Key product areas in wearable technology

It’s tough to resist the “gee whiz” factor inspired by wearable technologies and the potential to strike it big with the newest trendy gizmo. IDTechEx, an independent research and event firm based in Cambridge, U.K., recently released a report, “Wearable Technology 2016-2026,” that identifies wearable technology as a $30 billion market in 2016, with more than $11 billion driven by smart watches and fitness trackers. Despite bright forecasts for growth ($150 billion by 2026), IDTechEx suggests that companies who jumped on the wearable technology bandwagon are now looking more minutely at varied sub-sectors of the market. The report focuses on each of these key product areas: fitness trackers, smart watches, smart clothing, smart eyewear (including augmented and virtual reality), smart skin patches and headphones. IDTechEx also outlines a case for stand-alone wearable communication devices as the future evolution of the smart phone. Smart watches and fitness trackers rely on a smart phone hub, but manufacturers now look to a future where the hub itself may become wearable.