No slowing down for wearable technologies demand

The wearable computing device market will grow to 485 million annual device shipments by 2018, according to the latest forecast of ABI Research.

It is estimated 61 per cent of the wearable technologies market is attributed to sport/activity trackers in 2013. Smart activity trackers are widely available, and the device's trendy and stylish appearance makes them very popular with a broad range of customers.

Smartphone compatible watches are beginning to emerge, and rumours have materialized regarding Apple releasing a smart watch some time this year. Furthermore, we will see the arrival of the much anticipated, smart glasses later this year.

"The furor about wearable technologies, particularly smart watches and smart glasses is unsurprising," says Josh Flood, senior analyst at ABI Research. Both technologies are very stimulating and some of the applications for the device are rather inspiring. "Apple's curved glass-based watch could prove to be a revelation in the wearable technologies market. The major question is whether the digital time piece will act as a complimentary device to the company's iPhone smartphones or as a stand-alone product with other functionalities like health or activity tracking capabilities."

Additionally, smart watches offer extra usages for an item most people already own and commonly purchase. It may become universally expected for watches to include this functionality as feature in the future. Furthermore, the capabilities of smart watches could lead to the device being used as a wearable remote for home automation systems. A quick shake of your wrist to turn off/on room lights would be a very convenient tool.

Back in October, IHS released a similar study forecasting the rapid growth of the wearable technology market. By 2016, the number of available wearable devices will grow to from about 39 million to 171 million, IHS said. (See Wearable device market sees high growth.)