Rapid adoption of wearable technology
The arrival and adoption of internet and mobile revolutionized the whole world. It seems now wearable technology coupled with smart connected devices is poised to change how enterprises interact with people product and processes. Wearable devices are rapidly being adopted across all sectors, with the healthcare industry, sports, manufacturing, gaming and entertainment being the early adopters. ABI Research expects the market for wearables in sports and health industry alone will be approximately 170 million devices by 2017, growing at an annual growth rate of 41%.
Factors driving this revolution
Innovations in knowledge driven technology market, lifestyle changes with a desire to be connected all the time has led to the creation of the platform for wearables and is expected to play an integral role in personal and professional lives. Also, the massive proliferation of smartphones has led to the surge in wearable devices and application. According to Business Insider, there are more than 250 million installed mobile operating systems that can support wearable technology, making smartphones as enablers and a hub for most of the wearable apps.
Expansion of wearable applications portfolio
Salesforce.com (CRM) sensed this big opportunity launched “Salesforce Wear platform” to attract developers and aims to become a platform of choice for enterprise applications on wearable devices. It supports Android Wear (GOOGL), ARM, Fitbit, Pebble, Philips and Samsung. In September 2014, it included Epson, Jawbone, Meta, Oculus and Vuzix in its wearable platform. At the 2015 annual Dreamforce conference, more wearables announcements are expected to be heard.
Wearable technology expected to create a plethora of opportunities
Wearable technology market is expected to grow astoundingly in future, leading to growth in digital advertising as consumers would require information that could be health, business or trade related. Social networks like Linkedin (LNKD), Twitter (TWTR) and Facebook (FB) make money by collecting personal and professional data. Significant opportunities are expected to arise for software application developers across the health, fitness, sports and communications segments.