Wearable data analytics IoT market to reach $838mn by 2022

By Jonathan Dyble
According to new report from ABI Research, the market for wearable data and analytics services is forecast to exceed hit $838mn in 2022. Currently valu...

According to new report from ABI Research, the market for wearable data and analytics services is forecast to exceed hit $838mn in 2022.

Currently valued at $247mn, the market is expected to more than triple in size in the next five years with a forecast compound annual growth (CAGR) rate of 27% between now and 2022.

See also:

“Wearable devices have long been finding their way into the lives of consumers and enterprises, offering various features such as activity tracking, communication, access to information, and vital healthcare monitoring,” says Stephanie Lawrence, Research Analyst at ABI Research.

“Data analytics adds a further benefit to the technology, giving users and companies actionable information based on the data that the devices collect, with deep integration through an increasingly connected market.”

Such technology is expected to thrive within the healthcare and sporting spheres, allowing insight into both personal fitness and medical information.

Further, ABI Research predicts that this information can then be used by law firms through an analysis of claimant activity levels after an injury – capabilities that companies including Catapult Sports, Emu Analytics and others are already providing.

“Raw data from wearable devices can often be overwhelming, providing the user, healthcare professional, or company with far too much information that doesn't have any real meaning,” concludes Lawrence.

“With access to data analytics, this information becomes much more meaningful, allowing the user, healthcare professional, or company to take action. In the wider IoT market view, wearables provide a human-centric data source—a valuable asset for efficiency and safety improvements in the workforce.”

Share

Featured Articles

Cloud & 5G - Day 1 highlights from the in-person stage

TECH LIVE LONDON returned to the Tobacco Dock last week. The stage host and Technology Magazine Editor in Chief, Alex Tuck, discusses the key themes

TECH LIVE LONDON: Day 2 highlights of the hybrid tech show

We take a look at some of the highlights of our final day at the Tech Live London show, including insights from Claroty, SalesForce and Oracle

TECH LIVE LONDON: An overview of the hybrid technology show

We take a look at the first day of Tech Live London with insights from technology leaders from companies such as IBM, Microsoft and Vodafone

TECH LIVE LONDON: Begins tomorrow at 10am!

Digital Transformation

Executive Q&A: Marc Lueck, CISO EMEA, Zscaler

Cloud & Cybersecurity

TECH LIVE LONDON: Registering, networking and logistics

Digital Transformation