Visiongain, an independent media company in Europe, says “wearable technology” is the buzzword of 2014.
And a small number of vendors are benefiting most from this very big market.
Wearables dominated 2014’s CES, with every major OEM champing at the bit to grab a slice of an expanding pie. Although many first generation attempts were met with criticism, consideration for design and features is being carefully applied to new technologies, evolving at a rapid rate.
“This is greenfield for many vendors,” the company says. “The plausibility of smart garments and augmented reality goggles has attracted the interest of technology enthusiasts and software developers alike. Now that the smartphone and tablet markets are showing signs of slowing, it is time for the next major wave of consumer electronics to hit.”
As of early 2014, Visiongain calculates that the leading 20 wearable technology vendors have revenue representing nearly 85% of the global market.
Visiongain’s newest report – Top 20 Wearable Technology Companies 2014: Smartwatches, Cameras, E-Textiles / Clothing, mHealth, Fitness & Activity Trackers & AR Glasses – concludes that the leading wearable technology vendors are incredibly diverse in their business models, strategies, and offerings.
“The wearable technology market will grow explosively in the next five years,” Visiongain explains, “and there remain many untapped market niches that these leading vendors are poised to exploit. As the market moves into a growth phase, so too will the relationships between these vendors, with competition becoming more vociferous and strategic alliances and partnerships leading to significant balance-of-power disruptions in the market.”