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Connected Wearables – 2nd Edition

Connected Wearables – 2nd Edition

Management Report
Published: December 2015
Pages: 160
Research from: Berg Insight
Sector: Handsets & Devices

From: GBP 769.00
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Connected wearables are now becoming increasingly popular on many markets globally. Berg Insight estimates that worldwide shipments of wirelessly enabled wearable devices will grow from 72.5 million in 2015 at a compound annual growth rate (CAGR) of 25.8 percent to 228.3 million in 2020. The cellular attach rate at the end of the forecast period is forecasted to be 7.8 percent. Get up to date with the latest trends from all main product categories and regions with this unique 160 page report.

Wearables is the second consecutive report from Berg Insight analysing the latest developments on the connected wearables market worldwide.
This strategic research report from Berg Insight provides you with 160 pages of unique business intelligence including 5-year industry forecasts and expert commentary on which to base your business decisions.
This report will allow you to:
Understand the key enablers for growth in the connected wearables market.
Identify key players in the connected wearables ecosystem.
Benefit from detailed forecasts for eight different device categories lasting until 2020.
Learn about the markets for activity trackers, smartwatches, smart glasses and medical devices.  Evaluate the business opportunities in new innovative device categories.
Predict future market and technology developments.

M2M Research Series
Which are the main device categories within connected wearables?
What are the main drivers on this market?  What are the general technology trends for connected wearables?
When will cellular connectivity be a common option in connected wearables?
Which connected wearables offer the best potential for embedded cellular connectivity?
Which are the leading wearables vendors?  How will the markets for smart watches and fitness trackers converge?
What new innovative wearables could become successes?

Annual shipments of connected wearables will reach 228 million in 2020
The wearable form factor enables hands-free operation and allows the user to multitask and get immediate access to information. It also enables continuous recording of useful data such as body metrics, location and environmental data. Berg Insight’s definition of a connected wearable is a device meant to be worn by the user and which incorporates data logging and some sort of wireless connectivity.  Connected wearables have for long been widely used in professional markets. The high smartphone adoption, cloud services, miniaturised hardware, sensor technology and low power wireless connectivity have enabled connected wearables to emerge as a new promising consumer segment as well. The number of applications for wearable technology is vast and includes imaging, augmented reality, media playback, navigation, data displaying, authentication, gesture control, monitoring and communication. A plethora of device categories such as smartwatches, fitness & activity trackers, smart glasses, people monitoring devices, medical devices and wearable computers target various market segments including infotainment & lifestyle, fitness & wellness, people monitoring & safety, medical & healthcare, enterprise & industrial and government & military.
The market for connected wearables has entered a strong growth phase that will last for many years to come. Berg Insight estimates that shipments of connected wearables reached 72.5 million units in 2015. The market is expected to grow at a CAGR of 25.8 percent to reach shipments of 228.3 million by 2020. Fitness & activity trackers is the largest product category and accounts for a majority of today’s shipments. Decreasing prices and new form factors will enable fitness & activity trackers to reach shipments of 71.0 million units in 2020.  The smartwatch category has also started to reach significant volumes and is predicted to become the largest device category reaching shipments of 110.0 million devices in 2020, up from 19.5 million units in 2015. Limited availability, high prices and privacy concerns have so far resulted in that sales of smart glasses have been modest.  Promising use cases in professional markets as well as in niche consumer segments will enable smart glasses to reach shipments of 11.0 million devices in 2020, up from only 0.1 million units in 2015.  Connected wearables such as cardiac rhythm management devices, ECG monitors and mobile Personal Emergency Response Systems (mPERS) are already common in the medical & healthcare and people monitoring & safety segments. Annual shipments of medical devices and people monitoring & safety devices are forecasted to grow to 11.0 million and 5.3 million respectively by the end of the forecast period.  New product innovation is also anticipated in the next coming years that will result in successful products not known today and annual shipments of these are predicted to grow at a CAGR of 188.5 percent from 0.1 million units in 2015 to reach 20.0 million units in 2020.  Bluetooth will remain the primary connectivity option in consumer centric wearables throughout the forecast period and smartphones will act as the principal hub for remote connectivity. The number of active cellular network connections from wearables is projected to grow from 1.0 million in 2015 to reach 29.0 million connections in 2020. The growth is driven by increasing adoption of cellular in the smartwatch category and the high adoption in the people monitoring & safety segment in which cellular connectivity already is the main technology for many types of devices. The most common connectivity option for wearable medical devices will be low power NFC technologies and Bluetooth which enable remote connectivity via medical monitoring system hubs. BYOD will have an increasing impact on the connected medical device category, especially for patient-driven models of connected care.
Numerous merger & acquisition activities have taken place among
wearables players in the past years. In August 2012, Google acquired
the smartwatch vendor WIMM Labs. In April 2013, Jawbone acquired
the wireless health tracking device vendor BodyMedia. Under
Armour has in the past years acquired three mobile fitness services
MapMyFitness, MyFitnessPal and Endomondo. Intel acquired the wearable device vendor Basis Science in March 2014. In 2015, Intel has also acquired the smart glasses vendor Recon Instruments and invested an additional US$ 25 million in the smart glasses vendor Vuzix. In May 2015, Fitbit acquired FitStar, a developer of health and fitness training apps. In June 2015, the textile-integrated wearable sensor specialist Clothing Plus was acquired by Jabil Circuit. Later in August 2015, the popular fitness app and wearable device vendor Runtastic was acquired by Adidas for US$ 240 million. Fossil Group furthermore acquired the connected wearable device vendor Misfit in November 2015.

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