Wearable technology: over-hyped or the next big thing?
A Pebble Smartwatch Image: JohnnyMrNinja |
Wearable technologies include hardware devices, apparel and textiles and could be in the form of glasses, jewellery or even footwear.
Depending on which latest research you believe, 'wearables' are neither useful nor meeting our expectations, or are set for exponential growth.
IDTechEx's "Wearable Technology 2014-2024: Technologies, Markets, Forecasts" report predicts that wearable electronics business will increase from more than $14bn in 2014 to a staggering $70bn or more by 2024.
The healthcare sector is leading the way in wearables focusing on medical, fitness and wellness. Big names like Apple and Nike are well ahead in wearable market development.
Meanwhile Gartner, which regularly publishes "Hype Cycles" reports, indicates that wearable technology is among the most hyped technologies, along with the Internet of Things and cryptocurrencies such as Bitcoin.