As per the estimates by the market measurement company Gartner, global wearable technology market is expected to touch US $ 28.7 billion this year; the number of units shipped will increase by 18.4 per cent to 275 million.
The report states factors that will drive growth in this segment including emergence of “wearables 2.0”, which will shift the category from stand-alone devices to lifestyle-enhancing systems tying together multiple connected devices and cloud services. Also, the clothing and sportswear categories will notice a rise in wearables offerings, with mass-market brands such as Google, Levi’s and Nike launching new wearable products.
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Various other clothing labels are investing in developing conductive textiles which can interpret motions of the wearer. One such example is the collaboration between Google and Levi’s for project Jacquard. The report also mentions that brands like Adidas, Under Armour and ASICS have invested around US $ 1 billion in past three years to develop fitness health apps, connected with the footwear or athleticwear of the wearer.
The market will grow further as the GenX is always keen for new technologies coming in. And as the industry is inclining towards automation, more new innovations are on the way for the wearers.
