{"id":27901,"date":"2020-05-27T10:06:05","date_gmt":"2020-05-27T08:06:05","guid":{"rendered":"https:\/\/www.euruni.edu\/blog\/?p=27901"},"modified":"2020-05-27T10:06:08","modified_gmt":"2020-05-27T08:06:08","slug":"wearable-gadgets-trends-2020","status":"publish","type":"post","link":"https:\/\/www.euruni.edu\/blog\/wearable-gadgets-trends-2020\/","title":{"rendered":"The Business of Wearable Gadgets: 5 Important Trends in 2020"},"content":{"rendered":"\n

The wearables market is expected to be worth $62.82 billion by 2025<\/a>. Wearable tech, which encompasses smartwatches, virtual reality headsets, earphones and more, is one of the world\u2019s fastest-growing markets, and one of the most conspicuous examples of Internet of Things<\/a> (IoT) technology. <\/p>\n\n\n\n

According to one forecast, the number of total connected wearable gadgets will reach 929 million by 2021<\/a>. Innovations in this space are already impacting everyday life in a myriad of ways, with significant implications for several industries. Increasingly, companies are seeking to leverage wearable tech to better serve their customers and drive profits.\u00a0<\/p>\n\n\n\n

In this post, we\u2019re going to look at five key trends that are\nimpacting the business of wearable gadgets in 2020. <\/p>\n\n\n\n

1. IoT Will Shape Healthcare and Life Sciences<\/h2>\n\n\n\n

Wearable tech has a range of healthcare applications. <\/p>\n\n\n\n

Gadgets have the power to transform the way that professionals monitor and remedy health issues, saving billions of dollars in the process.<\/strong> Imagine, for example, being able to evaluate the risk of cancer or heart disease using data from a wearable device. Several gadgets have already received FDA approval, including a chest patch by Zephyr Performance Systems and a blood pressure monitor from Omron. <\/p>\n\n\n\n

On the other hand, mainstream health gadgets are also becoming\npopular. Fitbit is an example of a well-known wearable that is helping people\nlead healthier lives. <\/p>\n\n\n\n

2. Companies Will Increasingly Collect and Use Data From Wearable Gadgets<\/h2>\n\n\n\n

The real value of wearable gadgets comes from data, both from a\nconsumer and commercial perspective. And companies are eager to understand and\nleverage this new information.  <\/p>\n\n\n\n

Crucially, this kind of data expands on the picture provided by desktop and mobile browsing. Marketeers with access to intimate details about individual customers, including their state of health, location, buying habits, and more, can tailor highly specific and personalized product suggestions<\/strong>.<\/p>\n\n\n\n

It\u2019s also likely that business-to-business solutions able to make\nsense of data collected from wearable devices will continue to emerge. <\/p>\n\n\n\n

3. VR and Gaming Will Continue Incremental Growth<\/h2>\n\n\n\n

While the appetite for virtual reality shows no signs of abating, it hasn\u2019t taken off in the way that many people expected. As one Guardian writer puts it: \u201cVirtual reality has been the ‘next big thing’ for five years\u2026\u201d<\/p>\n\n\n\n

The data suggests that VR will continue to grow incrementally<\/strong>, in a series of \u201cmini-boons\u201d, as new games come out and widespread appreciation gradually materializes. A range of factors, including expensive hardware and a lack of compelling content, means VR is yet to fully enter the mainstream. <\/p>\n\n\n\n

The coming years will likely see continued albeit slow uptake. Will there be an explosion of interest? Probably not. But it\u2019s always a possibility.<\/a><\/p>\n\n\n\n

\"virtual<\/figure>\n\n\n\n

4. B2B Wearables Will Rise in Popularity<\/h2>\n\n\n\n

Wearables are usually seen as a business-to-consumer (B2C) phenomenon. But business-to-business (B2B) gadgets also have a significant role to play. The market for B2B wearables is predicted to have a compound annual growth rate of 26.72% between 2019 and 2025<\/strong>. <\/p>\n\n\n\n

Although it\u2019s still early days for this sector of the market, the\nrange of applications is vast. Potential opportunities include fitness bands to\ntrack employee health and limit workplace accidents, body cameras (already used\nby many police forces), VR headsets for employee training and more. <\/p>\n\n\n\n

5. Understanding of the \u201cDark Side\u201d of Wearables Will Mature<\/h2>\n\n\n\n

Wearable gadgets aren\u2019t all sunshine and rainbows. There\u2019s a dark\nside too. <\/p>\n\n\n\n

What happens in the case of a data breach, for example? What\nhappens if companies want to sell data? What are the long-term health\nramifications of using cumbersome tech like VR headsets? <\/p>\n\n\n\n

As the popularity of this new technology grows, it\u2019s likely that consumers will start to demand more safeguards and assurances<\/strong>.<\/p>\n\n\n\n

Interested in the Business of Emerging Tech?<\/strong><\/h2>\n\n\n\n

Technology is shaping business in ways that would have been though\nunimaginable only a few years ago. It\u2019s an exciting and fast-moving\nspace. <\/p>\n\n\n\n

If you\u2019re interested in working at the confluence of business and technology, check out EU Business School’s Bachelor of Arts in Digital Business, Design & Innovation<\/a> and the Master in Innovation & Entrepreneurship<\/a>. EU’s emphasis on experiential learning and industry placements with leading companies will ensure that you’re prepared for career success.<\/p>\n\n\n\n

\"eu<\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"

The wearables market is expected to be worth $62.82 billion by 2025. Wearable tech, which encompasses smartwatches, virtual reality headsets, earphones and more, is one of the world\u2019s fastest-growing markets, and one of the most conspicuous examples of Internet of Things (IoT) technology. According to one forecast, the number of total connected wearable gadgets will reach 929 million by 2021. Innovations in this space are already impacting everyday life in a myriad of ways, with significant implications for several industries. Increasingly, companies are seeking to leverage wearable tech to better serve their customers and drive profits.\u00a0 In this post, we\u2019re […]<\/p>\n","protected":false},"author":2,"featured_media":28529,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[1771],"tags":[4122,4788,1321,1588],"class_list":["post-27901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-trends","tag-5g-technology","tag-internet-of-things","tag-technology-and-business","tag-virtual-reality","post--single"],"yoast_head":"\r\nThe Business of Wearable Gadgets: 5 Important Trends in 2020 \u231a\ufe0f<\/title>\r\n<meta name=\"description\" content=\"Wearable tech encompasses smartwatches, virtual reality headsets, earphones and more, is one of the world\u2019s fastest-growing markets.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.euruni.edu\/blog\/wearable-gadgets-trends-2020\/\" \/>\r\n<meta name=\"author\" content=\"EU Business School\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.euruni.edu\/blog\/wearable-gadgets-trends-2020\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"EU Blog\",\"item\":\"https:\/\/www.euruni.edu\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business Trends\",\"item\":\"https:\/\/www.euruni.edu\/blog\/category\/business-trends\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"The Business of Wearable Gadgets: 5 Important Trends in 2020\"}]}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Business of Wearable Gadgets: 5 Important Trends in 2020 \u231a\ufe0f","description":"Wearable tech encompasses smartwatches, virtual reality headsets, earphones and more, is one of the world\u2019s fastest-growing markets.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.euruni.edu\/blog\/wearable-gadgets-trends-2020\/","author":"EU Business School","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/www.euruni.edu\/blog\/wearable-gadgets-trends-2020\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"EU Blog","item":"https:\/\/www.euruni.edu\/blog\/"},{"@type":"ListItem","position":2,"name":"Business Trends","item":"https:\/\/www.euruni.edu\/blog\/category\/business-trends\/"},{"@type":"ListItem","position":3,"name":"The Business of Wearable Gadgets: 5 Important Trends in 2020"}]}]}},"_links":{"self":[{"href":"https:\/\/www.euruni.edu\/blog\/wp-json\/wp\/v2\/posts\/27901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.euruni.edu\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.euruni.edu\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.euruni.edu\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.euruni.edu\/blog\/wp-json\/wp\/v2\/comments?post=27901"}],"version-history":[{"count":5,"href":"https:\/\/www.euruni.edu\/blog\/wp-json\/wp\/v2\/posts\/27901\/revisions"}],"predecessor-version":[{"id":28533,"href":"https:\/\/www.euruni.edu\/blog\/wp-json\/wp\/v2\/posts\/27901\/revisions\/28533"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.euruni.edu\/blog\/wp-json\/wp\/v2\/media\/28529"}],"wp:attachment":[{"href":"https:\/\/www.euruni.edu\/blog\/wp-json\/wp\/v2\/media?parent=27901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.euruni.edu\/blog\/wp-json\/wp\/v2\/categories?post=27901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.euruni.edu\/blog\/wp-json\/wp\/v2\/tags?post=27901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}