Page 38 - Seniors Toady March 2020
P. 38
$45 billion. This market growth could
be attributed to the demanding lifestyle
of the society, but that requires people to
incorporate these gadgets into their daily
lives in a way that they haven’t before.
Consumers and suppliers are beginning
to use various devices for a variety of
applications with no sign of slowing down!
As technology evolves, these Wearables are
becoming more popular and have become
The mobile phone itself may eventually be replaced entirely
by the smart watch part of our lives. They are now intertwined
you to take part in these fun and interactive with our lifestyles. We are more inclined to
activities physically could revolutionise the monitor ourselves much closer than we ever
entertainment industry. did before. It all started about ten years ago
It has raised the expectations of what a smart when the companies realised the potential
wearable can do, and each brand is vying for of wearables dominating the fitness market.
best-in-class status. The most recent trend There has been a monumental rise in the
observed is about top-performing insurers world of fitness devices that track your
leveraging sensor technologies to create progress. In all likely hood, it will improve
value. The customer (policyholder in this and become even more critical and popular.
case) uses wearable devices to manage their Today, there are devices where you input
health outcomes. Behavioural data (data on your biological data, and the wearable will
your living style through your wearables) is create bespoke programmes to improve your
included for drawing up loyalty programmes fitness levels.
by the insurance company, and this is
becoming a new trend in policy pricing. It
would soon become extensive, profound and
long-lasting,
Surge in popularity
In the last few years, there has been a surge
of popularity in wearable technology,
including activity trackers, smartwatches, Smart wearables are often used for fitness tracking and monitoring
and smart clothing. This burgeoning vital signs
market could blow to become the next While wearable technology may be all the
smartphone—a mass industry that creates rage right now, only time will tell us what
its economic ecosystem. Just to give you will make it stick around this time! So, if you
a quick sense of the scale of this industry, are game, go ahead and take your pick from
Wearables are bound to become the world’s the slew of wearable products that suit your
best-selling consumer electronics product pocket, meet your requirement and start
after smartphones. Smart wearables are monitoring your fitness levels. Stay healthy,
projected to reach 305 million units in stay fit and take good care of your health!
2020, with a compound annual growth
rate of about 15 percent, the current market Next Month: Tech4Seniors will carry a scan
size of wearables is estimated to be around on seniors-friendly wearable devices
38
