The wearables market set to quadruple in the next 5-6 years
A new WinterGreen Research report predicts that the global market for wearables will reach $14.9 billion by 2021. This is more than four times up on its estimated $3.5 billion value in 2014. The comprehensive study has 565 pages and 228 tables and figures.
Wearable technology is evolving: better data gathering, better reliability, better navigation, better ability, better analytics to turn data into information are increasingly available. This is paralleled by the gradual decline in the price of technology.
Fitness wearables market growth will be driven both by professional athletes and teams wishing to gain performance advantage and recreational consumers. Professional athletes however will be early adapters, as they have the budget to spend on development of products and the most to gain from enhancing their performance.
In the wider context, the study predicts that growth in the wearables market will be accompanied by continued growth in smart phone adaptation. By 2021, the number of smart phones is expected to reach 9.5 billion.
The next generation of smart wearables will leverage better technology and support high quality data gathering. According to the report, in sports and fitness technology, data gathering will not be enough. There will be more emphasis in the coming years on interpreting the data, in order to improve athletic performance or manage overall personal fitness.
Key topics covered in this smart sports and fitness wearables market report include Smart fitness wearables, Smart health wearables, Smart sport wearables, Fitness trackers, Sport, IFA, Smart Wearables, Sport trackers, Fitness, Digital health wearables, Fitness Apps, Sports Apps, Coaching Apps, Fitness Analytics, Exercise Apps, Sports Analytics, Coaching Analytics, Personal Technology, Health, Fitness, And Sport, Exercise Trackers, Exercise Analytics, Baseball Wearable Technology, Wearables Bands, Exercise Bands, Basketball Wearables, Swim Wearables, Tennis Wearables, Hockey Wearables, Soccer Wearables, Bicycling Wearables, Golf Wearables and Telemedicine Apps.
The sports and fitness portion of the market for wearables is just part of a larger market. With technology maturity, price points will decline rapidly and affordability will drive market growth.
