Continued growth seen for wearable systems market
The global market for wearable computing and communications systems is expected to reach more than $270 million by 2007, according to a recent study by VDC Corp. Sales are expected to grow more than 25% annually, based largely on the sale of customized solutions to the core market segments of warehousing and transportation.
Wearable computing and communications global market is expected to reach more than $270 million by 2007, according to recent research by VDC Corp.
Worldwide shipments and forecasts for general-purpose computing/communications wearable systems are projected to increase from $133.7 million in 2004 to $271.7 million by 2007. Wearable systems and devices let users keep their hands free for other activities during operation, an advantage when picking and placing items, tracking inventory, and performing cross-docking applications. Spending is concentrated in, though not confined to, warehouse and transportation and distribution markets.
VDC also estimates the global market for biophysical monitoring wearable systems will exceed $192.5 million in 2005 and should reach $265 million by 2007. This growth is equal to a 17.5% compound annual growth rate from a relatively small base. Strap-based products represent the major form factors for wearable biophysical monitoring solutions. Significant interest also exists in clothing-based form factors across vertical markets. A number of smart fabric-based products has been introduced, and a number of others are in development, indications of significant growth in the near future, VDC predicts.
Says David Krebs, mobile and wireless practice director for VDC, “The wearables market offers considerable potential for companies with strong value propositions based on proven technologies. It requires segment-specific solutions, with all the pre- and post-installation configuration management that term implies.”
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—Jeanine Katzel, senior editor, Control Engineering,