Wearable Technology Industry Analysis

Wearable technology is rising in popularity. One factor that has contributed is the rising concern for overall health. Covid has opened a new category and potential opportunities for wearable int he healthcare industry. One concern from wearable technology users is data privacy. Therefore, one way a tech company can increase customer satisfaction is by rectifying their user privacy policy. In additional, customers are seeking multi-functional wearables that easily incorporate into their daily lives.

North America is currently dominating the market having 30% of market share. Plus, the most well known companies reside here. That includes Garmin Ltd., Alphabet, and Apple Inc.

Wearable Tech Startups

Wearable technology startups come in a variety of versions. Some include wrist-wear, eye-wear, head-wear, neck-wear, and body-wear among others. 

Wearable technology startups have some of the most active investors. About one third of the overall funding of 18.1 billion has been raised form 2018-2019. You can check out a list of 2020 startup at Tracxn.com 

Voice Activated Wearable Technology

Voice activate technology enables users to easily navigate and operate a device. For example, VAM has voice isolation technology to capture commands, even when the surrounding is busy. Voice activated technology also is beneficial to users of all ages. It makes it easier for less skilled technology users to use a device. In addition, it provides convenience because wearable users do not have to put stop what they are doing to be able tot use the device.

How much is the wearable technology industry worth?

The wearable technology market is valued at 28 billion in 2019. Global News Wire attributes wearable success to the increase in known benefits of technology, rising popularity if Internet of Things, the increase of next-gen smart interface screens, and finally the rising demand for innovative accessories.

How has wearable technology changed the fashion industry?

Many industry experts believe that wearable technology needs design improvement for the devices to be incorporated into our daily lives. In some cases, companies partner with fashion industry experts. One example is Google glasses' partnership with Diane von Furstenberg. Technology has created a new fashion possibilities, like embedding multimedia, sensor, wireless communication in the clothing. One recent display of wearable technology occurred at the 2019 Met Gala. Zendaya wore Tommy Hilfiger gown that lit up. With the predicted increase in wearable technology it is likely that technologies incorporation into fashion will become more common.