Tractica is out with a new report that paints a bright picture for the future of the enterprise wearables market.
Enterprise and industrial organizations in a wide range of sectors are increasingly turning to wearable devices as an extension of their technology toolkits, a report summary shared with MMW reads.
According to Tractica, early pilot programs have yielded strong return on investment (ROI) in many cases, which is driving greater interest in enterprise adoption of wearables among industry leaders and fast followers alike.
The market intelligence firm forecasts that, as a result of this growing focus, annual worldwide revenue from enterprise wearables will reach $6.3 billion by 2020, up from $218 million in 2015.
“An entire industry is taking shape to provide wearable platforms and integration services for enterprise end-user organizations,” says research director Aditya Kaul. “Companies in a variety of sectors are working through challenges related to technology selection, software customization, user experience, reporting capabilities, and integration with existing IT systems.”
