Wearable Tech World Feature Article
July 24, 2013

New Study Puts Wearable Tech Market at $4.6B in Value This Year

It’s no secret that we love our technology these days, and we’re sort of attached to it. However, in the near future, it’s probable that we will literally become more attached. The global wearable technology industry is taking the world by storm, and the sky is the limit when it comes to potential, as seen at the Wearable Tech Expo in New York City this week.

While Google, with its prototype Google Glass, seems ready to redefine the market, its main rival in the smartphone space, Apple, is likely to launch something amazing of its own in the near future. Analysts think it may be a “smartwatch,” or a Dick Tracy-style watch that allows users to communicate, e-mail, text, Web surf, navigate and more.

So how big is the market likely to get? While estimates vary, a new report compiled by Visiongain has determined that the value of the global wearable technology market in 2013 will reach $4.6 billion.

Visiongain says it believes that the wearable technology market will follow the same paradigm as that of smartphones and tablets and in the next five years these new devices will see explosive growth and high adoption rates promising wide revenue streams for all ecosystem members.

“With virtually limitless applications to a number of verticals the wearable technology market represents a huge value proposition to all ecosystem members, from manufacturers to app developers and service providers,” according to the report’s authors.

Limitless is right. In addition to healthcare and fitness – where the industry is largely concentrated right now – wearable technology is expected to encroach into many other industries, as well, with wearable enterprise applications right around the corner, and even wearable technology for pets.

The full report is broken down into revenue predictions for multiple categories of wearable technology, including smartwatch shipments, mHealth devices, tech clothing, AR glasses, fitness and sports and wearable cameras, as well as a breakdown by sales potential for global regions.




Edited by Alisen Downey




Comments powered by Disqus


Featured Video

Dedicated to Wearable Tech: Mobile, Sports, Fitness, Audio, Fashion, Design


Featured Podcasts

The Business of Wearable Computing: An Interview with Brand Finance An interview with Edgar Baum, Managing Director North America with Brand Finance, the world’s leading brand valuation and strategy consultancy. Mr. Baum specializes in marketing ROI and financially quantified brand strategy.
Getting Attention for Your Wearables Joe Daniels of Loeb & Loeb discusses how wearable tech entrepreneurs can gain exposure for their ideas and what to do once they've won attention from potential investors.
Wearable Success Rides on Actionable Intelligence Lux Capital's Adam Goulburn focuses on the traits sought by investors as they consider wearable startups, such as how well their software turns collected data into actionable intelligence.
Wearable Tech Startup Strategy CRV's George Zachary talks wearable startups and how they can secure the attention of the right investors as the seek to become the next great thing in wearables.
How to Win the Wearable Tech Funding Game Donatella Giacometti speaks with Canary Ventures' Alex Goldberg about what the investment community looks for in startups, such as the many new wearable tech companies that are emerging.

Wearable Tech World Media Sponsors