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A new report from Visiongain projects the value of the global wearables technology market to touch $16.1 billion in 2015, though the market has not gained traction in the near past in terms of technological evolution, sales and end-user adoption.

The entry of the Apple Watch into the market could turn out to be a watershed for the global wearables technology market and ensure mass market adoption in 2015, the researchers argue. The development could transform the overall size of the wearable technology market while disrupting the smartwatch category.

The Apple Watch will come with features offered by fitness and activity trackers thus hampering the sales and profitability of companies providing smart bracelets and other trackers. Along with market share losses, these companies could be on the receiving end of further disruption by 2018.

The worldwide wearable cameras market is also poised for transformation, driven by accelerated penetration in highly developed economies and changing consumer demand. Major brands will have to alter strategy that will lead to improvement in the revenue models.

The market for AR glasses and e-Textiles is expected to see growth in terms of shipments and revenue after 2018, argues Visiongain, when a strategic shift occurs with regard to technologies, applications and costs.

The wearables industry will present varying growth alternatives across submarkets and regional markets. However, challenges are also anticipated. For instance, wearable cameras may witness high saturation levels, the smartwatch market may not see a lot of value addition and mHealth may face regulatory controls.

Visiongain’s report examines 17 major wearable players and provides company-specific analysis with regard to outlook, capability, M&A activity, R&D activity, strategy, positioning, product range, services and focus.

 

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