sensors are some of the gear that athletes will wear to enable tracking of crucial information during training and competition.
For the purpose of sports enhancement, wearables will enable you to monitor your heart rate, running speed, and other factors that contribute to the individual overall performance.
Wearables will also be able to analyze individual player performance to make in-game adjustments. Take for example a monitored soccer game where you can record how much ball possession and distance is covered.
All this is to enable the technical bench to make necessary decisions affecting the overall performance of the individual.
Being able to understand and evaluate the performance as it unfolds could provide athletes and coaches with more tools and mechanisms to fully understand the strengths and weaknesses of every individual player.
In matters regarding fitness, it has been a bit of an upward/downward trend since 2015 when the wearable revolution was seemingly on full swing.
This is in regard to prominent sports and fitness companies betting their money on this technology. The market became saturated as consumers failed to be sold entirely to their new ideas. This has led to a downfall in sales of these gadgets.
However, as better inventions and ideas have come to fruition, the fitness wearables market has witnessed an upturn in sales.
IDC Mobile Trackers predict significant growth in wearables over the next few years as their data estimates it will account for over 9.4% of wearables by 2021.
3. Fashion Trends
With the recent arrival of smart clothing, which includes such items as stylish socks, intelligent jackets, and even smart shirts, the clothing industry has been gaining momentum in the category of future wearables technology.
According to a report done by Global Market Insight Incorporated, the smart clothing market is forecast to grow by over 50% by 2024 in terms of shipments and deliveries to new and growing markets.
The most significant application of wearable technology in the fashion industry is the clothes that can change color on-demand or based on the biological indicators of the wearer.
Going forward, this kind of textile is set to see a significant increase in popularity and sales as it uses nano-fibres and nano-coatings to provide a considerable fashion statement.
To enhance the popularity and social acceptance of wearable textile technology, designer companies will have to consider a few attributes, which include moisture management, thermal management, durability, mobility, sizing, and flexibility, to fit into different marketing segments in different areas of the markets.
4. Wearable Consumer Electronics
Wearables are devices that are intended for everyday use. Consumer electronics are essential in this 21st-century world as they have revolutionized the way we operate in areas of entertainment, communications, food handling, and office operations, among others.
Wearable app development services have been able to synchronize electronic devices at home with the daily activities of the customer.
Several types of devices like wristbands, headbands, and rings will be integral soon as they will be able to assist the consumer in arranging their lives according to their schedules and preferences.
The future looks bright for devices such as smart glasses as they have been able to be integrated with augmented reality.
When such products are developed to suit different market segments, they will reach a maturity stage in which the social acceptance will be high for the devices to sell appropriately.
5. Business and Economics
Wearable app development, especially in Asian markets, is expected to grow going towards 2030, partly because there is a burgeoning population and a growing middle-class demand.
This is good news for Wearable app developers in India as this is a subcontinent with a population of over a billion people with who the majority is the youth of 35 years and below who form a robust technology, savvy people.
Big technology companies that started as booksellers are now into wearables, which have seen them take nearly 30 percent of market share in home and fitness products, especially in markets such as China and the United States.
Read The Blog: Key Trends in Wearable Technology and Health Apps to Look for in 2020
Wearable technology will lead to business opportunities in new and emerging markets. This will see the global community grow much interconnected in terms of business ideologies and long term economic impact as the global industrial automation market is expected to grow by 16% by 2022.
6. Research, Innovation, and Production
Wearable technologies can, in the long term, provide several opportunities for companies in the context of market research.
In the future, researchers can use real-time data from consumers' devices to track and study behaviors to devise alternative and more tailor-made experiences for different customers.
Researchers can also use crowdsourcing to gather data from customers to invent products that will suit new and potential clients in both the private and industrial sectors.
Besides, researchers also collect information via GPS based wearable devices. They can use this data in shelf allocation, outdoor ads allocation, store area allocation, and shopping mall area allocation.
7. Other Sectors
Smart devices seem to have opened up a section in the market which was entirely out of existence. Wearables will change how we operate our mobile devices in the future in terms of real-time communication, biometrics and semantics, artificial intelligence, customizable notifications, cloud, and data security.
Other functionalities include seamless data transmission, computational capability, energy consumption, and advanced interactions.
Mobile applications will be fast. Apps designed for wearables would have user interfaces with highly relevant and precise futures.
In cases of applications that will have to deal with confidential user data in a standard open-source environment, having a comprehensive security protocol will be essential for users.
Wearables will also improve workplace productivity in a way that will revolutionize the future of office operations in terms of enabling employees to get access to reminders and calendar activities set as reminders on their smart devices.
It would also help in the construction sector as it would enable construction workers to use wearable technology to see inside piping or walls or other small spaces where the naked eye wouldn't spot.
As more and more customers get into terms with wearables, this will open avenues for more significant business opportunities.
Wearables will offer retailers more essential information about customer preferences and patterns of purchasing goods that are trending or necessary in their day to day lives.
Verdict
Smart devices are offering a wide range of opportunities in the business, entertainment, health, and technological advancement sector.
However, it still has a long way to go to reach its full potential or to be a potential replacement for smartphones.
With all sorts of sectors standing to gain from wearable devices, companies have a better chance to learn from this growing industry if they strategize around this kind of business model.
For them to expand and grow strategically, the technology that comes with wearables needs to be carefully and continuously innovate to meet the needs of the ever-changing market, which is edging more towards artificial intelligence, which is where the global village is heading.
In conclusion, technology, with the help of the internet, has revolutionized the way we live our lives today. They stand to dictate our future going forward as we come close and close to attaining the millennium development goals as projected at the start of the millennium.
Therefore, we ought to take the initiative to use these innovations to improve the way of life now and for future generations.
