The Fitness Industry is Reshaping the Wearable Technology Market Growth

Wearables are more than just smartwatches or wireless headphones. As new uses and devices are constantly added, the pace of development seems to be accelerating. Digital technologies are changing almost every aspect of our daily lives. They have transformed our interactions with family and friends and our learning and entertainment habits.

The popularity of wearable technology in fitness and sports is slowly increasing. A fitness enthusiast who wants to track your daily workout activity or a sports person who aims to improve your playing experience, there’s a wearable tech for every situation

According to a report by Market.us, “The Global Wearable Technology Ecosystems Market is projected to reach a valuation of USD 367.32 Mn by 2032 at a CAGR of 19.3%, from USD 62.9 Mn in 2022.”

Gaurav Yadav, a senior research analyst at market.us said, “The rising awareness of health and fitness amongst the people is the main factor driving the market growth. Individuals dealing with long-term chronic diseases like blood pressure and diabetes also prefer to keep a close watch on their well-being. This has led to a rise in sophisticated electromedical devices. ”

He added,” It is expected that the introduction of 5G will bring significant R&D improvements to the wearable tech market. 5G will provide faster speeds and lower latency, benefiting many applications requiring real-time response, such as augmented reality and virtual reality.”

Wearable technologies or wearables are devices that can help to keep track of the user’s physiological activities, like heart rate, and temperature. These miniature devices are equipped with sensors and are equipped on a body sending vital biochemical, medical, and workout data to a database.

Thanks to augmented, virtual, and mixed reality, digital projections can be overlayed on real-life objects to provide contextual information and allow users to manipulate their environment visually.

During the COVID-19 pandemic, The key players in the wearable technology market spent their time focusing on the issues created. This has accelerated the digitization of the healthcare industry. Recently a group of engineers at MIT have developed sensors for face masks. The system monitors biological and environmental changes and detects the distance between the mask and the wearer’s skin. The MIT team aims to create a portable and user-friendly device to measure the fit of the mask.

Wristbands equipped with sensors were one of the first developments in the wearable technology market. These could keep track of the user’s exercise and general biochemical data. They were particularly favored for their sleek look. For Example, FitBit Flex is used to track steps equipped with five indicator lights, and is able to sync with smartphones.

While the Apple Watch, Fitbit, and other wearable technologies are well-known examples, there are many other developments. VR and AR technologies, smart coats, and many other wearables are leading us toward a more advanced and connected lifestyle.

The smart ring is a trend that is bound to last for a long time. They are versatile and can be used for a wide variety of functions. These rings can handle everything, including payments, scanning, healthcare, and fitness tracking. They are also among the most innovative wearable tech of 2022.

The gaming market is expected to continue its growth, thanks to the segment’s promising growth. Microsoft and Nintendo have launched products that use Augmented Reality (AR), which are being used by gaming console manufacturers.

The entry of the metaverse powered by VR technology is creating a massive fanbase in the gaming industry and is thought to revolutionalize the gaming industry. Metaverse is set to change the industry into an interactive and realistic 3D platform with the incorporation of VR headsets, full-display screens, and rooms that have sensory features like scents or tactile sensations.

Wearable devices are more than just a wow concept. They also improve people’s quality of life and have become an integral part of it. They have heavily impacted the health sector since the pandemic with the life-changing advancements

Enterprises have plenty of reasons to invest in wearables, contactless business activities, VR-backed immersive experiences, IoT and AR/VR-backed immersive experiences, as well as on-demand facilities.