Basingstoke, England—The market for “wearables”—technology that’s wearable—could amount to a $80 billion business by 2020, especially if there’s a fashionable interpretation.
In its new report “The World in 2020—A technology Vision,” Juniper Research argues that invisible wearables (i.e. wearables indistinguishable from non-smart technology) are likely to see significant adoption before the end of the decade.
Within a wearables market that Juniper estimates will be worth approximately $80 billion annually by 2020, “fashion-first” wearables will have a much greater appeal than tech-centric devices, as they will blend in with consumers’ lives more effectively. However, the report points out that this will not be a strategy that every wearables company will pursue, as the appearance of tech may ultimately become part of an overall design aesthetic.
Meanwhile, dermally-attached wearables—such as biostamps—are “in a more embryonic state, and require a more significant shift in consumer habits than accessories-based wearables, limiting their adoption among general consumers for the foreseeable future.”
Juniper pointed out that sales of Apple Watches this year now range as high as 20 million, a figure that has some watch companies scrambling to introduce smartwatches of their own.
What to watch in the watch market: Analysts think the high-end of the fashion watch segment is most at risk lose share. In the luxury segment, although brands might feel pressure at the opening pricepoints, the Apple Watch shouldn’t be a significant factor in the highest priced, luxury levels.
The new report “The World in 2020—A Technology Vision” examines the following developing technologies:
- Real-Time Translation
- Augmented Reality Wearables
- Desktop 3D Printing
- Invisible Wearables
- Advanced Driver Assistance
- 5G/Internet of Everything
- RNA Sequencing
- Wireless Area Charging
- Self-Driving Cars
The report is available as a free download from http://www.juniperresearch.com.