What is Wearable Technology?
Wearable technology refers to any electronics device which can be worn on the body in the form of clothing or accessory and can collect information to enhance the wearers natural abilities. The world’s leading wearable technology companies are nowadays offering various of wearable technology products including fitness trackers, smart watches, smart clothing, head mounted displays, smart jewellery, and implantables. The sensors in wearable tech devices records and analyses wearer’s data on a real time basis and provides valuable insights related to the user’s activities and fitness. Some wearable devices such as VR headsets, and smart glasses also provide virtual, mixed, and augmented reality experience to the users.
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Top 10 Wearable Technology Companies in the World and Their Major Products in 2018
Apple Inc.
Founded: 1976
Headquarters: California, U.S.
Website: www.apple.com
Apple is one of the world’s top wearable technology companies. Apple Watch and Apple AirPods are the wearable products offered by the company. Apple Watch helps the user in keeping track of their daily activities and reach their fitness goals. The in-built accessibility features help even the blind, deaf and handicapped persons operate the watch with ease. For example, the VoiceOver feature uses the speaker in the watch to help people with low-vision navigate around easily by telling everything that’s happening on the screen. Similarly, Taptic Engine in these watches creates a gentle tap on the wrist whenever notifications come in thereby helping people with low hearing. The custom-made Apple W1 chip in AirPods allows it to provide unrivalled performance by offering efficient wireless connection, improved sound and longer battery life.
Key Products: Apple Watch Series 4, Apple Watch Nike+, Apple Watch Hermes, and AirPods
Find out Apple’s market share in Global Wearable Electronics Market
Samsung
Founded: 1938
Headquarters: Seoul, South Korea
Website: www.samsung.com
Samsung Gear offers a wide range of wearable devices including smartwatches, VR headsets and fitness trackers. The Gear S3 is a smartwatch developed by the company with advanced features such as in-built GPS, speakers and direct access to all apps. Several actions such as managing calls and alarms, volume and brightness control, and apps and email browsing can be performed by just a simple turn of the circular bezel on the watch. Moreover, its water and dust resistant property makes it suitable for use in all kinds of
weather. It also boasts of a long-lasting battery which allows it to work for up to 4 days on a single charge. The continuous inclusion of innovative features in its products makes Samsung one of the top wearable technology companies in the world.
Key Products: Gear S3 Frontier, Gear Sport, Gear Fit2 Pro, Gear IconX, and Samsung Gear VR
Read Technavio’s market research report to learn more about “Global Wrist Wearable Market 2017-2021”
FitBit
Founded: 2007
Headquarters: San Francisco, California, United States
Website: www.fitbit.com
FitBit is one of the world’s leading fitness wearable technology companies that designs a variety of wearable devices that can work seamlessly with each other. It was the first company to introduce automatic, wireless syncing in wireless devices. Its products can be synced with more than 200+ phones on all platforms, including iOS, Android, and Windows. SmartTrack is a FitBit wearable technology that records one’s activity, exercise, weight and sleep thereby helping the user to maintain a fit and healthy life. FitBit employs PurePulse technology to develop automatic, chest strap-free wearable heart rate monitors that records heart rate accurately.
Key Products: FitBit Versa, FitBit Ionic, FitBit Charge 3, FitBit Flex 2, and FitBit Ace
Xiaomi
Founded: 2010
Headquarters: Beijing, China
Website: www.mi.com
Xiaomi is the world’s 4th most valuable technology startup and ranks among the top 10 wearable technology companies in the world. Although, it is known for its smartphones, the company also manufactures wearables such as fitness trackers, earphones and VR headsets. Mi Band 3 has a large OLED touchscreen and offers up to 20 days battery life. Apart from real time activity tracking, Xiaomi’s wearable fitness trackers can be used to view notifications, SMS, and calls, track steps and sleep pattern, monitor heart rate and even locate one’s phone.
Key Products: Mi Band 3, Mi Band – HRX Edition, and Mi VR Play 2
Read Technavio’s market research: Global Smart Wearable Entertainment Devices and Services Market
ODG
Founded: 1999
Headquarters: San Francisco, California, United States
Website: www.osterhoutgroup.com
The Osterhout Design Group (ODG) is one of the leading wearable device manufacturers in the world. It specializes in the development of head worn computing and electro-optics technology that is used to manufacture smart glasses. These smart glasses provide unparalleled mixed reality, augmented reality, and virtual reality experiences. ODG’s product portfolio includes stereoscopic smart glasses, hazardous location certified sunglasses, and THX certified, cinematic experience sunglasses which finds use in various industrial, business and enterprise applications. The R7 smart glasses offered by the company are suitable for use in heavy industries with hazardous work environment where it can get exposed to high temperature, chemicals, and gases.
Key Products: R-7 smartglasses, R-8 smartglasses, and R-9 smartglasses
Garmin
Founded: 1989
Headquarters: Kansas, United States
Website: www.garmin.com/en-US
Garmin is a wearable technology company that develops smart wearables for marine, automotive, aviation, and fitness industries. Some of Garmin’s wearable devices comes equipped with Garmin Pay contactless payment solution which enables easy, quick and effortless purchases with your watch. The activity trackers and smartwatches manufactured by the company can be used to track one’s activity and then plan, save and share their progress with others. The company also offers wearable devices for household pets and sporting dogs which can be used to train and track pets and dogs.
Key Products: Fenix 5 Plus Series, vivomove HR, vivosport, Approach S60, and quatix 5 Series
Read Technavio’s industry research report on “Global Wearable Payment Market 2016-2020” to know about the growth prospects of wearable payment market.
HUAWEI
Founded: 1987
Headquarters: Shenzhen, Guangdong, China
Website: www.huawei.com
HUAWEI is one of the world’s largest wearable device manufacturers. The company combines cutting-edge technology with traditional watch making to design and develop smartwatches of different styles. The company uses high quality materials such as ceramic which is harder than stainless steel, lightweight, and abrasion resistant to design the bezel on the HUAWEI Watch 2. The HUAWEI TruRelax technology used in HUAWEI TalkBand B5 analyses stress levels and heart rate which in turn helps the user to take better care of their mental health. This fitness band also provides sleep care by monitoring different stages of sleep by using Harvard Medical School’s CDB center certified HUAWEI TruSleep technology.
Key Products: HUAWEI TalkBand B5, HUAWEI FIT, HUAWEI WATCH 2, and HUAWEI Band 2
Technavio’s research report on “Global Smart Wearable Fitness and Sports Devices and Services Market 2016-2020” lists the major drivers, trends, and challenges affecting the growth of the market
Polar Electro
Founded: 1977
Headquarters: Kempele, Finland
Website: www.polar.com
Polar Electro is known for the development of wearable heart rate monitoring devices, fitness trackers, and GPS sports watches for fitness and athletic training purposes. The company offers specialized wearables for professional athletes, that provides accurate data. The Precision Prime sensor fusion technology in Polar Vantage V helps in monitoring heart rate even in the most demanding situations. The company also produces wearable accessories such as optical heart rate sensors that can be synced with Polar Electro smart watches and fitness trackers to get highly accurate training data.
Key Products: Polar Vantage V, V800, M600, Polar A370, and H10 Heart Rate Sensor
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Vuzix
Founded: 1997
Headquarters: Rochester, New York
Website: www.vuzix.com
Vuzix ranks among the top 10 wearable technology companies in the world. It specializes in the design, manufacture and sales of wearable display devices including smart glasses and video viewing glasses. Vuzix’s award winning iWear video headphones are capable of providing a viewing experience equivalent to a 125″ home theater screen viewed from 10 feet away. It can be connected with phones, tablets, PCs, and console systems thereby enabling the user to have an amazing viewing and gaming experience.
Key Products: Vuzix Blade AR Smart Glasses, M300 Smart Glasses, iWear Video Headphones, and M100 Smart Glasses
Read Technavio’s market research report to know more about “Global Military Wearable Sensors Market 2017-2021”
Kopin
Founded: 1984
Headquarters: Massachusetts, United States
Website: www.kopin.com
Kopin is one of the world’s top wearable technology companies and leading developers of wearable technology that boosts the visual, verbal, and audio capabilities of wearable headsets. The company has collaborated with several companies such as Vuzix, Recon Instruments, and Motorola Solutions to develop wearable products. The company created the Golden-I 3.8D, a wearable headset reference design that enhances the efficiency and productivity when used in industrial applications. Kopin’s Voice Extraction Technology enhances the voice recognition capabilities of its wearable headsets even in the noisiest conditions.
Wearable Technology Market Outlook
IoT devices such as wearable tech devices are gaining popularity among medical, automotive, and consumer electronics industries. IoT wearables can connect to the internet and exchange data between the device and network, which in turn helps in resolving supply chain challenges for end-user industries by improving their decision-making process. Thus, the increasing preference for a connected environment and need to access real time data is driving the wearable technology market growth during the forecast period 2018-2022.
The increasing use of wearable device in healthcare industry will be one of major wearable technology market trends that will boost the market growth in the near future. Wearable device manufacturers are focusing on the development of specialized wearables for the healthcare sector that will allow doctors to collect patient’s data easily leading to advanced diagnosis. The integration of haptic technology in smart watches will be another important trend that will drive the growth of the market during 2018-2022.
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