On the day that Apple is finally expected to launch its iWatch smartwatch to the public new research shows that public appetite for wearable tech is likely to treble over the next two years.
The latest findings from high technology analysts Juniper Research suggests that global retail revenue from smart wearable devices, including smartwatches and glasses, will treble by 2016 before hitting $53.2billion in 2019.
The report puts the explosion of interest in such products down to the recent entry of key industry players that has this year seen Google, Microsoft, Motorola, and potentially Apple, join early adopters Samsung among others in releasing smart wearable devices.
Although the report – Smart Wearable Devices: Fitness, Glasses, Watches, Multimedia Clothing, Jewellery, Healthcare & Enterprise 2014-2019 – argues that the public are still unsure of buying into new devices that simply replicate the functionality of smartphones.
Many of the industry’s main players have been keen to develop smart device technology platforms upon which other manufacturers can base their new models much in the same way that the likes of ETA, Sellita and Ronda produce movements for manufacturers to use within their watch designs.
The report also predicts that the new technology for wearables will first be developed for enterprise and healthcare sectors before filtering down to consumer devices and that smartwatches will overtake fitness wearables as the most purchased wearable tech by 2017.
