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Connected Wearables

  • December 2014
  • -
  • Berg Insight AB

Executive summary

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 are already being widely used in professional markets. The exploding 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 19.0 million units in 2014. The market is expected to grow at a CAGR of 54.7 percent to reach shipments of 168.2 million by 2019. 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 42.0 million units in 2019. The smartwatch category has also started to reach significant volumes and is predicted to become the largest device category reaching shipments of 90.0 million devices in 2019, up from 5.0 million units in 2014. 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 become the third largest category of connected wearables and reach shipments of 11.0 million devices in 2019, up from only 0.03 million units in 2014. 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 7.1 million and 3.1 million at the end of the forecast period respectively. 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 184.8 percent from 0.08 million units in 2014 to reach 15.0 million units in 2019.

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 0.5 million in 2014 to reach 26.9 million connections in 2019. 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. In November 2013, the sports apparel vendor Under Armour acquired MapMyFitness. Intel acquired the wearable device vendor Basis Science in March 2014. Three notable transactions concerning connected wearables took place in the medical & healthcare segment during 2014. The major medical device vendor Covidien acquired the wearable medical device specialist Zephyr Technologies. Medtronic acquired Corventis which has developed a wireless ECG monitoring patch. Furthermore, the major medical technology specialist St. Jude Medical acquired CardioMEMS which has developed an implantable and wireless heart monitoring system.

Table Of Contents

Connected Wearables
Table of Contents i
List of Figures vi
Executive summary 1
1 Introduction to wearable technology 3
1.1 Introduction 3
1.1.1 Background 3
1.1.2 Definitions 4
1.2 Market segments 4
1.2.1 Infotainment and lifestyle 5
1.2.2 Fitness and wellness 6
1.2.3 People monitoring and safety 6
1.2.4 Medical and healthcare 7
1.2.5 Enterprise and industrial 7
1.2.6 Government and military 8
1.3 Technologies and platforms 9
1.3.1 Mobile operating systems and platforms 9
1.3.2 Battery and processor technologies 10
1.3.3 Wireless technologies 12
1.3.4 Sensors 15
1.3.5 Display technologies and user interface 16
2 Value chain and vendor landscape 19
2.1 Enabling technologies 19
2.1.1 Hardware component vendors 20
2.1.2 Mobile operating system vendors 21
2.2 Devices 22
2.2.1 Smartphone and consumer electronics manufacturers 22
2.2.2 Apparel and accessories companies 26
2.2.3 Specialist vendors 29
2.3 Connectivity services and IoT platforms 30
2.3.1 Wireless operators and managed service providers 31
2.3.2 IoT platform providers 32
2.4 Apps and content 36
2.4.1 Software application developers and content providers 36
3 Smartwatches 39
3.1 The smartwatch market 39
3.1.1 Market size and major vendors 40
3.1.2 Established smartphone vendors and watch brands enter the market 41
3.2 Smartwatches and wireless connectivity 44
3.2.1 Bluetooth is the most common connectivity option today 44
3.2.2 Cellular connectivity introduced in a handful smartwatches 45
3.3 Company profiles and strategies 46
3.3.1 Samsung: Multi-platform and multi-device strategy 46
3.3.2 Pebble: From crowdfunding to mass market success 48
3.3.3 Sony: Smartwatch veteran gets new life from Android Wear 49
3.3.4 Apple: Enough scale to bet on its own platform 50
3.3.5 Shanghai Nutshell Electronic: Focus on China 51
4 Smart glasses 53
4.1 The smart glasses market 54
4.1.1 Limited availability and experiments with features and target markets 54
4.1.2 Imaging glasses, 3D viewing glasses and wearable VR/AR solutions 57
4.1.3 Growth opportunities in the professional market segments 58
4.2 Smart glasses and wireless connectivity 59
4.3 Company profiles and strategies 60
4.3.1 Recon Instruments: Focus on sports and an active lifestyle 60
4.3.2 Vuzix: Wearable display specialist turns to the enterprise segment 61
4.3.3 Epson: Aims at both professional and consumer segments 62
4.3.4 Google: Glass Explorer Program showcases a plethora of use cases 63
4.3.5 Kopin: Provides technology solutions to the smart glasses market 64
5 Connected fitness and activity trackers 67
5.1 The connected fitness and activity tracking market 67
5.1.1 Market size and major vendors 68
5.1.2 Fitness and activity tracking bands 69
5.1.3 Bluetooth connected sports watches 71
5.1.4 Other form factors 73
5.2 Fitness and activity trackers and wireless connectivity 76
5.3 Company profiles and strategies 77
5.3.1 Jawbone: Wearable pioneer now offers a family of activity trackers 77
5.3.2 Fitbit: Activity tracker market leader returns with new products 78
5.3.3 Microsoft: Enters the market with activity band and cross platform service 79
5.3.4 Garmin: GPS sports watch giant introduces connected features 80
5.3.5 OMsignal: Clothing with embedded sensors 81
6 People monitoring and safety devices 83
6.1 Family locator and consumer oriented locator devices 83
6.1.1 Child locator devices 84
6.1.2 Wearable locator devices for adults 86
6.2 Lone worker protection and offender monitoring devices 87
6.2.1 Lone worker protection devices 88
6.2.2 Offender monitoring devices 89
6.3 Next-generation telecare and mPERS 90
6.3.1 Mobile telecare and mPERS devices 91
6.3.2 Telecare activity monitoring solutions 94
6.4 Company profiles and strategies 95
6.4.1 Filip Technologies: Developer of the Filip child locator wristwatch 96
6.4.2 hereO: Start-up set to launch the hereO family locator watch and app 96
6.4.3 Everon: Developer of GPS wristwatches for telecare and lone workers 97
6.4.4 Numerex: Enters people monitoring markets through acquisition of Omnilink 97
6.4.5 Limmex: Swiss telecare watch vendor ramping up sales globally 98
6.4.6 LOSTnFOUND: Swiss asset tracking vendor entering the telecare market 100
7 Medical devices and miscellaneous 103
7.1 Medical devices 103
7.1.1 The mHealth and home monitoring market 105
7.1.2 Regulatory environment 106
7.1.3 Wearable medical devices and implants 107
7.2 Additional connected wearable devices 115
7.2.1 Wearable industrial computers 115
7.2.2 Military devices 117
7.2.3 Authentication and gesture control devices 118
7.2.4 Other wearable devices 120
7.3 Company profiles and strategies 123
7.3.1 Medtronic: Connected wearables for ECG monitoring and CRM patients 124
7.3.2 Dexcom: Connected continuous glucose monitoring 125
7.3.3 Zephyr Technology: Betting on connected wearables 126
7.3.4 Withings: Connected health and wellness aimed at the consumer market 127
7.3.5 Motorola Solutions: Wearable computers for the enterprise market 128
8 Market forecasts and trends 129
8.1 Global market outlook 129
8.1.1 Market segments 130
8.1.2 Regional market data 131
8.1.3 Cellular connections 132
8.2 Market forecasts - smartwatches 133
8.2.1 On the verge to reach mass market adoption 134
8.2.2 Connectivity strategies 135
8.3 Market forecasts - smart glasses 135
8.3.1 Opportunities in the professional and niche consumer segments 136
8.3.2 Connectivity strategies 136
8.4 Market forecasts - fitness and activity trackers 137
8.4.1 Wrist worn activity trackers will face fierce competition from smartwatches 138
8.4.2 High growth in other form factors 139
8.5 Market forecasts - people monitoring and safety devices 139
8.5.1 Wearables will be the most common form factor in family locators 141
8.5.2 Great potential in next-generation telecare and mPERS 141
8.5.3 Modest growth in offender monitoring and lone worker devices 142
8.6 Market forecasts - medical devices 143
8.6.1 Cardiac Rhythm Management is the largest connected device category 144
8.6.2 Connectivity strategies 145
8.7 Market forecasts - other connected wearables 145
8.8 Market trends and drivers 146
8.8.1 Wearables are at the intersection of fashion and technology 147
8.8.2 The myriad of use cases is wearables' killer app 147
8.8.3 Long-term engagement: bringing it all together 148
8.8.4 Wearables raise privacy and security concerns 148
8.8.5 New MandA activities anticipated to take place in the wearables industry 149
Glossary 153

List of Figures

Figure 1.1: Market segments, applications and devices 5
Figure 1.2: Wireless technologies characteristics 13
Figure 2.1: The connected wearables value chain 19
Figure 2.2: Smartphone shipments by OS (World 2013 and H1-2014) 21
Figure 2.3: Leading consumer electronics companies by revenue (2013) 23
Figure 2.4: Smartphone shipments by vendor (World 2013 and H1-2014) 25
Figure 2.5: Major apparel and accessories companies (World 2013) 28
Figure 2.6: Examples of specialist device vendors by segment 30
Figure 2.7: Top global mobile network operators by subscriber base (Q4-2013) 31
Figure 2.8: Examples of IoT platform providers 33
Figure 3.1: Apple Watch, Motorola Moto 360 and Samsung Gear S 40
Figure 3.2: Smartwatch shipments by vendor (World 2013) 41
Figure 3.3: Examples of introduced smartwatches 43
Figure 3.4: Examples of smartwatches featuring cellular connectivity (Q3-2014) 45
Figure 3.5: Connected wearables from Samsung (2013-2014) 47
Figure 3.6: Connected watches from Sony 50
Figure 4.1: Smart glasses form factors 55
Figure 4.2: Examples of announced smart glasses (November 2014) 56
Figure 4.3: Examples of VR and AR solutions 58
Figure 5.1: Wearable fitness device form factors 68
Figure 5.2: Connected fitness and activity tracker shipments by vendor (H1-2014) 69
Figure 5.3: Examples of Bluetooth connected activity wristbands 70
Figure 5.4: Examples of Bluetooth connected sports watches 72
Figure 5.5: Bluetooth connected activity trackers with alternative form factors 74
Figure 5.6: Jawbone fitness and activity trackers 78
Figure 5.7: Fitness and activity trackers from Garmin 80
Figure 6.1: Examples of wearable child locator devices 84
Figure 6.2: Wearable child locator devices 85
Figure 6.3: Everfind Safelet, PFO Shield and Cuff bracelet 87
Figure 6.4: Lone worker protection devices 88
Figure 6.5: Offender monitoring devices featuring cellular and GPS connectivity 90
Figure 6.6: Mobile telecare and mPERS devices 92
Figure 6.7: Connected wearables from LOSTnFOUND and Limmex 93
Figure 6.8: Connected wearables from Aframe Digital and Vivago 94
Figure 7.1: Examples of wearable medical applications 104
Figure 7.2: Examples of medical devices 108
Figure 7.3: Cardiac rhythm and ECG monitoring devices 110
Figure 7.4: Connected glucose and blood pressure monitors 112
Figure 7.5: MC10 Biostamp and Orpyx SurroSense RX 114
Figure 7.6: Examples of wearable industrial computers 116
Figure 7.7: Wearable industrial computers from Motorola Solutions and Kopin 116
Figure 7.8: Examples of wearable authentication devices 119
Figure 7.9: Examples of various wearable devices 121
Figure 7.10: Various connected wearables 122
Figure 7.11: Connected wearables from Withings 127
Figure 8.1: Connected wearables shipments by device category (World 2013-2019) 130
Figure 8.2: Connected wearables shipments by market segment (World 2013-2019) 131
Figure 8.3: Connected wearables shipments by region (World 2013-2019) 132
Figure 8.4: Cellular connections by segment (World 2013-2019) 133
Figure 8.5: Smartwatch shipments by region (World 2013-2019) 134
Figure 8.6: Smart glasses shipments by region (World 2013-2019) 135
Figure 8.7: Fitness and activity tracker shipments by region (World 2013-2019) 137
Figure 8.8: Fitness and activity tracker shipments by category (World 2013-2019) 138
Figure 8.9: People monitoring and safety device shipments (World 2013-2019) 140
Figure 8.10: Wearable medical device shipments (World 2013-2019) 144
Figure 8.11: Other connected wearables shipments (World 2013-2019) 146
Figure 8.12: Connected wearables - mergers and acquisitions (2012-2014) 150

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