According to Gartner reports, the worldwide investment in wearable devices would increase to $81.5 billion this year. It is a steep 18.1-percent growth from 2020, which was no less than $69 billion. Are remote work model and the relentless pandemic waves to blame? Let’s find out what Aaron Hurst has to say in this article at Information Age.
Popularizing Wearable Devices
With more people working from home and renewed interest in health, people are investing in wearable devices, confirms Gartner. So, what gadgets are popular among the distributed workers? Here’s a glimpse:
- The global spending on ear-on devices increased to $32.7 billion in 2020, i.e., by 124 percent! It is going to scale up further to $39.2 billion this year.
- More users are joining the smartwatch device segment in 2021, with end-users spending more on upgrades. The cumulative effect would result in a $25.8 billion investment. Additionally, smartwatches would themselves gather $6 billion, up from $4.7 billion in 2020.
- Gartner’s senior research director Ranjit Atwal remarks, “The shift to e-health, especially during Covid-19, will transform users’ perceptions of automated health provision and increase the demand for smart patches.”
Due to poor sensors, wearable devices had not appealed to users, especially medical experts and technicians. Bulky wearable devices like hearing aids were also a turn-off for end-users. Nonetheless, Gartner assures companies are fine-tuning the sensory accuracy of their products. While Oura Ring, Spire Health Tag, and Proteus Discover are already in the market, more products will be miniaturized further and be discreet by 2024.
Miniaturization will expand use cases to include ‘smart garments, printed wearables, ingestibles and smart patches’. It will enable end-users that want medical privacy to embrace miniature wearable devices with improved sensors.
To view the original article in full, visit the following link: https://www.information-age.com/global-spending-wearable-devices-see-18-1-growth-2021-gartner-123493335/