IDTechEx Research forecast that the wearable technology market will rise from $24.2 billion in 2015 to three times that size in ten years – creating a market of $74 billion in 2025. In addition to increasing demand for existing enabling components, this provides a large opportunity for new technologies as electronics move from bulky devices to ones that can conform to the wearer.
As traditional consumer electronics devices begin to saturate, new markets are being explored and foremost among them is wearable technology. However, wearable gadgets thus far are mixed in terms of their success, consisting usually of bulky electronics with many limitations, power being one of them.
Wearable technology is one of the most popular trends. There has been a 10-fold increase in internet search interest since the beginning of 2013, with about $1 billion invested in wearables in 2014 alone. This level of investment will rise as the largest companies in the world compete for a slice of a market.