In 2015, wearable devices led the trend of the scientific community. In 2014, global wearables shipped 35.5 million units. By 2015, this number had soared to 85 million, up 139% from 2014.
Behind this amazing number, the big names of wearable devices - Fitbit and Apple Watch - have made great contributions. Although health tracking products account for more than half of wearable devices and continue to drive the development of wearable devices, we cannot ignore that in addition to health devices, there are several major trends that are affecting the future direction of wearable devices.
Research firm TracTIca recently released a new report on the future direction of wearable technology. Aditya Kaul, head of research at TracTIca, disclosed some of this information to us.
The following small series will lead everyone to count one by one, in the next few years, wearable devices will have a possible trend.
1. One thing that must be recognized is that the development of wearable devices is just getting started. Wearable technology products shipped 85 million units worldwide in 2015, and in 2021, this number is expected to rise to 560 million. In other words, in the next five years, the annual global shipments of wearable products will increase by 37%. As the volume of shipments increases, the product profits of major manufacturers will increase. TracTIca predicts that by 2021, the profit of the wearable device market will rise from $12.3 billion in 2015 to $9.53 billion.
2. Apple Watch will continue to maintain its position as the industry leader in the next few years. Apple's smartwatch industry is the most profitable in the field of wearable devices last year. The industry estimates that the Apple Watch product will bring Apple's profits to 5.5 billion US dollars. This high profit trend will be in the next few years. It will probably continue to be maintained. TracTIca believes that Apple will become the world's largest watch manufacturer in the next year to a year and a half. Tractica's predictions are in line with current data – Apple Watch is currently more popular than Swiss watches on the market.
3. The selling point of wearable devices will focus on health care. Kaul tells us that although current sports are the main focus of wearables, in the next few years, this focus will gradually shift to health care. Kaul said: "Advanced sensor technology, hardware shrinkage, artificial intelligence algorithms and other technologies will make wearable devices a powerful defense against chronic diseases such as diabetes, heart disease, cancer, etc. Becoming a target for wearable devices. We are entirely likely to believe that with the development of technology, in the future, our smart watches will predict in advance that we may have the risk of a stroke or heart attack. Wearables can really do this, then I believe that the world will pay more attention to it than it is now."
4. Smart clothing has emerged and there will be tremendous progress and market in the future. Some companies, such as Under Armour, have released sports-related peripherals such as smart sneakers and smart sweatshirts. These products are able to track user steps, walking distance, and more. However, the current annual shipments of such devices are still less than one million. Tractica believes that in 2021, this situation will change dramatically. By then, the annual shipments of smart clothing will likely reach 24.7 million, of which most of the market share is occupied by smart sports footwear products.
5. Current wearable devices want to include as many sensors as possible in as small a space as possible. This trend will change. In the future, wearable device products will be more targeted and targeted. By then, the mobile phone will become a large central control platform, as the data processing base of all wearable technology devices. Kaul said that we will "see more wearable products for different parts of the body. Smart watch manufacturers such as Apple, Google, Samsung, etc. will become the creators of the big platform. To achieve more targeted to all parts of the human body. Sexual testing and service, sensor equipment implanted in clothing, shoes, watches and other clothing accessories will become a normal state."
6. Fitbit is currently the leader in fitness tracking wearable devices, but this leadership position may gradually decline. At present, in the field of fitness tracking wearable devices, Fitbit occupies 43% of the global market share, and China's Xiaomi has a market share of 24%. Tractica expects that in the next few years, Xiaomi will catch up with Fitbit. Nonetheless, it does not mean that Fitbit's future profits will decline, and the reduction in market share is on the one hand. At the same time, the overall expansion of the overall market will make up for the loss of share reduction. Tractica expects that the market for fitness tracking wearable devices will increase at a rate of 25% per year. By 2021, the global shipment of fitness wear devices will reach 187 million units.
7. VR technology is becoming the focus of the scientific and technological community. At the same time, holographic image helmets are also ushered in the spring of development. Kual said: "It is foreseeable that in the next few years, VR technology will occupy and dominate the game and entertainment experience; but we will also see more holographic + AR technology companies, such as Microsoft HoloLens, Meta and the hot Magic Leap. Wearables will help us better understand the health of our body; at the same time, smart holographic helmets will help us better explore the outside world, even the entire universe."
The wearable technology market is growing at an unprecedented rate, and a large wave of outstanding wearable device technology-related concept stocks dominate the capital investment market. One of the ideas from Tractica's forecast report is very clear: in the next few years, wearable technology will become the most important force in the technology market.
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