Smart wearable devices have considerably changed our perception and understanding of technology and information gathering about our lives. In 2021 end-user spending of wearable devices in 2021 globally amounted to $82 billion. If we consider the devices as small but very sensitive and convenient mechanisms for data collection and sharing.
Understanding the Capabilities of Smart Wearables
Smart wearable devices are packed with a diverse array of sensors and technologies that enable them to gather a wealth of data about the wearer’s physical, physiological, and environmental conditions. From monitoring heart rate and sleep to speed and movement via GPS. It was noted that, between 2019 and 2022, the number of connected wearable devices have been growing very fast. In 2022, the number of such devices around the world has been equal to 1.1 billion, 929 million of which were counted a year earlier.
Physiological Monitoring
Smart wearables can track various physiological metrics, such as heart rate (ECG and photoplethysmography (PPG)), blood pressure, and respiratory rate, providing users with real-time data on their body’s functioning. This information can be used to monitor chronic conditions, detect early warning signs of potential health issues, and guide users towards healthier behaviors.
Activity Tracking
Smart wearables have built-in accelerometers, gyroscopes, and GPS which allows monitoring the user’s physical activity by counting steps taken, distance traveled and calories burnt with high levels of accuracy. It has been shown in a study that when wearables were used to measure physical activity during lockdown that standing time was significantly reduced by 33%, walking time reduced by 53% and step count reduced by 28%. This data can be utilized for monitoring health/fitness goals and getting insights into one’s daily activity patterns.
Environmental Sensing
Some smart wearables are equipped with sensors that monitor environmental factors, such as air quality, UV exposure, and noise levels. This information can be used to provide users with real-time alerts and recommendations to help them make informed decisions about their surroundings and minimize potential health risks.For instance, a smart wristband developed by New Brunswick engineers with a wireless connection to a smartphone opens up a new world of monitors for personal health and the environment.
Enhancing Health and Wellness through Smart Wearables
Personal health and wellness represent one of the most transformative areas for the application of smart wearable technologies. Using their capabilities to track multiple physiological and activity-related metrics at all times, smart wearables can help the wearers gain a better insight into their overall well-being and influence their decisions and actions regarding their lifestyle and habits. They can be used to track chronic conditions and to help motivate the wearers to be more physically active, making them more involved in their health and wellness.
Not only will smart wearables alert users or their caregivers of early signs of potential health issues like abnormal heart rhythms or changes in sleep patterns in order to intervene before things worsen, but they can also assess user data to give personalized recommendations to assist them in achieving their health and wellness goals. These are expected to range from specialized workout routines, dietary advice, and stress management strategies.
Moreover, Smart wearables can enable healthcare providers to remotely monitor their patients’ health, allowing for more proactive and personalized care. This can be particularly beneficial for individuals with chronic conditions or those who live in remote or underserved areas.
Revolutionizing the Way We Interact with Technology
Smart wearables are not only enhancing our health, wellness, and productivity, but they are also fundamentally changing the way we interact with technology. By seamlessly integrating digital capabilities into our physical environment, these devices are enabling more intuitive and natural interactions that blur the line between the digital and the physical worlds.
Biometrics can be utilized to authenticate the wearer of Smart wearables. For instance, a smart wearable with biometric sensors snooper a person’s fingerprint or iris to gain permission before accessing most of its functions or data. This function could permit users to buy items they have scanned from physical outlets, access their social media pages, or even their vehicles. Additionally, modern types of smart wearables, such as AR glasses, lack a screen but are attached with a small camera and a computer that can project virtual components over the view of the world seen the wearer. This feature allows the user to navigate using detailed details and augmented experiences and an expanded view of what is in front of them.
Market Overview and Trends
According to Research Nester analysis, the global smart wearables devices market has rapidly emerged over the years on account of record numbers of consumers boosting personal health, fitness, and lifestyle with the help of technology that has increased the market size worth USD 64.9 Billion in 2023 and will reach USD 528.7 Billion by the end of 2036 at an anticipated CAGR of 19.7% during the forecast period, 2024-2036.The increasing knowledge of the need for health monitoring, the increasing trend toward a connected lifestyle, and the constant development in sensor technology have all aided the market’s development. The major trends in the industry are the addition of more sophisticated capabilities such as heart rate and sleep detection activity identification and the increased popularity of hybrid devices that combine a traditional watch design with smart features. For example, the Apple Watch 3 and Fitbit Charge 2 demonstrated acceptable heart rate accuracy values (<±10%) over 24 h time spans and each activity.
Additionally, the emergence of specialized smart wearables for niche applications, such as medical monitoring and enterprise solutions, has further diversified the market and catered to the unique needs of different consumer segments. As the technology continues to evolve, the smart wearable devices industry is poised to witness even more innovative developments and increased adoption across various demographics.
Key Product Categories
Smartwatches
Smartwatches are the primordial product category for the smart wearable devices market. Spending on end-users on smartwatches increased by 17.6% to $21.8 billion in 2020. Smartwatches are modern watches with various capabilities, from monitoring fitness and the rhythm of the heart to making a mobile transaction and submitting voice instructions. Smartwatches are becoming progressively more versatile, making them the primary transition of health and other lifetime systems. The top intelligent wrist resources have matured, exquisite crystal-clear displays, competent CPUs, and durable batteries.
Fitness Trackers
Fitness trackers have often led the health and wellness revolution allowing individuals to track their physical activities, sleep patterns, and more. In 2019, about 22% of American consumers were monitoring physical activities through a fitness tracker. In 2021, the global penetration rate for fitness tracker reached 2.6%, which is projected to double by 2026. These compact and lightweight devices leverage advanced sensors to accurately measure metrics such as steps taken, calories burned, and heart rate, empowering individuals to take a more proactive approach to their fitness and wellness goals.
Virtual Reality (VR) Headsets
The availability of the immersive virtual reality in the form of advanced VR headsets has increased. Up to 89% of those who have virtual reality headsets use them many times a month, while 62% use it more than ones a week. This comprehensive technology is provided through dedicated VR headsets that can be connected to powerful gaming computers or be standalone units. Users are fully disinhibited, as they are surrounded by the atmosphere of an impeccable picture of an exciting virtual environment designed for games, entertainments, or job or education training.
Emerging Trends in Smart Wearable Technology
With the evolution of the smart wearable industry, several trends promise to shape the future of the technology in exciting ways. The development of new materials, power sources, sensors, and artificial intelligence introduces new opportunities for the further development of smart wearables and their ability to benefit people’s lives.
Flexible and Stretchable Wearables
The expansion of flexible, stretchable, and even washable materials will pave the way for the development of smart wearables that fit the human body like a second skin. This improves the overall wearability of wearables.
Advanced Sensor Integration
The use of more advanced sensors, such as the ones used in electroencephalography for brain activity or near-infrared spectroscopy for monitoring tissue oxygenation, will broaden the spectrum of physiological data for smart wearable availability.
Increased Power Efficiency
Advancements in battery technology and power management systems will lead to longer-lasting, more energy-efficient smart wearables, reducing the need for frequent charging and enabling continuous monitoring and data collection.
Enhanced Connectivity and Integration
Connectivity features such as Bluetooth, Wi-Fi, and cellular have enabled smart wearable devices to be integrated with smartphones, smart home systems, and the cloud, which allow for sharing real-time data and remote monitoring.
Artificial Intelligence and Machine Learning
AI and machine learning algorithms have transformed data analysis and offered intelligent and personalized recommendations, from activity recommendations to sleep analysis and health risk predictions, allowing users to get advice and insights to make better choices about their health.
The Future of Smart Wearables: Shaping Our Lives
The potential of smart wearable technology has yet to be fully realized, and the impact on the future is not only fascinating but profound. This new innovation will not only change how we view and use healthcare in some cases but will work to link humanity and technology like never before. From early warning of diseases to the fusion of our daily lives with the digital world, the future of smart wearable is a roadmap to potential empowerment and self-realization, and a vision for our future life, work, and comfort in the digital era.
