Gadgets that monitor heart rate, count steps and keep track of calories are being snapped up by health nuts and fitness buffs as a way to improve performance and provide a bit extra motivation.
They’re becoming so popular that the fitness and sport segment accounts for nearly 34 percent of the overall Consumer Wearable Technology Market, which in and of itself is growing at a CAGR of 32.78 percent from 2013-2018.
The value of the fitness segment will more than triple by 2018, say leading TechNavio researchers, as the market is flooded with hundreds of devices and related apps, all promising superior monitoring of your health and fitness.
Many people—from industry insiders, to manufacturers to professional athletes—are seeking ways to make fitness wearables work for them.
This is exactly the topic that’s up for discussion at the upcoming Fitness & Sports Wearable Technology Conference, which takes place on July 22 in New York City, just ahead of this year’s Wearable Tech Expo. The conference and trade show will explore how health and fitness is expected to boom as a consumer market in the coming years, as wearable tech evolves to allow real-time management and analysis of individual and team data.
Ahead of the conference, why not take a look at just a few of the many vendors offering products in the wearable health and fitness device segment:
Wearable Applications Extend Far Beyond Fitness
But it’s not just the fitness sector that is getting a wearable upgrade. Healthcare, specifically remote patient monitoring, will be another major growth trend in the consumer wearable tech market over the next few years.
The aging worldwide population is expected to drive the adoption of smart wearable devices for healthcare. The population above 50 years of age is increasing in developed countries such as the US, Canada, and Western Europe, and it is expected that in the US alone, the number of people above 60 years with mental disorders will reach 15 million by 2030.
The major challenges associated with an aging population are low retirement income, high dependency on healthcare and medication, high disability, and multiple chronic illnesses but the traditional healthcare system doesn’t necessarily see to these needs.
Wearable devices provide a reliable way to keep track of the health and wellbeing of elderly patients. These devices automatically send real-time alerts to healthcare service providers in the event of an accident, a fall, or the patient unexpectedly leaving a safe area.
Also, wearable devices enable aging or physically disabled patients to contact their physicians instantly, and can help offer better home care for patients and peace of mind for their friends and families.
For a comprehensive list of companies offering wearable tech products, view our Top 116 Wearable Technology Companies blog.
