Wearables Enterprise to Expand by $8.5 Bn in Next Four Years, Predicts Compass Intelligence

By CIOReview | Monday, June 29, 2015
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SAN ANTONIO, TX: Compass Intelligence, a market analytics and consulting firm announced today the release of two reports covering the topic – emerging enterprise wearables market. Reports include Enterprise Wearables Market: 2Q 2015 Survey Results and Analysis and US Enterprise Wearables Market: 5-Year Forecast, 2014-2019, both will be available on compassintelligence.com.

Devices which previously targeted niche audience have now become mainstream gadgets – to make everyday life easy, where the market rate will exceed $8.5 Bn by 2019 according to the report. As the name indicates wearable devices refers to technology which can be easily worn as an additional accessory aimed to make daily activities easier. This technology is capable of similar functions as mobile phone or laptop. The early adopters of this technology will be industrial, field services, oil and gas and healthcare sectors. In today’s corporate world, since every company is keen on its employee’s fitness and health, Compass Intelligence anticipates rapid growth in healthcare wearable devices to be incorporated in the existing fitness program.

The report includes survey results on wearable devices conducted online using compass intelligence Thought Leaders Research Panel. The report focuses on the factors for the growth of wearable enterprise, who are the software developers in the current market and the benefits of wearables in the enterprise. The presentation also shares insights on the trending features for growth of market opportunities by pointing out the values of wearables to employees and consumers, predictions and considerations for implementations and 5–years US enterprise wearables market forecast.   

“Enterprise wearable devices are the next battleground for mobile device vendors. With purpose-built devices for enterprise customers, vendors are targeting vertical-specific needs and solving real business challenges with these devices,” says Heather Taylor, Senior Analyst, Compass Intelligence.

Key findings indicate that, among 610 surveyed only 14 percent currently own a smart glass res are confined to using fitness bands. While 45 percent are interested in buying smart watches since it will benefit for work purpose. 41 percent are inclined towards using hands-free, for its ability to access information, perform google search to make the daily activities easier.

 

The 5 year forecast report contains the predictions and recommendations from 2014 to 2019 for wearable devices market expansion in the U.S. This paper includes both unit scales and revenue forecasts and highlights annual growth rates and compound annual growth rates for total market. Added to this, the forecast is also categorized based on different devices, including bands/wrists worn, smart watches, google/VR, smart glasses (HUD), wearable cameras, smart clothing, medical and others.  Workplace wearables include any and all wearables purchased or sold for the purpose of workplace use, which include fitness/health devices purchased for the use of corporate wellness programs.