Report: 2015 may be 'breakthrough' year for mHealth wearables
This may be the "breakthrough" year for revenue and consumer adoption of fitness and mHealth wearables, and much of it may be due to the arrival of the Apple Watch, according to a new Visiongain report.
The 186-page report's authors say they expect the global wearables technology market to hit $16.1 billion by the end of 2015 as a long expected mass market acceptance is achieved, according to an announcement. While the Watch is a huge catalyst, it also may be a disruptive force in the smartwatch market.
"As the Apple Watch will deliver many of the applications already delivered by fitness and activity trackers, companies competing with smart bracelets and other trackers will suffer market loss," states the report. That could result in "great disruption" by 2018.
The Visiongain market insight comes on the heels of non-tech players, Nike and Under Armour, expanding wearable product initiatives and studies that reveal wearable adoption is tied to workplace wellness programs. In addition, a Parks Associates research report predicts global revenue of connected fitness trackers will jump from last year's $2 billion-plus to $5.4 billion by 2019.
The Visiongain report notes that augmented reality glasses and e-textiles are not expected to deliver big market numbers in the near future, but revenue and shipment growth for the submarkets should be arriving after 2019 due to strategic adjustments by vendors in regards to technology, applications and cost.
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