The wearable devices industry is now one of the fastest growing segments of the technology sector. According to a research report by CCS Insight (www.cssinsight.com), an industry analyst firm, 411 million smart wearable devices, worth $34 billion, will be sold in 2020, this comparing to 84 million units in 2015.
The wearables market is projected to be worth over US$25 billion by 2019. The industry includes smartwatches, fitness trackers, medical wearables, augmented and virtual reality headsets as well as wearable cameras.
Fitness trackers and smartwatches remain the most popular products in the wearable devices industry. Innovations in technology however may push other products into the mainstream, according to CCS Insight. The wearable medical device market, for example, is getting attention.
Apple might soon enter into the healthcare sector later this year with CEO Tim Cook seeking to further enhance the Apple Watch. In Taiwan’s Economic Daily News, it was reported that the company will celebrate its tenth year anniversary of the iPhone with a wearable device that will precisely collect user’s personal daily life with heart rate, pulse, blood sugar changes and other information. The medical devices market value will reach $11.2 billion by 2020, according to CCS Insight.
