What Is Wearable Technology?
Wearable technology is a general term used to describe electronic devices (popularly known as "wearables") such as smartwatches, rings, glasses, accessories, sensors embedded in shoes and clothing, and even tattooed on the skin or implanted in the user's body.
Often described as mini computers, these hand-free functional gadgets have batteries, microprocessors, memory, and the ability to connect to the internet.
What is WEARABLE TECHNOLOGY?
Wearable technology is a general term used to describe electronic devices (popularly known as "wearables") such as smartwatches, rings, glasses, accessories, sensors embedded in shoes and clothing, and even tattooed on the skin or implanted in the user's body.
While wearable technology is almost 30 years old, the recent consumer adoption of smart devices has popularized wearable technology, the Internet of things (IoT), and IIoT (Industrial Internet of Things) as technologies that change how we interact with the surrounding environment.
In the consumer space, sales of smart wristbands (aka activity trackers by companies like Jawbone and Fitbit started accelerating in 2013, reaching 193 million units sold in 2020, according to CCS Insight's report.
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Source: STATISTA[/caption]
The impressive 22% growth in 2020 - in unit sales for smartwatches and fitness trackers - has helped the market reach almost $24 billion.
The accelerated growth is further helped by the high penetration of smartphones in most world markets, the low cost of MEMS sensors, energy-efficient connectivity technologies (Bluetooth 4.0), and a flourishing app ecosystem.
