Wearable technology is expected to become a $6 billion industry by 2016, a minimum revenue projection that could be even larger. That’s according to the latest findings by market research firm IMS Research. Wearable technology currently centers on healthcare, medical, fitness and wellness, where products such as glucose monitors and heart-rate monitors are used to transmit vital information about the user or patient.
In its “World Market for Wearable Technology – A Quantitative Market Assessment – 2012” report, IMS also estimates that device sales will grow to between 39 million and 171 million by 2016, according to IMS Research senior analyst Theo Ahadome in an interview with FierceMobileHealthcare. The report notes new product areas such as smart watches, smart glasses, sleep sensors, industrial and military heads-up displays, hand-worn terminals, and automated drug delivery devices will have strong impact. “Increasing demand for actionable, real-time data in a range of applications is driving strong demand for wearable technology,” according to the report.
IMS Research Report Wearable Technology Market to Exceed $6 Billion by 2016
[via Fierce Mobile: Wearable technology market to hit $6B by 2016]