Juniper Research has released a new analysis in which it forecasts that shipments of smart garments and hearables will increase by 550 percent over the course of the next four years.
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The sensors that are incorporated into the clothing that you wear on a daily basis are in an ideal position to grasp the intricate workings of your body. The options are practically limitless, and they range from connected hats and shirts to shoes and headphones. The best part is that these are just sharper versions of the clothes you would have worn anyhow.
According to the findings of a recently published research analysis, the number of exports of products of this kind is predicted to climb from an anticipated 4.5 million in 2018 to approximately 30 million in 2022, representing an increase of more than five times. Traditional activity tracker shipments will only increase by 20% during the same time period.It is important to emphasize that this is coming from a much higher foundation.
While the growth of fitness trackers that measure activity around the clock will decline, the growth of session-specific wearables, such as those that monitor gym or training sessions, will be healthy. This will be reflected in the market shares of prominent players, and producers of lifestyle tracking devices like Fitbit and Huami will see their part of the pie decrease as a result. In 2022, these players will together account for only 28 percent of total shipments of fitness wearables, which is a significant drop from their current market share of 40 percent.
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The survey also discovered that data is the most important battlefield to fight on now. In future years, the focus will shift from consumer hardware to institutional partnerships and software integration in order to accommodate the integration of information from fitness trackers with medical databases.