Overview
The use of IoT devices is expanding throughout a number of industries. Suppliers will concentrate more of their efforts on making sure that IoT is becoming more secure. Wearable technology is becoming more and more popular in businesses, and its application has the potential to completely transform a number of aspects of corporate operations. Notably, the use of wearable technology is leading the way in sectors such as insurance, healthcare, fintech, and logistics.
Healthcare
Wearable electronic medical devices have completely transformed the way healthcare practitioners gather and use patient data. By combining a wide variety of sensors, these gadgets offer a full picture of a person's health, facilitating in-depth tracking and evaluation of vital signs and other important parameters.
Education, Entertainment and Travel
When it comes to adopting new technologies and realizing their potential in the industry, the gaming and entertainment sector has always been at the forefront. In this field, wearable technology has led the way with VR headsets, glasses, and controllers that support a variety of leisure experiences, from virtual travel and movie-watching to immersive gaming adventures.
Retail
The use of NFC (Near Field Communication) technology for contactless payments has quickly become a commonplace and convenient feature, especially for users of fitness and smartwatch bracelets. According to recent surveys, an astounding 35% of wearable gadget users actively take advantage of this functionality to enable secure and easy payment processing while making transactions.
Client Challenges
The client wanted to understand the list of strategic decisions taken by connected device manufacturers to increase their presence in various industries such as fitness and sports, healthcare, education, entertainment and travel. The challenges include:
- Improved short-term and long-term demand planning
- Factors behind the escalating challenges in connected technology supply
- Potential/addressable market size for the connected device market
- The future growth rate for the required market
- Key factors influencing the connected device manufacturers
- Competitive analysis of leading market players
