Traditional mobile devices are quickly making way for new form factors looking to take advantage of advancements in various mobile components and a growing acceptance of new ideas from consumers. This can be seen with Google’s Glass device and the more recently launched Samsung Gear “smart watch.”
Juniper Research recently released a report claiming the market for “mobile smart wearable devices” would be worth $19 billion by 2018. Transparency Market Research says the market for wearable tech was worth $750 million in 2012, and will hit $5.8 billion by 2018. IMS Research has an even more aggressive projection, predicting that “by 2016, wearable technology will represent a minimum revenue opportunity of $6 billion.”
Looking to provide some clarity on the topic, Accenture recently released a report discussing what it termed eight “myths” about the wearable device market. Thomas Stuermer, senior executive with Accenture’s Electronics & High-Tech Group, spoke with RCR Wireless News about those topics as well as provided more insight into how the consulting firm sees the market for wearable devices evolving. Stuermer explained that the market for wearable devices, while not new, is set to hit an inflection point that could result in much broader adoption of devices. Check it out here:
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