A Forecast of the Adoption of Wearable Technology

Abstract

This research aims to quantify the current market size for wearable technology, and determine why this market has struggled over the past decade. These are products which are worn on the body and enhanced using electronics. Forecasts have been made as to how this wearable technology is likely to develop in terms of market size and product design or function. It is predicted that in five years the wearable technology market will be several times larger than it is currently, and entertainment devices will overtake fitness to become the largest product category. Medical devices will be used to reduce healthcare costs by monitoring patients within their own home and wearable technology will allow businesses to improve customer relations and productivity.