Prediction: 64 Million Wearables Sold By 2017

By Katie Wike, contributing writer

Report indicates wearable health technology sales will jump to more than 64 million in the next four years

In 2012 the sale of wearable technologies like the FitBit, Google Glass, and Pebble Smartwatch jumped almost 300 percent to 8.3 million products. Berg Insight predicts that number will only increase, climbing to 64 million over the next four years.

Berg Insight notes wearable fitness and activity trackers currently make up a bulk of sales but, “By the end of the forecast period, smart watches are predicted to incorporate much of the functionality of these and will then be the largest wearable device segment.

“‘A perfect storm of innovation within low power wireless connectivity, sensor technology, big data, cloud services, voice user interfaces and mobile computing power is coming together and paves the way for connected wearable technology,’ said Johan Svanberg, Senior Analyst, Berg Insight.”

According to Berg Insight, when these first generation type devices expand their roles and refine their design, sales will boom. The current wearables are perfect for their specific functions, “However, today’s devices need to evolve into something more than single purpose fitness trackers or external smartphone notification centres in order to be truly successful,” said Svanberg.

According to VentureBeat, the demand for these products is there. “The Pebble Smartwatch raised $10 million on Kickstarter and then another $15 million from investors. Analysts have estimated Glass could sell 650,000 units by 2017, and one study said that one in five Americans wanted an Apple iWatch — sight unseen. And one Google Glass competitor has already shipped 50,000 units of its first heads-up display product, while another, in Italy, is building a wearable glasses-based product that doesn’t make you look like a cyborg.”

Despite a seemingly bright future, Berg Insight notes wearable devices may become victims of their own popularity, writing, “Wide market availability of wearable devices also raises privacy concerns. ‘It is still uncertain where lines should be drawn, but as in the case with most new technology, individual users and solution providers have the responsibility not to misuse the capabilities enabled by wearable tech,’” concludes Svanberg.”