Smart Wearables are electronic devices that are worn on a person usually close to the skin in order to accurately relay important medical, biological and exercise data to a database.
This electronic technology or devices incorporated into items that can be comfortably worn on a body. These wearable devices are used for tracking information on a real time basis.
Smart Wearables Market
They are installed with motion sensors that can record day to day activity and display the in mobile devices or laptop computers.
Mainly wearable devices are used in the field of military and defense industry and in sports industry. In fact, these devices were an integral part of the medical and healthcare sector in the military forces.
Devices like ‘Wearable Motherboards’ or ‘Smart Shirts’ are used to monitor the health and wellbeing of the patients and send information to the hub station.
Smart Wearable Types
Types of Smart wearable technology are:
- Smart Watches: Are type of watch which can provide users information likes notifications of calls, messages, emails, social media updates, etc.
- Fitness Tracker: Track number of steps the user walks each day and continuously monitors the heart rate. Using this information, the devices can calculate and report accurate data on calorie burn and exercise done by the user.
- Head Mounted Display: Create a sence of virtual reality. It provides virtual information directly to eyes.
- Sports watches: The wearable devices is especially built for sports person to track and record activities like running, cycling, swimming etc. These devices come with GPS tracker and records information on the user’s pace, heart rate etc.
- Smart jewelry: Smartwatches are designed as jewelries specially targeting women. These jewelries notify the users of their text messages, calls or emails when their phone is out of reach.
- Smart Clothing: The smart electronic devices are incorporated into the Wearable Clothing to give an interesting and fashionable look.
- Implantable: These wearable electronics are surgically implanted under the skin. These are usually used for medical reasons like tracking contraception’s, insulin levels etc.
Smart Wearable Industry
The rising adoption of smart wearable technology products among consumers is driving industry growth. These devices monitor health by keeping track of cholesterol levels, calories burnt, oxygen levels, etc., through sensors.
In addition, several companies, such as Fitbit, Samsung, Noise, and Fossil Group, Inc., are introducing wearable technology (smart watches and other accessories) with health tracking solutions.
Such a feature is anticipated to attract consumers as it helps them check their health, which paves the way for Smart wearable Market growth.
For instance, in April 2024, LAVA launch its first smartwatch Pro watch in India with features like monitoring various activities to tracking heart rate, it will also provide users with accurate and insightful data to support fitness goals and health metrics like SpO2 (blood oxygen) tracking.
On the other hand, smart jewellery are also becoming popular and driving the market of smart wearable for example Samsung has announced the launch of w smart ring-shaped wearable device.
Galaxy Ring, as part of its Galaxy Unpacked this smart ring can measure respiratory rate, heart rate, health rate variability (HRV), blood oxygen levels, and body temperature.
Other factor which drives the market is Gaming sector.as technological advancements. Wearable technology continues to evolve, offering gaming experiences.
Extended Reality (XR), encompassing VR, AR, and Mixed Reality (MR), Wearable gaming is going to be the turning point in advancing wearable technology. Players’ interactions with the game will become more immersive as XR blurs the lines between digital and physical space.
The virtual and the physical will become more closely integrated, prompting new kinds of gaming experiences.
With XR, a form of wearable technology emerges into one of the biggest frontiers in the gaming universe. Virtual reality (VR) headsets are by far the most prevalent form of wearable devices.
VR headsets instantly immerse you through a zero-latency feedback loop in their applications, be they simulators, games, or online 3D virtual chatrooms. A bevy of VR headsets exists for gaming, like Oculus Rift or the PlayStation VR.
The major companies serving in this industry are Alphabet Inc., Samsung Electronics Co., Ltd., Sony Corp., Huawei Technologies Group Co., Ltd., Apple Inc., Xiaomi Corp., Adidas AG, Nike, Inc., Fitbit, Inc., Garmin Ltd. and others.
Smart Eearable Market Recent Developements
Some recent developments happening in this industry are.
- In September 2023, Noise, entered joint venture with Il Jin Electronics, a subsidiary of Amber Enterprises India, for manufacturing, assembling and designing wearables and other smart electronics products in India.
- In July 2023, Noise launched Luna Ring a ring with built-in sensors for health-and-fitness related data monitoring system.
