How Wearable Technology Could Help to Boost Business Profitability?

  • 08 Dec 2021 10:50
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How Wearable Technology Could Help to Boost Business Profitability?

Wearable technology has gained much popularity in the recent decade. Both the customers as well as companies have started using this technology for a variety of applications. As its impact has been increased, it has become difficult to imagine life without this level of accessibility. Not only has it reduced the need for using cell phones, but with multiple applications and advanced features, it has attracted the fancies in various industries including healthcare. Wearable electronics are very revolutionary to a certain degree. In addition, the advancements made in the past decade have made it possible for users to understand and appreciate the potential of these devices in the present.

Owing to the advantages offered by wearable technology and its adoption, the demand is hastily growing in the market. The key market players, on the other hand, are adopting multiple strategies to expand the market. Moreover, the field is getting prospered with some activities including new researches as well as product launches. Following are some of the latest accomplishments in the market-

New Product launches are flourishing the industry and enhancing productivity-

The launch of innovative wearable electronics is becoming a new trend. Recently, Samsung, a leading electronics brand has unveiled its Samsung Galaxy Watch 3 along with Samsung Galaxy Buds Live TWS earbuds at the Galaxy Unpacked event. The Galaxy watch 3 runs on Tizen-based Wearable OS 5.5. Moreover, both products offer advanced multiple features. In addition, following the same trend, a Google-backed technological company as well has launched the TicWatch GTX smartwatch. The smartwatch has been launched with the purpose to provide a budget-friendly wearable. In addition, it offers features including 14 work-out modes and heart rate monitoring, with a battery backup for up to seven days.

Other than new products, the market players are also investing in further research processes. Recently, a group of researchers has established a range of inks for use with wired connections, semiconductors, and dielectrics which can be foreseen to have a great promise in the field of wearable electronics. The draw-on ink can be easily applied to the skin, using a pen, and a pattern. Moreover, this printing technology could see basic processors printed onto people with the task of vital health observing and data recording to an adjacent device with a local radio link.

Novel researches and advanced wearable technology to offer numerous prospects-

Besides this, researchers from Cornell University and the University of Wisconsin, Madison, have designed a 3D hand-sensing wristband called FingerTrak to translate the entire human hand into 3D. Furthermore, as wearable sensing technology, the device could be used for purposes including translation of sign language, mobile health, virtual reality, human-robot interaction, and others.

The ever-changing world of tech advancements has blurred the line between our necessity and demand. Getting closer to reality visions to welcome advanced technology. According to a report published by Allied Market Research, the global wearable electronics market is predicted to reach $25.19 billion with a corresponding volume of 142.6 million units by 2020. Wearable technology was charged in as a technological advancement only a decade ago, and the interest in this sector still endures to propagate. The factors such as the trend of converging technologies and the presence of internet mobility drive the growth of the market. In addition, the surge in the number of customers adopting digital devices has further boosted demand growth. 

Wearable electronics proposes some prospects with their many features. On the other hand, factors including the ruggedness of these devices and product building further expand the opportunities in the market. Moreover, with the growing market activities, innovations & launches, and key strategies adopted by the market players, the industry is anticipated to usher in multiple opportunities soon.

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Harold Abelson By, Harold Abelson
Hello, everyone! Harold Abelson is my name. I am passionate about technology and discussed my enthusiasm with you via Sublime. I am trying to offer the most reliable resources of all technical subjects.
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