Wearable Tech to Become a $54 Billion Industry by 2023: Report

Aug. 7, 2019

Meanwhile, smart earwear, or hearables, are also becoming more popular with the emergence of devices that incorporate voice-activated virtual assistants such as Apple’s Siri and Google’s Assistant.“Hearables also have the potential to match, or even exceed, the performance of smartwatches when it comes to providing health monitoring services”, according to Ed Thomas, the Principal Analyst for Technology Thematic Research.

Meanwhile, the report further notes that enterprise adoption of wearable tech is also increasing, thanks to the healthcare, logistics, insurance, fintech and defense sectors. That being the case, Thomas says he expects enterprise use of such technology to increase significantly in the years ahead. According to him,“Over the next few years, wearable devices will become smarter, as they incorporate technologies like artificial intelligence and augmented reality and so their relevance, particularly to enterprise users across industries, will only increase”.

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