According to Gartner, the new decade is “wearable-friendly”, with a worldwide end-user willing to spend up to $52 billion in 2020: a sizeable increase compared to the past year, but how does that come to be?
First of all, not all wearables categories are going to grow in the same way: users are attracted by and will spend more on smartwatches and smart clothing with spending growing 34% and 52% during the current year.
Thanks to the competition between lower cost smartwatches (such as Xiaomi and Huawei) – which are starting to offer an alternative to the more expensive brand leaders – the average selling prices are expected to drop off with a percentage of 4,5% between 2020 and 2021.
Smartwatches, abreast of ear-worn devices, are leading the market with expected shipments reaching 86 million of units during this year. For whoever is investing in this technology, these represent great news. But where does this peak of interest come from?
The ingredients of such success include new acquired users and devices’ improvement in terms of accuracy, miniaturization and data protection.
The more wearables would be unobtrusive, the more users will enjoy them, by persuading also those reluctant. Indeed, Gartner predicts that the winning strategy is moving towards smaller and smarter sensors which could work efficiently nonetheless.
Privacy is another sensible aspect that plays an important role in building a trustworthy engagement with users in the adoption’s process of a wearable, especially in healthcare’s domain; data security is a major priority which cannot be overlooked.
So, keep an eye on these new tech protagonists: their employment in many, different contexts seems to be indispensable, and a keen cleverness in their practical application will really make the difference in our lives.
Wait and see.