Wearables to be Worth $50 Billion in Next 5 Years
Written By Wearables.com
In a new study by ON World,the wearable technology industry is poised to reach $50 billion within the next five years.
Within that rapid growth, the study suggests that more than 700 million wearable tech devices will be shipped into the global market, thus creating a market worth $47.4 billion. The vast majority of this wealth will be created from hardware, however monitoring services, subscriptions, and mobile applications will have a faster rate of growth within this time period to accommodate the devices. Even with a quick look into the upcoming future, wearables such as smart watches, glasses, and personal sensors are set to surpass fitness/health oriented wearables by the end of the year, and make up ⅔ of the industry by 2018.