You probably already use at least one type of a wearable. What is wearable technology and why are we so addicted to using it?
The best wearable technology definition is simple: A wearable device is any technologically enhanced device that can be worn somewhere on your body to provide information, analytics and other computations, often tethered (typically via Bluetooth) to another “smart” device, such as your smartphone, tablet, computer or a combination thereof.
Popular uses of wearable technology products include things like the ability for the device to track your daily activities, most commonly health and fitness related activities such as tracking your caloric intake, your sleep cycle, your heartrate, fat or cholesterol levels, body monitoring, mental health, overall wellness, medication reminders, fitness trackers, and countless others.
Over the past decade, wearable technology trends have spurred this unique sector into unprecedented growth. As of 2019, wearable technology market growth had a compound annual growth rate (CAGR) of 7%, with current predictions modeling a CAGR of at least 15% over the next seven years. At the present, wearable technology market research has concluded that the current market is worth at least $33 billion (per year) and growing.
Emerging trends now include the ability to talk to your doctor or mental health practitioner from your wearable device, while tracking your mood, diet, medicine intake etc. The NP Journal has even tracked how wearable devices and technology help increase patient compliance and success rates.