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Futuristic Outlook of Wearable Technology in Key Applications : Transformational impact across various industries
Wearable Technology involves body worn electronics that can perform various functionalities such as sensing, communicating, and computing- Wearables’ is the result of convergence of various technologies in sensors, microelectronics, and ICT- Wearable technology impacts the lives of millions of people who are adopting this technology primarily to improve their lifestyles by monitoring health and fitness-
However, the application scope of wearables is not only limited to fitness tracking- Wearable technology is still in the emerging phase and it is important to understand how the technology will evolve in the next 5-10 years and the key opportunities presented by the technology- This Research Service includes the following with regards to wearable technology: Funding trends, IP activity, Transformation potential of enabling technologies, Innovation ecosystem, application overview with futuristic outlook, strategic insights including impact of megatrends and potential interaction with TechVision top 50 technologies and emerging business models that can be adopted by companies-
The Success of wearables will be dependent on innovations from the entire ecosystem, comprising of app developers, software providers, technology providers and original equipment manufacturers (OEMs)-
Cloud Computing is a key enabling technology for wearables- The ability of wearables to leverage the cloud platform will depend on ubiquitous Internet connectivity-
Products that cater to diverse applications will experience better acceptability as currently there is a plethora of options, unique for each application-
Wearables such as smartwatches will disrupt traditional watch makers as wearables provide advanced functionalities with comparable form factors-
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