The technology has considerably impacted the manner in which health and fitness monitoring devices were perceived a decade ago. The wearable technology has been positively embraced and absorbed in numerous sectors such as healthcare & fitness, manufacturing, retail and others with open arms.
Wearable technology has experienced high evolution in the last few years and companies are frequently launching new and innovative products and solutions apart from usual wearable devices like smart glasses, smart clothing and wearable patches fostering high adoption rate among individuals. For delivering the products to the end users wearable technology solution providers uses multichannel distribution system which is based on both web applications and brick & mortar such as physical stores, international and national retailers, Independent retailers, online stores and distribution channels.
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In the present time, the growth in the wearable technology market is highly driven by the factors like increasing level of penetration of mobile devices, tablets, smartphones and devices used for Machine-to-Machine communications, evolving business models and emerging software ecosystems. Nearly all conventional wearable devices now are paired with smartphones, which have become the integral part of our day-to-day life. Wearable devices like smart watches synced with smartphones are helping end-users to check and attend calls and message without taking out the smartphones. Companies like OnePlus, Samsung and others nowadays are also launching smartphones with complementary wearable devices which will provide end users with enhanced experiences.
The wearable technology is expected to have a significant adoption rate in future in various verticals such as fashion & lifestyle, safety & security, industrial & military and infotainment etc. The market for wearable technology is estimated to...